Wallington Asset Management LLC Raises Stock Holdings in Colgate-Palmolive Company $CL

Wallington Asset Management LLC raised its position in shares of Colgate-Palmolive Company (NYSE:CL) by 0.3% during the 2nd quarter, Holdings Channel reports. The fund owned 71,675 shares of the company’s stock after purchasing an additional 180 shares during the period. Wallington Asset Management LLC’s holdings in Colgate-Palmolive were worth $6,515,000 at the end of the most recent reporting period.

Several other hedge funds have also modified their holdings of the company. Cornerstone Wealth Management LLC raised its holdings in shares of Colgate-Palmolive by 1.2% during the 1st quarter. Cornerstone Wealth Management LLC now owns 9,035 shares of the company’s stock worth $847,000 after acquiring an additional 110 shares in the last quarter. Redhawk Wealth Advisors Inc. raised its holdings in shares of Colgate-Palmolive by 2.4% during the 2nd quarter. Redhawk Wealth Advisors Inc. now owns 5,467 shares of the company’s stock worth $497,000 after acquiring an additional 129 shares in the last quarter. KFG Wealth Management LLC raised its holdings in shares of Colgate-Palmolive by 1.5% during the 1st quarter. KFG Wealth Management LLC now owns 8,835 shares of the company’s stock worth $828,000 after acquiring an additional 131 shares in the last quarter. MONECO Advisors LLC raised its holdings in shares of Colgate-Palmolive by 2.2% during the 1st quarter. MONECO Advisors LLC now owns 6,051 shares of the company’s stock worth $567,000 after acquiring an additional 133 shares in the last quarter. Finally, Ledyard National Bank raised its holdings in shares of Colgate-Palmolive by 4.5% during the 1st quarter. Ledyard National Bank now owns 3,094 shares of the company’s stock worth $290,000 after acquiring an additional 134 shares in the last quarter. 80.41% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several analysts recently weighed in on the company. Piper Sandler assumed coverage on Colgate-Palmolive in a report on Friday. They set a “neutral” rating and a $84.00 price target on the stock. Morgan Stanley decreased their price target on Colgate-Palmolive from $104.00 to $96.00 and set an “overweight” rating on the stock in a report on Monday, August 4th. The Goldman Sachs Group decreased their price target on Colgate-Palmolive from $106.00 to $91.00 and set a “buy” rating on the stock in a report on Thursday. Weiss Ratings restated a “hold (c)” rating on shares of Colgate-Palmolive in a report on Saturday, September 27th. Finally, Citigroup decreased their price target on Colgate-Palmolive from $108.00 to $105.00 and set a “buy” rating on the stock in a report on Monday, August 4th. Seven equities research analysts have rated the stock with a Buy rating, five have assigned a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $94.83.

Colgate-Palmolive Stock Performance

CL stock opened at $78.01 on Friday. The company has a quick ratio of 0.57, a current ratio of 0.89 and a debt-to-equity ratio of 6.79. The business’s fifty day simple moving average is $83.29 and its two-hundred day simple moving average is $88.33. Colgate-Palmolive Company has a twelve month low of $77.91 and a twelve month high of $102.61. The firm has a market cap of $63.05 billion, a price-to-earnings ratio of 21.91, a PEG ratio of 4.07 and a beta of 0.34.

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

Colgate-Palmolive Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, November 14th. Stockholders of record on Friday, October 17th will be paid a dividend of $0.52 per share. 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 currently 58.43%.

Colgate-Palmolive 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.