Sovereign Financial Group Inc. Purchases 181 Shares of Colgate-Palmolive Company $CL

Sovereign Financial Group Inc. boosted its position in shares of Colgate-Palmolive Company (NYSE:CL) by 4.6% in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 4,132 shares of the company’s stock after purchasing an additional 181 shares during the period. Sovereign Financial Group Inc.’s holdings in Colgate-Palmolive were worth $376,000 at the end of the most recent quarter.

Several other institutional investors have also recently added to or reduced their stakes in the company. Westend Capital Management LLC lifted its position in shares of Colgate-Palmolive by 111.1% during the first quarter. Westend Capital Management LLC now owns 266 shares of the company’s stock worth $25,000 after purchasing an additional 140 shares in the last quarter. Cornerstone Planning Group LLC lifted its position in shares of Colgate-Palmolive by 1,913.3% during the first quarter. Cornerstone Planning Group LLC now owns 302 shares of the company’s stock worth $28,000 after purchasing an additional 287 shares in the last quarter. Saudi Central Bank acquired a new position in shares of Colgate-Palmolive during the first quarter worth approximately $29,000. Ransom Advisory Ltd acquired a new position in shares of Colgate-Palmolive during the first quarter worth approximately $33,000. Finally, Harel Insurance Investments & Financial Services Ltd. acquired a new position in shares of Colgate-Palmolive during the first quarter worth approximately $37,000. 80.41% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of equities analysts have recently issued reports on CL shares. UBS Group reduced their target price on shares of Colgate-Palmolive from $99.00 to $92.00 and set a “buy” rating on the stock in a research report on Wednesday. JPMorgan Chase & Co. reduced their target price on shares of Colgate-Palmolive from $95.00 to $88.00 and set an “overweight” rating on the stock in a research report on Friday. Citigroup reduced their target price 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. Morgan Stanley reduced their target price on shares of Colgate-Palmolive from $104.00 to $96.00 and set an “overweight” rating on the stock in a research report on Monday, August 4th. Finally, Bank of America reduced their target price on shares of Colgate-Palmolive from $98.00 to $88.00 and set a “buy” rating on the stock in a research report on Wednesday, October 8th. Eight investment analysts have rated the stock with a Buy rating, five have given a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $92.21.

Colgate-Palmolive Trading Up 0.2%

CL opened at $77.99 on Monday. The company has a debt-to-equity ratio of 6.79, a current ratio of 0.89 and a quick ratio of 0.57. The company has a market cap of $63.03 billion, a price-to-earnings ratio of 21.91, a price-to-earnings-growth ratio of 4.29 and a beta of 0.34. The firm has a 50 day simple moving average of $82.56 and a 200 day simple moving average of $87.84. Colgate-Palmolive Company has a fifty-two week low of $77.09 and a fifty-two week high of $102.61.

Colgate-Palmolive (NYSE:CL) last posted its quarterly earnings results on Friday, August 1st. The company reported $0.92 earnings per share for the quarter, topping analysts’ consensus estimates of $0.89 by $0.03. The business had revenue of $5.11 billion during the quarter, compared to the consensus estimate of $5.03 billion. Colgate-Palmolive had a net margin of 14.55% and a return on equity of 377.63%. Colgate-Palmolive’s revenue for the quarter was up 1.0% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.91 earnings per share. On average, sell-side analysts anticipate that Colgate-Palmolive Company will post 3.75 earnings per share for the current year.

Colgate-Palmolive Dividend Announcement

The company also recently disclosed 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. The ex-dividend date is Friday, October 17th. This represents a $2.08 dividend on an annualized basis and a yield of 2.7%. Colgate-Palmolive’s payout ratio is currently 58.43%.

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.