Coho Partners Ltd. Lowers Stock Holdings in Colgate-Palmolive Company $CL

Key Points

• Coho Partners Ltd. has reduced its stake in Colgate-Palmolive Company by 10.4%, selling 5,670 shares in the second quarter, leaving them with a total of 48,867 shares valued at approximately $4.44 million.
• Colgate-Palmolive recently reported earnings of $0.92 per share, exceeding analysts' expectations and highlighting a quarterly revenue of $5.11 billion, which is a 1% increase from the previous year.
• The company announced a quarterly dividend of $0.52 per share with a payout ratio of 58.43%, resulting in an annualized dividend yield of 2.7%.

Coho Partners Ltd. trimmed its position in shares of Colgate-Palmolive Company (NYSE:CL - Free Report) by 10.4% in the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 48,867 shares of the company's stock after selling 5,670 shares during the quarter. Coho Partners Ltd.'s holdings in Colgate-Palmolive were worth $4,442,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also made changes to their positions in the business. Vanguard Group Inc. boosted its stake in shares of Colgate-Palmolive by 0.6% in the first quarter. Vanguard Group Inc. now owns 81,758,257 shares of the company's stock valued at $7,660,749,000 after purchasing an additional 455,198 shares during the period. Price T Rowe Associates Inc. MD boosted its position in Colgate-Palmolive by 18.3% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 34,009,078 shares of the company's stock valued at $3,186,651,000 after buying an additional 5,269,140 shares during the period. Goldman Sachs Group Inc. boosted its position in Colgate-Palmolive by 34.5% in the 1st quarter. Goldman Sachs Group Inc. now owns 7,980,387 shares of the company's stock valued at $747,762,000 after buying an additional 2,045,191 shares during the period. Deutsche Bank AG boosted its holdings in Colgate-Palmolive by 3.7% in the first quarter. Deutsche Bank AG now owns 7,176,598 shares of the company's stock valued at $672,447,000 after purchasing an additional 253,604 shares during the period. Finally, Ameriprise Financial Inc. boosted its holdings in Colgate-Palmolive by 2.6% in the first quarter. Ameriprise Financial Inc. now owns 6,976,654 shares of the company's stock valued at $653,761,000 after purchasing an additional 177,833 shares during the period. Hedge funds and other institutional investors own 80.41% of the company's stock.

Colgate-Palmolive Stock Up 0.6%

Shares of NYSE:CL opened at $78.13 on Friday. The company has a market capitalization of $63.15 billion, a PE ratio of 21.95, a P/E/G ratio of 4.55 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 twelve month low of $76.68 and a twelve month high of $101.89. The firm has a 50 day simple moving average of $82.07 and a 200-day simple moving average of $87.49.

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

Colgate-Palmolive Dividend Announcement

The company 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 2.7%. The ex-dividend date of this dividend is Friday, October 17th. Colgate-Palmolive's payout ratio is presently 58.43%.

Analysts Set New Price Targets

CL has been the subject of a number of recent research reports. Bank of America decreased their target price on Colgate-Palmolive from $98.00 to $88.00 and set a "buy" rating for the company in a report on Wednesday, October 8th. JPMorgan Chase & Co. decreased their price objective on Colgate-Palmolive from $95.00 to $88.00 and set an "overweight" rating for the company in a research note on Friday, October 10th. Barclays decreased their price target on shares of Colgate-Palmolive from $87.00 to $82.00 and set an "equal weight" rating for the company in a research note on Wednesday, October 1st. The Goldman Sachs Group decreased their price target on shares of Colgate-Palmolive from $106.00 to $91.00 and set a "buy" rating for the company in a research note on Thursday, October 2nd. Finally, Morgan Stanley decreased their price target on shares of Colgate-Palmolive from $104.00 to $96.00 and set an "overweight" rating for the company in a research note on Monday, August 4th. Eight analysts have rated the stock with a Buy rating, five have given a Hold rating and one has given a Sell rating to the company. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $92.21.

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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