Carmignac Gestion Sells 59,072 Shares of Colgate-Palmolive Company $CL

Key Points

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Carmignac Gestion lessened its holdings in shares of Colgate-Palmolive Company (NYSE:CL - Free Report) by 13.9% during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 367,042 shares of the company's stock after selling 59,072 shares during the period. Carmignac Gestion's holdings in Colgate-Palmolive were worth $34,343,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. Westend Capital Management LLC grew its position in shares of 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 purchasing an additional 140 shares in the last quarter. Cornerstone Planning Group LLC boosted its position in shares of 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 in the last quarter. Vermillion Wealth Management Inc. acquired a new stake in shares of Colgate-Palmolive during the 4th quarter worth approximately $31,000. Accredited Wealth Management LLC acquired a new stake in shares of Colgate-Palmolive during the 4th quarter worth approximately $34,000. Finally, Bernard Wealth Management Corp. acquired a new stake in shares of Colgate-Palmolive during the 4th quarter worth approximately $36,000. Institutional investors and hedge funds own 80.41% of the company's stock.

Analyst Upgrades and Downgrades

Several research firms recently issued reports on CL. Wall Street Zen lowered shares of Colgate-Palmolive from a "buy" rating to a "hold" rating in a research report on Wednesday, May 7th. JPMorgan Chase & Co. reduced their price target on shares of Colgate-Palmolive from $99.00 to $95.00 and set an "overweight" rating on the stock in a research report on Monday, August 4th. Wells Fargo & Company reduced their price target on shares of Colgate-Palmolive from $88.00 to $83.00 and set an "underweight" rating on the stock in a research report on Monday, August 4th. Barclays increased their price target on shares of Colgate-Palmolive from $86.00 to $87.00 and gave the stock an "equal weight" rating in a research report on Tuesday, July 15th. Finally, Citigroup dropped their price objective on shares of Colgate-Palmolive from $108.00 to $105.00 and set a "buy" rating for the company 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 issued a Sell rating to the company's stock. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average price target of $98.92.

Colgate-Palmolive Price Performance

NYSE:CL traded down $0.5010 on Friday, hitting $85.7790. The company had a trading volume of 4,087,413 shares, compared to its average volume of 5,056,872. The stock has a market capitalization of $69.33 billion, a price-to-earnings ratio of 24.10, a PEG ratio of 4.49 and a beta of 0.35. 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 50 day moving average of $87.60 and a two-hundred day moving average of $89.91. Colgate-Palmolive Company has a 52 week low of $82.40 and a 52 week high of $109.30.

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

Colgate-Palmolive Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, August 15th. Stockholders of record on Friday, July 18th were paid a dividend of $0.52 per share. The ex-dividend date of this dividend was Friday, July 18th. This represents a $2.08 annualized dividend and a dividend yield of 2.4%. Colgate-Palmolive's dividend payout ratio (DPR) 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.