Colgate-Palmolive Company $CL Shares Sold by Prime Capital Investment Advisors LLC

Prime Capital Investment Advisors LLC lessened its holdings in shares of Colgate-Palmolive Company (NYSE:CL) by 21.8% in the second quarter, Holdings Channel.com reports. The firm owned 15,761 shares of the company’s stock after selling 4,405 shares during the period. Prime Capital Investment Advisors LLC’s holdings in Colgate-Palmolive were worth $1,433,000 as of its most recent SEC filing.

A number of other hedge funds have also recently bought and sold shares of CL. Price T Rowe Associates Inc. MD raised its stake in shares of Colgate-Palmolive by 18.3% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 34,009,078 shares of the company’s stock valued at $3,186,651,000 after purchasing an additional 5,269,140 shares in the last quarter. Nuveen LLC acquired a new stake in shares of Colgate-Palmolive in the 1st quarter valued at about $217,593,000. Goldman Sachs Group Inc. raised its stake in shares of Colgate-Palmolive by 34.5% in the 1st quarter. Goldman Sachs Group Inc. now owns 7,980,387 shares of the company’s stock valued at $747,762,000 after purchasing an additional 2,045,191 shares in the last quarter. Diamond Hill Capital Management Inc. raised its stake in shares of Colgate-Palmolive by 45.0% in the 1st quarter. Diamond Hill Capital Management Inc. now owns 5,562,968 shares of the company’s stock valued at $521,250,000 after purchasing an additional 1,727,105 shares in the last quarter. Finally, Alliancebernstein L.P. raised its stake in shares of Colgate-Palmolive by 60.5% in the 1st quarter. Alliancebernstein L.P. now owns 2,336,783 shares of the company’s stock valued at $218,957,000 after purchasing an additional 880,527 shares in the last quarter. Institutional investors and hedge funds own 80.41% of the company’s stock.

Wall Street Analyst Weigh In

CL has been the topic of a number of recent analyst reports. Piper Sandler initiated coverage on shares of Colgate-Palmolive in a research note on Friday, October 3rd. They issued a “neutral” rating and a $84.00 target price on the stock. JPMorgan Chase & Co. cut their target price on shares of Colgate-Palmolive from $99.00 to $95.00 and set an “overweight” rating on the stock in a research note on Monday, August 4th. Barclays dropped their price objective on shares of Colgate-Palmolive from $87.00 to $82.00 and set an “equal weight” rating on the stock in a research note on Wednesday, October 1st. Bank of America dropped their price objective on shares of Colgate-Palmolive from $98.00 to $88.00 and set a “buy” rating on the stock in a research note on Wednesday. Finally, Weiss Ratings reiterated a “hold (c)” rating on shares of Colgate-Palmolive in a research note on Wednesday. Eight equities research analysts have rated the stock with a Buy rating, five have issued a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $93.23.

Colgate-Palmolive Price Performance

CL opened at $77.96 on Thursday. The company’s 50-day moving average price is $82.79 and its 200 day moving average price is $88.08. Colgate-Palmolive Company has a fifty-two week low of $77.09 and a fifty-two week high of $102.61. The firm has a market cap of $63.01 billion, a price-to-earnings ratio of 21.90, a price-to-earnings-growth ratio of 4.11 and a beta of 0.34. The company has a quick ratio of 0.57, a current ratio of 0.89 and a debt-to-equity ratio of 6.79.

Colgate-Palmolive (NYSE:CL) last announced its quarterly earnings results on Friday, August 1st. The company reported $0.92 EPS for the quarter, beating the consensus estimate of $0.89 by $0.03. Colgate-Palmolive had a net margin of 14.55% and a return on equity of 377.63%. The company had revenue of $5.11 billion for the quarter, compared to analyst estimates of $5.03 billion. During the same quarter last year, the business earned $0.91 earnings per share. Colgate-Palmolive’s revenue was up 1.0% compared to the same quarter last year. As a group, sell-side analysts expect that Colgate-Palmolive Company will post 3.75 earnings per share for the current year.

Colgate-Palmolive Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, November 14th. Shareholders of record on Friday, October 17th will be paid a $0.52 dividend. The ex-dividend date is Friday, October 17th. This represents a $2.08 annualized dividend and a dividend yield of 2.7%. Colgate-Palmolive’s dividend payout ratio (DPR) is presently 58.43%.

Colgate-Palmolive Company Profile

Colgate-Palmolive Company, together with its subsidiaries, manufactures and sells consumer products in the United States and internationally. It operates through two segments: Oral, Personal and Home Care; and Pet Nutrition. The Oral, Personal and Home Care segment offers toothpaste, toothbrushes, mouthwash, bar and liquid hand soaps, shower gels, shampoos, conditioners, deodorants and antiperspirants, skin health products, dishwashing detergents, fabric conditioners, household cleaners, and other related items.