Pallas Capital Advisors LLC Trims Position in Colgate-Palmolive Company $CL

Pallas Capital Advisors LLC cut its stake in shares of Colgate-Palmolive Company (NYSE:CL) by 28.9% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 2,719 shares of the company’s stock after selling 1,103 shares during the quarter. Pallas Capital Advisors LLC’s holdings in Colgate-Palmolive were worth $247,000 as of its most recent SEC filing.

Other large investors have also recently modified their holdings of the company. Brighton Jones LLC lifted its holdings in shares of Colgate-Palmolive by 4.4% during the fourth quarter. Brighton Jones LLC now owns 10,578 shares of the company’s stock valued at $962,000 after purchasing an additional 450 shares in the last quarter. Bernard Wealth Management Corp. bought a new position in Colgate-Palmolive in the fourth quarter valued at about $36,000. Forum Financial Management LP lifted its holdings in Colgate-Palmolive by 24.6% in the fourth quarter. Forum Financial Management LP now owns 5,513 shares of the company’s stock valued at $501,000 after acquiring an additional 1,088 shares during the period. Vermillion Wealth Management Inc. bought a new position in shares of Colgate-Palmolive in the fourth quarter worth about $31,000. Finally, Ascent Group LLC raised its stake in shares of Colgate-Palmolive by 13.4% in the fourth quarter. Ascent Group LLC now owns 16,390 shares of the company’s stock worth $1,490,000 after buying an additional 1,933 shares during the period. Hedge funds and other institutional investors own 80.41% of the company’s stock.

Colgate-Palmolive Price Performance

Shares of Colgate-Palmolive stock opened at $79.36 on Tuesday. The stock has a market cap of $64.14 billion, a price-to-earnings ratio of 22.29, a price-to-earnings-growth ratio of 4.22 and a beta of 0.35. The company has a debt-to-equity ratio of 6.79, a quick ratio of 0.57 and a current ratio of 0.89. The stock has a 50 day moving average price of $84.78 and a 200-day moving average price of $89.05. Colgate-Palmolive Company has a one year low of $79.29 and a one year high of $104.49.

Colgate-Palmolive (NYSE:CL) last announced its earnings results on Friday, August 1st. The company reported $0.92 EPS for the quarter, topping analysts’ consensus estimates of $0.89 by $0.03. The firm had revenue of $5.11 billion during the quarter, compared to analysts’ expectations of $5.03 billion. Colgate-Palmolive had a return on equity of 377.63% and a net margin of 14.55%.The company’s quarterly revenue was up 1.0% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.91 EPS. Equities analysts expect that Colgate-Palmolive Company will post 3.75 EPS for the current year.

Colgate-Palmolive Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, November 14th. Stockholders of record on Friday, October 17th will be issued a $0.52 dividend. The ex-dividend date is Friday, October 17th. This represents a $2.08 dividend on an annualized basis and a dividend yield of 2.6%. Colgate-Palmolive’s payout ratio is 58.43%.

Wall Street Analyst Weigh In

Several analysts recently issued reports on CL shares. JPMorgan Chase & Co. cut their target price on Colgate-Palmolive from $99.00 to $95.00 and set an “overweight” rating for the company in a research report on Monday, August 4th. Citigroup cut their target price on Colgate-Palmolive from $108.00 to $105.00 and set a “buy” rating for the company in a research report on Monday, August 4th. Wells Fargo & Company cut their target price on Colgate-Palmolive from $88.00 to $83.00 and set an “underweight” rating for the company in a research report on Monday, August 4th. Morgan Stanley cut their target price on Colgate-Palmolive from $104.00 to $96.00 and set an “overweight” rating for the company in a research report on Monday, August 4th. Finally, UBS Group cut their price target on Colgate-Palmolive from $109.00 to $106.00 and set a “buy” rating for the company in a report on Thursday, July 17th. Seven equities research analysts have rated the stock with a Buy rating, three have given a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $98.00.

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.