Erste Asset Management GmbH Sells 44,202 Shares of Colgate-Palmolive Company $CL

Key Points

• Erste Asset Management GmbH reduced its holdings in Colgate-Palmolive by 28.7% during the 1st quarter, owning 109,572 shares valued at about $10.19 million after selling 44,202 shares.
• Colgate-Palmolive recently declared a quarterly dividend of $0.52 per share, resulting in an annualized dividend yield of 2.4%.
• Analysts have recognized a shift in sentiment, with several firms downgrading the stock's ratings and adjusting price targets, leading to a consensus rating of "Moderate Buy" with an average target price of $98.92.

Erste Asset Management GmbH lowered its stake in Colgate-Palmolive Company (NYSE:CL - Free Report) by 28.7% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 109,572 shares of the company's stock after selling 44,202 shares during the period. Erste Asset Management GmbH's holdings in Colgate-Palmolive were worth $10,192,000 as of its most recent SEC filing.

Other large investors have also recently modified their holdings of the company. Westend Capital Management LLC increased its holdings in shares of Colgate-Palmolive by 111.1% in the first 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 increased its holdings in shares of Colgate-Palmolive by 1,913.3% in the first 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. Vermillion Wealth Management Inc. purchased a new position in shares of Colgate-Palmolive in the fourth quarter worth about $31,000. Accredited Wealth Management LLC purchased a new position in shares of Colgate-Palmolive in the fourth quarter worth about $34,000. Finally, Bernard Wealth Management Corp. purchased a new position in shares of Colgate-Palmolive in the fourth quarter worth about $36,000. Hedge funds and other institutional investors own 80.41% of the company's stock.

Colgate-Palmolive Stock Down 0.6%

Colgate-Palmolive stock traded down $0.5010 during trading hours on Friday, hitting $85.7790. 4,087,413 shares of the stock traded hands, compared to its average volume of 5,056,872. The firm's 50-day moving average price is $87.60 and its two-hundred day moving average price is $89.93. 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 company has a market cap of $69.33 billion, a PE ratio of 24.10, a PEG ratio of 4.47 and a beta of 0.35. Colgate-Palmolive Company has a one year low of $82.40 and a one year high of $109.30.

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

Colgate-Palmolive Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, August 15th. Shareholders of record on Friday, July 18th were given a dividend of $0.52 per share. This represents a $2.08 annualized dividend and a yield of 2.4%. The ex-dividend date of this dividend was Friday, July 18th. Colgate-Palmolive's payout ratio is presently 58.43%.

Analyst Upgrades and Downgrades

Several research firms recently issued reports on CL. Morgan Stanley cut their target price on Colgate-Palmolive from $104.00 to $96.00 and set an "overweight" rating on the stock in a research note on Monday, August 4th. Wall Street Zen cut Colgate-Palmolive from a "buy" rating to a "hold" rating in a research note on Wednesday, May 7th. Citigroup cut their target price on Colgate-Palmolive from $108.00 to $105.00 and set a "buy" rating on the stock in a research note on Monday, August 4th. UBS Group cut their target price on Colgate-Palmolive from $109.00 to $106.00 and set a "buy" rating on the stock in a research note on Thursday, July 17th. Finally, JPMorgan Chase & Co. cut their target price on Colgate-Palmolive from $99.00 to $95.00 and set an "overweight" rating on the stock in a research note on Monday, August 4th. Seven investment analysts have rated the stock with a Buy rating, four have issued a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average target price of $98.92.

Colgate-Palmolive 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.