Infusive Asset Management Inc. Cuts Position in Colgate-Palmolive Company $CL

Infusive Asset Management Inc. decreased its stake in Colgate-Palmolive Company (NYSE:CL) by 18.3% in the 1st quarter, Holdings Channel reports. The firm owned 47,816 shares of the company’s stock after selling 10,681 shares during the quarter. Colgate-Palmolive accounts for approximately 2.0% of Infusive Asset Management Inc.’s portfolio, making the stock its 22nd biggest position. Infusive Asset Management Inc.’s holdings in Colgate-Palmolive were worth $4,075,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors have also recently added to or reduced their stakes in the company. Dickmeyer Boyce Financial Management Inc. purchased a new stake in shares of Colgate-Palmolive during the 1st quarter worth approximately $382,000. Sei Investments Co. increased its stake in Colgate-Palmolive by 39.6% in the 1st quarter. Sei Investments Co. now owns 1,241,878 shares of the company’s stock valued at $105,848,000 after purchasing an additional 352,476 shares in the last quarter. Cetera Investment Advisers raised its holdings in Colgate-Palmolive by 27.0% during the first quarter. Cetera Investment Advisers now owns 387,355 shares of the company’s stock worth $33,014,000 after purchasing an additional 82,255 shares during the last quarter. Envision Financial Transparency LLC acquired a new position in Colgate-Palmolive during the first quarter worth $338,000. Finally, First Citizens Bank & Trust Co. boosted its position in Colgate-Palmolive by 4.5% during the first quarter. First Citizens Bank & Trust Co. now owns 13,483 shares of the company’s stock worth $1,149,000 after purchasing an additional 581 shares in the last quarter. Hedge funds and other institutional investors own 80.41% of the company’s stock.

Wall Street Analyst Weigh In

CL has been the subject of a number of research analyst reports. TD Cowen restated a “hold” rating and issued a $85.00 price target on shares of Colgate-Palmolive in a research report on Tuesday, March 31st. Deutsche Bank Aktiengesellschaft reissued a “buy” rating and issued a $99.00 price objective on shares of Colgate-Palmolive in a research note on Monday, May 4th. Barclays raised their target price on shares of Colgate-Palmolive from $80.00 to $87.00 and gave the company an “equal weight” rating in a report on Tuesday. Bank of America reduced their price target on shares of Colgate-Palmolive from $105.00 to $102.00 and set a “buy” rating on the stock in a report on Friday, April 10th. Finally, Wall Street Zen lowered shares of Colgate-Palmolive from a “buy” rating to a “hold” rating in a research report on Sunday, March 29th. Twelve investment analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $97.82.

Colgate-Palmolive Trading Down 1.8%

Colgate-Palmolive stock opened at $89.98 on Friday. The stock has a 50-day moving average price of $90.72 and a 200 day moving average price of $88.95. Colgate-Palmolive Company has a 52 week low of $74.54 and a 52 week high of $99.33. The stock has a market cap of $72.00 billion, a PE ratio of 35.01, a P/E/G ratio of 4.83 and a beta of 0.33. The company has a current ratio of 1.02, a quick ratio of 0.67 and a debt-to-equity ratio of 16.33.

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

Colgate-Palmolive Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, August 14th. Shareholders of record on Monday, July 20th will be issued a $0.53 dividend. The ex-dividend date is Monday, July 20th. This represents a $2.12 annualized dividend and a yield of 2.4%. Colgate-Palmolive’s payout ratio is 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.