APG Asset Management N.V. Sells 129,987 Shares of Colgate-Palmolive Company $CL

Key Points

• APG Asset Management N.V. reduced its stake in Colgate-Palmolive by 9.5%, now owning approximately $107.1 million worth of company shares after selling 129,987 shares.
• Colgate-Palmolive's stock received a consensus rating of "Moderate Buy" from analysts, with an average price target of $98.92.
• The company's quarterly earnings report showed an EPS of $0.92, surpassing analyst estimates, with a revenue of $5.11 billion, representing a 1.0% increase compared to the previous year.

APG Asset Management N.V. trimmed its stake in shares of Colgate-Palmolive Company (NYSE:CL - Free Report) by 9.5% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,234,714 shares of the company's stock after selling 129,987 shares during the quarter. APG Asset Management N.V. owned approximately 0.15% of Colgate-Palmolive worth $107,103,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also bought and sold shares of the company. Westend Capital Management LLC grew its position in Colgate-Palmolive by 111.1% during the 1st quarter. Westend Capital Management LLC now owns 266 shares of the company's stock worth $25,000 after acquiring an additional 140 shares during the last quarter. Cornerstone Planning Group LLC grew its position in Colgate-Palmolive by 1,913.3% during the 1st quarter. Cornerstone Planning Group LLC now owns 302 shares of the company's stock worth $28,000 after acquiring an additional 287 shares during the last quarter. Vermillion Wealth Management Inc. bought a new position in Colgate-Palmolive during the 4th quarter worth approximately $31,000. Accredited Wealth Management LLC bought a new stake in shares of Colgate-Palmolive in the 4th quarter worth approximately $34,000. Finally, Bernard Wealth Management Corp. bought a new stake in shares of Colgate-Palmolive in the 4th quarter worth approximately $36,000. 80.41% of the stock is currently owned by institutional investors.

Colgate-Palmolive Stock Up 0.3%

Shares of NYSE CL traded up $0.23 during mid-day trading on Wednesday, hitting $84.37. 4,189,125 shares of the stock traded hands, compared to its average volume of 5,214,208. The company has a debt-to-equity ratio of 6.79, a quick ratio of 0.57 and a current ratio of 0.89. Colgate-Palmolive Company has a 52 week low of $82.40 and a 52 week high of $109.30. The company has a market cap of $68.19 billion, a price-to-earnings ratio of 23.70, a PEG ratio of 4.37 and a beta of 0.35. The stock has a fifty day moving average price of $87.39 and a 200-day moving average price of $89.90.

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

Colgate-Palmolive Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, August 15th. Shareholders of record on Friday, July 18th were issued a $0.52 dividend. This represents a $2.08 annualized dividend and a yield of 2.5%. The ex-dividend date of this dividend was Friday, July 18th. Colgate-Palmolive's payout ratio is 58.43%.

Analyst Upgrades and Downgrades

CL has been the topic of a number of recent analyst reports. JPMorgan Chase & Co. cut their price objective on Colgate-Palmolive from $99.00 to $95.00 and set an "overweight" rating on the stock in a research report on Monday, August 4th. UBS Group cut their price objective on Colgate-Palmolive from $109.00 to $106.00 and set a "buy" rating on the stock in a research report on Thursday, July 17th. Wells Fargo & Company cut their price objective on Colgate-Palmolive from $88.00 to $83.00 and set an "underweight" rating on the stock in a research report on Monday, August 4th. Wall Street Zen lowered Colgate-Palmolive from a "buy" rating to a "hold" rating in a research report on Wednesday, May 7th. Finally, Barclays lifted their price objective on Colgate-Palmolive from $86.00 to $87.00 and gave the stock an "equal weight" rating in a research report on Tuesday, July 15th. Seven analysts have rated the stock with a Buy rating, four have given a Hold rating and one has assigned a Sell rating to the company's stock. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average target price of $98.92.

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.