Maryland State Retirement & Pension System Acquires 1,076 Shares of Colgate-Palmolive Company $CL

Maryland State Retirement & Pension System increased its holdings in shares of Colgate-Palmolive Company (NYSE:CL) by 2.8% during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 39,075 shares of the company’s stock after acquiring an additional 1,076 shares during the quarter. Maryland State Retirement & Pension System’s holdings in Colgate-Palmolive were worth $3,552,000 as of its most recent filing with the SEC.

A number of other large investors have also recently bought and sold shares of the company. Massachusetts Wealth Management grew its stake in Colgate-Palmolive by 1.8% during the second quarter. Massachusetts Wealth Management now owns 12,822 shares of the company’s stock worth $1,166,000 after buying an additional 225 shares in the last quarter. Valmark Advisers Inc. grew its stake in Colgate-Palmolive by 2.2% during the second quarter. Valmark Advisers Inc. now owns 10,588 shares of the company’s stock worth $962,000 after buying an additional 232 shares in the last quarter. Secured Retirement Advisors LLC grew its stake in Colgate-Palmolive by 4.5% during the second quarter. Secured Retirement Advisors LLC now owns 21,318 shares of the company’s stock worth $1,938,000 after buying an additional 912 shares in the last quarter. Mirova US LLC grew its stake in Colgate-Palmolive by 17.2% during the second quarter. Mirova US LLC now owns 18,880 shares of the company’s stock worth $1,716,000 after buying an additional 2,769 shares in the last quarter. Finally, Shell Asset Management Co. grew its stake in Colgate-Palmolive by 10.9% during the second quarter. Shell Asset Management Co. now owns 31,255 shares of the company’s stock worth $2,841,000 after buying an additional 3,078 shares in the last quarter. 80.41% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on the stock. JPMorgan Chase & Co. reduced their price objective on shares of Colgate-Palmolive from $99.00 to $95.00 and set an “overweight” rating on the stock in a research note on Monday, August 4th. UBS Group reduced their price objective on shares of Colgate-Palmolive from $99.00 to $92.00 and set a “buy” rating on the stock in a research note on Wednesday. Bank of America reduced their price target on shares of Colgate-Palmolive from $98.00 to $88.00 and set a “buy” rating on the stock in a research note on Wednesday. Wells Fargo & Company reduced their price target on shares of Colgate-Palmolive from $83.00 to $80.00 and set an “underweight” rating on the stock in a research note on Thursday, September 25th. Finally, Barclays reduced their price target on shares of Colgate-Palmolive from $87.00 to $82.00 and set an “equal weight” rating on the stock in a research note on Wednesday, October 1st. Eight investment analysts have rated the stock with a Buy rating, five have given a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, Colgate-Palmolive has an average rating of “Moderate Buy” and an average target price of $93.23.

Colgate-Palmolive Stock Down 0.2%

NYSE:CL opened at $77.82 on Friday. The firm’s 50 day simple moving average is $82.67 and its 200 day simple moving average is $87.99. The company has a debt-to-equity ratio of 6.79, a current ratio of 0.89 and a quick ratio of 0.57. Colgate-Palmolive Company has a one year low of $77.09 and a one year high of $102.61. The company has a market cap of $62.90 billion, a PE ratio of 21.86, a P/E/G ratio of 4.05 and a beta of 0.34.

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

Colgate-Palmolive Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, November 14th. Stockholders of record on Friday, October 17th will be given a $0.52 dividend. 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 payout ratio is 58.43%.

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.