Hibernia Wealth Partners LLC Makes New Investment in Colgate-Palmolive Company $CL

Hibernia Wealth Partners LLC purchased a new position in Colgate-Palmolive Company (NYSE:CL) in the second quarter, Holdings Channel.com reports. The firm purchased 2,493 shares of the company’s stock, valued at approximately $227,000.

A number of other hedge funds have also recently made changes to their positions in CL. Westside Investment Management Inc. lifted its holdings in 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 purchased a new position in shares of Colgate-Palmolive in the first quarter worth $29,000. Ransom Advisory Ltd bought a new position in shares of Colgate-Palmolive during the 1st quarter valued at about $33,000. Y.D. More Investments Ltd bought a new position in shares of Colgate-Palmolive during the 1st quarter valued at about $37,000. Finally, Atticus Wealth Management LLC grew its position in shares of Colgate-Palmolive by 156.8% during the second quarter. Atticus Wealth Management LLC now owns 488 shares of the company’s stock valued at $44,000 after purchasing an additional 298 shares in the last quarter. Institutional investors own 80.41% of the company’s stock.

Colgate-Palmolive Stock Performance

NYSE CL opened at $78.71 on Friday. The company has a market cap of $63.45 billion, a P/E ratio of 22.11, a P/E/G ratio of 4.44 and a beta of 0.35. The business’s 50 day moving average price is $79.32 and its 200-day moving average price is $85.35. Colgate-Palmolive Company has a fifty-two week low of $74.54 and a fifty-two week high of $100.18. 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 posted its quarterly earnings data on Friday, October 31st. The company reported $0.91 EPS for the quarter, topping the consensus estimate of $0.89 by $0.02. Colgate-Palmolive had a net margin of 14.55% and a return on equity of 377.63%. The company had revenue of $5.13 billion during the quarter, compared to analyst estimates of $5.17 billion. During the same period in the previous year, the firm earned $0.91 earnings per share. Colgate-Palmolive’s quarterly revenue was up 1.9% compared to the same quarter last year. Sell-side analysts predict 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. Investors of record on Friday, October 17th will be issued a dividend of $0.52 per share. This represents a $2.08 annualized dividend and a yield of 2.6%. The ex-dividend date is Friday, October 17th. Colgate-Palmolive’s dividend payout ratio is presently 58.26%.

Analyst Ratings Changes

A number of research firms recently commented on CL. Piper Sandler assumed coverage on Colgate-Palmolive in a research report on Friday, October 3rd. They issued a “neutral” rating and a $84.00 target price on the stock. The Goldman Sachs Group decreased their price objective on Colgate-Palmolive from $106.00 to $91.00 and set a “buy” rating on the stock in a report on Thursday, October 2nd. JPMorgan Chase & Co. lowered their target price on Colgate-Palmolive from $88.00 to $87.00 and set an “overweight” rating for the company in a research report on Monday, November 3rd. Evercore ISI reduced their price target on shares of Colgate-Palmolive from $100.00 to $94.00 and set an “outperform” rating on the stock in a research report on Monday, November 3rd. Finally, Barclays lowered their price objective on shares of Colgate-Palmolive from $82.00 to $80.00 and set an “equal weight” rating for the company in a research report on Tuesday, November 4th. Nine research 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. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $89.87.

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.