Colgate-Palmolive Company $CL Position Trimmed by Clearbridge Investments LLC

Clearbridge Investments LLC reduced its stake in Colgate-Palmolive Company (NYSE:CL) by 47.2% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 385,024 shares of the company’s stock after selling 344,553 shares during the period. Clearbridge Investments LLC’s holdings in Colgate-Palmolive were worth $30,425,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently bought and sold shares of CL. Brighton Jones LLC boosted its stake in Colgate-Palmolive by 4.4% in the fourth quarter. Brighton Jones LLC now owns 10,578 shares of the company’s stock valued at $962,000 after acquiring an additional 450 shares during the period. Woodline Partners LP grew its position in shares of Colgate-Palmolive by 76.3% during the first quarter. Woodline Partners LP now owns 46,361 shares of the company’s stock worth $4,344,000 after acquiring an additional 20,062 shares during the last quarter. Schnieders Capital Management LLC. grew its position in shares of Colgate-Palmolive by 2.0% during the second quarter. Schnieders Capital Management LLC. now owns 12,494 shares of the company’s stock worth $1,136,000 after acquiring an additional 245 shares during the last quarter. Nebula Research & Development LLC grew its position in shares of Colgate-Palmolive by 165.5% during the second quarter. Nebula Research & Development LLC now owns 10,326 shares of the company’s stock worth $939,000 after acquiring an additional 6,437 shares during the last quarter. Finally, Sei Investments Co. grew its position in shares of Colgate-Palmolive by 21.7% during the second quarter. Sei Investments Co. now owns 657,093 shares of the company’s stock worth $59,732,000 after acquiring an additional 116,968 shares during the last quarter. 80.41% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several equities analysts have recently commented on CL shares. Wells Fargo & Company lowered 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. The Goldman Sachs Group restated a “buy” rating on shares of Colgate-Palmolive in a research report on Friday, May 1st. JPMorgan Chase & Co. upped their price target on shares of Colgate-Palmolive from $95.00 to $96.00 and gave the stock an “overweight” rating in a research report on Monday, May 4th. Weiss Ratings upgraded shares of Colgate-Palmolive from a “hold (c)” rating to a “hold (c+)” rating in a research report on Monday, May 4th. Finally, Royal Bank Of Canada restated an “outperform” rating and set a $102.00 price target on shares of Colgate-Palmolive in a research report on Monday, May 4th. Twelve analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $95.88.

Colgate-Palmolive Stock Performance

CL stock opened at $87.74 on Wednesday. The company has a market capitalization of $70.21 billion, a P/E ratio of 34.14, a PEG ratio of 4.47 and a beta of 0.33. The company has a 50-day simple moving average of $86.60 and a 200 day simple moving average of $86.09. Colgate-Palmolive Company has a fifty-two week low of $74.54 and a fifty-two week high of $99.33. The company has a quick ratio of 0.67, a current ratio of 1.02 and a debt-to-equity ratio of 16.33.

Colgate-Palmolive (NYSE:CL) last posted its quarterly earnings data on Friday, May 1st. The company reported $0.97 earnings per share for the quarter, topping the consensus estimate of $0.94 by $0.03. The business had revenue of $5.32 billion during the quarter, compared to the consensus estimate of $5.22 billion. Colgate-Palmolive had a net margin of 10.04% and a return on equity of 386.76%. The company’s quarterly revenue was up 8.4% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.91 earnings per share. Sell-side analysts predict that Colgate-Palmolive Company will post 3.82 earnings per share for the current fiscal year.

Colgate-Palmolive Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, May 15th. Investors of record on Monday, April 20th were issued a $0.53 dividend. The ex-dividend date of this dividend was Monday, April 20th. This is an increase from Colgate-Palmolive’s previous quarterly dividend of $0.52. This represents a $2.12 annualized dividend and a yield of 2.4%. Colgate-Palmolive’s dividend payout ratio is currently 82.49%.

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.