Brooklyn Investment Group Trims Position in Colgate-Palmolive Company $CL

Brooklyn Investment Group lessened its stake in shares of Colgate-Palmolive Company (NYSE:CL) by 9.5% during the 1st quarter, Holdings Channel reports. The fund owned 5,035 shares of the company’s stock after selling 529 shares during the quarter. Brooklyn Investment Group’s holdings in Colgate-Palmolive were worth $472,000 at the end of the most recent quarter.

Several other institutional investors have also modified their holdings of the stock. Summit Securities Group LLC purchased a new position in shares of Colgate-Palmolive during the 1st quarter worth $136,000. Freestone Capital Holdings LLC increased its position in shares of Colgate-Palmolive by 2.4% during the 1st quarter. Freestone Capital Holdings LLC now owns 43,190 shares of the company’s stock worth $4,047,000 after purchasing an additional 1,004 shares during the last quarter. Algert Global LLC increased its position in shares of Colgate-Palmolive by 32.1% during the 1st quarter. Algert Global LLC now owns 67,176 shares of the company’s stock worth $6,294,000 after purchasing an additional 16,338 shares during the last quarter. Seven Mile Advisory increased its position in shares of Colgate-Palmolive by 33.0% during the 1st quarter. Seven Mile Advisory now owns 2,964 shares of the company’s stock worth $278,000 after purchasing an additional 736 shares during the last quarter. Finally, Northwest & Ethical Investments L.P. increased its position in shares of Colgate-Palmolive by 93.8% during the 1st quarter. Northwest & Ethical Investments L.P. now owns 235,989 shares of the company’s stock worth $22,112,000 after purchasing an additional 114,245 shares during the last quarter. Hedge funds and other institutional investors own 80.41% of the company’s stock.

Colgate-Palmolive Stock Performance

Shares of CL opened at $84.30 on Tuesday. The stock has a 50-day simple moving average of $88.07 and a 200-day simple moving average of $89.98. The company has a debt-to-equity ratio of 6.79, a quick ratio of 0.57 and a current ratio of 0.89. The stock has a market capitalization of $68.13 billion, a PE ratio of 23.68, a PEG ratio of 4.42 and a beta of 0.35. Colgate-Palmolive Company has a 1 year low of $82.40 and a 1 year high of $109.30.

Colgate-Palmolive (NYSE:CL) last posted its earnings results on Friday, August 1st. The company reported $0.92 earnings per share for the quarter, topping the consensus estimate of $0.89 by $0.03. The firm had revenue of $5.11 billion during the quarter, compared to analysts’ expectations of $5.03 billion. Colgate-Palmolive had a return on equity of 377.63% and a net margin of 14.55%. The firm’s revenue was up 1.0% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.91 earnings per share. On average, analysts predict that Colgate-Palmolive Company will post 3.75 earnings per share for the current fiscal year.

Colgate-Palmolive Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, August 15th. Investors of record on Friday, July 18th were issued a $0.52 dividend. This represents a $2.08 dividend on an annualized basis and a yield of 2.5%. The ex-dividend date of this dividend was Friday, July 18th. Colgate-Palmolive’s dividend payout ratio is 58.43%.

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on the company. Wells Fargo & Company cut their price objective on Colgate-Palmolive from $88.00 to $83.00 and set an “underweight” rating for the company in a research report on Monday, August 4th. UBS Group cut their price objective on Colgate-Palmolive from $109.00 to $106.00 and set a “buy” rating for the company in a research report on Thursday, July 17th. Barclays raised their price objective on Colgate-Palmolive from $86.00 to $87.00 and gave the stock an “equal weight” rating in a research report on Tuesday, July 15th. Citigroup cut their price objective on Colgate-Palmolive from $108.00 to $105.00 and set a “buy” rating for the company in a research report on Monday, August 4th. Finally, JPMorgan Chase & Co. lowered their target price on Colgate-Palmolive from $99.00 to $95.00 and set an “overweight” rating for the company in a report on Monday, August 4th. One analyst has rated the stock with a sell rating, five have assigned a hold rating and seven have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $98.92.

Colgate-Palmolive Profile

Colgate-Palmolive Company, together with its subsidiaries, manufactures and sells consumer products in the United States and internationally. It operates through two segments: Oral, Personal and Home Care; and Pet Nutrition. The Oral, Personal and Home Care segment offers toothpaste, toothbrushes, mouthwash, bar and liquid hand soaps, shower gels, shampoos, conditioners, deodorants and antiperspirants, skin health products, dishwashing detergents, fabric conditioners, household cleaners, and other related items.