Illinois Municipal Retirement Fund Sells 6,037 Shares of Colgate-Palmolive Company $CL

Illinois Municipal Retirement Fund lowered its holdings in shares of Colgate-Palmolive Company (NYSE:CL) by 2.4% in the second quarter, according to its most recent disclosure with the SEC. The firm owned 245,591 shares of the company’s stock after selling 6,037 shares during the period. Illinois Municipal Retirement Fund’s holdings in Colgate-Palmolive were worth $22,324,000 as of its most recent filing with the SEC.

A number of other hedge funds also recently made changes to their positions in the business. Vanguard Group Inc. lifted its holdings in Colgate-Palmolive by 0.6% during the 1st quarter. Vanguard Group Inc. now owns 81,758,257 shares of the company’s stock valued at $7,660,749,000 after purchasing an additional 455,198 shares during the last quarter. Price T Rowe Associates Inc. MD lifted its position in 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 worth $3,186,651,000 after acquiring an additional 5,269,140 shares during the last quarter. Goldman Sachs Group Inc. boosted its stake in Colgate-Palmolive by 34.5% in the 1st quarter. Goldman Sachs Group Inc. now owns 7,980,387 shares of the company’s stock valued at $747,762,000 after purchasing an additional 2,045,191 shares during the period. Deutsche Bank AG grew its stake 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 valued at $672,447,000 after acquiring an additional 253,604 shares in the last quarter. Finally, Ameriprise Financial Inc. increased its holdings in shares of Colgate-Palmolive by 2.6% during the first quarter. Ameriprise Financial Inc. now owns 6,976,654 shares of the company’s stock worth $653,761,000 after purchasing an additional 177,833 shares during the period. 80.41% of the stock is owned by institutional investors and hedge funds.

Colgate-Palmolive Stock Performance

NYSE:CL opened at $78.76 on Monday. The firm has a market capitalization of $63.48 billion, a P/E ratio of 22.12, a P/E/G ratio of 4.44 and a beta of 0.35. Colgate-Palmolive Company has a twelve month low of $74.54 and a twelve month high of $100.18. The company has a fifty day moving average of $79.73 and a 200-day moving average of $85.64. 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 (NYSE:CL) last posted its quarterly earnings results on Friday, October 31st. The company reported $0.91 earnings per share for the quarter, beating the consensus estimate of $0.89 by $0.02. Colgate-Palmolive had a net margin of 14.55% and a return on equity of 377.63%. The firm had revenue of $5.13 billion during the quarter, compared to the consensus estimate of $5.17 billion. During the same period in the previous year, the firm posted $0.91 earnings per share. The business’s revenue was up 1.9% compared to the same quarter last year. As a group, sell-side analysts anticipate that Colgate-Palmolive Company will post 3.75 EPS for the current year.

Colgate-Palmolive Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, November 14th. Shareholders of record on Friday, October 17th will be paid a $0.52 dividend. This represents a $2.08 dividend on an annualized basis and a yield of 2.6%. The ex-dividend date of this dividend is Friday, October 17th. Colgate-Palmolive’s dividend payout ratio (DPR) is 58.26%.

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on CL shares. Barclays cut their price objective on shares of Colgate-Palmolive from $82.00 to $80.00 and set an “equal weight” rating for the company in a research report on Tuesday, November 4th. Wells Fargo & Company lowered their target price on Colgate-Palmolive from $80.00 to $77.00 and set an “underweight” rating for the company in a report on Monday, November 3rd. Morgan Stanley reduced their price objective on shares of Colgate-Palmolive from $96.00 to $87.00 and set an “overweight” rating on the stock in a research note on Monday, November 3rd. Piper Sandler began coverage on Colgate-Palmolive in a report on Friday, October 3rd. They issued a “neutral” rating and a $84.00 target price on the stock. Finally, Raymond James Financial dropped their price target on shares of Colgate-Palmolive from $105.00 to $95.00 and set an “outperform” rating on the stock in a research report on Monday, October 20th. Nine equities research analysts have rated the stock with a Buy rating, five have given a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, Colgate-Palmolive currently has an average rating of “Moderate Buy” and a consensus price target of $89.87.

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.