Apollon Wealth Management LLC Reduces Position in Colgate-Palmolive Company $CL

Apollon Wealth Management LLC lessened its position in shares of Colgate-Palmolive Company (NYSE:CL) by 1.0% during the second quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 29,316 shares of the company’s stock after selling 300 shares during the quarter. Apollon Wealth Management LLC’s holdings in Colgate-Palmolive were worth $2,665,000 as of its most recent SEC filing.

A number of other hedge funds have also recently added to or reduced their stakes in the company. Personal CFO Solutions LLC acquired a new stake in Colgate-Palmolive during the 1st quarter worth approximately $285,000. Vision Capital Management Inc. acquired a new stake in Colgate-Palmolive during the 1st quarter worth approximately $322,000. Autumn Glory Partners LLC lifted its position in Colgate-Palmolive by 67.4% during the 1st quarter. Autumn Glory Partners LLC now owns 8,905 shares of the company’s stock worth $851,000 after acquiring an additional 3,586 shares during the period. Financial Gravity Asset Management Inc. acquired a new stake in Colgate-Palmolive during the 1st quarter worth approximately $2,166,000. Finally, Penserra Capital Management LLC lifted its position in Colgate-Palmolive by 398.6% during the 1st quarter. Penserra Capital Management LLC now owns 10,651 shares of the company’s stock worth $997,000 after acquiring an additional 8,515 shares during the period. Hedge funds and other institutional investors own 80.41% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts have weighed in on CL shares. Citigroup decreased their price objective 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. Piper Sandler initiated coverage on Colgate-Palmolive in a report on Friday, October 3rd. They issued a “neutral” rating and a $84.00 price target for the company. Weiss Ratings reissued a “hold (c)” rating on shares of Colgate-Palmolive in a report on Wednesday, October 8th. Bank of America reduced their price target on Colgate-Palmolive from $98.00 to $88.00 and set a “buy” rating for the company in a report on Wednesday, October 8th. Finally, Deutsche Bank Aktiengesellschaft set a $86.00 price target on Colgate-Palmolive in a report on Friday. Eight investment analysts have rated the stock with a Buy rating, five have issued a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $92.21.

Colgate-Palmolive Stock Performance

Shares of CL stock opened at $77.99 on Monday. The stock has a fifty day moving average price of $82.56 and a 200 day moving average price of $87.84. The stock has a market cap of $63.03 billion, a PE ratio of 21.91, a P/E/G 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. The company has a debt-to-equity ratio of 6.79, a quick ratio of 0.57 and a current ratio of 0.89.

Colgate-Palmolive (NYSE:CL) last issued its quarterly earnings data on Friday, August 1st. The company reported $0.92 earnings per share (EPS) for the quarter, topping the consensus estimate 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%.Colgate-Palmolive’s revenue was up 1.0% on a year-over-year basis. During the same period in the previous year, the firm posted $0.91 earnings per share. Sell-side analysts forecast that Colgate-Palmolive Company will post 3.75 earnings per share for the current fiscal year.

Colgate-Palmolive Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, November 14th. Investors of record on Friday, October 17th will be issued 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 yield of 2.7%. Colgate-Palmolive’s payout ratio is currently 58.43%.

About Colgate-Palmolive

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.