Public Sector Pension Investment Board Sells 361,713 Shares of Colgate-Palmolive Company (NYSE:CL)

Key Points

• Public Sector Pension Investment Board reduced its holdings in Colgate-Palmolive by 30.8% in the first quarter, now owning approximately 0.10% of the company, valued at $76 million.
• Colgate-Palmolive's quarterly earnings exceeded estimates with an EPS of $0.92, and reported revenue of $5.11 billion, which shows a 1.0% increase from the previous year.
• The company announced a quarterly dividend of $0.52 per share, translating to an annualized dividend yield of 2.5%.

Public Sector Pension Investment Board reduced its holdings in shares of Colgate-Palmolive Company (NYSE:CL - Free Report) by 30.8% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 812,974 shares of the company's stock after selling 361,713 shares during the period. Public Sector Pension Investment Board owned 0.10% of Colgate-Palmolive worth $76,176,000 at the end of the most recent reporting period.

A number of other large investors also recently bought and sold shares of the business. Vanguard Group Inc. lifted its position in Colgate-Palmolive by 0.6% during the 1st quarter. Vanguard Group Inc. now owns 81,758,257 shares of the company's stock valued at $7,660,749,000 after acquiring an additional 455,198 shares during the period. Northern Trust Corp boosted its stake in Colgate-Palmolive by 11.7% in the 4th quarter. Northern Trust Corp now owns 9,497,819 shares of the company's stock worth $863,447,000 after purchasing an additional 993,328 shares in the last quarter. Goldman Sachs Group Inc. boosted its stake in Colgate-Palmolive by 34.5% in the 1st quarter. Goldman Sachs Group Inc. now owns 7,980,387 shares of the company's stock worth $747,762,000 after purchasing an additional 2,045,191 shares in the last quarter. Deutsche Bank AG boosted its stake in Colgate-Palmolive by 3.7% in the 1st quarter. Deutsche Bank AG now owns 7,176,598 shares of the company's stock worth $672,447,000 after purchasing an additional 253,604 shares in the last quarter. Finally, Invesco Ltd. boosted its stake in Colgate-Palmolive by 5.0% in the 1st quarter. Invesco Ltd. now owns 6,867,209 shares of the company's stock worth $643,458,000 after purchasing an additional 329,291 shares in the last quarter. 80.41% of the stock is owned by hedge funds and other institutional investors.

Colgate-Palmolive Stock Performance

CL stock traded down $1.61 during trading on Thursday, reaching $84.73. The stock had a trading volume of 3,497,118 shares, compared to its average volume of 5,244,789. Colgate-Palmolive Company has a 52 week low of $82.40 and a 52 week high of $109.30. The stock's 50 day moving average is $88.41 and its two-hundred day moving average is $90.07. 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 firm has a market cap of $68.48 billion, a PE ratio of 23.80, a PEG ratio of 4.42 and a beta of 0.35.

Colgate-Palmolive (NYSE:CL - Get Free Report) last posted its earnings results on Friday, August 1st. The company reported $0.92 earnings per share for the quarter, beating analysts' consensus estimates of $0.89 by $0.03. Colgate-Palmolive had a return on equity of 377.63% and a net margin of 14.55%. The company had revenue of $5.11 billion for the quarter, compared to the consensus estimate of $5.03 billion. During the same quarter in the prior year, the company earned $0.91 earnings per share. Colgate-Palmolive's revenue was up 1.0% on a year-over-year basis. As a group, equities analysts anticipate that Colgate-Palmolive Company will post 3.75 earnings per share for the current year.

Colgate-Palmolive Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, August 15th. Shareholders of record on Friday, July 18th will be issued a dividend of $0.52 per share. This represents a $2.08 annualized dividend and a yield of 2.5%. The ex-dividend date of this dividend is Friday, July 18th. Colgate-Palmolive's payout ratio is currently 58.43%.

Analysts Set New Price Targets

A number of equities analysts recently issued reports on CL shares. Morgan Stanley dropped 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 note on Monday, August 4th. JPMorgan Chase & Co. lowered their price objective on Colgate-Palmolive from $99.00 to $95.00 and set an "overweight" rating on the stock in a research report on Monday, August 4th. UBS Group lowered their price objective on 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 reduced their price objective on Colgate-Palmolive from $88.00 to $83.00 and set an "underweight" rating for the company in a report on Monday, August 4th. Finally, Barclays lifted their price objective on Colgate-Palmolive from $86.00 to $87.00 and gave the stock an "equal weight" rating in a report on Tuesday, July 15th. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and seven have issued a buy rating to the company's stock. According to MarketBeat.com, the stock presently has a consensus rating of "Hold" and a consensus target price of $98.92.

Colgate-Palmolive Company 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.