Kingsview Wealth Management LLC Grows Holdings in Colgate-Palmolive (NYSE:CL)

Kingsview Wealth Management LLC grew its stake in shares of Colgate-Palmolive (NYSE:CL) by 133.9% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 36,120 shares of the company’s stock after purchasing an additional 20,676 shares during the quarter. Kingsview Wealth Management LLC’s holdings in Colgate-Palmolive were worth $3,284,000 at the end of the most recent quarter.

A number of other hedge funds have also recently made changes to their positions in the stock. CWM LLC grew its stake in Colgate-Palmolive by 28.7% in the 3rd quarter. CWM LLC now owns 35,216 shares of the company’s stock worth $3,656,000 after acquiring an additional 7,861 shares in the last quarter. Livforsakringsbolaget Skandia Omsesidigt boosted its holdings in shares of Colgate-Palmolive by 386.3% in the third quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 6,546 shares of the company’s stock valued at $679,000 after purchasing an additional 5,200 shares during the period. Fiduciary Financial Group LLC bought a new position in Colgate-Palmolive in the third quarter worth approximately $206,000. Valeo Financial Advisors LLC increased its holdings in Colgate-Palmolive by 1.1% during the 3rd quarter. Valeo Financial Advisors LLC now owns 11,928 shares of the company’s stock worth $1,238,000 after purchasing an additional 135 shares during the period. Finally, Gateway Investment Advisers LLC raised its position in Colgate-Palmolive by 3.0% during the 3rd quarter. Gateway Investment Advisers LLC now owns 14,054 shares of the company’s stock valued at $1,459,000 after purchasing an additional 412 shares in the last quarter. 80.41% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on CL. Morgan Stanley dropped their target price on shares of Colgate-Palmolive from $111.00 to $104.00 and set an “overweight” rating on the stock in a report on Monday, February 3rd. Raymond James reiterated an “outperform” rating and set a $105.00 price objective (down from $110.00) on shares of Colgate-Palmolive in a research note on Monday, February 3rd. Piper Sandler reduced their price objective on shares of Colgate-Palmolive from $121.00 to $112.00 and set an “overweight” rating for the company in a research note on Monday, January 6th. JPMorgan Chase & Co. dropped their target price on Colgate-Palmolive from $103.00 to $97.00 and set an “overweight” rating on the stock in a research report on Monday, February 3rd. Finally, Stifel Nicolaus reduced their price target on Colgate-Palmolive from $95.00 to $93.00 and set a “hold” rating for the company in a research report on Monday, February 3rd. One analyst has rated the stock with a sell rating, ten have assigned a hold rating and twelve have given a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $101.16.

Colgate-Palmolive Stock Up 1.3 %

Shares of CL stock opened at $86.81 on Monday. The company has a debt-to-equity ratio of 9.46, a quick ratio of 0.26 and a current ratio of 0.41. Colgate-Palmolive has a fifty-two week low of $82.68 and a fifty-two week high of $109.30. The firm has a market capitalization of $70.93 billion, a PE ratio of 24.66, a P/E/G ratio of 4.12 and a beta of 0.44. The stock’s 50-day simple moving average is $90.36 and its 200-day simple moving average is $96.77.

Colgate-Palmolive (NYSE:CL) last posted its quarterly earnings results on Friday, January 31st. The company reported $0.91 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.90 by $0.01. Colgate-Palmolive had a net margin of 14.38% and a return on equity of 477.77%. During the same quarter last year, the firm posted $0.87 earnings per share. Equities analysts expect that Colgate-Palmolive will post 3.73 earnings per share for the current year.

Colgate-Palmolive Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, February 14th. Shareholders of record on Tuesday, January 21st will be issued a $0.50 dividend. This represents a $2.00 annualized dividend and a yield of 2.30%. The ex-dividend date is Tuesday, January 21st. Colgate-Palmolive’s payout ratio is 56.82%.

Colgate-Palmolive 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.