Illinois Municipal Retirement Fund Sells 6,037 Shares of Colgate-Palmolive Company $CL

Illinois Municipal Retirement Fund reduced its position in shares of Colgate-Palmolive Company (NYSE:CL) by 2.4% in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 245,591 shares of the company’s stock after selling 6,037 shares during the quarter. Illinois Municipal Retirement Fund’s holdings in Colgate-Palmolive were worth $22,324,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors also recently modified their holdings of CL. Brighton Jones LLC lifted its stake in shares of Colgate-Palmolive by 4.4% in the 4th quarter. Brighton Jones LLC now owns 10,578 shares of the company’s stock valued at $962,000 after purchasing an additional 450 shares during the period. U.S. Capital Wealth Advisors LLC bought a new stake in Colgate-Palmolive in the first quarter valued at about $205,000. Arizona State Retirement System lifted its stake in Colgate-Palmolive by 4.2% in the first quarter. Arizona State Retirement System now owns 232,696 shares of the company’s stock valued at $21,804,000 after buying an additional 9,364 shares during the period. Schechter Investment Advisors LLC lifted its stake in Colgate-Palmolive by 10.8% in the first quarter. Schechter Investment Advisors LLC now owns 3,115 shares of the company’s stock valued at $292,000 after buying an additional 304 shares during the period. Finally, Stephens Inc. AR grew its position in shares of Colgate-Palmolive by 6.1% during the 1st quarter. Stephens Inc. AR now owns 15,391 shares of the company’s stock worth $1,442,000 after buying an additional 885 shares during the period. Institutional investors and hedge funds own 80.41% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts have commented on CL shares. Citigroup lowered their target price on shares of Colgate-Palmolive from $105.00 to $95.00 and set a “buy” rating for the company in a research note on Monday, November 3rd. Wells Fargo & Company lowered their price objective on shares of Colgate-Palmolive from $80.00 to $77.00 and set an “underweight” rating for the company in a research report on Monday, November 3rd. Deutsche Bank Aktiengesellschaft set a $86.00 target price on Colgate-Palmolive in a report on Friday, October 10th. Bank of America lowered their price target on Colgate-Palmolive from $98.00 to $88.00 and set a “buy” rating for the company in a report on Wednesday, October 8th. Finally, Morgan Stanley cut their price objective on Colgate-Palmolive from $96.00 to $87.00 and set an “overweight” rating on the stock in a report on Monday, November 3rd. Nine research analysts have rated the stock with a Buy rating, five have given a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, Colgate-Palmolive has an average rating of “Moderate Buy” and a consensus price target of $89.87.

Colgate-Palmolive Trading Up 1.9%

NYSE:CL opened at $78.76 on Monday. The company has a quick ratio of 0.57, a current ratio of 0.89 and a debt-to-equity ratio of 6.79. Colgate-Palmolive Company has a twelve month low of $74.54 and a twelve month high of $100.18. The company has a market cap of $63.48 billion, a P/E ratio of 22.12, a price-to-earnings-growth ratio of 4.44 and a beta of 0.35. The business has a 50 day moving average price of $79.73 and a two-hundred day moving average price of $85.64.

Colgate-Palmolive (NYSE:CL) last announced its earnings results on Friday, October 31st. The company reported $0.91 EPS for the quarter, topping the consensus estimate of $0.89 by $0.02. Colgate-Palmolive had a net margin of 14.55% and a return on equity of 377.63%. The business had revenue of $5.13 billion during the quarter, compared to analysts’ expectations of $5.17 billion. During the same quarter in the prior year, the company posted $0.91 earnings per share. The firm’s revenue was up 1.9% on a year-over-year basis. As a group, analysts expect that Colgate-Palmolive Company will post 3.75 EPS for the current fiscal year.

Colgate-Palmolive Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, November 14th. Investors of record on Friday, October 17th will be issued a dividend of $0.52 per share. This represents a $2.08 annualized dividend and a yield of 2.6%. The ex-dividend date is Friday, October 17th. Colgate-Palmolive’s dividend payout ratio is presently 58.26%.

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.