BNP Paribas Lowers Stock Position in Colgate-Palmolive Company $CL

BNP Paribas trimmed its holdings in shares of Colgate-Palmolive Company (NYSE:CL) by 96.3% in the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 3,383 shares of the company’s stock after selling 89,127 shares during the period. BNP Paribas’ holdings in Colgate-Palmolive were worth $267,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also modified their holdings of the company. New Mexico Educational Retirement Board boosted its holdings in Colgate-Palmolive by 1.1% during the fourth quarter. New Mexico Educational Retirement Board now owns 37,030 shares of the company’s stock worth $2,926,000 after buying an additional 400 shares in the last quarter. Clear Harbor Asset Management LLC boosted its stake in shares of Colgate-Palmolive by 2.6% during the 4th quarter. Clear Harbor Asset Management LLC now owns 4,503 shares of the company’s stock worth $356,000 after acquiring an additional 113 shares in the last quarter. Waterloo Capital L.P. grew its holdings in shares of Colgate-Palmolive by 17.8% in the 4th quarter. Waterloo Capital L.P. now owns 5,452 shares of the company’s stock worth $431,000 after acquiring an additional 822 shares during the period. Nomura Asset Management Co. Ltd. grew its holdings in Colgate-Palmolive by 14.4% in the fourth quarter. Nomura Asset Management Co. Ltd. now owns 1,006,621 shares of the company’s stock valued at $79,543,000 after purchasing an additional 126,573 shares during the last quarter. Finally, Verity & Verity LLC acquired a new stake in Colgate-Palmolive in the fourth quarter valued at $412,000. 80.41% of the stock is owned by institutional investors and hedge funds.

Colgate-Palmolive Stock Performance

Shares of CL opened at $88.28 on Wednesday. Colgate-Palmolive Company has a 1 year low of $74.54 and a 1 year high of $99.33. The company’s 50 day simple moving average is $86.35 and its 200 day simple moving average is $85.75. The company has a market capitalization of $70.64 billion, a price-to-earnings ratio of 34.35, a PEG ratio of 4.59 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, topping the consensus estimate of $0.94 by $0.03. The firm had revenue of $5.32 billion during the quarter, compared to analysts’ expectations of $5.22 billion. Colgate-Palmolive had a net margin of 10.04% and a return on equity of 386.76%. Colgate-Palmolive’s revenue for the quarter was up 8.4% on a year-over-year basis. During the same period in the previous year, the company earned $0.91 EPS. On average, sell-side analysts predict that Colgate-Palmolive Company will post 3.82 EPS for the current year.

Colgate-Palmolive Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, May 15th. Stockholders of record on Monday, April 20th were given a $0.53 dividend. This is an increase from Colgate-Palmolive’s previous quarterly dividend of $0.52. This represents a $2.12 dividend on an annualized basis and a dividend yield of 2.4%. The ex-dividend date of this dividend was Monday, April 20th. Colgate-Palmolive’s dividend payout ratio (DPR) is presently 82.49%.

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on CL shares. Rothschild & Co Redburn set a $100.00 price objective on shares of Colgate-Palmolive and gave the stock a “buy” rating in a research report on Tuesday, April 21st. 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. UBS Group increased their price target on shares of Colgate-Palmolive from $98.00 to $100.00 and gave the company a “buy” rating in a research report on Monday, May 4th. TD Cowen reissued a “hold” rating and set a $85.00 price objective on shares of Colgate-Palmolive in a research note on Tuesday, March 31st. Finally, Wells Fargo & Company cut their price objective on Colgate-Palmolive from $100.00 to $92.00 and set an “equal weight” rating for the company in a research report on Wednesday, April 8th. Twelve research analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $95.88.

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.