Colgate-Palmolive Company $CL Shares Sold by Concord Asset Management LLC VA

Concord Asset Management LLC VA decreased its holdings in Colgate-Palmolive Company (NYSE:CL) by 3.6% during the 2nd quarter, HoldingsChannel reports. The fund owned 14,504 shares of the company’s stock after selling 548 shares during the quarter. Concord Asset Management LLC VA’s holdings in Colgate-Palmolive were worth $1,318,000 as of its most recent SEC filing.

Several other institutional investors have also modified their holdings of the business. Westend Capital Management LLC raised its stake in Colgate-Palmolive by 111.1% during the first quarter. Westend Capital Management LLC now owns 266 shares of the company’s stock valued at $25,000 after buying an additional 140 shares in the last quarter. Cornerstone Planning Group LLC raised its stake in Colgate-Palmolive by 1,913.3% during the first quarter. Cornerstone Planning Group LLC now owns 302 shares of the company’s stock valued at $28,000 after buying an additional 287 shares in the last quarter. Saudi Central Bank acquired a new stake in Colgate-Palmolive during the first quarter valued at approximately $29,000. Ransom Advisory Ltd acquired a new stake in Colgate-Palmolive during the first quarter valued at approximately $33,000. Finally, Harel Insurance Investments & Financial Services Ltd. acquired a new stake in Colgate-Palmolive during the first quarter valued at approximately $37,000. Institutional investors and hedge funds own 80.41% of the company’s stock.

Analyst Ratings Changes

Several analysts have issued reports on CL shares. Morgan Stanley cut their price objective on Colgate-Palmolive from $104.00 to $96.00 and set an “overweight” rating on the stock in a research note on Monday, August 4th. Weiss Ratings restated a “hold (c)” rating on shares of Colgate-Palmolive in a research note on Wednesday, October 8th. JPMorgan Chase & Co. cut their price objective on Colgate-Palmolive from $95.00 to $88.00 and set an “overweight” rating on the stock in a research note on Friday. Deutsche Bank Aktiengesellschaft set a $86.00 price target on Colgate-Palmolive in a research report on Friday. Finally, The Goldman Sachs Group dropped their price target on Colgate-Palmolive from $106.00 to $91.00 and set a “buy” rating on the stock in a research report on Thursday, October 2nd. 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 company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $92.21.

Colgate-Palmolive Stock Performance

Shares of NYSE CL opened at $77.99 on Monday. The stock has a fifty day moving average price of $82.56 and a two-hundred day moving average price of $87.84. 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 $63.03 billion, a P/E ratio of 21.91, a PEG ratio of 4.29 and a beta of 0.34. Colgate-Palmolive Company has a 1 year low of $77.09 and a 1 year high of $102.61.

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

Colgate-Palmolive Announces Dividend

The business also recently disclosed 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 of this dividend 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.