Advisors Asset Management Inc. Reduces Stake in Colgate-Palmolive Company $CL

Advisors Asset Management Inc. lessened its stake in shares of Colgate-Palmolive Company (NYSE:CL) by 10.8% during the 2nd quarter, according to its most recent 13F filing with the SEC. The firm owned 78,980 shares of the company’s stock after selling 9,599 shares during the period. Advisors Asset Management Inc.’s holdings in Colgate-Palmolive were worth $7,179,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Westside Investment Management Inc. grew its holdings in shares of Colgate-Palmolive by 85.5% in the second quarter. Westside Investment Management Inc. now owns 282 shares of the company’s stock worth $26,000 after purchasing an additional 130 shares during the last quarter. Saudi Central Bank purchased a new stake in Colgate-Palmolive during the first quarter valued at approximately $29,000. Ransom Advisory Ltd purchased a new position in Colgate-Palmolive during the 1st quarter worth $33,000. Y.D. More Investments Ltd acquired a new stake in Colgate-Palmolive in the 1st quarter worth approximately $37,000. Finally, MTM Investment Management LLC purchased a new position in shares of Colgate-Palmolive in the second quarter worth about $39,000. 80.41% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several equities analysts have recently issued reports on the company. Morgan Stanley decreased their price objective on Colgate-Palmolive from $96.00 to $87.00 and set an “overweight” rating for the company in a report on Monday, November 3rd. Barclays cut their target price on Colgate-Palmolive from $82.00 to $80.00 and set an “equal weight” rating on the stock in a research report on Tuesday, November 4th. Deutsche Bank Aktiengesellschaft set a $86.00 target price on Colgate-Palmolive in a report on Friday, October 10th. Raymond James Financial decreased their price target on 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 for the company in a research note on Monday, November 3rd. Nine research analysts have rated the stock with a Buy rating, five have issued a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, Colgate-Palmolive presently has an average rating of “Moderate Buy” and a consensus price target of $89.87.

Colgate-Palmolive Price Performance

Colgate-Palmolive stock opened at $79.83 on Wednesday. Colgate-Palmolive Company has a one year low of $74.54 and a one year high of $100.18. 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 has a market cap of $64.35 billion, a P/E ratio of 22.42, a price-to-earnings-growth ratio of 4.44 and a beta of 0.35. The business has a fifty day moving average of $78.64 and a two-hundred day moving average of $84.60.

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 return on equity of 377.63% and a net margin of 14.55%.The business had revenue of $5.13 billion for the quarter, compared to analyst estimates of $5.17 billion. During the same quarter in the previous year, the company earned $0.91 EPS. The company’s quarterly revenue was up 1.9% on a year-over-year basis. As a group, analysts predict that Colgate-Palmolive Company will post 3.75 earnings per share for the current fiscal year.

Colgate-Palmolive Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, November 14th. Stockholders of record on Friday, October 17th were given a $0.52 dividend. This represents a $2.08 annualized dividend and a dividend yield of 2.6%. The ex-dividend date was Friday, October 17th. Colgate-Palmolive’s dividend payout ratio is currently 58.26%.

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.