Colgate-Palmolive Company $CL Shares Sold by Ilmarinen Mutual Pension Insurance Co

Key Points

• Ilmarinen Mutual Pension Insurance Co decreased its holdings in Colgate-Palmolive by 47.1%, selling 96,000 shares during the first quarter, leaving it with 108,000 shares worth approximately $10.12 million.
• Colgate-Palmolive reported $5.11 billion in revenue for the quarter, exceeding the consensus estimate of $5.03 billion, alongside a net margin of 14.55% and earnings per share of $0.92.
• Institutional investors hold 80.41% of Colgate-Palmolive's stock, indicating a strong interest from major financial institutions.

Ilmarinen Mutual Pension Insurance Co lowered its holdings in Colgate-Palmolive Company (NYSE:CL - Free Report) by 47.1% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 108,000 shares of the company's stock after selling 96,000 shares during the quarter. Ilmarinen Mutual Pension Insurance Co's holdings in Colgate-Palmolive were worth $10,120,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in CL. Price T Rowe Associates Inc. MD increased its stake in shares of Colgate-Palmolive by 18.3% in the first quarter. Price T Rowe Associates Inc. MD now owns 34,009,078 shares of the company's stock worth $3,186,651,000 after acquiring an additional 5,269,140 shares during the period. Nuveen LLC acquired a new stake in Colgate-Palmolive during the first quarter valued at $217,593,000. Goldman Sachs Group Inc. grew its position in Colgate-Palmolive by 34.5% during the first quarter. Goldman Sachs Group Inc. now owns 7,980,387 shares of the company's stock valued at $747,762,000 after buying an additional 2,045,191 shares during the period. Diamond Hill Capital Management Inc. grew its position in Colgate-Palmolive by 45.0% during the first quarter. Diamond Hill Capital Management Inc. now owns 5,562,968 shares of the company's stock valued at $521,250,000 after buying an additional 1,727,105 shares during the period. Finally, GAMMA Investing LLC grew its position in Colgate-Palmolive by 10,601.7% during the first quarter. GAMMA Investing LLC now owns 1,105,379 shares of the company's stock valued at $103,574,000 after buying an additional 1,095,050 shares during the period. Institutional investors and hedge funds own 80.41% of the company's stock.

Colgate-Palmolive Price Performance

Shares of CL opened at $84.33 on Wednesday. Colgate-Palmolive Company has a fifty-two week low of $82.40 and a fifty-two week high of $107.76. The firm's 50 day moving average price is $86.45 and its 200 day moving average price is $89.69. The company has a market cap of $68.16 billion, a P/E ratio of 23.69, a PEG ratio of 4.38 and a beta of 0.35. The company has a quick ratio of 0.57, a current ratio of 0.89 and a debt-to-equity ratio of 6.79.

Colgate-Palmolive (NYSE:CL - Get Free Report) last announced its earnings results on Friday, August 1st. The company reported $0.92 earnings per share for the quarter, topping the consensus estimate 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 the consensus estimate of $5.03 billion. During the same period in the prior year, the firm earned $0.91 EPS. The firm's revenue for the quarter was up 1.0% on a year-over-year basis. On average, research analysts forecast that Colgate-Palmolive Company will post 3.75 earnings per share for the current fiscal year.

Colgate-Palmolive Dividend Announcement

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 $0.52 dividend. The ex-dividend date of this dividend was Friday, July 18th. This represents a $2.08 dividend on an annualized basis and a dividend yield of 2.5%. Colgate-Palmolive's dividend payout ratio is currently 58.43%.

Wall Street Analysts Forecast Growth

Several analysts recently commented on CL shares. UBS Group dropped their price target on shares of Colgate-Palmolive from $109.00 to $106.00 and set a "buy" rating on the stock in a research report on Thursday, July 17th. Wells Fargo & Company dropped their target price on shares of Colgate-Palmolive from $88.00 to $83.00 and set an "underweight" rating on the stock in a research report on Monday, August 4th. Barclays lifted their target price on shares of Colgate-Palmolive from $86.00 to $87.00 and gave the company an "equal weight" rating in a research report on Tuesday, July 15th. Citigroup lowered their price target on shares of Colgate-Palmolive from $108.00 to $105.00 and set a "buy" rating on the stock in a research report on Monday, August 4th. Finally, Morgan Stanley lowered their price target on shares of Colgate-Palmolive from $104.00 to $96.00 and set an "overweight" rating on the stock in a research report on Monday, August 4th. Seven equities research analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has issued a Sell rating to the company's stock. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average target price of $98.00.

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.

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