Colgate-Palmolive Company $CL Shares Sold by Evelyn Partners Investment Management Services Ltd

Key Points

• Evelyn Partners Investment Management Services Ltd cut its Colgate-Palmolive stake by 88.5% in the first quarter, selling 79,794 shares and retaining 10,418 shares valued at approximately $888,000.
• Colgate-Palmolive reported quarterly earnings of $0.97 per share, exceeding estimates by $0.03, while revenue rose 8.4% year over year to $5.32 billion.
• The company declared a quarterly dividend of $0.53 per share, equivalent to an annualized $2.12 dividend and a 2.3% yield. Analysts maintain a “Moderate Buy” consensus with an average price target of $97.82.

Evelyn Partners Investment Management Services Ltd reduced its position in Colgate-Palmolive Company (NYSE:CL - Free Report) by 88.5% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 10,418 shares of the company's stock after selling 79,794 shares during the period. Evelyn Partners Investment Management Services Ltd's holdings in Colgate-Palmolive were worth $888,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also recently added to or reduced their stakes in CL. Norges Bank acquired a new position in shares of Colgate-Palmolive in the fourth quarter worth about $861,670,000. Bank of New York Mellon Corp grew its position in shares of Colgate-Palmolive by 172.5% during the 1st quarter. Bank of New York Mellon Corp now owns 12,521,545 shares of the company's stock valued at $1,067,211,000 after acquiring an additional 7,927,238 shares during the period. Northwestern Mutual Wealth Management Co. increased its stake in shares of Colgate-Palmolive by 8,040.1% in the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 4,655,987 shares of the company's stock valued at $380,666,000 after purchasing an additional 4,598,789 shares in the last quarter. Balyasny Asset Management L.P. purchased a new position in shares of Colgate-Palmolive in the 4th quarter valued at about $236,682,000. Finally, Deutsche Bank AG grew its holdings in Colgate-Palmolive by 33.9% in the fourth quarter. Deutsche Bank AG now owns 10,845,857 shares of the company's stock valued at $857,040,000 after purchasing an additional 2,746,920 shares during the period. 80.41% of the stock is owned by hedge funds and other institutional investors.

Colgate-Palmolive Trading Up 1.4%

Shares of CL opened at $92.00 on Tuesday. Colgate-Palmolive Company has a 52-week low of $74.54 and a 52-week high of $99.33. The stock has a market cap of $73.62 billion, a PE ratio of 35.80, a price-to-earnings-growth ratio of 4.78 and a beta of 0.33. The firm's fifty day moving average is $90.82 and its two-hundred day moving average is $89.15. 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 (NYSE:CL - Get Free Report) last issued its earnings results on Friday, May 1st. The company reported $0.97 EPS for the quarter, beating analysts' consensus estimates of $0.94 by $0.03. The business had revenue of $5.32 billion during the quarter, compared to analysts' expectations of $5.22 billion. Colgate-Palmolive had a net margin of 10.04% and a return on equity of 386.76%. The company's quarterly revenue was up 8.4% compared to the same quarter last year. During the same period in the prior year, the business earned $0.91 earnings per share. Research analysts forecast that Colgate-Palmolive Company will post 3.81 earnings per share for the current fiscal year.

Colgate-Palmolive Dividend Announcement

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

Analysts Set New Price Targets

CL has been the topic of a number of research analyst reports. Rothschild & Co Redburn set a $100.00 price target on shares of Colgate-Palmolive and gave the company a "buy" rating in a research note on Tuesday, April 21st. Wells Fargo & Company upped their price objective on shares of Colgate-Palmolive from $92.00 to $95.00 and gave the stock an "equal weight" rating in a research report on Wednesday, July 8th. Morgan Stanley reiterated an "overweight" rating on shares of Colgate-Palmolive in a research report on Monday, May 4th. UBS Group boosted their target price on shares of Colgate-Palmolive from $100.00 to $106.00 and gave the stock a "buy" rating in a research note on Thursday, July 16th. Finally, Barclays raised their price target on shares of Colgate-Palmolive from $80.00 to $87.00 and gave the company an "equal weight" rating in a research note on Tuesday, July 21st. Twelve investment analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the company. Based on data from MarketBeat, Colgate-Palmolive has a consensus rating of "Moderate Buy" and an average price target of $97.82.

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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