AMI Asset Management Corp Sells 19,255 Shares of Colgate-Palmolive Company $CL

AMI Asset Management Corp decreased its holdings in Colgate-Palmolive Company (NYSE:CL) by 3.6% in the 3rd quarter, HoldingsChannel reports. The firm owned 518,183 shares of the company’s stock after selling 19,255 shares during the quarter. Colgate-Palmolive accounts for approximately 2.3% of AMI Asset Management Corp’s portfolio, making the stock its 20th largest position. AMI Asset Management Corp’s holdings in Colgate-Palmolive were worth $41,424,000 at the end of the most recent reporting period.

Several other large investors also recently made changes to their positions in CL. Cidel Asset Management Inc. boosted its holdings in Colgate-Palmolive by 13.6% during the second quarter. Cidel Asset Management Inc. now owns 329,060 shares of the company’s stock worth $29,912,000 after purchasing an additional 39,413 shares during the last quarter. Sequoia Financial Advisors LLC lifted its position in shares of Colgate-Palmolive by 18.6% during the 2nd quarter. Sequoia Financial Advisors LLC now owns 30,273 shares of the company’s stock worth $2,752,000 after buying an additional 4,738 shares in the last quarter. Vanguard Group Inc. boosted its stake in shares of Colgate-Palmolive by 1.2% in the 2nd quarter. Vanguard Group Inc. now owns 82,751,689 shares of the company’s stock worth $7,522,129,000 after buying an additional 993,432 shares during the last quarter. Welch Group LLC grew its holdings in shares of Colgate-Palmolive by 1.5% in the second quarter. Welch Group LLC now owns 665,041 shares of the company’s stock valued at $60,452,000 after acquiring an additional 9,689 shares in the last quarter. Finally, Arista Wealth Management LLC purchased a new stake in shares of Colgate-Palmolive during the second quarter valued at approximately $571,000. Institutional investors own 80.41% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on CL shares. Wells Fargo & Company reduced their price objective on Colgate-Palmolive from $80.00 to $77.00 and set an “underweight” rating for the company in a research note on Monday, November 3rd. Evercore ISI reduced their price target on shares of Colgate-Palmolive from $100.00 to $94.00 and set an “outperform” rating for the company in a research report on Monday, November 3rd. Deutsche Bank Aktiengesellschaft set a $86.00 price objective on shares of Colgate-Palmolive in a research report on Friday, October 10th. Raymond James Financial reduced their target price on shares of Colgate-Palmolive from $105.00 to $95.00 and set an “outperform” rating for the company in a research report on Monday, October 20th. Finally, JPMorgan Chase & Co. lifted their price target on shares of Colgate-Palmolive from $87.00 to $88.00 and gave the stock an “overweight” rating in a report on Thursday, December 18th. Ten research analysts have rated the stock with a Buy rating, five have given a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $88.81.

Colgate-Palmolive Price Performance

CL stock opened at $80.50 on Friday. The firm has a 50 day simple moving average of $78.49 and a two-hundred day simple moving average of $82.84. The stock has a market cap of $64.89 billion, a PE ratio of 22.55, a P/E/G ratio of 5.72 and a beta of 0.30. Colgate-Palmolive Company has a one year low of $74.54 and a one year 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.

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

Colgate-Palmolive Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, February 13th. Shareholders of record on Wednesday, January 21st will be paid a $0.52 dividend. The ex-dividend date of this dividend is Wednesday, January 21st. This represents a $2.08 annualized dividend and a yield of 2.6%. Colgate-Palmolive’s dividend payout ratio is currently 58.26%.

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.