Acadian Asset Management LLC Decreases Stock Position in Colgate-Palmolive Company $CL

Key Points

• Acadian Asset Management LLC has reduced its stake in Colgate-Palmolive Company by 17.8%, owning 4,284,494 shares valued at approximately $401.42 million.
• Colgate-Palmolive reported a quarterly EPS of $0.92, beating analyst estimates, with a revenue of $5.11 billion, reflecting a year-over-year increase of 1.0%.
• The company declared a quarterly dividend of $0.52 per share, which translates to an annualized dividend of $2.08 and a yield of 2.5%.

Acadian Asset Management LLC lowered its position in shares of Colgate-Palmolive Company (NYSE:CL - Free Report) by 17.8% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 4,284,494 shares of the company's stock after selling 929,557 shares during the period. Colgate-Palmolive makes up approximately 1.1% of Acadian Asset Management LLC's portfolio, making the stock its 21st largest position. Acadian Asset Management LLC owned approximately 0.53% of Colgate-Palmolive worth $401,421,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Geneos Wealth Management Inc. increased its position in shares of Colgate-Palmolive by 25.8% during the first quarter. Geneos Wealth Management Inc. now owns 5,320 shares of the company's stock valued at $499,000 after acquiring an additional 1,092 shares in the last quarter. IFM Investors Pty Ltd grew its position in Colgate-Palmolive by 0.3% in the 1st quarter. IFM Investors Pty Ltd now owns 159,409 shares of the company's stock worth $14,937,000 after purchasing an additional 439 shares during the period. Blue Rock Wealth Management LLC bought a new stake in Colgate-Palmolive in the 1st quarter worth approximately $526,000. Belpointe Asset Management LLC grew its position in Colgate-Palmolive by 49.7% in the 1st quarter. Belpointe Asset Management LLC now owns 11,447 shares of the company's stock worth $1,073,000 after purchasing an additional 3,798 shares during the period. Finally, Intech Investment Management LLC grew its position in Colgate-Palmolive by 8.5% in the 1st quarter. Intech Investment Management LLC now owns 592,020 shares of the company's stock worth $55,472,000 after purchasing an additional 46,469 shares during the period. Institutional investors own 80.41% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have commented on the stock. JPMorgan Chase & Co. cut their target price on shares of Colgate-Palmolive from $99.00 to $95.00 and set an "overweight" rating for the company in a research report on Monday, August 4th. UBS Group cut their target price on shares of Colgate-Palmolive from $109.00 to $106.00 and set a "buy" rating for the company in a research report on Thursday, July 17th. Morgan Stanley cut their target price on shares of Colgate-Palmolive from $104.00 to $96.00 and set an "overweight" rating for the company in a research report on Monday, August 4th. Wells Fargo & Company cut their price objective on shares of Colgate-Palmolive from $88.00 to $83.00 and set an "underweight" rating for the company in a research report on Monday, August 4th. Finally, Citigroup cut their price objective on shares of Colgate-Palmolive from $108.00 to $105.00 and set a "buy" rating for the company in a research report on Monday, August 4th. Seven analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has given a Sell rating to the company's stock. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average target price of $98.00.

Colgate-Palmolive Price Performance

Shares of CL traded down $0.71 during trading hours on Friday, reaching $83.35. 3,169,120 shares of the stock traded hands, compared to its average volume of 4,484,784. The company has a current ratio of 0.89, a quick ratio of 0.57 and a debt-to-equity ratio of 6.79. Colgate-Palmolive Company has a 52-week low of $82.29 and a 52-week high of $106.26. The company's 50-day moving average price is $85.95 and its two-hundred day moving average price is $89.55. The company has a market cap of $67.37 billion, a P/E ratio of 23.41, a price-to-earnings-growth ratio of 4.37 and a beta of 0.35.

Colgate-Palmolive (NYSE:CL - Get Free Report) last released its earnings results on Friday, August 1st. The company reported $0.92 earnings per share for the quarter, beating analysts' consensus estimates of $0.89 by $0.03. Colgate-Palmolive had a net margin of 14.55% and a return on equity of 377.63%. The company had revenue of $5.11 billion for the quarter, compared to analysts' expectations of $5.03 billion. During the same quarter in the previous year, the company earned $0.91 EPS. Colgate-Palmolive's revenue for the quarter was up 1.0% on a year-over-year basis. On average, analysts anticipate that Colgate-Palmolive Company will post 3.75 earnings per share for the current year.

Colgate-Palmolive Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, November 14th. Investors of record on Friday, October 17th will be paid a dividend of $0.52 per share. The ex-dividend date is Friday, October 17th. This represents a $2.08 dividend on an annualized basis and a dividend yield of 2.5%. Colgate-Palmolive's payout ratio is 58.43%.

Colgate-Palmolive Company Profile

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.