Conning Inc. Sells 4,538 Shares of Colgate-Palmolive Company $CL

Key Points

• Conning Inc. has sold 4,538 shares of Colgate-Palmolive, reducing its stake by 1.2%, leaving the fund with 376,023 shares valued at approximately $34.18 million.
• Colgate-Palmolive announced a quarterly dividend of $0.52 per share, payable on November 14th, with an annualized dividend yield of 2.7%.
• The company's latest quarterly earnings report revealed an earnings per share of $0.92, surpassing analysts' expectations, and revenue of $5.11 billion, a year-over-year increase of 1.0%.

Conning Inc. trimmed its stake in Colgate-Palmolive Company (NYSE:CL - Free Report) by 1.2% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 376,023 shares of the company's stock after selling 4,538 shares during the period. Conning Inc.'s holdings in Colgate-Palmolive were worth $34,180,000 as of its most recent SEC filing.

Other institutional investors also recently modified their holdings of the company. Personal CFO Solutions LLC bought a new position in Colgate-Palmolive during the first quarter valued at approximately $285,000. Vision Capital Management Inc. purchased a new stake in shares of Colgate-Palmolive during the first quarter valued at approximately $322,000. Autumn Glory Partners LLC boosted its stake in shares of Colgate-Palmolive by 67.4% during the first quarter. Autumn Glory Partners LLC now owns 8,905 shares of the company's stock valued at $851,000 after purchasing an additional 3,586 shares during the period. Financial Gravity Asset Management Inc. purchased a new stake in shares of Colgate-Palmolive during the first quarter valued at approximately $2,166,000. Finally, Penserra Capital Management LLC boosted its stake in shares of Colgate-Palmolive by 398.6% during the first quarter. Penserra Capital Management LLC now owns 10,651 shares of the company's stock valued at $997,000 after purchasing an additional 8,515 shares during the period. 80.41% of the stock is currently owned by institutional investors.

Colgate-Palmolive Stock Performance

Shares of Colgate-Palmolive stock opened at $77.99 on Friday. 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 capitalization of $63.03 billion, a P/E ratio of 21.91, a P/E/G ratio of 4.28 and a beta of 0.34. The business has a fifty day simple moving average of $82.56 and a two-hundred day simple moving average of $87.91. Colgate-Palmolive Company has a 12 month low of $77.09 and a 12 month high of $102.61.

Colgate-Palmolive (NYSE:CL - Get Free Report) last announced its quarterly earnings data on Friday, August 1st. The company reported $0.92 EPS for the quarter, beating the consensus estimate of $0.89 by $0.03. The business had revenue of $5.11 billion during the quarter, compared to analyst estimates of $5.03 billion. Colgate-Palmolive had a return on equity of 377.63% and a net margin of 14.55%.The company's revenue for the quarter was up 1.0% on a year-over-year basis. During the same quarter last year, the firm posted $0.91 earnings per share. On average, equities analysts forecast that Colgate-Palmolive Company will post 3.75 earnings per share for the current fiscal year.

Colgate-Palmolive Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, November 14th. Stockholders of record on Friday, October 17th will be issued a dividend of $0.52 per share. The ex-dividend date is Friday, October 17th. This represents a $2.08 annualized dividend and a dividend yield of 2.7%. Colgate-Palmolive's dividend payout ratio (DPR) is presently 58.43%.

Analyst Upgrades and Downgrades

A number of analysts recently commented on CL shares. Bank of America dropped their price target on Colgate-Palmolive from $98.00 to $88.00 and set a "buy" rating for the company in a research note on Wednesday. Citigroup dropped their price target on Colgate-Palmolive from $108.00 to $105.00 and set a "buy" rating for the company in a research note on Monday, August 4th. Deutsche Bank Aktiengesellschaft set a $86.00 price target on Colgate-Palmolive in a research note on Friday. The Goldman Sachs Group dropped their price target on Colgate-Palmolive from $106.00 to $91.00 and set a "buy" rating for the company in a research note on Thursday, October 2nd. Finally, 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. Eight research analysts have rated the stock with a Buy rating, five have issued a Hold rating and one has given a Sell rating to the company's stock. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $92.21.

About Colgate-Palmolive

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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