LGT Capital Partners LTD. Cuts Stake in Colgate-Palmolive Company $CL

LGT Capital Partners LTD. lessened its stake in Colgate-Palmolive Company (NYSE:CL) by 19.3% in the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 804,191 shares of the company’s stock after selling 192,709 shares during the quarter. Colgate-Palmolive accounts for about 3.2% of LGT Capital Partners LTD.’s investment portfolio, making the stock its 10th biggest holding. LGT Capital Partners LTD.’s holdings in Colgate-Palmolive were worth $73,101,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors have also added to or reduced their stakes in the company. Westside Investment Management Inc. raised its stake in shares of Colgate-Palmolive by 85.5% in the 2nd quarter. Westside Investment Management Inc. now owns 282 shares of the company’s stock valued at $26,000 after purchasing an additional 130 shares during the period. Saudi Central Bank bought a new position in shares of Colgate-Palmolive during the first quarter worth about $29,000. Ransom Advisory Ltd acquired a new stake in Colgate-Palmolive in the 1st quarter valued at approximately $33,000. Y.D. More Investments Ltd bought a new stake in Colgate-Palmolive in the 1st quarter valued at approximately $37,000. Finally, Atticus Wealth Management LLC raised its holdings in shares of Colgate-Palmolive by 156.8% in the second quarter. Atticus Wealth Management LLC now owns 488 shares of the company’s stock valued at $44,000 after purchasing an additional 298 shares during the last quarter. 80.41% of the stock is owned by institutional investors.

Colgate-Palmolive Stock Performance

CL opened at $78.01 on Friday. 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 12-month low of $74.54 and a 12-month high of $100.18. The business has a 50 day moving average of $79.18 and a 200-day moving average of $85.26. The stock has a market cap of $62.88 billion, a price-to-earnings ratio of 21.91, a PEG ratio of 4.44 and a beta of 0.35.

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

Colgate-Palmolive Dividend Announcement

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

Analyst Ratings Changes

A number of research firms recently weighed in on CL. Wells Fargo & Company decreased their target price 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. Weiss Ratings restated a “hold (c)” rating on shares of Colgate-Palmolive in a report on Wednesday, October 8th. Evercore ISI reduced their price target on Colgate-Palmolive from $100.00 to $94.00 and set an “outperform” rating for the company in a research report on Monday, November 3rd. The Goldman Sachs Group lowered their price target on Colgate-Palmolive from $106.00 to $91.00 and set a “buy” rating on the stock in a research report on Thursday, October 2nd. Finally, Barclays cut their price objective on Colgate-Palmolive from $82.00 to $80.00 and set an “equal weight” rating for the company in a report on Tuesday, November 4th. Nine research analysts have rated the stock with a Buy rating, five have given a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $89.87.

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.