Colgate-Palmolive Company $CL Stake Lessened by California Public Employees Retirement System

California Public Employees Retirement System decreased its holdings in shares of Colgate-Palmolive Company (NYSE:CL) by 4.4% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 3,536,836 shares of the company’s stock after selling 162,754 shares during the quarter. California Public Employees Retirement System’s holdings in Colgate-Palmolive were worth $321,498,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also recently bought and sold shares of the company. Grimes & Company Inc. grew its stake in Colgate-Palmolive by 1.0% during the 2nd quarter. Grimes & Company Inc. now owns 12,495 shares of the company’s stock valued at $1,136,000 after acquiring an additional 118 shares in the last quarter. RFG Advisory LLC boosted its holdings in shares of Colgate-Palmolive by 1.4% during the second quarter. RFG Advisory LLC now owns 9,227 shares of the company’s stock worth $839,000 after purchasing an additional 123 shares during the period. Tiemann Investment Advisors LLC grew its position in Colgate-Palmolive by 2.1% during the second quarter. Tiemann Investment Advisors LLC now owns 6,083 shares of the company’s stock valued at $553,000 after purchasing an additional 125 shares in the last quarter. Redhawk Wealth Advisors Inc. increased its stake in Colgate-Palmolive by 2.4% in the 2nd quarter. Redhawk Wealth Advisors Inc. now owns 5,467 shares of the company’s stock valued at $497,000 after buying an additional 129 shares during the period. Finally, Westside Investment Management Inc. lifted its position in Colgate-Palmolive by 85.5% in the 2nd quarter. Westside Investment Management Inc. now owns 282 shares of the company’s stock worth $26,000 after buying an additional 130 shares in the last quarter. 80.41% of the stock is owned by hedge funds and other institutional investors.

Colgate-Palmolive Stock Up 0.6%

CL opened at $78.04 on Friday. The firm has a market cap of $62.91 billion, a P/E ratio of 21.86, a price-to-earnings-growth ratio of 5.56 and a beta of 0.30. The company has a debt-to-equity ratio of 5.90, a quick ratio of 0.60 and a current ratio of 0.93. The business has a 50 day moving average price of $78.42 and a 200 day moving average price of $84.04. Colgate-Palmolive Company has a twelve month low of $74.54 and a twelve month high of $100.18.

Colgate-Palmolive (NYSE:CL) last released its quarterly earnings results on Friday, October 31st. The company reported $0.91 EPS for the quarter, beating analysts’ consensus estimates of $0.89 by $0.02. The company had revenue of $5.13 billion for the quarter, compared to analyst estimates of $5.17 billion. Colgate-Palmolive had a net margin of 14.47% and a return on equity of 333.39%. The company’s quarterly revenue was up 1.9% compared to the same quarter last year. During the same quarter last year, the firm posted $0.91 earnings per share. Research analysts forecast that Colgate-Palmolive Company will post 3.75 EPS for the current year.

Colgate-Palmolive Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, November 14th. Shareholders of record on Friday, October 17th were given a dividend of $0.52 per share. The ex-dividend date of this dividend was Friday, October 17th. This represents a $2.08 dividend on an annualized basis and a yield of 2.7%. Colgate-Palmolive’s payout ratio is currently 58.26%.

Analyst Upgrades and Downgrades

Several research firms have recently commented on CL. Bank of America lowered their price target on shares of Colgate-Palmolive from $98.00 to $88.00 and set a “buy” rating on the stock in a report on Wednesday, October 8th. JPMorgan Chase & Co. lowered their target price on Colgate-Palmolive from $88.00 to $87.00 and set an “overweight” rating on the stock in a research note on Monday, November 3rd. Piper Sandler began coverage on Colgate-Palmolive in a research note on Friday, October 3rd. They set a “neutral” rating and a $84.00 price target for the company. Wells Fargo & Company lowered their price target on Colgate-Palmolive from $80.00 to $77.00 and set an “underweight” rating for the company in a research note on Monday, November 3rd. Finally, The Goldman Sachs Group dropped their price objective on Colgate-Palmolive from $106.00 to $91.00 and set a “buy” rating on the stock in a report on Thursday, October 2nd. Nine equities research analysts have rated the stock with a Buy rating, five have issued a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $89.87.

Colgate-Palmolive Company 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.