Colgate-Palmolive Company $CL Shares Sold by New York State Common Retirement Fund

New York State Common Retirement Fund lowered its holdings in Colgate-Palmolive Company (NYSE:CL) by 24.8% during the third quarter, Holdings Channel reports. The fund owned 922,107 shares of the company’s stock after selling 304,605 shares during the quarter. New York State Common Retirement Fund’s holdings in Colgate-Palmolive were worth $73,713,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in CL. Grimes & Company Inc. raised its stake in shares of Colgate-Palmolive by 1.0% during the 2nd quarter. Grimes & Company Inc. now owns 12,495 shares of the company’s stock valued at $1,136,000 after buying an additional 118 shares during the last quarter. RFG Advisory LLC raised its position in Colgate-Palmolive by 1.4% during the second quarter. RFG Advisory LLC now owns 9,227 shares of the company’s stock valued at $839,000 after acquiring an additional 123 shares in the last quarter. Tiemann Investment Advisors LLC raised its position in Colgate-Palmolive by 2.1% during the second quarter. Tiemann Investment Advisors LLC now owns 6,083 shares of the company’s stock valued at $553,000 after acquiring an additional 125 shares in the last quarter. Westside Investment Management Inc. lifted its holdings in Colgate-Palmolive by 85.5% in the second 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. Finally, S.A. Mason LLC boosted its position in Colgate-Palmolive by 3.9% in the 3rd quarter. S.A. Mason LLC now owns 3,499 shares of the company’s stock worth $280,000 after purchasing an additional 130 shares in the last quarter. 80.41% of the stock is currently owned by institutional investors and hedge funds.

Colgate-Palmolive Price Performance

NYSE:CL opened at $85.14 on Friday. The stock has a 50 day moving average of $80.58 and a two-hundred day moving average of $81.42. Colgate-Palmolive Company has a 12 month low of $74.54 and a 12 month high of $100.18. The firm has a market cap of $68.63 billion, a P/E ratio of 23.85, a price-to-earnings-growth ratio of 5.73 and a beta of 0.30. The company has a current ratio of 0.93, a quick ratio of 0.60 and a debt-to-equity ratio of 5.90.

Colgate-Palmolive (NYSE:CL) last released its 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 return on equity of 333.39% and a net margin of 14.47%.The business had revenue of $5.13 billion for the quarter, compared to the consensus estimate of $5.17 billion. During the same quarter last year, the business posted $0.91 earnings per share. The business’s quarterly revenue was up 1.9% compared to the same quarter last year. On average, analysts expect that Colgate-Palmolive Company will post 3.75 earnings per share for the current fiscal year.

Colgate-Palmolive Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, February 13th. Shareholders of record on Wednesday, January 21st will be issued a $0.52 dividend. The ex-dividend date is Wednesday, January 21st. This represents a $2.08 dividend on an annualized basis and a yield of 2.4%. Colgate-Palmolive’s dividend payout ratio (DPR) is presently 58.26%.

Analysts Set New Price Targets

Several equities analysts recently issued reports on the stock. Morgan Stanley decreased their target price on shares of Colgate-Palmolive from $96.00 to $87.00 and set an “overweight” rating for the company in a research note on Monday, November 3rd. Wells Fargo & Company set a $86.00 price objective on shares of Colgate-Palmolive and gave the stock an “equal weight” rating in a research report on Tuesday, January 13th. 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 research note on Monday, October 20th. Citigroup cut their price target on Colgate-Palmolive from $105.00 to $95.00 and set a “buy” rating for the company in a research note on Monday, November 3rd. Finally, Deutsche Bank Aktiengesellschaft set a $86.00 price target on Colgate-Palmolive in a report on Friday, October 10th. Eleven equities research analysts have rated the stock with a Buy rating and five have given a Hold rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $89.44.

Colgate-Palmolive Profile

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.