Flossbach Von Storch SE Sells 14,022 Shares of Colgate-Palmolive Company $CL

Flossbach Von Storch SE reduced its position in Colgate-Palmolive Company (NYSE:CL) by 4.4% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 301,906 shares of the company’s stock after selling 14,022 shares during the period. Flossbach Von Storch SE’s holdings in Colgate-Palmolive were worth $24,134,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in the company. Vanguard Group Inc. raised its holdings in shares of Colgate-Palmolive by 1.2% during the 2nd quarter. Vanguard Group Inc. now owns 82,751,689 shares of the company’s stock worth $7,522,129,000 after acquiring an additional 993,432 shares in the last quarter. Norges Bank bought a new stake in Colgate-Palmolive in the second quarter worth $960,390,000. Invesco Ltd. raised its stake in Colgate-Palmolive by 9.1% during the second quarter. Invesco Ltd. now owns 7,489,050 shares of the company’s stock valued at $680,755,000 after purchasing an additional 621,841 shares in the last quarter. Acadian Asset Management LLC lifted its position in Colgate-Palmolive by 42.9% during the second quarter. Acadian Asset Management LLC now owns 6,124,347 shares of the company’s stock valued at $556,663,000 after purchasing an additional 1,839,853 shares during the last quarter. Finally, Schroder Investment Management Group grew its stake 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 buying an additional 3,768,784 shares in the last quarter. Hedge funds and other institutional investors own 80.41% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on CL. Deutsche Bank Aktiengesellschaft set a $86.00 target price on shares of Colgate-Palmolive in a research report on Friday, October 10th. Barclays set a $83.00 price objective on Colgate-Palmolive in a research report on Friday, January 16th. Royal Bank Of Canada upgraded Colgate-Palmolive from a “sector perform” rating to an “outperform” rating and set a $88.00 target price for the company in a report on Tuesday, December 9th. 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. Finally, Morgan Stanley lowered their price target on Colgate-Palmolive from $96.00 to $87.00 and set an “overweight” rating for the company in a research report on Monday, November 3rd. Eleven research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $89.44.

Colgate-Palmolive Price Performance

Shares of CL stock opened at $85.08 on Thursday. The stock has a 50 day moving average price of $80.46 and a 200 day moving average price of $81.39. Colgate-Palmolive Company has a 52-week low of $74.54 and a 52-week high of $100.18. The company has a debt-to-equity ratio of 5.90, a quick ratio of 0.60 and a current ratio of 0.93. The firm has a market capitalization of $68.58 billion, a P/E ratio of 23.83, a P/E/G ratio of 5.78 and a beta of 0.30.

Colgate-Palmolive (NYSE:CL) last announced its quarterly earnings data on Friday, October 31st. The company reported $0.91 EPS for the quarter, beating the consensus estimate of $0.89 by $0.02. Colgate-Palmolive had a return on equity of 333.39% and a net margin of 14.47%.The company had revenue of $5.13 billion for the quarter, compared to the consensus estimate of $5.17 billion. During the same quarter in the prior year, the company posted $0.91 EPS. Colgate-Palmolive’s quarterly revenue was up 1.9% on a year-over-year basis. As a group, sell-side analysts predict that Colgate-Palmolive Company will post 3.75 earnings per share for the current year.

Colgate-Palmolive Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, February 13th. Investors of record on Wednesday, January 21st will be issued a dividend of $0.52 per share. The ex-dividend date is Wednesday, January 21st. This represents a $2.08 dividend on an annualized basis and a yield of 2.4%. Colgate-Palmolive’s dividend payout ratio (DPR) is presently 58.26%.

About Colgate-Palmolive

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.