Rhumbline Advisers Decreases Stock Position in Colgate-Palmolive Company $CL

Rhumbline Advisers trimmed its position in shares of Colgate-Palmolive Company (NYSE:CL) by 5.8% in the 2nd quarter, Holdings Channel reports. The institutional investor owned 1,667,908 shares of the company’s stock after selling 103,513 shares during the quarter. Rhumbline Advisers’ holdings in Colgate-Palmolive were worth $151,613,000 at the end of the most recent quarter.

Several other institutional investors have also recently made changes to their positions in CL. Vanguard Group Inc. grew its holdings in Colgate-Palmolive by 1.2% during the 2nd quarter. Vanguard Group Inc. now owns 82,751,689 shares of the company’s stock valued at $7,522,129,000 after purchasing an additional 993,432 shares during the last quarter. Price T Rowe Associates Inc. MD boosted its position in shares of Colgate-Palmolive by 18.3% during the first quarter. Price T Rowe Associates Inc. MD now owns 34,009,078 shares of the company’s stock valued at $3,186,651,000 after buying an additional 5,269,140 shares during the period. Goldman Sachs Group Inc. grew its stake in shares of Colgate-Palmolive by 34.5% during the first quarter. Goldman Sachs Group Inc. now owns 7,980,387 shares of the company’s stock valued at $747,762,000 after buying an additional 2,045,191 shares during the last quarter. Deutsche Bank AG raised its holdings in shares of Colgate-Palmolive by 3.7% in the first quarter. Deutsche Bank AG now owns 7,176,598 shares of the company’s stock worth $672,447,000 after buying an additional 253,604 shares during the period. Finally, Ameriprise Financial Inc. lifted its stake in shares of Colgate-Palmolive by 2.6% during the 1st quarter. Ameriprise Financial Inc. now owns 6,976,654 shares of the company’s stock worth $653,761,000 after acquiring an additional 177,833 shares during the last quarter. Institutional investors own 80.41% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on CL. Bank of America reduced their target price on Colgate-Palmolive from $98.00 to $88.00 and set a “buy” rating on the stock in a research note on Wednesday, October 8th. Deutsche Bank Aktiengesellschaft set a $86.00 price target on shares of Colgate-Palmolive in a research note on Friday, October 10th. Citigroup dropped their target price on shares of Colgate-Palmolive from $105.00 to $95.00 and set a “buy” rating on the stock in a research note on Monday, November 3rd. UBS Group decreased their price target on shares of Colgate-Palmolive from $92.00 to $90.00 and set a “buy” rating for the company in a research note on Monday, November 3rd. Finally, Evercore ISI dropped their price objective on Colgate-Palmolive from $100.00 to $94.00 and set an “outperform” rating on the stock in a research note on Monday, November 3rd. Nine investment analysts have rated the stock with a Buy rating, five have assigned a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $89.87.

Colgate-Palmolive Price Performance

NYSE CL opened at $80.97 on Friday. The company has a market cap of $65.27 billion, a PE ratio of 22.74, a P/E/G ratio of 4.44 and a beta of 0.35. The firm’s 50 day moving average price is $78.73 and its 200-day moving average price is $84.80. 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 Company has a 52-week low of $74.54 and a 52-week high of $100.18.

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

Colgate-Palmolive Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, November 14th. Investors of record on Friday, October 17th were given a dividend of $0.52 per share. The ex-dividend date of this dividend was Friday, October 17th. This represents a $2.08 dividend on an annualized basis and a yield of 2.6%. Colgate-Palmolive’s dividend payout ratio (DPR) 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.