Baird Financial Group Inc. Sells 15,457 Shares of Colgate-Palmolive Company $CL

Baird Financial Group Inc. lowered its holdings in shares of Colgate-Palmolive Company (NYSE:CL) by 9.4% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 149,272 shares of the company’s stock after selling 15,457 shares during the quarter. Baird Financial Group Inc.’s holdings in Colgate-Palmolive were worth $13,569,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also recently bought and sold shares of the company. Vanguard Group Inc. raised its holdings in Colgate-Palmolive by 1.2% during the second quarter. Vanguard Group Inc. now owns 82,751,689 shares of the company’s stock valued at $7,522,129,000 after buying an additional 993,432 shares in the last quarter. Price T Rowe Associates Inc. MD increased its holdings in shares of Colgate-Palmolive by 18.3% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 34,009,078 shares of the company’s stock valued at $3,186,651,000 after acquiring an additional 5,269,140 shares during the last quarter. Norges Bank bought a new position in shares of Colgate-Palmolive in the 2nd quarter valued at approximately $960,390,000. Invesco Ltd. lifted its holdings in Colgate-Palmolive by 9.1% in the 2nd quarter. Invesco Ltd. now owns 7,489,050 shares of the company’s stock worth $680,755,000 after purchasing an additional 621,841 shares during the last quarter. Finally, Ameriprise Financial Inc. boosted its position in Colgate-Palmolive by 2.6% during the first quarter. Ameriprise Financial Inc. now owns 6,976,654 shares of the company’s stock worth $653,761,000 after purchasing an additional 177,833 shares during the period. 80.41% of the stock is currently owned by institutional investors.

Colgate-Palmolive Stock Performance

Shares of NYSE CL opened at $78.04 on Monday. The firm has a market capitalization of $62.91 billion, a price-to-earnings ratio of 21.86, a PEG ratio of 5.56 and a beta of 0.30. Colgate-Palmolive Company has a one year low of $74.54 and a one year high of $100.18. The business has a fifty day simple moving average of $78.42 and a 200 day simple moving average of $83.99. The company has a current ratio of 0.93, a quick ratio of 0.60 and a debt-to-equity ratio of 5.90.

Colgate-Palmolive (NYSE:CL) last posted its quarterly earnings results on Friday, October 31st. The company reported $0.91 earnings per share for the quarter, topping analysts’ consensus estimates of $0.89 by $0.02. Colgate-Palmolive had a net margin of 14.47% and a return on equity of 333.39%. The firm had revenue of $5.13 billion for the quarter, compared to the consensus estimate of $5.17 billion. During the same quarter in the previous year, the company earned $0.91 earnings per share. The business’s revenue was up 1.9% compared to the same quarter last year. Sell-side analysts expect that Colgate-Palmolive Company will post 3.75 EPS for the current year.

Colgate-Palmolive Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, November 14th. Investors of record on Friday, October 17th were given a $0.52 dividend. This represents a $2.08 annualized dividend and a yield of 2.7%. The ex-dividend date of this dividend was Friday, October 17th. Colgate-Palmolive’s dividend payout ratio is 58.26%.

Wall Street Analyst Weigh In

A number of research firms have recently commented on CL. Raymond James Financial reduced their price objective on shares of Colgate-Palmolive from $105.00 to $95.00 and set an “outperform” rating for the company in a research note on Monday, October 20th. Barclays cut their target price 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. Evercore ISI decreased their price target on shares of Colgate-Palmolive from $100.00 to $94.00 and set an “outperform” rating for the company in a report on Monday, November 3rd. Weiss Ratings reiterated a “hold (c)” rating on shares of Colgate-Palmolive in a research note on Wednesday, October 8th. Finally, UBS Group decreased their target price on Colgate-Palmolive from $92.00 to $90.00 and set a “buy” 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 company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target 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.