New York State Common Retirement Fund Sells 304,605 Shares of Colgate-Palmolive Company $CL

New York State Common Retirement Fund reduced its stake in Colgate-Palmolive Company (NYSE:CL) by 24.8% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 922,107 shares of the company’s stock after selling 304,605 shares during the period. New York State Common Retirement Fund owned 0.11% of Colgate-Palmolive worth $73,713,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. Brighton Jones LLC grew its position in shares of Colgate-Palmolive by 4.4% during the 4th quarter. Brighton Jones LLC now owns 10,578 shares of the company’s stock worth $962,000 after buying an additional 450 shares in the last quarter. Woodline Partners LP grew its holdings in Colgate-Palmolive by 76.3% during the 1st quarter. Woodline Partners LP now owns 46,361 shares of the company’s stock worth $4,344,000 after acquiring an additional 20,062 shares in the last quarter. PFG Investments LLC grew its holdings in Colgate-Palmolive by 4.4% during the 2nd quarter. PFG Investments LLC now owns 23,119 shares of the company’s stock worth $2,101,000 after acquiring an additional 965 shares in the last quarter. Childress Capital Advisors LLC raised its holdings in shares of Colgate-Palmolive by 54.1% in the 2nd quarter. Childress Capital Advisors LLC now owns 3,411 shares of the company’s stock valued at $310,000 after purchasing an additional 1,197 shares in the last quarter. Finally, Trust Co. of Vermont lifted its position in shares of Colgate-Palmolive by 3.5% in the 2nd quarter. Trust Co. of Vermont now owns 21,345 shares of the company’s stock worth $1,940,000 after purchasing an additional 725 shares during the period. Institutional investors own 80.41% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts have weighed in on CL shares. Argus restated a “hold” rating on shares of Colgate-Palmolive in a report on Thursday, December 11th. Deutsche Bank Aktiengesellschaft set a $86.00 target price on Colgate-Palmolive in a research note on Friday, October 10th. Morgan Stanley decreased their price target on shares of Colgate-Palmolive from $96.00 to $87.00 and set an “overweight” rating for the company in a research report on Monday, November 3rd. Evercore ISI cut their price objective on shares of Colgate-Palmolive from $100.00 to $94.00 and set an “outperform” rating on the stock in a research report on Monday, November 3rd. Finally, Royal Bank Of Canada upgraded shares of Colgate-Palmolive from a “sector perform” rating to an “outperform” rating and set a $88.00 price objective for the company in a research note on Tuesday, December 9th. Eleven investment analysts have rated the stock with a Buy rating and five have given a Hold rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $89.44.

Colgate-Palmolive Trading Up 0.2%

Shares of Colgate-Palmolive stock opened at $85.14 on Friday. The firm’s 50 day simple moving average is $80.58 and its two-hundred day simple moving average is $81.42. The firm has a market capitalization of $68.63 billion, a price-to-earnings ratio of 23.85, a PEG ratio of 5.73 and a beta of 0.30. Colgate-Palmolive Company has a 12-month low of $74.54 and a 12-month high of $100.18. 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 announced its quarterly earnings data on Friday, October 31st. The company reported $0.91 earnings per share for the quarter, beating 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 analyst estimates of $5.17 billion. During the same period in the previous year, the company earned $0.91 earnings per share. The business’s quarterly revenue was up 1.9% compared to the same quarter last year. Analysts predict that Colgate-Palmolive Company will post 3.75 EPS for the current year.

Colgate-Palmolive Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, February 13th. Stockholders of record on Wednesday, January 21st will be issued a $0.52 dividend. The ex-dividend date of this dividend is Wednesday, January 21st. This represents a $2.08 dividend on an annualized basis and a dividend yield of 2.4%. Colgate-Palmolive’s dividend 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.