Louisiana State Employees Retirement System Has $3.89 Million Holdings in Colgate-Palmolive Company $CL

Louisiana State Employees Retirement System cut its position in Colgate-Palmolive Company (NYSE:CL) by 1.8% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 42,800 shares of the company’s stock after selling 800 shares during the quarter. Louisiana State Employees Retirement System’s holdings in Colgate-Palmolive were worth $3,891,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Westend Capital Management LLC grew its stake in Colgate-Palmolive by 111.1% in the 1st quarter. Westend Capital Management LLC now owns 266 shares of the company’s stock valued at $25,000 after buying an additional 140 shares during the last quarter. Cornerstone Planning Group LLC grew its stake in Colgate-Palmolive by 1,913.3% in the 1st quarter. Cornerstone Planning Group LLC now owns 302 shares of the company’s stock valued at $28,000 after buying an additional 287 shares during the last quarter. Saudi Central Bank acquired a new position in Colgate-Palmolive in the 1st quarter valued at $29,000. Ransom Advisory Ltd acquired a new position in Colgate-Palmolive in the 1st quarter valued at $33,000. Finally, Y.D. More Investments Ltd acquired a new position in Colgate-Palmolive in the 1st quarter valued at $37,000. 80.41% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of brokerages have weighed in on CL. JPMorgan Chase & Co. reduced their price target on shares of Colgate-Palmolive from $99.00 to $95.00 and set an “overweight” rating for the company in a report on Monday, August 4th. Bank of America reduced their price target on shares of Colgate-Palmolive from $98.00 to $88.00 and set a “buy” rating for the company in a report on Wednesday. Barclays reduced their price target on shares of Colgate-Palmolive from $87.00 to $82.00 and set an “equal weight” rating for the company in a report on Wednesday, October 1st. Piper Sandler began coverage on shares of Colgate-Palmolive in a report on Friday, October 3rd. They issued a “neutral” rating and a $84.00 price target for the company. Finally, UBS Group reduced their price target on shares of Colgate-Palmolive from $99.00 to $92.00 and set a “buy” rating for the company in a report on Wednesday. Eight 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.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $93.23.

Colgate-Palmolive Price Performance

NYSE:CL opened at $77.96 on Thursday. The company has a 50-day moving average of $82.79 and a 200-day moving average of $88.08. The company has a market capitalization of $63.01 billion, a price-to-earnings ratio of 21.90, a PEG ratio of 4.11 and a beta of 0.34. Colgate-Palmolive Company has a 52 week low of $77.09 and a 52 week high of $102.61. The company has a debt-to-equity ratio of 6.79, a quick ratio of 0.57 and a current ratio of 0.89.

Colgate-Palmolive (NYSE:CL) last released its quarterly earnings data on Friday, August 1st. The company reported $0.92 EPS for the quarter, topping analysts’ consensus estimates of $0.89 by $0.03. The company had revenue of $5.11 billion during the quarter, compared to the consensus estimate of $5.03 billion. Colgate-Palmolive had a net margin of 14.55% and a return on equity of 377.63%. The firm’s revenue for the quarter was up 1.0% compared to the same quarter last year. During the same period last year, the firm earned $0.91 EPS. As a group, equities research analysts anticipate that Colgate-Palmolive Company will post 3.75 earnings per share for the current fiscal year.

Colgate-Palmolive Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, November 14th. Investors of record on Friday, October 17th will be given a dividend of $0.52 per share. The ex-dividend date is Friday, October 17th. This represents a $2.08 dividend on an annualized basis and a dividend yield of 2.7%. Colgate-Palmolive’s dividend payout ratio (DPR) is 58.43%.

About Colgate-Palmolive

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.