Colgate-Palmolive Company (NYSE:CL) Stock Holdings Trimmed by LGT Capital Partners LTD.

Key Points

• LGT Capital Partners LTD. reduced its Colgate-Palmolive holdings by 20.4%, now owning 996,900 shares worth approximately $93,410,000.
• Several large investors, including Northern Trust Corp and Deutsche Bank AG, have increased their stakes in Colgate-Palmolive in the fourth quarter, contributing to 80.41% of the company's stock being owned by institutional investors.
• Colgate-Palmolive recently announced a quarterly dividend of $0.52, with an annualized dividend of $2.08, representing a dividend yield of 2.5%.

LGT Capital Partners LTD. reduced its position in Colgate-Palmolive Company (NYSE:CL - Free Report) by 20.4% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 996,900 shares of the company's stock after selling 255,110 shares during the period. Colgate-Palmolive comprises about 4.1% of LGT Capital Partners LTD.'s holdings, making the stock its 7th largest position. LGT Capital Partners LTD. owned approximately 0.12% of Colgate-Palmolive worth $93,410,000 at the end of the most recent reporting period.

A number of other hedge funds have also made changes to their positions in CL. Northern Trust Corp lifted its position in shares of Colgate-Palmolive by 11.7% during the 4th quarter. Northern Trust Corp now owns 9,497,819 shares of the company's stock worth $863,447,000 after buying an additional 993,328 shares during the period. Deutsche Bank AG grew its stake in shares of Colgate-Palmolive by 35.6% during the fourth quarter. Deutsche Bank AG now owns 6,922,994 shares of the company's stock worth $629,369,000 after purchasing an additional 1,816,865 shares during the period. Ameriprise Financial Inc. grew its stake in shares of Colgate-Palmolive by 3.8% during the fourth quarter. Ameriprise Financial Inc. now owns 6,798,821 shares of the company's stock worth $617,359,000 after purchasing an additional 246,908 shares during the period. Invesco Ltd. grew its stake in Colgate-Palmolive by 2.7% in the fourth quarter. Invesco Ltd. now owns 6,537,918 shares of the company's stock valued at $594,362,000 after acquiring an additional 169,140 shares during the period. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its stake in Colgate-Palmolive by 11.2% in the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 6,299,989 shares of the company's stock valued at $572,732,000 after acquiring an additional 632,653 shares during the period. Institutional investors and hedge funds own 80.41% of the company's stock.

Colgate-Palmolive Stock Performance

Colgate-Palmolive stock traded up $0.01 during mid-day trading on Tuesday, reaching $83.37. 2,351,923 shares of the company's stock were exchanged, compared to its average volume of 5,260,280. The business's fifty day simple moving average is $89.40 and its 200 day simple moving average is $90.27. Colgate-Palmolive Company has a one year low of $82.40 and a one year high of $109.30. The firm has a market capitalization of $67.56 billion, a PE ratio of 23.44, a P/E/G ratio of 4.31 and a beta of 0.35. The company has a quick ratio of 0.28, a current ratio of 0.43 and a debt-to-equity ratio of 8.96.

Colgate-Palmolive (NYSE:CL - Get Free Report) last announced 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. Colgate-Palmolive had a return on equity of 377.63% and a net margin of 14.55%. The business had revenue of $5.11 billion during the quarter, compared to analyst estimates of $5.03 billion. Colgate-Palmolive's revenue was up 1.0% compared to the same quarter last year. During the same period in the prior year, the company earned $0.91 earnings per share. On average, sell-side analysts expect 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. Stockholders of record on Friday, July 18th will be given a $0.52 dividend. The ex-dividend date is Friday, July 18th. This represents a $2.08 annualized dividend and a dividend yield of 2.5%. Colgate-Palmolive's payout ratio is 58.43%.

Analyst Ratings Changes

A number of brokerages have recently commented on CL. Wall Street Zen lowered Colgate-Palmolive from a "buy" rating to a "hold" rating in a report on Wednesday, May 7th. Wells Fargo & Company decreased their target price on Colgate-Palmolive from $88.00 to $83.00 and set an "underweight" rating on the stock in a research report on Monday. Morgan Stanley decreased their target price on Colgate-Palmolive from $104.00 to $96.00 and set an "overweight" rating on the stock in a research report on Monday. Citigroup reduced their target price on Colgate-Palmolive from $108.00 to $105.00 and set a "buy" rating on the stock in a report on Monday. Finally, UBS Group reduced their target price on Colgate-Palmolive from $109.00 to $106.00 and set a "buy" rating on the stock in a report on Thursday, July 17th. 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. According to data from MarketBeat.com, Colgate-Palmolive currently has an average 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.