Colgate-Palmolive Company $CL Shares Sold by Pictet Asset Management Holding SA

Pictet Asset Management Holding SA trimmed its position in shares of Colgate-Palmolive Company (NYSE:CL) by 1.2% during the first quarter, Holdings Channel reports. The firm owned 453,860 shares of the company’s stock after selling 5,586 shares during the quarter. Pictet Asset Management Holding SA’s holdings in Colgate-Palmolive were worth $38,682,000 at the end of the most recent quarter.

Other institutional investors have also modified their holdings of the company. Norges Bank purchased a new stake in shares of Colgate-Palmolive in the 4th quarter valued at $861,670,000. Northwestern Mutual Wealth Management Co. boosted its holdings in Colgate-Palmolive by 8,040.1% during the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 4,655,987 shares of the company’s stock valued at $380,666,000 after acquiring an additional 4,598,789 shares during the period. Balyasny Asset Management L.P. acquired a new position in Colgate-Palmolive in the 4th quarter valued at about $236,682,000. Deutsche Bank AG increased its stake in Colgate-Palmolive by 33.9% during the fourth quarter. Deutsche Bank AG now owns 10,845,857 shares of the company’s stock worth $857,040,000 after purchasing an additional 2,746,920 shares during the period. Finally, Franklin Resources Inc. increased its stake in Colgate-Palmolive by 47.4% during the fourth quarter. Franklin Resources Inc. now owns 6,044,168 shares of the company’s stock worth $477,610,000 after purchasing an additional 1,942,946 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 $91.68 on Wednesday. Colgate-Palmolive Company has a 12 month low of $74.54 and a 12 month high of $99.33. The company has a debt-to-equity ratio of 16.33, a current ratio of 1.02 and a quick ratio of 0.67. The firm has a market capitalization of $73.36 billion, a PE ratio of 35.67, a price-to-earnings-growth ratio of 4.87 and a beta of 0.33. The business’s fifty day moving average price is $88.36 and its 200 day moving average price is $87.33.

Colgate-Palmolive (NYSE:CL) last announced its quarterly earnings results on Friday, May 1st. The company reported $0.97 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.94 by $0.03. The company had revenue of $5.32 billion during the quarter, compared to the consensus estimate of $5.22 billion. Colgate-Palmolive had a return on equity of 386.76% and a net margin of 10.04%.Colgate-Palmolive’s revenue for the quarter was up 8.4% on a year-over-year basis. During the same period in the previous year, the business earned $0.91 EPS. On average, sell-side analysts anticipate that Colgate-Palmolive Company will post 3.81 earnings per share for the current fiscal year.

Colgate-Palmolive Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, August 14th. Stockholders of record on Monday, July 20th will be given a dividend of $0.53 per share. This represents a $2.12 annualized dividend and a dividend yield of 2.3%. The ex-dividend date of this dividend is Monday, July 20th. Colgate-Palmolive’s dividend payout ratio (DPR) is 82.49%.

Analysts Set New Price Targets

Several research analysts have recently commented on the stock. TD Cowen restated a “hold” rating and issued a $85.00 price objective on shares of Colgate-Palmolive in a report on Tuesday, March 31st. Wells Fargo & Company decreased their price target on shares of Colgate-Palmolive from $100.00 to $92.00 and set an “equal weight” rating for the company in a research report on Wednesday, April 8th. Royal Bank Of Canada reaffirmed an “outperform” rating and set a $102.00 price objective on shares of Colgate-Palmolive in a research report on Monday, May 4th. UBS Group boosted their target price on Colgate-Palmolive from $98.00 to $100.00 and gave the stock a “buy” rating in a research note on Monday, May 4th. Finally, Deutsche Bank Aktiengesellschaft reiterated a “buy” rating and issued a $99.00 price objective on shares of Colgate-Palmolive in a research note on Monday, May 4th. Twelve investment analysts have rated the stock with a Buy rating and seven have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, Colgate-Palmolive currently has a consensus rating of “Moderate Buy” and an average target price of $95.88.

Colgate-Palmolive Company 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.