Employees Retirement System of Texas Sells 870,287 Shares of Colgate-Palmolive Company $CL

Employees Retirement System of Texas reduced its position in shares of Colgate-Palmolive Company (NYSE:CL) by 96.7% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 29,556 shares of the company’s stock after selling 870,287 shares during the quarter. Employees Retirement System of Texas’ holdings in Colgate-Palmolive were worth $2,336,000 at the end of the most recent reporting period.

Several other institutional investors also recently modified their holdings of the company. CBIZ Investment Advisory Services LLC lifted its stake in Colgate-Palmolive by 86.7% in 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. Maseco LLP acquired a new position in Colgate-Palmolive during the fourth quarter worth approximately $27,000. Cloud Capital Management LLC bought a new stake in Colgate-Palmolive in the third quarter valued at approximately $30,000. Global Wealth Strategies & Associates raised its stake in Colgate-Palmolive by 300.0% in the fourth quarter. Global Wealth Strategies & Associates now owns 400 shares of the company’s stock valued at $32,000 after buying an additional 300 shares during the period. Finally, Grove Bank & Trust lifted its position in shares of Colgate-Palmolive by 182.6% in the fourth quarter. Grove Bank & Trust now owns 407 shares of the company’s stock valued at $32,000 after buying an additional 263 shares during the last quarter. 80.41% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of equities analysts have commented on the stock. Citigroup lifted their price objective on shares of Colgate-Palmolive from $95.00 to $105.00 and gave the stock a “buy” rating in a research report on Monday, February 2nd. Wall Street Zen lowered shares of Colgate-Palmolive from a “buy” rating to a “hold” rating in a research report on Sunday, March 29th. Deutsche Bank Aktiengesellschaft reaffirmed a “buy” rating and set a $99.00 target price on shares of Colgate-Palmolive in a report on Monday, May 4th. The Goldman Sachs Group reiterated a “buy” rating on shares of Colgate-Palmolive in a research note on Friday, May 1st. Finally, Wells Fargo & Company lowered their price target on shares of Colgate-Palmolive from $100.00 to $92.00 and set an “equal weight” rating on the stock in a report on Wednesday, April 8th. Twelve investment analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the stock. According to MarketBeat.com, Colgate-Palmolive presently has a consensus rating of “Moderate Buy” and a consensus price target of $95.88.

Colgate-Palmolive Stock Performance

Shares of Colgate-Palmolive stock opened at $91.24 on Thursday. The company has a 50 day moving average of $86.20 and a 200-day moving average of $85.51. The company has a market cap of $73.01 billion, a PE ratio of 35.50, a price-to-earnings-growth ratio of 4.67 and a beta of 0.31. The company has a current ratio of 1.02, a quick ratio of 0.67 and a debt-to-equity ratio of 16.33. Colgate-Palmolive Company has a 1-year low of $74.54 and a 1-year high of $99.33.

Colgate-Palmolive (NYSE:CL) last released its quarterly earnings data on Friday, May 1st. The company reported $0.97 earnings per share for the quarter, beating the consensus estimate 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 last year, the firm posted $0.91 earnings per share. Colgate-Palmolive’s revenue was up 8.4% compared to the same quarter last year. As a group, equities research analysts forecast that Colgate-Palmolive Company will post 3.82 earnings per share for the current fiscal year.

Colgate-Palmolive Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, May 15th. Stockholders of record on Monday, April 20th were paid a $0.53 dividend. This is an increase from Colgate-Palmolive’s previous quarterly dividend of $0.52. This represents a $2.12 annualized dividend and a dividend yield of 2.3%. The ex-dividend date of this dividend was Monday, April 20th. Colgate-Palmolive’s payout ratio is currently 82.49%.

About Colgate-Palmolive

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.