Pictet Asset Management Holding SA Reduces Holdings in Colgate-Palmolive Company $CL

Pictet Asset Management Holding SA reduced its position in Colgate-Palmolive Company (NYSE:CL) by 1.2% in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 453,860 shares of the company’s stock after selling 5,586 shares during the quarter. Pictet Asset Management Holding SA owned about 0.06% of Colgate-Palmolive worth $38,682,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Norges Bank acquired a new stake in shares of Colgate-Palmolive in the fourth quarter valued at about $861,670,000. Northwestern Mutual Wealth Management Co. grew its stake in Colgate-Palmolive by 8,040.1% during the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 4,655,987 shares of the company’s stock valued at $380,666,000 after acquiring an additional 4,598,789 shares in the last quarter. Balyasny Asset Management L.P. acquired a new stake in Colgate-Palmolive in the 4th quarter valued at about $236,682,000. Deutsche Bank AG lifted its stake in Colgate-Palmolive by 33.9% in the 4th quarter. Deutsche Bank AG now owns 10,845,857 shares of the company’s stock worth $857,040,000 after purchasing an additional 2,746,920 shares in the last quarter. Finally, Franklin Resources Inc. lifted its stake in Colgate-Palmolive by 47.4% in the 4th quarter. Franklin Resources Inc. now owns 6,044,168 shares of the company’s stock worth $477,610,000 after purchasing an additional 1,942,946 shares in the last quarter. Institutional investors and hedge funds own 80.41% of the company’s stock.

Colgate-Palmolive Stock Down 0.8%

CL stock opened at $91.68 on Wednesday. The firm has a market cap of $73.36 billion, a PE ratio of 35.67, a PEG ratio of 4.87 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. The firm’s 50 day moving average price is $88.36 and its 200-day moving average price is $87.33. Colgate-Palmolive Company has a one year low of $74.54 and a one year high of $99.33.

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

Colgate-Palmolive Announces Dividend

The firm also recently declared 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. This represents a $2.12 annualized dividend and a dividend yield of 2.3%. The ex-dividend date of this dividend is Monday, July 20th. Colgate-Palmolive’s dividend payout ratio is 82.49%.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently issued reports on CL shares. Wall Street Zen lowered Colgate-Palmolive from a “buy” rating to a “hold” rating in a research report on Sunday, March 29th. Royal Bank Of Canada reiterated an “outperform” rating and set a $102.00 price objective on shares of Colgate-Palmolive in a research report on Monday, May 4th. Morgan Stanley reissued an “overweight” rating on shares of Colgate-Palmolive in a research note on Monday, May 4th. The Goldman Sachs Group restated a “buy” rating on shares of Colgate-Palmolive in a report on Friday, May 1st. Finally, TD Cowen reaffirmed a “hold” rating and issued a $85.00 target price on shares of Colgate-Palmolive in a research note on Tuesday, March 31st. Twelve investment analysts have rated the stock with a Buy rating and seven have given a Hold rating to the stock. Based on data from MarketBeat, the company has a consensus 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.