Ashton Thomas Private Wealth LLC Acquires 1,133 Shares of Colgate-Palmolive Company $CL

Ashton Thomas Private Wealth LLC boosted its holdings in shares of Colgate-Palmolive Company (NYSE:CL) by 7.3% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 16,737 shares of the company’s stock after purchasing an additional 1,133 shares during the period. Ashton Thomas Private Wealth LLC’s holdings in Colgate-Palmolive were worth $1,521,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Grimes & Company Inc. increased its holdings in shares of Colgate-Palmolive by 1.0% during the second quarter. Grimes & Company Inc. now owns 12,495 shares of the company’s stock worth $1,136,000 after buying an additional 118 shares in the last quarter. RFG Advisory LLC increased its holdings in Colgate-Palmolive by 1.4% in the second quarter. RFG Advisory LLC now owns 9,227 shares of the company’s stock valued at $839,000 after purchasing an additional 123 shares during the period. Redhawk Wealth Advisors Inc. increased its holdings in Colgate-Palmolive by 2.4% in the second 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 during the period. MONECO Advisors LLC increased its holdings in Colgate-Palmolive by 2.2% in the first quarter. MONECO Advisors LLC now owns 6,051 shares of the company’s stock valued at $567,000 after purchasing an additional 133 shares during the period. Finally, Sowell Financial Services LLC increased its holdings in Colgate-Palmolive by 2.5% in the second quarter. Sowell Financial Services LLC now owns 5,478 shares of the company’s stock valued at $498,000 after purchasing an additional 134 shares during the period. 80.41% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of research firms recently weighed in on CL. Wells Fargo & Company decreased their price objective on Colgate-Palmolive from $83.00 to $80.00 and set an “underweight” rating for the company in a report on Thursday, September 25th. Piper Sandler assumed coverage on Colgate-Palmolive in a report on Friday, October 3rd. They issued a “neutral” rating and a $84.00 price objective for the company. The Goldman Sachs Group cut their price target on shares of Colgate-Palmolive from $106.00 to $91.00 and set a “buy” rating on the stock in a research report on Thursday, October 2nd. Citigroup cut their price target on shares of Colgate-Palmolive from $108.00 to $105.00 and set a “buy” rating on the stock in a research report on Monday, August 4th. Finally, Weiss Ratings reaffirmed a “hold (c)” rating on shares of Colgate-Palmolive in a research report on Wednesday, October 8th. Eight investment analysts have rated the stock with a Buy rating, five have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, Colgate-Palmolive currently has a consensus rating of “Moderate Buy” and a consensus price target of $91.50.

Colgate-Palmolive Price Performance

CL stock opened at $77.10 on Wednesday. The stock has a market capitalization of $62.31 billion, a PE ratio of 21.66, a price-to-earnings-growth ratio of 4.57 and a beta of 0.34. The company’s 50-day moving average is $81.03 and its 200-day moving average is $86.71. The company has a debt-to-equity ratio of 6.79, a current ratio of 0.89 and a quick ratio of 0.57. Colgate-Palmolive Company has a 1 year low of $76.68 and a 1 year high of $100.18.

Colgate-Palmolive (NYSE:CL) last released its quarterly earnings data on Friday, August 1st. The company reported $0.92 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.89 by $0.03. Colgate-Palmolive had a net margin of 14.55% and a return on equity of 377.63%. The company had revenue of $5.11 billion for the quarter, compared to analysts’ expectations of $5.03 billion. During the same quarter in the prior year, the firm earned $0.91 EPS. The business’s revenue was up 1.0% on a year-over-year basis. Equities research analysts expect that Colgate-Palmolive Company will post 3.75 EPS for the current fiscal year.

Colgate-Palmolive Dividend Announcement

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 given a $0.52 dividend. 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 dividend payout ratio (DPR) 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.