Kennon Green & Company LLC Trims Stake in Colgate-Palmolive Company $CL

Kennon Green & Company LLC lessened its position in shares of Colgate-Palmolive Company (NYSE:CL) by 3.1% during the second quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 11,832 shares of the company’s stock after selling 374 shares during the quarter. Colgate-Palmolive comprises 0.9% of Kennon Green & Company LLC’s investment portfolio, making the stock its 29th biggest holding. Kennon Green & Company LLC’s holdings in Colgate-Palmolive were worth $1,089,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in CL. Brighton Jones LLC increased its holdings in shares of Colgate-Palmolive by 4.4% in the 4th quarter. Brighton Jones LLC now owns 10,578 shares of the company’s stock valued at $962,000 after acquiring an additional 450 shares during the period. GAMMA Investing LLC increased its stake in Colgate-Palmolive by 14.2% in the first quarter. GAMMA Investing LLC now owns 11,797 shares of the company’s stock valued at $1,105,000 after purchasing an additional 1,468 shares during the period. Elevation Point Wealth Partners LLC raised its holdings in shares of Colgate-Palmolive by 8.3% in the first quarter. Elevation Point Wealth Partners LLC now owns 3,572 shares of the company’s stock valued at $335,000 after buying an additional 273 shares during the last quarter. Wealth Enhancement Advisory Services LLC raised its holdings in shares of Colgate-Palmolive by 23.8% in the first quarter. Wealth Enhancement Advisory Services LLC now owns 329,826 shares of the company’s stock valued at $30,905,000 after buying an additional 63,419 shares during the last quarter. Finally, Bank Pictet & Cie Europe AG acquired a new stake in shares of Colgate-Palmolive during the first quarter worth about $228,000. Hedge funds and other institutional investors own 80.41% of the company’s stock.

Colgate-Palmolive Stock Up 1.9%

Shares of NYSE CL opened at $78.43 on Wednesday. The stock has a market capitalization of $63.39 billion, a price-to-earnings ratio of 22.03, a price-to-earnings-growth ratio of 4.24 and a beta of 0.34. Colgate-Palmolive Company has a 52 week low of $76.68 and a 52 week high of $102.61. The firm has a 50-day moving average price of $82.34 and a 200 day moving average price of $87.67. The company has a quick ratio of 0.57, a current ratio of 0.89 and a debt-to-equity ratio of 6.79.

Colgate-Palmolive (NYSE:CL) last issued its 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 company had revenue of $5.11 billion during the quarter, compared to analysts’ expectations of $5.03 billion. Colgate-Palmolive had a net margin of 14.55% and a return on equity of 377.63%. The firm’s quarterly revenue was up 1.0% compared to the same quarter last year. During the same period last year, the company posted $0.91 earnings per share. Equities research analysts anticipate that Colgate-Palmolive Company will post 3.75 EPS for the current fiscal year.

Colgate-Palmolive Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, November 14th. Shareholders of record on Friday, October 17th will be given a dividend of $0.52 per share. This represents a $2.08 dividend on an annualized basis and a yield of 2.7%. The ex-dividend date is Friday, October 17th. Colgate-Palmolive’s payout ratio is presently 58.43%.

Analysts Set New Price Targets

Several analysts have commented on CL shares. Bank of America reduced their price objective on Colgate-Palmolive from $98.00 to $88.00 and set a “buy” rating for the company in a research note on Wednesday, October 8th. The Goldman Sachs Group cut their price target on Colgate-Palmolive from $106.00 to $91.00 and set a “buy” rating for the company in a research note on Thursday, October 2nd. JPMorgan Chase & Co. decreased their price target on Colgate-Palmolive from $95.00 to $88.00 and set an “overweight” rating for the company in a report on Friday, October 10th. UBS Group dropped their price objective on shares of Colgate-Palmolive from $99.00 to $92.00 and set a “buy” rating on the stock in a research note on Wednesday, October 8th. Finally, Piper Sandler assumed coverage on shares of Colgate-Palmolive in a research report on Friday, October 3rd. They set a “neutral” rating and a $84.00 price objective for the company. Eight research analysts have rated the stock with a Buy rating, five have given a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, Colgate-Palmolive presently has an average rating of “Moderate Buy” and a consensus target price of $92.21.

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.