Groupama Asset Managment Reduces Holdings in Colgate-Palmolive Company $CL

Groupama Asset Managment trimmed its holdings in shares of Colgate-Palmolive Company (NYSE:CL) by 56.4% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 5,045 shares of the company’s stock after selling 6,531 shares during the quarter. Groupama Asset Managment’s holdings in Colgate-Palmolive were worth $452,000 at the end of the most recent quarter.

Other institutional investors have also added to or reduced their stakes in the company. Westside Investment Management Inc. grew its position in shares of Colgate-Palmolive by 85.5% during the 2nd quarter. Westside Investment Management Inc. now owns 282 shares of the company’s stock valued at $26,000 after acquiring an additional 130 shares during the period. Saudi Central Bank purchased a new position in Colgate-Palmolive during the first quarter valued at $29,000. Vermillion & White Wealth Management Group LLC grew its holdings in Colgate-Palmolive by 86.1% during the second quarter. Vermillion & White Wealth Management Group LLC now owns 335 shares of the company’s stock valued at $30,000 after purchasing an additional 155 shares during the period. Ransom Advisory Ltd bought a new stake in Colgate-Palmolive during the first quarter valued at about $33,000. Finally, Y.D. More Investments Ltd bought a new position in shares of Colgate-Palmolive in the first quarter worth about $37,000. 80.41% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

CL has been the subject of a number of recent research reports. JPMorgan Chase & Co. cut their price objective on Colgate-Palmolive from $88.00 to $87.00 and set an “overweight” rating for the company in a research note on Monday, November 3rd. Piper Sandler began coverage on shares of Colgate-Palmolive in a research report on Friday, October 3rd. They issued a “neutral” rating and a $84.00 price target for the company. Wells Fargo & Company decreased their price objective on shares of Colgate-Palmolive from $80.00 to $77.00 and set an “underweight” rating on the stock in a research report on Monday, November 3rd. Bank of America dropped their target price on shares of Colgate-Palmolive from $98.00 to $88.00 and set a “buy” rating for the company in a report on Wednesday, October 8th. Finally, Morgan Stanley lowered their price objective on Colgate-Palmolive from $96.00 to $87.00 and set an “overweight” rating on the stock in a research report on Monday, November 3rd. Nine analysts have rated the stock with a Buy rating, five have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $89.87.

Colgate-Palmolive Price Performance

NYSE:CL opened at $80.99 on Friday. The business’s 50-day moving average is $78.57 and its 200 day moving average is $84.46. Colgate-Palmolive Company has a 12 month low of $74.54 and a 12 month high of $100.18. The company has a market capitalization of $65.28 billion, a P/E ratio of 22.75, a P/E/G ratio of 4.44 and a beta of 0.35. The company has a current ratio of 0.89, a quick ratio of 0.57 and a debt-to-equity ratio of 6.79.

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

Colgate-Palmolive Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, November 14th. Investors of record on Friday, October 17th were paid 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 is presently 58.26%.

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.