Allianz SE Reduces Holdings in Colgate-Palmolive Company $CL

Allianz SE reduced its position in Colgate-Palmolive Company (NYSE:CL) by 5.2% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 95,665 shares of the company’s stock after selling 5,226 shares during the period. Allianz SE’s holdings in Colgate-Palmolive were worth $8,696,000 at the end of the most recent quarter.

A number of other institutional investors have also modified their holdings of CL. Cidel Asset Management Inc. increased its stake in shares of Colgate-Palmolive by 13.6% in the second quarter. Cidel Asset Management Inc. now owns 329,060 shares of the company’s stock valued at $29,912,000 after purchasing an additional 39,413 shares during the period. Sequoia Financial Advisors LLC lifted its holdings in shares of Colgate-Palmolive by 18.6% during the second quarter. Sequoia Financial Advisors LLC now owns 30,273 shares of the company’s stock valued at $2,752,000 after purchasing an additional 4,738 shares during the last quarter. Welch Group LLC boosted its stake in Colgate-Palmolive by 1.5% in the 2nd quarter. Welch Group LLC now owns 665,041 shares of the company’s stock worth $60,452,000 after purchasing an additional 9,689 shares during the period. Arista Wealth Management LLC acquired a new stake in Colgate-Palmolive during the 2nd quarter worth about $571,000. Finally, Mraz Amerine & Associates Inc. purchased a new stake in Colgate-Palmolive in the 2nd quarter worth approximately $300,000. Institutional investors and hedge funds own 80.41% of the company’s stock.

Colgate-Palmolive Price Performance

CL opened at $78.57 on Thursday. Colgate-Palmolive Company has a 12 month low of $74.54 and a 12 month high of $100.18. The company has a quick ratio of 0.57, a current ratio of 0.89 and a debt-to-equity ratio of 6.79. The stock has a market cap of $63.33 billion, a P/E ratio of 22.07, a P/E/G ratio of 4.44 and a beta of 0.35. The company has a fifty day simple moving average of $79.42 and a 200 day simple moving average of $85.39.

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

Colgate-Palmolive Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, November 14th. Stockholders of record on Friday, October 17th will be issued a $0.52 dividend. The ex-dividend date is Friday, October 17th. This represents a $2.08 dividend on an annualized basis and a dividend yield of 2.6%. Colgate-Palmolive’s dividend payout ratio (DPR) is 58.26%.

Analyst Upgrades and Downgrades

Several research analysts have recently commented on CL shares. Evercore ISI dropped their price target 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, November 3rd. Wells Fargo & Company cut their price target on Colgate-Palmolive from $80.00 to $77.00 and set an “underweight” rating for the company in a report on Monday, November 3rd. Barclays dropped their price target on shares of Colgate-Palmolive from $82.00 to $80.00 and set an “equal weight” rating for the company in a research report on Tuesday, November 4th. Raymond James Financial cut their price target on shares of Colgate-Palmolive from $105.00 to $95.00 and set an “outperform” rating for the company in a report on Monday, October 20th. Finally, JPMorgan Chase & Co. decreased their price objective on shares of Colgate-Palmolive from $88.00 to $87.00 and set an “overweight” rating on the stock in a report on Monday, November 3rd. Nine investment analysts have rated the stock with a Buy rating, five have assigned a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $89.87.

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.