Cypress Capital Group Decreases Stock Holdings in Colgate-Palmolive Company (NYSE:CL)

Key Points

• Cypress Capital Group has reduced its stake in Colgate-Palmolive by 42.4%, selling 12,561 shares, and now holds 17,086 shares valued at approximately $1.6 million.
• The company reported a net margin of 14.55% and earnings per share of $0.92, surpassing analysts' expectations of $0.89.
• Colgate-Palmolive announced a quarterly dividend of $0.52 per share, with a dividend yield of 2.5%, scheduled for payment on August 15th.

Cypress Capital Group cut its holdings in shares of Colgate-Palmolive Company (NYSE:CL - Free Report) by 42.4% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 17,086 shares of the company's stock after selling 12,561 shares during the period. Cypress Capital Group's holdings in Colgate-Palmolive were worth $1,601,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Nuveen LLC acquired a new position in shares of Colgate-Palmolive during the 1st quarter worth about $217,593,000. Goldman Sachs Group Inc. raised its position in shares of Colgate-Palmolive by 34.5% during 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 during the last quarter. Deutsche Bank AG raised its position in shares of Colgate-Palmolive by 35.6% during the 4th 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 last quarter. Diamond Hill Capital Management Inc. grew its stake in Colgate-Palmolive by 45.0% during the 1st quarter. Diamond Hill Capital Management Inc. now owns 5,562,968 shares of the company's stock valued at $521,250,000 after acquiring an additional 1,727,105 shares in the last quarter. Finally, Castlekeep Investment Advisors LLC purchased a new stake in Colgate-Palmolive during the 4th quarter valued at about $111,738,000. Hedge funds and other institutional investors own 80.41% of the company's stock.

Colgate-Palmolive Stock Performance

Colgate-Palmolive stock traded up $0.34 during midday trading on Friday, hitting $84.99. 1,701,389 shares of the company's stock were exchanged, compared to its average volume of 5,222,175. Colgate-Palmolive Company has a 12-month low of $82.40 and a 12-month high of $109.30. The company has a debt-to-equity ratio of 6.79, a quick ratio of 0.57 and a current ratio of 0.89. The stock has a market cap of $68.69 billion, a price-to-earnings ratio of 23.85, a price-to-earnings-growth ratio of 4.49 and a beta of 0.35. The firm's 50 day simple moving average is $88.31 and its 200 day simple moving average is $90.03.

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 (EPS) for the quarter, topping the consensus estimate of $0.89 by $0.03. Colgate-Palmolive had a net margin of 14.55% and a return on equity of 377.63%. The company had revenue of $5.11 billion for the quarter, compared to the consensus estimate of $5.03 billion. During the same period last year, the firm posted $0.91 EPS. Colgate-Palmolive's revenue for the quarter was up 1.0% on a year-over-year basis. Equities research analysts predict that Colgate-Palmolive Company will post 3.75 EPS for the current year.

Colgate-Palmolive Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, August 15th. Stockholders 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 dividend yield of 2.4%. The ex-dividend date is Friday, July 18th. Colgate-Palmolive's payout ratio is 58.43%.

Analysts Set New Price Targets

Several analysts have recently weighed in on the stock. Citigroup dropped their price target on shares of Colgate-Palmolive from $108.00 to $105.00 and set a "buy" rating for the company in a research note on Monday, August 4th. Wells Fargo & Company dropped 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 note on Monday, August 4th. Barclays increased their price target on shares of Colgate-Palmolive from $86.00 to $87.00 and gave the company an "equal weight" rating in a research note on Tuesday, July 15th. JPMorgan Chase & Co. dropped their price target on shares of Colgate-Palmolive from $99.00 to $95.00 and set an "overweight" rating for the company in a research note on Monday, August 4th. Finally, Wall Street Zen lowered shares of Colgate-Palmolive from a "buy" rating to a "hold" rating in a report on Wednesday, May 7th. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and seven have assigned a buy rating to the company's stock. According to MarketBeat.com, the stock 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.