Baxter Bros Inc. Sells 843 Shares of Colgate-Palmolive Company $CL

Baxter Bros Inc. lessened its position in shares of Colgate-Palmolive Company (NYSE:CL) by 4.4% during the second quarter, HoldingsChannel.com reports. The fund owned 18,430 shares of the company’s stock after selling 843 shares during the period. Baxter Bros Inc.’s holdings in Colgate-Palmolive were worth $1,675,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of the company. Cornerstone Wealth Management LLC increased its stake in Colgate-Palmolive by 1.2% during the 1st quarter. Cornerstone Wealth Management LLC now owns 9,035 shares of the company’s stock valued at $847,000 after purchasing an additional 110 shares in the last quarter. Grimes & Company Inc. increased its stake in Colgate-Palmolive by 1.0% during the 2nd quarter. Grimes & Company Inc. now owns 12,495 shares of the company’s stock valued at $1,136,000 after purchasing an additional 118 shares in the last quarter. Redhawk Wealth Advisors Inc. increased its stake in Colgate-Palmolive by 2.4% during the 2nd quarter. Redhawk Wealth Advisors Inc. now owns 5,467 shares of the company’s stock valued at $497,000 after purchasing an additional 129 shares in the last quarter. MONECO Advisors LLC increased its stake in Colgate-Palmolive by 2.2% during the 1st quarter. MONECO Advisors LLC now owns 6,051 shares of the company’s stock valued at $567,000 after purchasing an additional 133 shares in the last quarter. Finally, Ledyard National Bank increased its stake in Colgate-Palmolive by 4.5% during the 1st quarter. Ledyard National Bank now owns 3,094 shares of the company’s stock valued at $290,000 after purchasing an additional 134 shares in the last quarter. Institutional investors own 80.41% of the company’s stock.

Analyst Upgrades and Downgrades

CL has been the subject of a number of research analyst reports. JPMorgan Chase & Co. reduced their price target on shares of Colgate-Palmolive from $99.00 to $95.00 and set an “overweight” rating for the company in a research note on Monday, August 4th. Bank of America reduced their price target on shares of Colgate-Palmolive from $98.00 to $88.00 and set a “buy” rating for the company in a research note on Wednesday. The Goldman Sachs Group reduced their price target on shares of Colgate-Palmolive from $106.00 to $91.00 and set a “buy” rating for the company in a research note on Thursday, October 2nd. Morgan Stanley reduced their price target on shares of Colgate-Palmolive from $104.00 to $96.00 and set an “overweight” rating for the company in a research note on Monday, August 4th. Finally, 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 price target for the company. Eight investment analysts have rated the stock with a Buy rating, five have assigned a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $93.23.

Colgate-Palmolive Stock Performance

Shares of NYSE CL opened at $77.96 on Thursday. The firm has a 50 day moving average of $82.79 and a 200 day moving average of $88.08. The company has a current ratio of 0.89, a quick ratio of 0.57 and a debt-to-equity ratio of 6.79. The firm has a market capitalization 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. Colgate-Palmolive Company has a 12-month low of $77.09 and a 12-month high of $102.61.

Colgate-Palmolive (NYSE:CL) last announced its earnings results on Friday, August 1st. The company reported $0.92 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.89 by $0.03. The company had revenue of $5.11 billion during the quarter, compared to analyst estimates of $5.03 billion. Colgate-Palmolive had a net margin of 14.55% and a return on equity of 377.63%. The firm’s quarterly revenue was up 1.0% compared to the same quarter last year. During the same period in the previous year, the business posted $0.91 earnings per share. On average, research analysts anticipate 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 given a $0.52 dividend. This represents a $2.08 dividend on an annualized basis and a dividend yield of 2.7%. The ex-dividend date is Friday, October 17th. Colgate-Palmolive’s dividend payout ratio 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.