California Public Employees Retirement System Sells 1,211,449 Shares of Colgate-Palmolive Company $CL

Key Points

• CalPERS reduced its Colgate-Palmolive stake by 39% in the first quarter, selling 1.21 million shares and leaving it with about 1.90 million shares valued at roughly $161.8 million.
• Colgate-Palmolive posted stronger-than-expected results in its latest quarter, beating EPS and revenue estimates as sales rose 8.4% year over year.
• The company continues to offer income to shareholders, declaring a quarterly dividend of $0.53 per share, which annualizes to $2.12 and yields about 2.3%.

California Public Employees Retirement System cut its holdings in Colgate-Palmolive Company (NYSE:CL - Free Report) by 39.0% in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 1,898,485 shares of the company's stock after selling 1,211,449 shares during the quarter. California Public Employees Retirement System owned about 0.24% of Colgate-Palmolive worth $161,808,000 at the end of the most recent quarter.

Several other large investors also recently added to or reduced their stakes in CL. Kemnay Advisory Services Inc. bought a new position in shares of Colgate-Palmolive during the 4th quarter valued at $25,000. CBIZ Investment Advisory Services LLC lifted its stake in shares of Colgate-Palmolive by 86.7% in the 4th quarter. CBIZ Investment Advisory Services LLC now owns 323 shares of the company's stock valued at $26,000 after purchasing an additional 150 shares during the last quarter. TD Capital Management LLC boosted its holdings in Colgate-Palmolive by 61.4% in the fourth quarter. TD Capital Management LLC now owns 326 shares of the company's stock worth $26,000 after purchasing an additional 124 shares in the last quarter. Triumph Capital Management boosted its holdings in Colgate-Palmolive by 62.9% in the fourth quarter. Triumph Capital Management now owns 329 shares of the company's stock worth $26,000 after purchasing an additional 127 shares in the last quarter. Finally, Jessup Wealth Management Inc acquired a new position in Colgate-Palmolive during the fourth quarter worth $26,000. 80.41% of the stock is owned by institutional investors.

Colgate-Palmolive Trading Down 1.3%

Colgate-Palmolive stock opened at $92.84 on Friday. Colgate-Palmolive Company has a 52 week low of $74.54 and a 52 week high of $99.33. The company has a debt-to-equity ratio of 16.33, a quick ratio of 0.67 and a current ratio of 1.02. The firm has a market capitalization of $74.29 billion, a PE ratio of 36.12, a PEG ratio of 4.90 and a beta of 0.33. The business's 50-day simple moving average is $90.46 and its 200-day simple moving average is $88.54.

Colgate-Palmolive (NYSE:CL - Get Free Report) last announced its earnings results on Friday, May 1st. The company reported $0.97 earnings per share for the quarter, beating the consensus estimate of $0.94 by $0.03. The firm had revenue of $5.32 billion during the quarter, compared to the consensus estimate of $5.22 billion. Colgate-Palmolive had a return on equity of 386.76% and a net margin of 10.04%.The firm's revenue for the quarter was up 8.4% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.91 EPS. Equities research analysts forecast that Colgate-Palmolive Company will post 3.81 earnings per share for the current year.

Colgate-Palmolive Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, August 14th. Stockholders of record on Monday, July 20th will be paid a $0.53 dividend. The ex-dividend date is Monday, July 20th. This represents a $2.12 annualized dividend and a dividend yield of 2.3%. Colgate-Palmolive's dividend payout ratio (DPR) is presently 82.49%.

Analysts Set New Price Targets

CL has been the subject of a number of analyst reports. Royal Bank Of Canada reaffirmed an "outperform" rating and issued a $102.00 price target on shares of Colgate-Palmolive in a research report on Monday, May 4th. Wells Fargo & Company increased their price objective on Colgate-Palmolive from $92.00 to $95.00 and gave the company an "equal weight" rating in a report on Wednesday, July 8th. Citigroup raised their price objective on Colgate-Palmolive from $105.00 to $110.00 and gave the company a "buy" rating in a research note on Tuesday. Wall Street Zen cut Colgate-Palmolive from a "buy" rating to a "hold" rating in a research report on Sunday, March 29th. Finally, UBS Group increased their price target on Colgate-Palmolive from $100.00 to $106.00 and gave the company a "buy" rating in a report on Thursday. Twelve analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average target price of $97.41.

Colgate-Palmolive Company Profile

Colgate-Palmolive Company is a global consumer products company with a long history in household and personal care categories. The business traces its roots to the early 19th century and has evolved into a multinational manufacturer and marketer of everyday consumer goods focused on health, hygiene and home care.

The company's core activities center on oral care, personal care, home care and pet nutrition. Its product portfolio includes toothpaste, toothbrushes and mouthwash in oral care; soaps, body washes and deodorants in personal care; dishwashing liquids, surface cleaners and other household products in home care; and scientifically formulated pet foods under its pet nutrition business.

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