Profund Advisors LLC Sells 2,105 Shares of Colgate-Palmolive Company $CL

Profund Advisors LLC decreased its position in shares of Colgate-Palmolive Company (NYSE:CL) by 15.7% during the second quarter, HoldingsChannel reports. The institutional investor owned 11,299 shares of the company’s stock after selling 2,105 shares during the period. Profund Advisors LLC’s holdings in Colgate-Palmolive were worth $1,027,000 as of its most recent SEC filing.

A number of other hedge funds also recently added to or reduced their stakes in CL. Westside Investment Management Inc. increased its holdings in shares of Colgate-Palmolive by 85.5% in the 2nd quarter. Westside Investment Management Inc. now owns 282 shares of the company’s stock worth $26,000 after purchasing an additional 130 shares in the last quarter. Saudi Central Bank bought a new position in shares of Colgate-Palmolive during the first quarter valued at $29,000. Ransom Advisory Ltd purchased a new stake in shares of Colgate-Palmolive during the first quarter valued at $33,000. Y.D. More Investments Ltd bought a new stake in Colgate-Palmolive in the 1st quarter worth about $37,000. Finally, Atticus Wealth Management LLC raised its position in Colgate-Palmolive by 156.8% in the 2nd quarter. Atticus Wealth Management LLC now owns 488 shares of the company’s stock worth $44,000 after buying an additional 298 shares during the last quarter. 80.41% of the stock is currently owned by hedge funds and other institutional investors.

Colgate-Palmolive Price Performance

Shares of Colgate-Palmolive stock opened at $79.53 on Wednesday. The stock has a market cap of $64.11 billion, a P/E ratio of 22.34, a P/E/G ratio of 4.44 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’s fifty day moving average is $79.52 and its 200 day moving average is $85.44. Colgate-Palmolive Company has a one year low of $74.54 and a one year high of $100.18.

Colgate-Palmolive (NYSE:CL) last posted its quarterly earnings results on Friday, October 31st. The company reported $0.91 earnings per share for the quarter, topping analysts’ consensus estimates of $0.89 by $0.02. The business had revenue of $5.13 billion during the quarter, compared to analyst estimates of $5.17 billion. Colgate-Palmolive had a net margin of 14.55% and a return on equity of 377.63%. The company’s revenue was up 1.9% on a year-over-year basis. During the same period in the prior year, the business posted $0.91 earnings per share. Sell-side analysts anticipate that Colgate-Palmolive Company will post 3.75 earnings per share for the current year.

Colgate-Palmolive Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, November 14th. Investors of record on Friday, October 17th will be issued a $0.52 dividend. The ex-dividend date of this dividend is Friday, October 17th. This represents a $2.08 dividend on an annualized basis and a yield of 2.6%. Colgate-Palmolive’s payout ratio is currently 58.26%.

Wall Street Analyst Weigh In

A number of analysts have recently commented on the stock. Piper Sandler began 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. Raymond James Financial dropped their target price on shares of Colgate-Palmolive from $105.00 to $95.00 and set an “outperform” rating on the stock in a report on Monday, October 20th. UBS Group cut their target price on shares of Colgate-Palmolive from $92.00 to $90.00 and set a “buy” rating for the company in a research report on Monday, November 3rd. Bank of America lowered their price target on Colgate-Palmolive from $98.00 to $88.00 and set a “buy” rating on the stock in a report on Wednesday, October 8th. Finally, JPMorgan Chase & Co. cut their price objective on Colgate-Palmolive from $88.00 to $87.00 and set an “overweight” rating for the company in a report 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 company’s stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target 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.