Davis R M Inc. Lowers Holdings in Colgate-Palmolive Company $CL

Key Points

• Davis R M Inc. cut its Colgate-Palmolive stake by 29% in the first quarter, selling 12,649 shares and ending with 30,969 shares valued at about $2.64 million.
• Institutional ownership remains heavy, with hedge funds and other investors holding 80.41% of Colgate-Palmolive’s stock. Several large firms, including Norges Bank and Bank of New York Mellon, also increased or initiated positions recently.
• Colgate-Palmolive posted better-than-expected quarterly results, with EPS of $0.97 and revenue of $5.32 billion, and it also announced a quarterly dividend of $0.53 per share, implying a 2.3% yield.

Davis R M Inc. reduced its position in Colgate-Palmolive Company (NYSE:CL - Free Report) by 29.0% during the 1st quarter, according to its most recent filing with the SEC. The firm owned 30,969 shares of the company's stock after selling 12,649 shares during the quarter. Davis R M Inc.'s holdings in Colgate-Palmolive were worth $2,639,000 as of its most recent filing with the SEC.

A number of other large investors also recently bought and sold shares of the company. Norges Bank acquired a new stake in shares of Colgate-Palmolive in the 4th quarter worth $861,670,000. Bank of New York Mellon Corp increased its stake in shares of Colgate-Palmolive by 172.5% during the first quarter. Bank of New York Mellon Corp now owns 12,521,545 shares of the company's stock worth $1,067,211,000 after acquiring an additional 7,927,238 shares during the period. Northwestern Mutual Wealth Management Co. raised its holdings in Colgate-Palmolive by 8,040.1% during the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 4,655,987 shares of the company's stock worth $380,666,000 after purchasing an additional 4,598,789 shares in the last quarter. Balyasny Asset Management L.P. purchased a new position in Colgate-Palmolive during the fourth quarter worth about $236,682,000. Finally, Deutsche Bank AG lifted its position in Colgate-Palmolive by 33.9% in the fourth quarter. Deutsche Bank AG now owns 10,845,857 shares of the company's stock valued at $857,040,000 after purchasing an additional 2,746,920 shares during the period. Hedge funds and other institutional investors own 80.41% of the company's stock.

Analysts Set New Price Targets

A number of brokerages have weighed in on CL. TD Cowen reaffirmed a "hold" rating and issued a $85.00 price objective on shares of Colgate-Palmolive in a report on Tuesday, March 31st. Deutsche Bank Aktiengesellschaft reissued a "buy" rating and set a $99.00 target price on shares of Colgate-Palmolive in a research note on Monday, May 4th. Wells Fargo & Company raised their price target on Colgate-Palmolive from $92.00 to $95.00 and gave the company an "equal weight" rating in a report on Wednesday, July 8th. Rothschild & Co Redburn set a $100.00 price target on Colgate-Palmolive and gave the company a "buy" rating in a research note on Tuesday, April 21st. Finally, Sanford C. Bernstein started coverage on Colgate-Palmolive in a report on Thursday, June 11th. They set a "market perform" rating and a $96.00 price objective on the stock. Twelve investment analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the company. According to data from MarketBeat, Colgate-Palmolive currently has an average rating of "Moderate Buy" and an average price target of $97.82.

Colgate-Palmolive Stock Performance

CL opened at $91.69 on Thursday. Colgate-Palmolive Company has a 1-year low of $74.54 and a 1-year high of $99.33. The stock has a market cap of $73.37 billion, a P/E ratio of 35.68, a P/E/G ratio of 4.77 and a beta of 0.33. The stock's 50 day simple moving average is $90.70 and its 200 day simple moving average is $88.86. The company has a debt-to-equity ratio of 16.33, a current ratio of 1.02 and a quick ratio of 0.67.

Colgate-Palmolive (NYSE:CL - Get Free Report) last issued its quarterly earnings data on Friday, May 1st. The company reported $0.97 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.94 by $0.03. The firm had revenue of $5.32 billion during the quarter, compared to analysts' expectations of $5.22 billion. Colgate-Palmolive had a return on equity of 386.76% and a net margin of 10.04%.Colgate-Palmolive's revenue was up 8.4% on a year-over-year basis. During the same period in the previous year, the firm posted $0.91 earnings per share. As a group, equities analysts anticipate that Colgate-Palmolive Company will post 3.81 EPS for the current fiscal year.

Colgate-Palmolive Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, August 14th. Stockholders of record on Monday, July 20th will be paid a dividend of $0.53 per share. This represents a $2.12 annualized dividend and a dividend yield of 2.3%. The ex-dividend date of this dividend is Monday, July 20th. Colgate-Palmolive's payout ratio is 82.49%.

Colgate-Palmolive Company Profile

Colgate-Palmolive Company is a global consumer products company with a long history in household and personal care categories. The business traces its roots to the early 19th century and has evolved into a multinational manufacturer and marketer of everyday consumer goods focused on health, hygiene and home care.

The company's core activities center on oral care, personal care, home care and pet nutrition. Its product portfolio includes toothpaste, toothbrushes and mouthwash in oral care; soaps, body washes and deodorants in personal care; dishwashing liquids, surface cleaners and other household products in home care; and scientifically formulated pet foods under its pet nutrition business.

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