BDF Gestion Has $2.96 Million Stock Position in Colgate-Palmolive Company $CL

Key Points

• BDF Gestion reduced its stake in Colgate-Palmolive by 9.8%, selling 3,549 shares and now holding 32,570 shares valued at approximately $2.96 million.
• Colgate-Palmolive recently announced a quarterly dividend of $0.52 per share, with a yield of 2.6%.
• Analysts have a consensus rating of "Moderate Buy" for Colgate-Palmolive, with an average target price of $98.00 despite some firms lowering their price targets recently.

BDF Gestion trimmed its stake in Colgate-Palmolive Company (NYSE:CL - Free Report) by 9.8% in the second quarter, according to the company in its most recent disclosure with the SEC. The firm owned 32,570 shares of the company's stock after selling 3,549 shares during the quarter. BDF Gestion's holdings in Colgate-Palmolive were worth $2,961,000 as of its most recent filing with the SEC.

A number of other large investors also recently modified their holdings of the company. Bridge Creek Capital Management LLC raised its holdings in shares of Colgate-Palmolive by 1.6% in the 2nd quarter. Bridge Creek Capital Management LLC now owns 58,260 shares of the company's stock worth $5,296,000 after purchasing an additional 895 shares during the period. Thomasville National Bank raised its holdings in shares of Colgate-Palmolive by 2.2% in the 2nd quarter. Thomasville National Bank now owns 7,730 shares of the company's stock worth $703,000 after purchasing an additional 170 shares during the period. Diversified Trust Co raised its holdings in shares of Colgate-Palmolive by 6.8% in the 2nd quarter. Diversified Trust Co now owns 85,111 shares of the company's stock worth $7,737,000 after purchasing an additional 5,415 shares during the period. IFM Investors Pty Ltd raised its holdings in shares of Colgate-Palmolive by 3.1% in the 2nd quarter. IFM Investors Pty Ltd now owns 164,288 shares of the company's stock worth $14,934,000 after purchasing an additional 4,879 shares during the period. Finally, Carderock Capital Management Inc. purchased a new position in shares of Colgate-Palmolive in the 2nd quarter worth about $73,000. 80.41% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

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

Colgate-Palmolive Stock Performance

CL traded down $0.30 on Friday, hitting $81.23. 14,727,470 shares of the stock traded hands, compared to its average volume of 5,043,141. Colgate-Palmolive Company has a 52 week low of $81.01 and a 52 week high of $104.49. The company has a current ratio of 0.89, a quick ratio of 0.57 and a debt-to-equity ratio of 6.79. The firm has a market capitalization of $65.65 billion, a PE ratio of 22.82, a P/E/G ratio of 4.22 and a beta of 0.35. The business has a fifty day moving average price of $84.97 and a two-hundred day moving average price of $89.18.

Colgate-Palmolive (NYSE:CL - Get Free Report) last issued its quarterly earnings results on Friday, August 1st. The company reported $0.92 earnings per share (EPS) 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 firm 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 company's quarterly revenue was up 1.0% compared to the same quarter last year. On average, research analysts predict that Colgate-Palmolive Company will post 3.75 EPS for the current fiscal year.

Colgate-Palmolive Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, November 14th. Stockholders of record on Friday, October 17th will be issued a $0.52 dividend. This represents a $2.08 annualized dividend and a dividend yield of 2.6%. The ex-dividend date of this dividend is Friday, October 17th. Colgate-Palmolive's payout ratio is presently 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.