Asset Management One Co. Ltd. Decreases Position in Colgate-Palmolive Company $CL

Key Points

• Asset Management One Co. Ltd. reduced its stake in Colgate-Palmolive Company by 1.9%, selling 7,673 shares, and now holds 406,275 shares valued at approximately $36.93 million.
• In the first quarter, several hedge funds significantly increased their positions in Colgate-Palmolive, with Cornerstone Planning Group LLC raising its stake by a remarkable 1,913.3%.
• Colgate-Palmolive recently announced a quarterly dividend of $0.52 per share, with an annualized yield of 2.7%, scheduled to be paid on November 14th.

Asset Management One Co. Ltd. lessened its holdings in Colgate-Palmolive Company (NYSE:CL - Free Report) by 1.9% during the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 406,275 shares of the company's stock after selling 7,673 shares during the quarter. Asset Management One Co. Ltd. owned 0.05% of Colgate-Palmolive worth $36,930,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also recently modified their holdings of the company. Westend Capital Management LLC increased its position in shares of Colgate-Palmolive by 111.1% in the first quarter. Westend Capital Management LLC now owns 266 shares of the company's stock valued at $25,000 after acquiring an additional 140 shares during the period. Cornerstone Planning Group LLC increased its position in shares of Colgate-Palmolive by 1,913.3% in the first quarter. Cornerstone Planning Group LLC now owns 302 shares of the company's stock valued at $28,000 after acquiring an additional 287 shares during the period. Saudi Central Bank purchased a new position in shares of Colgate-Palmolive in the first quarter valued at about $29,000. Ransom Advisory Ltd purchased a new position in shares of Colgate-Palmolive in the first quarter valued at about $33,000. Finally, Y.D. More Investments Ltd purchased a new position in shares of Colgate-Palmolive in the first quarter valued at about $37,000. Hedge funds and other institutional investors own 80.41% of the company's stock.

Colgate-Palmolive Trading Down 0.6%

Shares of CL opened at $78.01 on Friday. The firm's 50-day moving average price is $81.33 and its 200-day moving average price is $86.94. The firm has a market capitalization of $63.05 billion, a price-to-earnings ratio of 21.91, a PEG ratio of 4.60 and a beta of 0.34. 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 1-year low of $76.68 and a 1-year high of $100.18.

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

Colgate-Palmolive Announces Dividend

The firm also recently disclosed 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 of this dividend is Friday, October 17th. This represents a $2.08 annualized dividend and a yield of 2.7%. Colgate-Palmolive's payout ratio is presently 58.43%.

Analyst Ratings Changes

A number of equities analysts have issued reports on the stock. Bank of America decreased their price objective on shares of Colgate-Palmolive from $98.00 to $88.00 and set a "buy" rating on the stock in a research report on Wednesday, October 8th. Piper Sandler began coverage on shares of Colgate-Palmolive in a research report on Friday, October 3rd. They issued a "neutral" rating and a $84.00 price objective on the stock. Wells Fargo & Company cut their target price on shares of Colgate-Palmolive from $83.00 to $80.00 and set an "underweight" rating on the stock in a research note on Thursday, September 25th. Morgan Stanley cut their target price on shares of 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, JPMorgan Chase & Co. cut their target price on shares of Colgate-Palmolive from $95.00 to $88.00 and set an "overweight" rating on the stock in a research note on Friday, October 10th. Eight analysts have rated the stock with a Buy rating, five have given a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average price target of $91.50.

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.

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