Sovereign Financial Group Inc. Has $376,000 Position in Colgate-Palmolive Company $CL

Sovereign Financial Group Inc. boosted its position in shares of Colgate-Palmolive Company (NYSE:CL) by 4.6% in the second quarter, according to the company in its most recent disclosure with the SEC. The firm owned 4,132 shares of the company’s stock after purchasing an additional 181 shares during the quarter. Sovereign Financial Group Inc.’s holdings in Colgate-Palmolive were worth $376,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in the stock. Concurrent Investment Advisors LLC boosted its holdings in shares of Colgate-Palmolive by 10.9% in the second quarter. Concurrent Investment Advisors LLC now owns 24,857 shares of the company’s stock valued at $2,259,000 after buying an additional 2,449 shares during the period. Fifth Third Wealth Advisors LLC boosted its holdings in shares of Colgate-Palmolive by 2.0% in the second quarter. Fifth Third Wealth Advisors LLC now owns 11,806 shares of the company’s stock valued at $1,073,000 after buying an additional 231 shares during the period. Natural Investments LLC boosted its holdings in shares of Colgate-Palmolive by 7.5% in the second quarter. Natural Investments LLC now owns 5,029 shares of the company’s stock valued at $457,000 after buying an additional 353 shares during the period. Aberdeen Group plc boosted its holdings in shares of Colgate-Palmolive by 4.0% in the second quarter. Aberdeen Group plc now owns 640,139 shares of the company’s stock valued at $58,189,000 after buying an additional 24,372 shares during the period. Finally, PDS Planning Inc boosted its holdings in shares of Colgate-Palmolive by 74.4% in the second quarter. PDS Planning Inc now owns 5,631 shares of the company’s stock valued at $512,000 after buying an additional 2,402 shares during the period. Institutional investors and hedge funds own 80.41% of the company’s stock.

Colgate-Palmolive Stock Performance

NYSE CL opened at $77.99 on Monday. The company has a current ratio of 0.89, a quick ratio of 0.57 and a debt-to-equity ratio of 6.79. The firm’s fifty day moving average price is $82.56 and its two-hundred day moving average price is $87.84. Colgate-Palmolive Company has a 1 year low of $77.09 and a 1 year high of $102.61. The firm has a market capitalization of $63.03 billion, a P/E ratio of 21.91, a price-to-earnings-growth ratio of 4.29 and a beta of 0.34.

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

Colgate-Palmolive Dividend Announcement

The company also recently declared 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 annualized dividend and a yield of 2.7%. The ex-dividend date of this dividend is Friday, October 17th. Colgate-Palmolive’s dividend payout ratio is 58.43%.

Wall Street Analyst Weigh In

Several research analysts have recently weighed in on CL shares. Wells Fargo & Company reduced their price target on shares of Colgate-Palmolive from $83.00 to $80.00 and set an “underweight” rating for the company in a report on Thursday, September 25th. Deutsche Bank Aktiengesellschaft set a $86.00 price target on shares of Colgate-Palmolive in a report on Friday. JPMorgan Chase & Co. reduced their price target on shares of Colgate-Palmolive from $95.00 to $88.00 and set an “overweight” rating for the company in a report on Friday. Piper Sandler assumed coverage on shares of Colgate-Palmolive in a research report on Friday, October 3rd. They issued a “neutral” rating and a $84.00 price objective on the stock. Finally, Citigroup cut their price objective 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. Eight equities research analysts have rated the stock with a Buy rating, five have assigned a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $92.21.

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.