Resona Asset Management Co. Ltd. Sells 7,805 Shares of Colgate-Palmolive Company $CL

Resona Asset Management Co. Ltd. reduced its position in Colgate-Palmolive Company (NYSE:CL) by 2.2% during the third quarter, Holdings Channel.com reports. The institutional investor owned 351,734 shares of the company’s stock after selling 7,805 shares during the period. Resona Asset Management Co. Ltd.’s holdings in Colgate-Palmolive were worth $28,148,000 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. Brighton Jones LLC grew its holdings in shares of Colgate-Palmolive by 4.4% in the fourth quarter. Brighton Jones LLC now owns 10,578 shares of the company’s stock valued at $962,000 after purchasing an additional 450 shares in the last quarter. Woodline Partners LP grew its stake in shares of Colgate-Palmolive by 76.3% in the 1st quarter. Woodline Partners LP now owns 46,361 shares of the company’s stock worth $4,344,000 after buying an additional 20,062 shares in the last quarter. Kathmere Capital Management LLC increased its holdings in shares of Colgate-Palmolive by 15.9% in the 2nd quarter. Kathmere Capital Management LLC now owns 16,798 shares of the company’s stock worth $1,527,000 after buying an additional 2,300 shares during the last quarter. Patton Fund Management Inc. purchased a new stake in shares of Colgate-Palmolive during the 2nd quarter valued at about $213,000. Finally, ORG Partners LLC lifted its holdings in shares of Colgate-Palmolive by 7.2% in the 2nd quarter. ORG Partners LLC now owns 2,152 shares of the company’s stock valued at $199,000 after acquiring an additional 144 shares during the last quarter. Hedge funds and other institutional investors own 80.41% of the company’s stock.

Analyst Upgrades and Downgrades

CL has been the topic of several analyst reports. Evercore ISI reduced their price objective on Colgate-Palmolive from $100.00 to $94.00 and set an “outperform” rating on the stock in a research note on Monday, November 3rd. Bank of America cut their target price on Colgate-Palmolive from $98.00 to $88.00 and set a “buy” rating on the stock in a research report on Wednesday, October 8th. Barclays set a $83.00 price target on Colgate-Palmolive in a research report on Friday, January 16th. Raymond James Financial cut their price objective on shares of Colgate-Palmolive from $105.00 to $95.00 and set an “outperform” rating on the stock in a research report on Monday, October 20th. Finally, Argus restated a “hold” rating on shares of Colgate-Palmolive in a report on Thursday, December 11th. Eleven analysts have rated the stock with a Buy rating and five have given a Hold rating to the company’s stock. Based on data from MarketBeat, Colgate-Palmolive presently has an average rating of “Moderate Buy” and an average price target of $89.44.

Colgate-Palmolive Stock Up 1.0%

NYSE:CL opened at $86.67 on Friday. Colgate-Palmolive Company has a twelve month low of $74.54 and a twelve month high of $100.18. The company has a market cap of $69.86 billion, a price-to-earnings ratio of 24.28, a price-to-earnings-growth ratio of 5.87 and a beta of 0.30. The stock has a fifty day simple moving average of $80.07 and a 200-day simple moving average of $81.50. 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 EPS 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 analysts’ expectations of $5.17 billion. During the same period in the prior year, the business posted $0.91 earnings per share. The business’s revenue for the quarter was up 1.9% on a year-over-year basis. Analysts anticipate that Colgate-Palmolive Company will post 3.75 EPS for the current year.

Colgate-Palmolive Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, February 13th. Stockholders of record on Wednesday, January 21st will be paid a dividend of $0.52 per share. This represents a $2.08 annualized dividend and a dividend yield of 2.4%. The ex-dividend date of this dividend is Wednesday, January 21st. 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.