Amundi Sells 4,079,350 Shares of Colgate-Palmolive Company $CL

Key Points

• Amundi reduced its stake in Colgate-Palmolive by 44.3%, now holding 5,120,794 shares valued at approximately $491.58 million.
• Vanguard Group and other institutional investors have increased their holdings, with Vanguard now owning over 81 million shares worth $7.66 billion.
• Colgate-Palmolive reported earnings of $0.92 per share for the last quarter, exceeding analyst expectations and showing a 1% year-over-year revenue increase to $5.11 billion.

Amundi lessened its holdings in Colgate-Palmolive Company (NYSE:CL - Free Report) by 44.3% in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 5,120,794 shares of the company's stock after selling 4,079,350 shares during the period. Amundi owned about 0.63% of Colgate-Palmolive worth $491,581,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also modified their holdings of the company. Westend Capital Management LLC raised its holdings in shares of Colgate-Palmolive by 111.1% during the first quarter. Westend Capital Management LLC now owns 266 shares of the company's stock worth $25,000 after acquiring an additional 140 shares in the last quarter. Cornerstone Planning Group LLC raised its holdings in Colgate-Palmolive by 1,913.3% during the first quarter. Cornerstone Planning Group LLC now owns 302 shares of the company's stock valued at $28,000 after buying an additional 287 shares in the last quarter. Saudi Central Bank bought a new position in Colgate-Palmolive during the first quarter valued at about $29,000. Vermillion Wealth Management Inc. bought a new position in Colgate-Palmolive during the fourth quarter valued at about $31,000. Finally, Bernard Wealth Management Corp. bought a new position in Colgate-Palmolive during the fourth quarter valued at about $36,000. Institutional investors and hedge funds own 80.41% of the company's stock.

Colgate-Palmolive Price Performance

NYSE CL traded down $0.98 during trading on Monday, reaching $84.15. 3,942,060 shares of the company traded hands, compared to its average volume of 5,212,333. The company has a debt-to-equity ratio of 6.79, a quick ratio of 0.57 and a current ratio of 0.89. The stock's 50 day moving average price is $86.74 and its two-hundred day moving average price is $89.77. The company has a market cap of $68.01 billion, a price-to-earnings ratio of 23.64, a P/E/G ratio of 4.43 and a beta of 0.35. Colgate-Palmolive Company has a 1-year low of $82.40 and a 1-year high of $107.82.

Colgate-Palmolive (NYSE:CL - Get Free Report) last posted its earnings results on Friday, August 1st. The company reported $0.92 earnings per share (EPS) 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 during the quarter, compared to analysts' expectations of $5.03 billion. During the same quarter in the previous year, the company posted $0.91 earnings per share. Colgate-Palmolive's quarterly revenue was up 1.0% compared to the same quarter last year. As a group, analysts anticipate that Colgate-Palmolive Company will post 3.75 EPS for the current year.

Colgate-Palmolive Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, August 15th. Stockholders of record on Friday, July 18th were paid a $0.52 dividend. The ex-dividend date was Friday, July 18th. 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%.

Wall Street Analyst Weigh In

Several equities analysts have weighed in on the company. Barclays raised their target price on Colgate-Palmolive from $86.00 to $87.00 and gave the company an "equal weight" rating in a report on Tuesday, July 15th. Wells Fargo & Company dropped their price objective on Colgate-Palmolive from $88.00 to $83.00 and set an "underweight" rating on the stock in a research note on Monday, August 4th. UBS Group dropped their price objective on Colgate-Palmolive from $109.00 to $106.00 and set a "buy" rating on the stock in a research note on Thursday, July 17th. Morgan Stanley dropped their price objective on Colgate-Palmolive from $104.00 to $96.00 and set an "overweight" rating on the stock in a research note on Monday, August 4th. Finally, Citigroup dropped their price objective on Colgate-Palmolive from $108.00 to $105.00 and set a "buy" rating on the stock in a research note on Monday, August 4th. Seven equities research analysts have rated the stock with a Buy rating, four have given a Hold rating and one has given a Sell rating to the company's stock. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and an average target price of $98.92.

Colgate-Palmolive 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.