Colgate-Palmolive Company $CL Stake Reduced by California Public Employees Retirement System

California Public Employees Retirement System trimmed its stake in Colgate-Palmolive Company (NYSE:CL) by 4.4% during the second quarter, according to its most recent disclosure with the SEC. The fund owned 3,536,836 shares of the company’s stock after selling 162,754 shares during the quarter. California Public Employees Retirement System owned approximately 0.44% of Colgate-Palmolive worth $321,498,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Westside Investment Management Inc. lifted its position in 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 purchasing an additional 130 shares during the last quarter. Saudi Central Bank bought a new stake in shares of Colgate-Palmolive during the first quarter valued at approximately $29,000. Vermillion & White Wealth Management Group LLC boosted its position in shares of Colgate-Palmolive by 86.1% during the second quarter. Vermillion & White Wealth Management Group LLC now owns 335 shares of the company’s stock worth $30,000 after buying an additional 155 shares during the period. Ransom Advisory Ltd bought a new position in Colgate-Palmolive in the 1st quarter worth approximately $33,000. Finally, Y.D. More Investments Ltd acquired a new stake in Colgate-Palmolive in the 1st quarter valued at approximately $37,000. Institutional investors and hedge funds own 80.41% of the company’s stock.

Colgate-Palmolive Stock Up 0.6%

CL stock opened at $78.04 on Friday. The firm has a market cap of $62.91 billion, a PE ratio of 21.86, a P/E/G ratio of 5.56 and a beta of 0.30. Colgate-Palmolive Company has a 12 month low of $74.54 and a 12 month high of $100.18. 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 simple moving average of $78.42 and a 200 day simple moving average of $84.04.

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

Colgate-Palmolive Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, November 14th. Investors of record on Friday, October 17th were given a $0.52 dividend. The ex-dividend date was Friday, October 17th. This represents a $2.08 dividend on an annualized basis and a dividend yield of 2.7%. Colgate-Palmolive’s dividend payout ratio (DPR) is 58.26%.

Wall Street Analysts Forecast Growth

Several research analysts have recently issued reports on CL shares. UBS Group decreased their price target on Colgate-Palmolive from $92.00 to $90.00 and set a “buy” rating for the company in a research note on Monday, November 3rd. JPMorgan Chase & Co. reduced their price objective on shares of Colgate-Palmolive from $88.00 to $87.00 and set an “overweight” rating for the company in a report on Monday, November 3rd. Citigroup lowered their target price on shares of Colgate-Palmolive from $105.00 to $95.00 and set a “buy” rating on the stock in a research note on Monday, November 3rd. Raymond James Financial reduced their price target on shares of Colgate-Palmolive from $105.00 to $95.00 and set an “outperform” rating for the company in a research note on Monday, October 20th. Finally, Barclays decreased their price objective on shares of Colgate-Palmolive from $82.00 to $80.00 and set an “equal weight” rating for the company in a report on Tuesday, November 4th. Nine investment analysts have rated the stock with a Buy rating, five have assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $89.87.

About Colgate-Palmolive

Colgate-Palmolive Company, together with its subsidiaries, manufactures and sells consumer products in the United States and internationally. It operates through two segments: Oral, Personal and Home Care; and Pet Nutrition. The Oral, Personal and Home Care segment offers toothpaste, toothbrushes, mouthwash, bar and liquid hand soaps, shower gels, shampoos, conditioners, deodorants and antiperspirants, skin health products, dishwashing detergents, fabric conditioners, household cleaners, and other related items.