State Street Corp Trims Stock Position in Colgate-Palmolive Company $CL

State Street Corp cut its holdings in shares of Colgate-Palmolive Company (NYSE:CL) by 0.4% during the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 48,474,785 shares of the company’s stock after selling 208,473 shares during the quarter. State Street Corp owned about 0.06% of Colgate-Palmolive worth $3,830,478,000 at the end of the most recent quarter.

Other large investors have also recently added to or reduced their stakes in the company. Citigroup Inc. lifted its position in Colgate-Palmolive by 43.7% during the third quarter. Citigroup Inc. now owns 1,346,590 shares of the company’s stock worth $107,646,000 after buying an additional 409,710 shares during the period. Teacher Retirement System of Texas lifted its position in Colgate-Palmolive by 35.3% during the fourth quarter. Teacher Retirement System of Texas now owns 469,624 shares of the company’s stock worth $37,110,000 after buying an additional 122,634 shares during the period. GAMMA Investing LLC raised its holdings in shares of Colgate-Palmolive by 114.2% in the 4th quarter. GAMMA Investing LLC now owns 23,329 shares of the company’s stock worth $1,843,000 after purchasing an additional 12,437 shares during the period. Grantham Mayo Van Otterloo & Co. LLC raised its holdings in shares of Colgate-Palmolive by 217.0% in the 3rd quarter. Grantham Mayo Van Otterloo & Co. LLC now owns 40,605 shares of the company’s stock worth $3,246,000 after purchasing an additional 27,796 shares during the period. Finally, Avior Wealth Management LLC purchased a new position in shares of Colgate-Palmolive in the 4th quarter worth about $1,135,000. 80.41% of the stock is currently owned by hedge funds and other institutional investors.

Colgate-Palmolive Price Performance

CL stock opened at $89.40 on Friday. The company has a debt-to-equity ratio of 16.33, a quick ratio of 0.67 and a current ratio of 1.02. Colgate-Palmolive Company has a 1 year low of $74.54 and a 1 year high of $99.33. The firm has a market cap of $71.54 billion, a P/E ratio of 34.79, a price-to-earnings-growth ratio of 4.71 and a beta of 0.33. The stock has a 50-day simple moving average of $86.85 and a 200-day simple moving average of $86.25.

Colgate-Palmolive (NYSE:CL) last posted its earnings results on Friday, May 1st. The company reported $0.97 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.94 by $0.03. Colgate-Palmolive had a return on equity of 386.76% and a net margin of 10.04%.The business had revenue of $5.32 billion during the quarter, compared to analyst estimates of $5.22 billion. During the same quarter last year, the firm earned $0.91 earnings per share. The company’s revenue for the quarter was up 8.4% compared to the same quarter last year. On average, equities analysts predict that Colgate-Palmolive Company will post 3.81 earnings per share for the current fiscal year.

Colgate-Palmolive Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, August 14th. Stockholders of record on Monday, July 20th will be paid a $0.53 dividend. The ex-dividend date is Monday, July 20th. This represents a $2.12 dividend on an annualized basis and a dividend yield of 2.4%. Colgate-Palmolive’s dividend payout ratio (DPR) is 82.49%.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on the company. TD Cowen restated a “hold” rating and issued a $85.00 price objective on shares of Colgate-Palmolive in a report on Tuesday, March 31st. Wall Street Zen downgraded Colgate-Palmolive from a “buy” rating to a “hold” rating in a report on Sunday, March 29th. Bank of America cut their price objective on Colgate-Palmolive from $105.00 to $102.00 and set a “buy” rating on the stock in a report on Friday, April 10th. Royal Bank Of Canada restated an “outperform” rating and issued a $102.00 price objective on shares of Colgate-Palmolive in a report on Monday, May 4th. Finally, UBS Group raised their price objective on Colgate-Palmolive from $98.00 to $100.00 and gave the stock a “buy” rating in a report on Monday, May 4th. Twelve analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the stock. According to MarketBeat, Colgate-Palmolive currently has an average rating of “Moderate Buy” and a consensus target price of $95.88.

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.