California Public Employees Retirement System reduced its position in shares of Colgate-Palmolive (NYSE:CL – Get Rating) by 2.0% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 5,827,876 shares of the company's stock after selling 118,662 shares during the period. California Public Employees Retirement System owned about 0.70% of Colgate-Palmolive worth $409,408,000 at the end of the most recent reporting period.
Other institutional investors have also recently added to or reduced their stakes in the company. Capital Asset Advisory Services LLC grew its stake in shares of Colgate-Palmolive by 2.8% in the second quarter. Capital Asset Advisory Services LLC now owns 4,599 shares of the company's stock worth $369,000 after purchasing an additional 127 shares in the last quarter. Avidian Wealth Solutions LLC lifted its holdings in shares of Colgate-Palmolive by 1.2% during the second quarter. Avidian Wealth Solutions LLC now owns 11,345 shares of the company's stock valued at $909,000 after purchasing an additional 130 shares during the last quarter. Barings LLC lifted its holdings in shares of Colgate-Palmolive by 3.8% during the second quarter. Barings LLC now owns 3,516 shares of the company's stock valued at $282,000 after purchasing an additional 130 shares during the last quarter. Belpointe Asset Management LLC lifted its holdings in shares of Colgate-Palmolive by 1.6% during the second quarter. Belpointe Asset Management LLC now owns 8,159 shares of the company's stock valued at $653,000 after purchasing an additional 131 shares during the last quarter. Finally, Crewe Advisors LLC lifted its holdings in shares of Colgate-Palmolive by 26.8% during the second quarter. Crewe Advisors LLC now owns 634 shares of the company's stock valued at $51,000 after purchasing an additional 134 shares during the last quarter. 77.63% of the stock is currently owned by institutional investors.
Get Colgate-Palmolive alerts:Colgate-Palmolive Stock Performance
Shares of Colgate-Palmolive stock opened at $74.00 on Monday. The firm has a market cap of $61.81 billion, a price-to-earnings ratio of 34.88, a price-to-earnings-growth ratio of 3.86 and a beta of 0.50. The stock's 50-day moving average is $77.37 and its 200-day moving average is $76.51. Colgate-Palmolive has a one year low of $67.84 and a one year high of $83.81. The company has a debt-to-equity ratio of 7.81, a current ratio of 0.40 and a quick ratio of 0.24.
Colgate-Palmolive (NYSE:CL – Get Rating) last released its earnings results on Friday, January 27th. The company reported $0.77 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.77. The business had revenue of $4.63 billion for the quarter, compared to analyst estimates of $4.58 billion. Colgate-Palmolive had a return on equity of 317.08% and a net margin of 9.93%. Colgate-Palmolive's revenue was up 5.1% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.79 earnings per share. Equities analysts predict that Colgate-Palmolive will post 3.1 earnings per share for the current fiscal year.Colgate-Palmolive Announces Dividend
The company also recently announced a quarterly dividend, which will be paid on Tuesday, February 14th. Stockholders of record on Monday, January 23rd will be given a $0.47 dividend. This represents a $1.88 annualized dividend and a dividend yield of 2.54%. The ex-dividend date of this dividend is Friday, January 20th. Colgate-Palmolive's payout ratio is 88.26%.
Wall Street Analysts Forecast Growth
Several equities research analysts recently issued reports on CL shares. The Goldman Sachs Group reduced their price objective on Colgate-Palmolive from $91.00 to $81.00 and set a "buy" rating for the company in a research note on Monday, October 10th. Wolfe Research began coverage on Colgate-Palmolive in a research report on Monday, November 21st. They issued a "market perform" rating on the stock. Wells Fargo & Company dropped their target price on Colgate-Palmolive from $80.00 to $76.00 and set an "equal weight" rating on the stock in a research report on Monday, January 30th. JPMorgan Chase & Co. increased their price objective on Colgate-Palmolive from $81.00 to $86.00 and gave the company an "overweight" rating in a report on Friday, January 13th. Finally, TheStreet lowered Colgate-Palmolive from a "b" rating to a "c+" rating in a report on Friday, January 27th. Six investment analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $81.90.
Colgate-Palmolive Profile
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Colgate-Palmolive Co is engaged in the manufacturing and distribution of consumer products. It operates through Oral, Personal and Home Care and Pet Nutrition segments. The Oral, Personal and Home Care segment represents North America, Latin America, Europe, Asia Pacific, and Africa or Eurasia, all of which sell to a variety of retail and wholesale customers and distributors.
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