Financial Gravity Asset Management Inc. Cuts Stake in Colgate-Palmolive (NYSE:CL)

Financial Gravity Asset Management Inc. decreased its position in Colgate-Palmolive (NYSE:CLGet Rating) by 70.5% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 2,854 shares of the company’s stock after selling 6,815 shares during the period. Financial Gravity Asset Management Inc.’s holdings in Colgate-Palmolive were worth $200,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also made changes to their positions in CL. Northern Trust Corp increased its holdings in Colgate-Palmolive by 0.5% in the first quarter. Northern Trust Corp now owns 10,470,409 shares of the company’s stock valued at $793,971,000 after buying an additional 50,040 shares in the last quarter. Deutsche Bank AG raised its holdings in Colgate-Palmolive by 33.3% during the second quarter. Deutsche Bank AG now owns 10,441,903 shares of the company’s stock worth $836,815,000 after purchasing an additional 2,610,321 shares during the last quarter. Legal & General Group Plc grew its holdings in Colgate-Palmolive by 4.1% in the second quarter. Legal & General Group Plc now owns 7,709,706 shares of the company’s stock valued at $617,858,000 after purchasing an additional 301,219 shares during the last quarter. Renaissance Technologies LLC increased its position in shares of Colgate-Palmolive by 151.6% in the first quarter. Renaissance Technologies LLC now owns 5,688,786 shares of the company’s stock valued at $431,381,000 after buying an additional 3,427,400 shares in the last quarter. Finally, Banque Pictet & Cie SA raised its stake in shares of Colgate-Palmolive by 2.3% during the 2nd quarter. Banque Pictet & Cie SA now owns 4,475,560 shares of the company’s stock worth $358,671,000 after buying an additional 99,100 shares during the last quarter. 77.63% of the stock is currently owned by institutional investors and hedge funds.

Colgate-Palmolive Stock Up 0.1 %

Shares of NYSE CL opened at $75.50 on Tuesday. The stock has a fifty day moving average price of $77.72 and a 200 day moving average price of $76.73. The company has a market cap of $63.06 billion, a P/E ratio of 32.83, a P/E/G ratio of 6.61 and a beta of 0.51. Colgate-Palmolive has a 12-month low of $67.84 and a 12-month high of $84.75. The company has a current ratio of 1.17, a quick ratio of 0.71 and a debt-to-equity ratio of 7.81.

Colgate-Palmolive (NYSE:CLGet Rating) last posted its quarterly earnings data on Friday, October 28th. The company reported $0.74 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.74. Colgate-Palmolive had a net margin of 10.87% and a return on equity of 304.29%. The company had revenue of $4.46 billion for the quarter, compared to analyst estimates of $4.47 billion. During the same quarter last year, the firm posted $0.81 earnings per share. The business’s quarterly revenue was up .9% on a year-over-year basis. Research analysts anticipate that Colgate-Palmolive will post 2.97 EPS for the current fiscal year.

Colgate-Palmolive Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, February 14th. Investors of record on Monday, January 23rd will be given a dividend of $0.47 per share. The ex-dividend date is Friday, January 20th. This represents a $1.88 dividend on an annualized basis and a yield of 2.49%. Colgate-Palmolive’s dividend payout ratio is currently 81.74%.

Wall Street Analysts Forecast Growth

CL has been the subject of several recent research reports. Credit Suisse Group dropped their target price on shares of Colgate-Palmolive from $88.00 to $85.00 and set an “outperform” rating for the company in a report on Tuesday, October 18th. StockNews.com raised shares of Colgate-Palmolive from a “hold” rating to a “buy” rating in a research note on Thursday, December 15th. JPMorgan Chase & Co. upped their target price on Colgate-Palmolive from $81.00 to $86.00 and gave the company an “overweight” rating in a research note on Friday, January 13th. Wolfe Research initiated coverage on Colgate-Palmolive in a research report on Monday, November 21st. They set a “market perform” rating for the company. Finally, Deutsche Bank Aktiengesellschaft increased their price objective on Colgate-Palmolive from $85.00 to $87.00 and gave the company a “buy” rating in a research note on Tuesday, December 6th. Eight analysts have rated the stock with a hold rating and six have given a buy rating to the stock. According to MarketBeat, Colgate-Palmolive presently has an average rating of “Hold” and an average target price of $83.58.

About Colgate-Palmolive

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Colgate-Palmolive Co is engaged in the manufacturing and distribution of consumer products. It operates through Oral, Personal and Home Care and Pet Nutrition segments. The Oral, Personal and Home Care segment represents North America, Latin America, Europe, Asia Pacific, and Africa or Eurasia, all of which sell to a variety of retail and wholesale customers and distributors.

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Institutional Ownership by Quarter for Colgate-Palmolive (NYSE:CL)

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