Colgate-Palmolive Company $CL Shares Sold by Commerzbank Aktiengesellschaft FI

Key Points

• Commerzbank Aktiengesellschaft FI cut its Colgate-Palmolive stake by 29.9% in the first quarter, selling 14,490 shares and leaving it with 33,930 shares worth about $2.89 million.
• Colgate-Palmolive reported better-than-expected quarterly results, with EPS of $0.97 versus $0.94 expected and revenue of $5.32 billion versus $5.22 billion anticipated. Revenue rose 8.4% year over year.
• The company also announced a quarterly dividend of $0.53 per share, implying an annualized yield of 2.3%. Analysts currently rate the stock a consensus Moderate Buy with an average price target of $97.82.

Commerzbank Aktiengesellschaft FI lessened its holdings in Colgate-Palmolive Company (NYSE:CL - Free Report) by 29.9% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 33,930 shares of the company's stock after selling 14,490 shares during the period. Commerzbank Aktiengesellschaft FI's holdings in Colgate-Palmolive were worth $2,892,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also recently modified their holdings of CL. HighPoint Advisor Group LLC boosted its stake in Colgate-Palmolive by 0.7% during the fourth quarter. HighPoint Advisor Group LLC now owns 15,877 shares of the company's stock worth $1,255,000 after buying an additional 109 shares during the period. Clear Harbor Asset Management LLC raised its stake in shares of Colgate-Palmolive by 2.6% in the 4th quarter. Clear Harbor Asset Management LLC now owns 4,503 shares of the company's stock valued at $356,000 after acquiring an additional 113 shares during the period. Moneta Group Investment Advisors LLC raised its stake in shares of Colgate-Palmolive by 0.7% in the 4th quarter. Moneta Group Investment Advisors LLC now owns 15,506 shares of the company's stock valued at $1,225,000 after acquiring an additional 114 shares during the period. Sunpointe LLC lifted its holdings in shares of Colgate-Palmolive by 4.0% in the 4th quarter. Sunpointe LLC now owns 3,056 shares of the company's stock worth $241,000 after acquiring an additional 117 shares during the last quarter. Finally, ANB Bank boosted its position in shares of Colgate-Palmolive by 1.7% during the 1st quarter. ANB Bank now owns 7,200 shares of the company's stock worth $614,000 after purchasing an additional 120 shares during the period. 80.41% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several analysts recently weighed in on the stock. Sanford C. Bernstein started coverage on shares of Colgate-Palmolive in a report on Thursday, June 11th. They issued a "market perform" rating and a $96.00 target price for the company. Morgan Stanley restated an "overweight" rating on shares of Colgate-Palmolive in a research note on Monday, May 4th. Barclays raised their price target on Colgate-Palmolive from $80.00 to $87.00 and gave the stock an "equal weight" rating in a research report on Tuesday. UBS Group lifted their price objective on Colgate-Palmolive from $100.00 to $106.00 and gave the company a "buy" rating in a research note on Thursday, July 16th. Finally, Rothschild & Co Redburn set a $100.00 target price on Colgate-Palmolive and gave the stock a "buy" rating in a research note on Tuesday, April 21st. Twelve analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the stock. According to data from MarketBeat.com, Colgate-Palmolive currently has a consensus rating of "Moderate Buy" and an average price target of $97.82.

Colgate-Palmolive Stock Performance

NYSE:CL opened at $90.48 on Wednesday. The company has a fifty day simple moving average of $90.62 and a two-hundred day simple moving average of $88.77. The company has a market cap of $72.40 billion, a price-to-earnings ratio of 35.21, a price-to-earnings-growth ratio of 4.84 and a beta of 0.33. The company has a quick ratio of 0.67, a current ratio of 1.02 and a debt-to-equity ratio of 16.33. Colgate-Palmolive Company has a 52 week low of $74.54 and a 52 week high of $99.33.

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

Colgate-Palmolive Announces Dividend

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

Colgate-Palmolive 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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