Wright Investors Service Inc. Sells 9,118 Shares of Colgate-Palmolive Company $CL

Key Points

• Wright Investors Service Inc. has reduced its stake in Colgate-Palmolive by 40.9%, now holding 13,198 shares valued at approximately $1.2 million.
• Colgate-Palmolive reported a quarterly EPS of $0.92, surpassing expectations, with revenue reaching $5.11 billion, a 1% increase year-over-year.
• The company announced a quarterly dividend of $0.52 per share, indicating a 2.6% dividend yield, with an ex-dividend date set for October 17.

Wright Investors Service Inc. cut its holdings in Colgate-Palmolive Company (NYSE:CL - Free Report) by 40.9% during the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 13,198 shares of the company's stock after selling 9,118 shares during the period. Wright Investors Service Inc.'s holdings in Colgate-Palmolive were worth $1,200,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in CL. Bridge Creek Capital Management LLC lifted its position in Colgate-Palmolive by 1.6% in the 2nd quarter. Bridge Creek Capital Management LLC now owns 58,260 shares of the company's stock worth $5,296,000 after buying an additional 895 shares during the last quarter. Thomasville National Bank raised its holdings in shares of Colgate-Palmolive by 2.2% during the second quarter. Thomasville National Bank now owns 7,730 shares of the company's stock valued at $703,000 after acquiring an additional 170 shares during the last quarter. Diversified Trust Co grew its position in Colgate-Palmolive by 6.8% in the second quarter. Diversified Trust Co now owns 85,111 shares of the company's stock worth $7,737,000 after acquiring an additional 5,415 shares during the period. IFM Investors Pty Ltd increased its position in shares of Colgate-Palmolive by 3.1% during the second quarter. IFM Investors Pty Ltd now owns 164,288 shares of the company's stock worth $14,934,000 after purchasing an additional 4,879 shares in the last quarter. Finally, Carderock Capital Management Inc. acquired a new stake in shares of Colgate-Palmolive during the 2nd quarter valued at approximately $73,000. Institutional investors and hedge funds own 80.41% of the company's stock.

Analyst Upgrades and Downgrades

A number of research analysts recently commented on CL shares. UBS Group lowered their price objective on shares of Colgate-Palmolive from $109.00 to $106.00 and set a "buy" rating on the stock in a research note on Thursday, July 17th. Morgan Stanley cut their target price 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. Wells Fargo & Company reduced their price target on shares of Colgate-Palmolive from $88.00 to $83.00 and set an "underweight" rating for the company in a research report on Monday, August 4th. Citigroup decreased 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 note on Monday, August 4th. Finally, JPMorgan Chase & Co. dropped their price target on shares of 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 equities research analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, Colgate-Palmolive has a consensus rating of "Moderate Buy" and an average price target of $98.00.

Colgate-Palmolive Trading Down 0.4%

Shares of CL stock traded down $0.30 during trading hours on Friday, hitting $81.23. 14,727,470 shares of the company's stock traded hands, compared to its average volume of 5,043,141. The company has a quick ratio of 0.57, a current ratio of 0.89 and a debt-to-equity ratio of 6.79. The stock's 50 day simple moving average is $84.97 and its 200 day simple moving average is $89.18. Colgate-Palmolive Company has a 12 month low of $81.01 and a 12 month high of $104.49. The stock has a market cap of $65.65 billion, a PE ratio of 22.82, a price-to-earnings-growth ratio of 4.22 and a beta of 0.35.

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 firm had revenue of $5.11 billion for the quarter, compared to analysts' expectations of $5.03 billion. Colgate-Palmolive had a net margin of 14.55% and a return on equity of 377.63%. The business's quarterly revenue was up 1.0% on a year-over-year basis. During the same quarter last year, the company posted $0.91 EPS. On average, sell-side analysts anticipate that Colgate-Palmolive Company will post 3.75 EPS for the current year.

Colgate-Palmolive Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, November 14th. Stockholders of record on Friday, October 17th will be given a dividend of $0.52 per share. The ex-dividend date is Friday, October 17th. This represents a $2.08 dividend on an annualized basis and a dividend yield of 2.6%. Colgate-Palmolive's dividend payout ratio (DPR) is 58.43%.

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.