Modera Wealth Management LLC Sells 7,257 Shares of Colgate-Palmolive Company $CL

Modera Wealth Management LLC decreased its holdings in Colgate-Palmolive Company (NYSE:CL) by 6.3% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 108,310 shares of the company’s stock after selling 7,257 shares during the quarter. Modera Wealth Management LLC’s holdings in Colgate-Palmolive were worth $9,845,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in CL. Westside Investment Management Inc. boosted its stake in shares of Colgate-Palmolive by 85.5% during the 2nd quarter. Westside Investment Management Inc. now owns 282 shares of the company’s stock worth $26,000 after acquiring an additional 130 shares during the last quarter. Cornerstone Planning Group LLC raised its holdings in Colgate-Palmolive by 1,913.3% in the 1st quarter. Cornerstone Planning Group LLC now owns 302 shares of the company’s stock worth $28,000 after purchasing an additional 287 shares during the period. Saudi Central Bank purchased a new position in Colgate-Palmolive during the first quarter valued at $29,000. Ransom Advisory Ltd purchased a new position in Colgate-Palmolive during the first quarter valued at $33,000. Finally, Y.D. More Investments Ltd bought a new stake in Colgate-Palmolive during the first quarter valued at about $37,000. 80.41% of the stock is owned by hedge funds and other institutional investors.

Colgate-Palmolive Price Performance

CL stock opened at $78.76 on Friday. The company has a debt-to-equity ratio of 6.79, a quick ratio of 0.57 and a current ratio of 0.89. The company’s fifty day moving average price is $79.73 and its 200-day moving average price is $85.77. Colgate-Palmolive Company has a one year low of $74.54 and a one year high of $100.18. The company has a market capitalization of $63.48 billion, a PE ratio of 22.12, a price-to-earnings-growth ratio of 4.44 and a beta of 0.35.

Colgate-Palmolive (NYSE:CL) last announced its quarterly earnings results on Friday, October 31st. The company reported $0.91 EPS for the quarter, topping the consensus estimate of $0.89 by $0.02. Colgate-Palmolive had a net margin of 14.55% and a return on equity of 377.63%. The business had revenue of $5.13 billion for the quarter, compared to analysts’ expectations of $5.17 billion. During the same quarter in the previous year, the company earned $0.91 EPS. The business’s quarterly revenue was up 1.9% compared to the same quarter last year. On average, equities analysts anticipate that Colgate-Palmolive Company will post 3.75 EPS for the current fiscal year.

Colgate-Palmolive Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, November 14th. Investors of record on Friday, October 17th will be given a $0.52 dividend. This represents a $2.08 dividend on an annualized basis and a dividend yield of 2.6%. The ex-dividend date is Friday, October 17th. Colgate-Palmolive’s payout ratio is currently 58.26%.

Analysts Set New Price Targets

A number of research analysts have recently weighed in on CL shares. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Colgate-Palmolive in a research report on Wednesday, October 8th. Barclays decreased their target price on shares of Colgate-Palmolive from $82.00 to $80.00 and set an “equal weight” rating on the stock in a research note on Tuesday. JPMorgan Chase & Co. dropped their price target on shares of Colgate-Palmolive from $88.00 to $87.00 and set an “overweight” rating for the company in a research report on Monday, November 3rd. Morgan Stanley decreased their price objective on shares of Colgate-Palmolive from $96.00 to $87.00 and set an “overweight” rating on the stock in a research report on Monday. Finally, Evercore ISI lowered their target price on shares of Colgate-Palmolive from $100.00 to $94.00 and set an “outperform” rating on the stock in a research note on Monday. Nine equities research analysts have rated the stock with a Buy rating, five have issued a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $89.87.

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.