Conning Inc. Decreases Stock Holdings in Colgate-Palmolive Company $CL

Conning Inc. lowered its position in Colgate-Palmolive Company (NYSE:CL) by 9.9% during the first quarter, Holdings Channel reports. The institutional investor owned 384,661 shares of the company’s stock after selling 42,092 shares during the quarter. Conning Inc.’s holdings in Colgate-Palmolive were worth $32,785,000 as of its most recent SEC filing.

Other large investors have also recently modified their holdings of the company. Kemnay Advisory Services Inc. purchased a new position in Colgate-Palmolive in the fourth quarter worth $25,000. CBIZ Investment Advisory Services LLC lifted its holdings in shares of Colgate-Palmolive by 86.7% during the 4th quarter. CBIZ Investment Advisory Services LLC now owns 323 shares of the company’s stock valued at $26,000 after purchasing an additional 150 shares during the last quarter. TD Capital Management LLC boosted its position in shares of Colgate-Palmolive by 61.4% in the 4th quarter. TD Capital Management LLC now owns 326 shares of the company’s stock worth $26,000 after purchasing an additional 124 shares in the last quarter. Triumph Capital Management grew its stake in Colgate-Palmolive by 62.9% during the 4th quarter. Triumph Capital Management now owns 329 shares of the company’s stock worth $26,000 after buying an additional 127 shares during the last quarter. Finally, Jessup Wealth Management Inc purchased a new position in Colgate-Palmolive during the 4th quarter worth $26,000. Institutional investors own 80.41% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have commented on CL shares. TD Cowen reiterated a “hold” rating and issued a $85.00 price target on shares of Colgate-Palmolive in a research note on Tuesday, March 31st. UBS Group upped their price objective on shares of Colgate-Palmolive from $98.00 to $100.00 and gave the company a “buy” rating in a report on Monday, May 4th. JPMorgan Chase & Co. increased their price objective on shares of Colgate-Palmolive from $95.00 to $96.00 and gave the company an “overweight” rating in a research report on Monday, May 4th. Weiss Ratings upgraded shares of Colgate-Palmolive from a “hold (c)” rating to a “hold (c+)” rating in a research note on Monday, May 4th. Finally, Morgan Stanley reissued an “overweight” rating on shares of Colgate-Palmolive in a research report on Monday, May 4th. Twelve equities research analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the company. According to data from MarketBeat, Colgate-Palmolive currently has an average rating of “Moderate Buy” and an average price target of $96.29.

Colgate-Palmolive Stock Performance

Shares of CL opened at $92.31 on Friday. The stock has a 50-day moving average of $89.91 and a two-hundred day moving average of $88.10. Colgate-Palmolive Company has a one year low of $74.54 and a one year high of $99.33. The company has a debt-to-equity ratio of 16.33, a quick ratio of 0.67 and a current ratio of 1.02. The stock has a market cap of $73.86 billion, a P/E ratio of 35.92, a P/E/G ratio of 4.80 and a beta of 0.33.

Colgate-Palmolive (NYSE:CL) last announced its quarterly earnings data on Friday, May 1st. The company reported $0.97 earnings per share for the quarter, beating analysts’ consensus estimates of $0.94 by $0.03. Colgate-Palmolive had a return on equity of 386.76% and a net margin of 10.04%.The business had revenue of $5.32 billion for the quarter, compared to analyst estimates of $5.22 billion. During the same period in the prior year, the company earned $0.91 earnings per share. The company’s revenue was up 8.4% on a year-over-year basis. As a group, research analysts predict that Colgate-Palmolive Company will post 3.81 EPS for the current year.

Colgate-Palmolive Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, August 14th. Investors of record on Monday, July 20th will be issued a $0.53 dividend. This represents a $2.12 annualized dividend and a yield of 2.3%. The ex-dividend date is Monday, July 20th. Colgate-Palmolive’s dividend payout ratio is 82.49%.

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.