Colgate-Palmolive Company $CL Shares Sold by Illinois Municipal Retirement Fund

Key Points

• Illinois Municipal Retirement Fund cut its Colgate-Palmolive stake by 15% in the first quarter, selling 46,835 shares and leaving it with 265,983 shares worth about $22.7 million.
• Colgate-Palmolive reported strong first-quarter results, with EPS of $0.97 beating estimates and revenue rising 8.4% year over year to $5.32 billion.
• The company announced a quarterly dividend of $0.53 per share, or $2.12 annually, implying a 2.3% yield; analysts currently rate the stock a Moderate Buy with a consensus target of $96.59.

Illinois Municipal Retirement Fund reduced its holdings in Colgate-Palmolive Company (NYSE:CL - Free Report) by 15.0% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 265,983 shares of the company's stock after selling 46,835 shares during the quarter. Illinois Municipal Retirement Fund's holdings in Colgate-Palmolive were worth $22,670,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. HighPoint Advisor Group LLC increased its holdings in shares of Colgate-Palmolive by 0.7% in the fourth quarter. HighPoint Advisor Group LLC now owns 15,877 shares of the company's stock valued at $1,255,000 after buying an additional 109 shares in the last quarter. Clear Harbor Asset Management LLC boosted its stake in shares of Colgate-Palmolive by 2.6% during the 4th quarter. Clear Harbor Asset Management LLC now owns 4,503 shares of the company's stock worth $356,000 after acquiring an additional 113 shares in the last quarter. Moneta Group Investment Advisors LLC boosted its stake in shares of Colgate-Palmolive by 0.7% during the 4th quarter. Moneta Group Investment Advisors LLC now owns 15,506 shares of the company's stock worth $1,225,000 after acquiring an additional 114 shares in the last quarter. Sunpointe LLC grew 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, TD Capital Management LLC raised its position in shares of Colgate-Palmolive by 61.4% during the fourth quarter. TD Capital Management LLC now owns 326 shares of the company's stock worth $26,000 after purchasing an additional 124 shares during the period. 80.41% of the stock is owned by institutional investors and hedge funds.

Colgate-Palmolive Stock Performance

Shares of CL opened at $91.41 on Thursday. The company has a market capitalization of $73.15 billion, a PE ratio of 35.57, a PEG ratio of 4.80 and a beta of 0.33. The company has a debt-to-equity ratio of 16.33, a quick ratio of 0.67 and a current ratio of 1.02. The company's 50 day moving average price is $90.22 and its 200 day moving average price is $88.41. 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 issued its earnings results on Friday, May 1st. The company reported $0.97 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.94 by $0.03. Colgate-Palmolive had a net margin of 10.04% and a return on equity of 386.76%. The company had revenue of $5.32 billion during the quarter, compared to analyst estimates of $5.22 billion. During the same quarter last year, the business posted $0.91 EPS. The company's revenue for the quarter was up 8.4% on a year-over-year basis. Research analysts expect that Colgate-Palmolive Company will post 3.81 EPS for the current fiscal year.

Colgate-Palmolive Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, August 14th. Investors of record on Monday, July 20th will be given a dividend of $0.53 per share. 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 presently 82.49%.

Analyst Ratings Changes

A number of equities analysts recently weighed in on the company. Wells Fargo & Company lifted their price target on Colgate-Palmolive from $92.00 to $95.00 and gave the stock an "equal weight" rating in a research note on Wednesday, July 8th. Sanford C. Bernstein began coverage on shares of Colgate-Palmolive in a research note on Thursday, June 11th. They set a "market perform" rating and a $96.00 price objective for the company. Rothschild & Co Redburn set a $100.00 target price on shares of Colgate-Palmolive and gave the stock a "buy" rating in a report on Tuesday, April 21st. Royal Bank Of Canada restated an "outperform" rating and set a $102.00 price target on shares of Colgate-Palmolive in a report on Monday, May 4th. Finally, Citigroup upped their price target on shares of Colgate-Palmolive from $105.00 to $110.00 and gave the company a "buy" rating in a research report on Tuesday. Twelve analysts have rated the stock with a Buy rating and seven have given a Hold rating to the company. According to data from MarketBeat.com, Colgate-Palmolive presently has an average rating of "Moderate Buy" and a consensus target price of $96.59.

About Colgate-Palmolive

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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