Boston Trust Walden Corp Lowers Position in Colgate-Palmolive Company $CL

Boston Trust Walden Corp trimmed its holdings in shares of Colgate-Palmolive Company (NYSE:CL) by 32.0% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 162,684 shares of the company’s stock after selling 76,415 shares during the period. Boston Trust Walden Corp’s holdings in Colgate-Palmolive were worth $13,005,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also modified their holdings of the business. Vanguard Group Inc. boosted its stake in shares of 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 purchasing an additional 993,432 shares in the last quarter. Norges Bank purchased a new stake in Colgate-Palmolive during the second quarter worth $960,390,000. Invesco Ltd. boosted its position in Colgate-Palmolive by 9.1% during the 2nd quarter. Invesco Ltd. now owns 7,489,050 shares of the company’s stock valued at $680,755,000 after acquiring an additional 621,841 shares in the last quarter. Acadian Asset Management LLC increased its holdings in shares of Colgate-Palmolive by 42.9% in the 2nd quarter. Acadian Asset Management LLC now owns 6,124,347 shares of the company’s stock valued at $556,663,000 after acquiring an additional 1,839,853 shares during the period. Finally, Schroder Investment Management Group raised its position in shares of Colgate-Palmolive by 242.3% in the 2nd quarter. Schroder Investment Management Group now owns 5,324,115 shares of the company’s stock worth $483,962,000 after acquiring an additional 3,768,784 shares in the last quarter. Institutional investors own 80.41% of the company’s stock.

Analysts Set New Price Targets

Several research firms have issued reports on CL. UBS Group cut their target price on Colgate-Palmolive from $92.00 to $90.00 and set a “buy” rating on the stock in a research note on Monday, November 3rd. JPMorgan Chase & Co. raised their price target on shares of Colgate-Palmolive from $87.00 to $88.00 and gave the company an “overweight” rating in a report on Thursday, December 18th. Argus reiterated a “hold” rating on shares of Colgate-Palmolive in a research note on Thursday, December 11th. Bank of America lowered their target price on shares of Colgate-Palmolive from $98.00 to $88.00 and set a “buy” rating for the company in a research note on Wednesday, October 8th. Finally, The Goldman Sachs Group reduced their price target on Colgate-Palmolive from $106.00 to $91.00 and set a “buy” rating on the stock in a research report on Thursday, October 2nd. Ten equities research analysts have rated the stock with a Buy rating, five have assigned a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $88.81.

Colgate-Palmolive Stock Performance

Shares of Colgate-Palmolive stock opened at $79.51 on Wednesday. The company has a 50 day moving average price of $78.54 and a 200 day moving average price of $82.46. The firm has a market capitalization of $64.09 billion, a P/E ratio of 22.27, a PEG ratio of 5.68 and a beta of 0.30. The company has a quick ratio of 0.60, a current ratio of 0.93 and a debt-to-equity ratio of 5.90. Colgate-Palmolive Company has a 52 week low of $74.54 and a 52 week high of $100.18.

Colgate-Palmolive (NYSE:CL) last issued its quarterly earnings results on Friday, October 31st. The company reported $0.91 earnings per share (EPS) for the quarter, beating 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 business had revenue of $5.13 billion for the quarter, compared to analyst estimates of $5.17 billion. During the same quarter in the prior year, the business posted $0.91 EPS. Colgate-Palmolive’s revenue for the quarter 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 company also recently declared a quarterly dividend, which will be paid on Friday, February 13th. Shareholders of record on Wednesday, January 21st will be given a dividend of $0.52 per share. The ex-dividend date of this dividend is Wednesday, January 21st. This represents a $2.08 dividend on an annualized basis and a yield of 2.6%. Colgate-Palmolive’s payout ratio is currently 58.26%.

Colgate-Palmolive Company Profile

Colgate-Palmolive Company is a global consumer products company with a long history in household and personal care categories. The business traces its roots to the early 19th century and has evolved into a multinational manufacturer and marketer of everyday consumer goods focused on health, hygiene and home care.

The company’s core activities center on oral care, personal care, home care and pet nutrition. Its product portfolio includes toothpaste, toothbrushes and mouthwash in oral care; soaps, body washes and deodorants in personal care; dishwashing liquids, surface cleaners and other household products in home care; and scientifically formulated pet foods under its pet nutrition business.