J. Safra Sarasin Holding AG Sells 10,855 Shares of Colgate-Palmolive Company $CL

J. Safra Sarasin Holding AG cut its holdings in shares of Colgate-Palmolive Company (NYSE:CL) by 1.6% during the 1st quarter, Holdings Channel.com reports. The firm owned 664,489 shares of the company’s stock after selling 10,855 shares during the quarter. J. Safra Sarasin Holding AG’s holdings in Colgate-Palmolive were worth $56,628,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Norges Bank purchased a new position in shares of Colgate-Palmolive in the fourth quarter worth about $861,670,000. Northwestern Mutual Wealth Management Co. boosted its stake in Colgate-Palmolive by 8,040.1% in the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 4,655,987 shares of the company’s stock worth $380,666,000 after purchasing an additional 4,598,789 shares during the period. Balyasny Asset Management L.P. bought a new position in Colgate-Palmolive in the 4th quarter worth about $236,682,000. Deutsche Bank AG grew its holdings in Colgate-Palmolive by 33.9% during the 4th quarter. Deutsche Bank AG now owns 10,845,857 shares of the company’s stock valued at $857,040,000 after buying an additional 2,746,920 shares in the last quarter. Finally, Diamant Asset Management Inc. grew its holdings in Colgate-Palmolive by 8,123.0% during the 1st quarter. Diamant Asset Management Inc. now owns 2,359,166 shares of the company’s stock valued at $201,072,000 after buying an additional 2,330,476 shares in the last quarter. Institutional investors own 80.41% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on the stock. Sanford C. Bernstein assumed coverage on shares of Colgate-Palmolive in a report on Thursday, June 11th. They issued a “market perform” rating and a $96.00 price target on the stock. JPMorgan Chase & Co. boosted their price objective on shares of Colgate-Palmolive from $95.00 to $96.00 and gave the company an “overweight” rating in a research note on Monday, May 4th. Deutsche Bank Aktiengesellschaft restated a “buy” rating and issued a $99.00 target price on shares of Colgate-Palmolive in a research note on Monday, May 4th. The Goldman Sachs Group reaffirmed a “buy” rating on shares of Colgate-Palmolive in a report on Friday, May 1st. Finally, Weiss Ratings upgraded shares of Colgate-Palmolive from a “hold (c)” rating to a “hold (c+)” rating in a research report on Monday, May 4th. Twelve investment analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $96.29.

Colgate-Palmolive Stock Performance

NYSE CL opened at $92.31 on Monday. Colgate-Palmolive Company has a 52-week low of $74.54 and a 52-week high of $99.33. The company has a fifty day moving average of $89.91 and a 200-day moving average of $88.17. The company has a market capitalization of $73.86 billion, a P/E ratio of 35.92, a P/E/G ratio of 4.86 and a beta of 0.33. 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 (NYSE:CL) last released its earnings results on Friday, May 1st. The company reported $0.97 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 for the quarter, compared to analysts’ expectations of $5.22 billion. During the same quarter in the prior year, the firm earned $0.91 earnings per share. The firm’s revenue was up 8.4% on a year-over-year basis. As a group, equities research analysts predict that Colgate-Palmolive Company will post 3.81 EPS for the current fiscal year.

Colgate-Palmolive Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, August 14th. Investors of record on Monday, July 20th will be given a $0.53 dividend. The ex-dividend date is Monday, July 20th. This represents a $2.12 dividend on an annualized basis and a yield of 2.3%. Colgate-Palmolive’s payout ratio is presently 82.49%.

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.