Financial Gravity Asset Management Inc. Lowers Stock Holdings in Colgate-Palmolive (NYSE:CL)

Financial Gravity Asset Management Inc. lessened its holdings in shares of Colgate-Palmolive (NYSE:CLGet Rating) by 70.5% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 2,854 shares of the company’s stock after selling 6,815 shares during the quarter. Financial Gravity Asset Management Inc.’s holdings in Colgate-Palmolive were worth $200,000 at the end of the most recent quarter.

Several other hedge funds have also made changes to their positions in CL. Northern Trust Corp increased its stake in Colgate-Palmolive by 0.5% in the first quarter. Northern Trust Corp now owns 10,470,409 shares of the company’s stock valued at $793,971,000 after purchasing an additional 50,040 shares during the last quarter. Deutsche Bank AG increased its position in Colgate-Palmolive by 33.3% during the second quarter. Deutsche Bank AG now owns 10,441,903 shares of the company’s stock worth $836,815,000 after purchasing an additional 2,610,321 shares during the last quarter. Legal & General Group Plc increased its holdings in shares of Colgate-Palmolive by 4.1% during the 2nd quarter. Legal & General Group Plc now owns 7,709,706 shares of the company’s stock worth $617,858,000 after buying an additional 301,219 shares during the last quarter. Renaissance Technologies LLC grew its position in Colgate-Palmolive by 151.6% during the first quarter. Renaissance Technologies LLC now owns 5,688,786 shares of the company’s stock valued at $431,381,000 after acquiring an additional 3,427,400 shares during the period. Finally, Banque Pictet & Cie SA increased its stake in Colgate-Palmolive by 2.3% during the second quarter. Banque Pictet & Cie SA now owns 4,475,560 shares of the company’s stock worth $358,671,000 after acquiring an additional 99,100 shares during the last quarter. Institutional investors and hedge funds own 77.63% of the company’s stock.

Colgate-Palmolive Trading Up 0.1 %

NYSE CL opened at $75.50 on Tuesday. The firm has a market capitalization of $63.06 billion, a PE ratio of 32.83, a price-to-earnings-growth ratio of 6.61 and a beta of 0.51. Colgate-Palmolive has a one year low of $67.84 and a one year high of $84.75. The company has a 50-day simple moving average of $77.72 and a 200-day simple moving average of $76.73. The company has a debt-to-equity ratio of 7.81, a quick ratio of 0.71 and a current ratio of 1.17.

Colgate-Palmolive (NYSE:CLGet Rating) last announced its quarterly earnings results on Friday, October 28th. The company reported $0.74 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.74. The business had revenue of $4.46 billion for the quarter, compared to the consensus estimate of $4.47 billion. Colgate-Palmolive had a return on equity of 304.29% and a net margin of 10.87%. The business’s revenue was up .9% on a year-over-year basis. During the same quarter last year, the business posted $0.81 EPS. On average, equities analysts forecast that Colgate-Palmolive will post 2.97 earnings per share for the current year.

Colgate-Palmolive Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, February 14th. Investors of record on Monday, January 23rd will be issued a $0.47 dividend. The ex-dividend date of this dividend is Friday, January 20th. This represents a $1.88 dividend on an annualized basis and a dividend yield of 2.49%. Colgate-Palmolive’s dividend payout ratio (DPR) is presently 81.74%.

Analyst Upgrades and Downgrades

A number of analysts recently issued reports on CL shares. StockNews.com raised shares of Colgate-Palmolive from a “hold” rating to a “buy” rating in a research report on Thursday, December 15th. UBS Group reduced their target price on shares of Colgate-Palmolive from $90.00 to $80.00 in a report on Thursday, October 13th. Deutsche Bank Aktiengesellschaft increased their price target on Colgate-Palmolive from $85.00 to $87.00 and gave the company a “buy” rating in a report on Tuesday, December 6th. JPMorgan Chase & Co. increased their target price on Colgate-Palmolive from $81.00 to $86.00 and gave the company an “overweight” rating in a research note on Friday, January 13th. Finally, Barclays boosted their target price on shares of Colgate-Palmolive from $72.00 to $76.00 and gave the stock an “equal weight” rating in a research report on Tuesday, November 1st. Eight analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. According to MarketBeat, Colgate-Palmolive currently has an average rating of “Hold” and an average price target of $83.58.

About Colgate-Palmolive

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Colgate-Palmolive Co is engaged in the manufacturing and distribution of consumer products. It operates through Oral, Personal and Home Care and Pet Nutrition segments. The Oral, Personal and Home Care segment represents North America, Latin America, Europe, Asia Pacific, and Africa or Eurasia, all of which sell to a variety of retail and wholesale customers and distributors.

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Institutional Ownership by Quarter for Colgate-Palmolive (NYSE:CL)

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