Manning & Napier Advisors LLC Sells 35,021 Shares of Colgate-Palmolive Company $CL

Manning & Napier Advisors LLC cut its stake in shares of Colgate-Palmolive Company (NYSE:CL) by 66.1% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 17,923 shares of the company’s stock after selling 35,021 shares during the quarter. Manning & Napier Advisors LLC’s holdings in Colgate-Palmolive were worth $1,433,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Brighton Jones LLC increased its holdings in shares of Colgate-Palmolive by 4.4% during the fourth quarter. Brighton Jones LLC now owns 10,578 shares of the company’s stock worth $962,000 after buying an additional 450 shares in the last quarter. Woodline Partners LP grew its position in Colgate-Palmolive by 76.3% during the 1st quarter. Woodline Partners LP now owns 46,361 shares of the company’s stock worth $4,344,000 after acquiring an additional 20,062 shares during the last quarter. Czech National Bank increased its holdings in Colgate-Palmolive by 6.3% in the 2nd quarter. Czech National Bank now owns 198,095 shares of the company’s stock worth $18,007,000 after purchasing an additional 11,698 shares in the last quarter. Divergent Planning LLC bought a new position in Colgate-Palmolive in the second quarter valued at about $2,053,000. Finally, Baron Wealth Management LLC boosted its stake in shares of Colgate-Palmolive by 66.6% during the second quarter. Baron Wealth Management LLC now owns 5,364 shares of the company’s stock valued at $488,000 after purchasing an additional 2,144 shares in the last quarter. Institutional investors own 80.41% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have recently issued reports on CL. JPMorgan Chase & Co. upped their price objective on Colgate-Palmolive from $87.00 to $88.00 and gave the company an “overweight” rating in a research note on Thursday, December 18th. Raymond James Financial decreased their price target on shares of Colgate-Palmolive from $105.00 to $95.00 and set an “outperform” rating for the company in a research report on Monday, October 20th. The Goldman Sachs Group dropped their price target on shares of Colgate-Palmolive from $106.00 to $91.00 and set a “buy” rating for the company in a research note on Thursday, October 2nd. TD Cowen reduced their price objective on shares of Colgate-Palmolive from $90.00 to $86.00 and set a “buy” rating on the stock in a research note on Thursday, January 8th. Finally, Royal Bank Of Canada upgraded Colgate-Palmolive from a “sector perform” rating to an “outperform” rating and set a $88.00 price objective for the company in a report on Tuesday, December 9th. Eleven research analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $88.94.

Colgate-Palmolive Price Performance

Shares of NYSE CL opened at $84.53 on Thursday. The company has a market capitalization of $68.14 billion, a PE ratio of 23.68, a P/E/G ratio of 5.62 and a beta of 0.30. The company has a quick ratio of 0.60, a current ratio of 0.93 and a debt-to-equity ratio of 5.90. Colgate-Palmolive Company has a twelve month low of $74.54 and a twelve month high of $100.18. The firm has a fifty day simple moving average of $79.13 and a 200 day simple moving average of $81.84.

Colgate-Palmolive (NYSE:CL) last issued 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. Colgate-Palmolive had a net margin of 14.47% and a return on equity of 333.39%. The business had revenue of $5.13 billion for the quarter, compared to analysts’ expectations of $5.17 billion. During the same quarter in the prior year, the firm posted $0.91 earnings per share. The business’s quarterly revenue was up 1.9% compared to the same quarter last year. On average, sell-side analysts forecast that Colgate-Palmolive Company will post 3.75 EPS for the current year.

Colgate-Palmolive Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, February 13th. Investors of record on Wednesday, January 21st will be paid a dividend of $0.52 per share. The ex-dividend date of this dividend is Wednesday, January 21st. This represents a $2.08 annualized dividend and a yield of 2.5%. Colgate-Palmolive’s dividend payout ratio (DPR) is currently 58.26%.

About Colgate-Palmolive

Colgate-Palmolive Company is a global consumer products company with a long history in household and personal care categories. The business traces its roots to the early 19th century and has evolved into a multinational manufacturer and marketer of everyday consumer goods focused on health, hygiene and home care.

The company’s core activities center on oral care, personal care, home care and pet nutrition. Its product portfolio includes toothpaste, toothbrushes and mouthwash in oral care; soaps, body washes and deodorants in personal care; dishwashing liquids, surface cleaners and other household products in home care; and scientifically formulated pet foods under its pet nutrition business.