NewEdge Advisors LLC Raises Stock Holdings in Colgate-Palmolive Company $CL

NewEdge Advisors LLC increased its position in Colgate-Palmolive Company (NYSE:CL) by 5.9% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 501,412 shares of the company’s stock after buying an additional 27,749 shares during the period. NewEdge Advisors LLC’s holdings in Colgate-Palmolive were worth $45,578,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Westside Investment Management Inc. grew its position in shares of Colgate-Palmolive by 85.5% in the second quarter. Westside Investment Management Inc. now owns 282 shares of the company’s stock valued at $26,000 after purchasing an additional 130 shares during the period. Saudi Central Bank acquired a new stake in Colgate-Palmolive in the 1st quarter worth about $29,000. Vermillion & White Wealth Management Group LLC grew its holdings in Colgate-Palmolive by 86.1% in the 2nd quarter. Vermillion & White Wealth Management Group LLC now owns 335 shares of the company’s stock valued at $30,000 after buying an additional 155 shares during the period. Ransom Advisory Ltd acquired a new position in shares of Colgate-Palmolive during the 1st quarter valued at about $33,000. Finally, MTM Investment Management LLC purchased a new position in shares of Colgate-Palmolive during the 2nd quarter worth about $39,000. 80.41% of the stock is owned by hedge funds and other institutional investors.

Colgate-Palmolive Stock Up 1.1%

Shares of NYSE:CL opened at $76.97 on Wednesday. The firm has a market cap of $62.04 billion, a PE ratio of 21.56, a price-to-earnings-growth ratio of 5.42 and a beta of 0.30. The company has a fifty day simple moving average of $78.28 and a 200 day simple moving average of $83.78. The company has a current ratio of 0.93, a quick ratio of 0.60 and a debt-to-equity ratio of 5.90. Colgate-Palmolive Company has a 12-month low of $74.54 and a 12-month high of $100.18.

Colgate-Palmolive (NYSE:CL) last announced its quarterly earnings data on Friday, October 31st. The company reported $0.91 earnings per share for the quarter, beating the consensus estimate of $0.89 by $0.02. The firm had revenue of $5.13 billion during the quarter, compared to analyst estimates of $5.17 billion. Colgate-Palmolive had a return on equity of 333.39% and a net margin of 14.47%.Colgate-Palmolive’s quarterly revenue was up 1.9% on a year-over-year basis. During the same period in the previous year, the company earned $0.91 earnings per share. On average, equities research analysts anticipate that Colgate-Palmolive Company will post 3.75 EPS for the current fiscal year.

Colgate-Palmolive Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, November 14th. Stockholders of record on Friday, October 17th were issued a dividend of $0.52 per share. The ex-dividend date of this dividend was Friday, October 17th. This represents a $2.08 annualized dividend and a dividend yield of 2.7%. Colgate-Palmolive’s payout ratio is 58.26%.

Analyst Ratings Changes

A number of analysts have recently commented on CL shares. Raymond James Financial dropped their price objective on Colgate-Palmolive from $105.00 to $95.00 and set an “outperform” rating for the company in a report on Monday, October 20th. Citigroup cut their price objective on Colgate-Palmolive from $105.00 to $95.00 and set a “buy” rating on the stock in a report on Monday, November 3rd. Weiss Ratings reiterated a “hold (c)” rating on shares of Colgate-Palmolive in a report on Wednesday, October 8th. Morgan Stanley dropped their target price on shares of Colgate-Palmolive from $96.00 to $87.00 and set an “overweight” rating for the company in a research report on Monday, November 3rd. Finally, The Goldman Sachs Group reduced 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. Ten investment analysts have rated the stock with a Buy rating, four have issued a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $89.00.

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.