Annex Advisory Services LLC Sells 5,359 Shares of Colgate-Palmolive Company $CL

Key Points

• Annex Advisory Services LLC reduced its shareholding in Colgate-Palmolive Company by 4.9% during Q2, retaining 103,631 shares valued at approximately $9.42 million.
• Several institutional investors increased their positions in Colgate-Palmolive, with Arthur M. Cohen & Associates LLC raising its holdings by 37.7% during the same period.
• Colgate-Palmolive recently declared a quarterly dividend of $0.52 per share, representing an annualized dividend yield of 2.6%, with the next payment scheduled for November 14th.

Annex Advisory Services LLC reduced its stake in shares of Colgate-Palmolive Company (NYSE:CL - Free Report) by 4.9% in the second quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 103,631 shares of the company's stock after selling 5,359 shares during the period. Annex Advisory Services LLC's holdings in Colgate-Palmolive were worth $9,420,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of the stock. Westend Capital Management LLC boosted its holdings in Colgate-Palmolive by 111.1% in the 1st quarter. Westend Capital Management LLC now owns 266 shares of the company's stock worth $25,000 after buying an additional 140 shares during the period. Cornerstone Planning Group LLC boosted its holdings in Colgate-Palmolive by 1,913.3% in the 1st quarter. Cornerstone Planning Group LLC now owns 302 shares of the company's stock worth $28,000 after buying an additional 287 shares during the period. Saudi Central Bank bought a new position in Colgate-Palmolive in the 1st quarter worth approximately $29,000. Vermillion Wealth Management Inc. bought a new position in Colgate-Palmolive in the 4th quarter worth approximately $31,000. Finally, Ransom Advisory Ltd bought a new position in Colgate-Palmolive in the 1st quarter worth approximately $33,000. 80.41% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several research analysts have commented on CL shares. UBS Group cut their price target on shares of Colgate-Palmolive from $109.00 to $106.00 and set a "buy" rating for the company in a report on Thursday, July 17th. JPMorgan Chase & Co. cut their price target on shares of Colgate-Palmolive from $99.00 to $95.00 and set an "overweight" rating for the company in a report on Monday, August 4th. Wells Fargo & Company cut their price target on shares of Colgate-Palmolive from $88.00 to $83.00 and set an "underweight" rating for the company in a report on Monday, August 4th. Citigroup cut their price target on shares of Colgate-Palmolive from $108.00 to $105.00 and set a "buy" rating for the company in a report on Monday, August 4th. Finally, Morgan Stanley cut their price target on shares of Colgate-Palmolive from $104.00 to $96.00 and set an "overweight" rating for the company in a report on Monday, August 4th. Seven research analysts have rated the stock with a Buy rating, three have given a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus target price of $98.00.

Colgate-Palmolive Trading Up 0.9%

Shares of CL stock traded up $0.70 during mid-day trading on Tuesday, reaching $80.06. The stock had a trading volume of 3,080,891 shares, compared to its average volume of 5,220,543. The stock's 50-day moving average price is $84.78 and its two-hundred day moving average price is $89.05. Colgate-Palmolive Company has a 52-week low of $78.76 and a 52-week high of $104.49. The firm has a market capitalization of $64.70 billion, a PE ratio of 22.49, a price-to-earnings-growth ratio of 4.22 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.

Colgate-Palmolive (NYSE:CL - Get Free Report) last released its quarterly earnings data on Friday, August 1st. The company reported $0.92 earnings per share (EPS) 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 for the quarter, compared to analysts' expectations of $5.03 billion. During the same quarter in the previous year, the company earned $0.91 earnings per share. The company's revenue for the quarter was up 1.0% compared to the same quarter last year. Equities analysts expect that Colgate-Palmolive Company will post 3.75 earnings per share for the current fiscal year.

Colgate-Palmolive Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, November 14th. Shareholders of record on Friday, October 17th will be given a $0.52 dividend. The ex-dividend date is Friday, October 17th. This represents a $2.08 dividend on an annualized basis and a dividend yield of 2.6%. Colgate-Palmolive's payout ratio is presently 58.43%.

About Colgate-Palmolive

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.