Modera Wealth Management LLC Lowers Position in Colgate-Palmolive Company $CL

Modera Wealth Management LLC lowered its stake in shares of Colgate-Palmolive Company (NYSE:CL) by 5.6% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 90,159 shares of the company’s stock after selling 5,389 shares during the quarter. Modera Wealth Management LLC’s holdings in Colgate-Palmolive were worth $7,684,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also bought and sold shares of the stock. Kemnay Advisory Services Inc. purchased a new stake in Colgate-Palmolive in the 4th quarter valued at about $25,000. CBIZ Investment Advisory Services LLC grew its holdings in shares of Colgate-Palmolive by 86.7% in the fourth quarter. CBIZ Investment Advisory Services LLC now owns 323 shares of the company’s stock valued at $26,000 after acquiring an additional 150 shares in the last quarter. TD Capital Management LLC grew its stake in Colgate-Palmolive by 61.4% in the 4th quarter. TD Capital Management LLC now owns 326 shares of the company’s stock valued at $26,000 after purchasing an additional 124 shares during the period. Triumph Capital Management raised its stake in shares of Colgate-Palmolive by 62.9% during the 4th quarter. Triumph Capital Management now owns 329 shares of the company’s stock worth $26,000 after purchasing an additional 127 shares during the period. Finally, Jessup Wealth Management Inc bought a new stake in shares of Colgate-Palmolive during the 4th quarter worth $26,000. 80.41% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

CL has been the topic of a number of research analyst reports. Bank of America dropped their target price on shares of Colgate-Palmolive from $105.00 to $102.00 and set a “buy” rating on the stock in a research note on Friday, April 10th. TD Cowen restated a “hold” rating and set a $85.00 price target on shares of Colgate-Palmolive in a research note on Tuesday, March 31st. Rothschild & Co Redburn set a $100.00 price target on shares of Colgate-Palmolive and gave the stock a “buy” rating in a report on Tuesday, April 21st. JPMorgan Chase & Co. raised their target price on Colgate-Palmolive from $96.00 to $104.00 and gave the stock an “overweight” rating in a research report on Thursday. Finally, Morgan Stanley reaffirmed an “overweight” rating on shares of Colgate-Palmolive in a research report on Monday, May 4th. Twelve analysts have rated the stock with a Buy rating and seven have given a Hold rating to the company’s stock. According to data from MarketBeat, Colgate-Palmolive has a consensus rating of “Moderate Buy” and a consensus target price of $97.41.

Colgate-Palmolive Price Performance

Colgate-Palmolive stock opened at $92.84 on Friday. The firm has a market capitalization of $74.29 billion, a P/E ratio of 36.12, a PEG ratio of 4.90 and a beta of 0.33. Colgate-Palmolive Company has a one year low of $74.54 and a one year high of $99.33. The company has a debt-to-equity ratio of 16.33, a current ratio of 1.02 and a quick ratio of 0.67. The business has a fifty day moving average price of $90.46 and a 200-day moving average price of $88.54.

Colgate-Palmolive (NYSE:CL) last released its quarterly earnings data on Friday, May 1st. The company reported $0.97 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.94 by $0.03. The company had revenue of $5.32 billion for the quarter, compared to analyst estimates of $5.22 billion. Colgate-Palmolive had a return on equity of 386.76% and a net margin of 10.04%.The firm’s revenue for the quarter was up 8.4% compared to the same quarter last year. During the same period in the previous year, the company posted $0.91 EPS. As a group, equities research analysts forecast that Colgate-Palmolive Company will post 3.81 EPS for the current year.

Colgate-Palmolive Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, August 14th. Stockholders of record on Monday, July 20th will be given a dividend of $0.53 per share. This represents a $2.12 dividend on an annualized basis and a dividend yield of 2.3%. The ex-dividend date is Monday, July 20th. Colgate-Palmolive’s payout ratio is 82.49%.

Colgate-Palmolive Company Profile

Colgate-Palmolive Company is a global consumer products company with a long history in household and personal care categories. The business traces its roots to the early 19th century and has evolved into a multinational manufacturer and marketer of everyday consumer goods focused on health, hygiene and home care.

The company’s core activities center on oral care, personal care, home care and pet nutrition. Its product portfolio includes toothpaste, toothbrushes and mouthwash in oral care; soaps, body washes and deodorants in personal care; dishwashing liquids, surface cleaners and other household products in home care; and scientifically formulated pet foods under its pet nutrition business.