Allworth Financial LP Has $2.48 Million Stake in Colgate-Palmolive Company $CL

Allworth Financial LP grew its stake in shares of Colgate-Palmolive Company (NYSE:CL) by 41.5% in the second quarter, according to its most recent disclosure with the SEC. The fund owned 27,276 shares of the company’s stock after buying an additional 7,995 shares during the period. Allworth Financial LP’s holdings in Colgate-Palmolive were worth $2,479,000 as of its most recent filing with the SEC.

Other hedge funds have also made changes to their positions in the company. Westside Investment Management Inc. increased its stake in Colgate-Palmolive by 85.5% during the second quarter. Westside Investment Management Inc. now owns 282 shares of the company’s stock valued at $26,000 after acquiring an additional 130 shares during the period. Saudi Central Bank acquired a new stake in shares of Colgate-Palmolive during the 1st quarter worth approximately $29,000. Ransom Advisory Ltd acquired a new stake in shares of Colgate-Palmolive during the 1st quarter worth approximately $33,000. Y.D. More Investments Ltd bought a new stake in shares of Colgate-Palmolive during the first quarter valued at approximately $37,000. Finally, Atticus Wealth Management LLC raised its stake in shares of Colgate-Palmolive by 156.8% in the second quarter. Atticus Wealth Management LLC now owns 488 shares of the company’s stock valued at $44,000 after purchasing an additional 298 shares in the last quarter. Institutional investors own 80.41% of the company’s stock.

Colgate-Palmolive Price Performance

Colgate-Palmolive stock opened at $78.57 on Thursday. The business’s fifty day moving average is $79.42 and its two-hundred day moving average is $85.39. 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 firm has a market cap of $63.33 billion, a P/E ratio of 22.07, a P/E/G ratio of 4.44 and a beta of 0.35. Colgate-Palmolive Company has a 52 week low of $74.54 and a 52 week high of $100.18.

Colgate-Palmolive (NYSE:CL) last released its quarterly earnings results on Friday, October 31st. The company reported $0.91 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.89 by $0.02. The business had revenue of $5.13 billion during the quarter, compared to analysts’ expectations of $5.17 billion. Colgate-Palmolive had a return on equity of 377.63% and a net margin of 14.55%.The firm’s revenue for the quarter was up 1.9% compared to the same quarter last year. During the same period in the previous year, the business posted $0.91 earnings per share. Equities research analysts forecast that Colgate-Palmolive Company will post 3.75 earnings per share for the current fiscal 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 given a dividend of $0.52 per share. This represents a $2.08 dividend on an annualized basis and a dividend yield of 2.6%. The ex-dividend date is Friday, October 17th. Colgate-Palmolive’s dividend payout ratio is presently 58.26%.

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on the stock. Piper Sandler started coverage on shares of Colgate-Palmolive in a research note on Friday, October 3rd. They set a “neutral” rating and a $84.00 price target on the stock. Wells Fargo & Company reduced their price objective on shares of Colgate-Palmolive from $80.00 to $77.00 and set an “underweight” rating for the company in a report on Monday, November 3rd. Morgan Stanley decreased their target price on shares of Colgate-Palmolive from $96.00 to $87.00 and set an “overweight” rating on the stock in a research report on Monday, November 3rd. Weiss Ratings reissued a “hold (c)” rating on shares of Colgate-Palmolive in a research report on Wednesday, October 8th. Finally, JPMorgan Chase & Co. cut their price target on shares of Colgate-Palmolive from $88.00 to $87.00 and set an “overweight” rating for the company in a research note on Monday, November 3rd. Nine analysts have rated the stock with a Buy rating, five have issued a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, Colgate-Palmolive presently has a consensus rating of “Moderate Buy” and an average target price of $89.87.

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.