Colgate-Palmolive Company (NYSE:CL) Stock Position Reduced by Swiss National Bank

Key Points

• Swiss National Bank has reduced its stake in Colgate-Palmolive by 0.2%, owning about 0.27% of the company valued at $205 million after selling 3,700 shares.
• Colgate-Palmolive recently reported a Q2 EPS of $0.92, exceeding estimates, and announced a quarterly dividend of $0.52, yielding 2.5%.
• Wall Street analysts have downgraded target prices for Colgate-Palmolive shares, with a consensus rating of "Hold" and an average target price of $98.92.

Swiss National Bank reduced its stake in Colgate-Palmolive Company (NYSE:CL - Free Report) by 0.2% during the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 2,189,100 shares of the company's stock after selling 3,700 shares during the quarter. Swiss National Bank owned about 0.27% of Colgate-Palmolive worth $205,119,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also made changes to their positions in the stock. Westend Capital Management LLC lifted its position in Colgate-Palmolive by 111.1% during the first quarter. Westend Capital Management LLC now owns 266 shares of the company's stock worth $25,000 after buying an additional 140 shares during the period. Cornerstone Planning Group LLC increased its stake in Colgate-Palmolive by 1,913.3% during the first quarter. Cornerstone Planning Group LLC now owns 302 shares of the company's stock worth $28,000 after acquiring an additional 287 shares during the last quarter. Vermillion Wealth Management Inc. acquired a new stake in Colgate-Palmolive during the fourth quarter worth about $31,000. Accredited Wealth Management LLC acquired a new stake in Colgate-Palmolive during the fourth quarter worth about $34,000. Finally, Y.D. More Investments Ltd acquired a new stake in Colgate-Palmolive during the first quarter worth about $37,000. 80.41% of the stock is currently owned by hedge funds and other institutional investors.

Colgate-Palmolive Stock Up 1.7%

NYSE CL traded up $1.41 during mid-day trading on Wednesday, reaching $86.38. 1,580,350 shares of the company's stock traded hands, compared to its average volume of 5,243,336. Colgate-Palmolive Company has a 1-year low of $82.40 and a 1-year high of $109.30. The company has a fifty day simple moving average of $88.49 and a 200-day simple moving average of $90.10. 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 company has a market cap of $69.81 billion, a price-to-earnings ratio of 24.28, a P/E/G ratio of 4.40 and a beta of 0.35.

Colgate-Palmolive (NYSE:CL - Get Free Report) last issued its quarterly earnings data 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 firm had revenue of $5.11 billion during the quarter, compared to analyst estimates of $5.03 billion. During the same quarter last year, the firm earned $0.91 EPS. Colgate-Palmolive's quarterly revenue was up 1.0% on a year-over-year basis. As a group, equities research analysts expect that Colgate-Palmolive Company will post 3.75 EPS for the current year.

Colgate-Palmolive Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, August 15th. Shareholders of record on Friday, July 18th will be paid a dividend of $0.52 per share. This represents a $2.08 dividend on an annualized basis and a yield of 2.4%. The ex-dividend date is Friday, July 18th. Colgate-Palmolive's dividend payout ratio (DPR) is 58.43%.

Analysts Set New Price Targets

CL has been the subject of several research analyst reports. UBS Group dropped their price target on Colgate-Palmolive from $109.00 to $106.00 and set a "buy" rating for the company in a research note on Thursday, July 17th. Barclays upped their price target on Colgate-Palmolive from $86.00 to $87.00 and gave the stock an "equal weight" rating in a research note on Tuesday, July 15th. Wall Street Zen lowered Colgate-Palmolive from a "buy" rating to a "hold" rating in a research note on Wednesday, May 7th. Morgan Stanley dropped their price target on Colgate-Palmolive from $104.00 to $96.00 and set an "overweight" rating for the company in a research note on Monday, August 4th. Finally, Wells Fargo & Company lowered their target price on Colgate-Palmolive from $88.00 to $83.00 and set an "underweight" rating for the company in a research note on Monday, August 4th. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and seven have issued a buy rating to the company. According to MarketBeat, 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.