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

Manning & Napier Advisors LLC trimmed its stake in Colgate-Palmolive Company (NYSE:CL) by 66.1% in the third quarter, HoldingsChannel reports. The firm owned 17,923 shares of the company’s stock after selling 35,021 shares during the period. Manning & Napier Advisors LLC’s holdings in Colgate-Palmolive were worth $1,433,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in CL. Westside Investment Management Inc. grew its stake in shares of Colgate-Palmolive by 85.5% in the 2nd quarter. Westside Investment Management Inc. now owns 282 shares of the company’s stock valued at $26,000 after buying an additional 130 shares during the period. Vermillion & White Wealth Management Group LLC boosted its holdings in Colgate-Palmolive by 86.1% in the second quarter. Vermillion & White Wealth Management Group LLC now owns 335 shares of the company’s stock worth $30,000 after acquiring an additional 155 shares in the last quarter. MTM Investment Management LLC bought a new position in Colgate-Palmolive in the second quarter worth approximately $39,000. Louisbourg Investments Inc. grew its stake in Colgate-Palmolive by 94.7% in the third quarter. Louisbourg Investments Inc. now owns 514 shares of the company’s stock valued at $41,000 after acquiring an additional 250 shares during the period. Finally, Atticus Wealth Management LLC increased its holdings in shares of Colgate-Palmolive by 156.8% during the second quarter. Atticus Wealth Management LLC now owns 488 shares of the company’s stock valued at $44,000 after acquiring an additional 298 shares in the last quarter. Institutional investors and hedge funds own 80.41% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on CL shares. Citigroup reduced their price target on shares of Colgate-Palmolive from $105.00 to $95.00 and set a “buy” rating for the company in a research report on Monday, November 3rd. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Colgate-Palmolive in a research note on Wednesday, October 8th. Bank of America decreased their target price on shares of Colgate-Palmolive from $98.00 to $88.00 and set a “buy” rating for the company in a research report on Wednesday, October 8th. Raymond James Financial lowered their target price on shares of Colgate-Palmolive from $105.00 to $95.00 and set an “outperform” rating on the stock in a report on Monday, October 20th. Finally, Wells Fargo & Company set a $86.00 price target on Colgate-Palmolive and gave the company an “equal weight” rating in a research note on Tuesday. Eleven analysts have rated the stock with a Buy rating and five have given a Hold rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $88.94.

Colgate-Palmolive Stock Performance

Shares of CL stock opened at $84.53 on Thursday. The company has a debt-to-equity ratio of 5.90, a current ratio of 0.93 and a quick ratio of 0.60. The firm has a 50-day moving average of $79.13 and a 200-day moving average of $81.84. Colgate-Palmolive Company has a one year low of $74.54 and a one year high of $100.18. The company has a market cap of $68.14 billion, a P/E ratio of 23.68, a P/E/G ratio of 5.62 and a beta of 0.30.

Colgate-Palmolive (NYSE:CL) last released its quarterly earnings results on Friday, October 31st. The company reported $0.91 earnings per share for the quarter, topping the consensus estimate of $0.89 by $0.02. The business had revenue of $5.13 billion for the quarter, compared to analysts’ expectations of $5.17 billion. Colgate-Palmolive had a net margin of 14.47% and a return on equity of 333.39%. The firm’s revenue for the quarter was up 1.9% compared to the same quarter last year. During the same period in the previous year, the company earned $0.91 earnings per share. Equities research analysts forecast that Colgate-Palmolive Company will post 3.75 EPS for the current fiscal year.

Colgate-Palmolive Announces Dividend

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