Colgate-Palmolive Company (NYSE:CL) Shares Sold by Fayez Sarofim & Co

Key Points

• Fayez Sarofim & Co has reduced its position in Colgate-Palmolive by 11.8%, selling 3,836 shares and now holding 28,788 shares valued at $2.7 million.
• Despite the reductions from some investors, Vanguard Group and others have increased their stakes, indicating mixed sentiment among institutional investors.
• Colgate-Palmolive announced a quarterly dividend of $0.52 per share, with an annualized payout of $2.08, reflecting a dividend yield of 2.5%.

Fayez Sarofim & Co trimmed its holdings in shares of Colgate-Palmolive Company (NYSE:CL - Free Report) by 11.8% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 28,788 shares of the company's stock after selling 3,836 shares during the period. Fayez Sarofim & Co's holdings in Colgate-Palmolive were worth $2,697,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Westend Capital Management LLC lifted its holdings in Colgate-Palmolive by 111.1% in the first quarter. Westend Capital Management LLC now owns 266 shares of the company's stock valued at $25,000 after acquiring an additional 140 shares during the period. Cornerstone Planning Group LLC lifted its holdings in Colgate-Palmolive by 1,913.3% in the first quarter. Cornerstone Planning Group LLC now owns 302 shares of the company's stock valued at $28,000 after acquiring an additional 287 shares during the period. Vermillion Wealth Management Inc. acquired a new position in shares of Colgate-Palmolive during the 4th quarter worth approximately $31,000. Accredited Wealth Management LLC acquired a new position in shares of Colgate-Palmolive during the 4th quarter worth approximately $34,000. Finally, Bernard Wealth Management Corp. acquired a new position in shares of Colgate-Palmolive during the 4th quarter worth approximately $36,000. Hedge funds and other institutional investors own 80.41% of the company's stock.

Analyst Ratings Changes

CL has been the subject of several research analyst reports. JPMorgan Chase & Co. reduced their target price on Colgate-Palmolive from $99.00 to $95.00 and set an "overweight" rating for the company in a research note on Monday, August 4th. Citigroup reduced their target price 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. Wall Street Zen downgraded Colgate-Palmolive from a "buy" rating to a "hold" rating in a research note on Wednesday, May 7th. UBS Group reduced their price objective 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. Finally, Wells Fargo & Company reduced their price objective 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 analyst has rated the stock with a sell rating, five have issued a hold rating and seven have given a buy rating to the company's stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and a consensus price target of $98.92.

Colgate-Palmolive Price Performance

CL stock traded down $0.23 during midday trading on Monday, hitting $84.46. 3,435,319 shares of the stock were exchanged, compared to its average volume of 5,267,186. The stock's 50-day moving average price is $88.76 and its 200-day moving average price is $90.16. The stock has a market cap of $68.26 billion, a price-to-earnings ratio of 23.72, a PEG ratio of 4.41 and a beta of 0.35. Colgate-Palmolive Company has a fifty-two week low of $82.40 and a fifty-two week 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.

Colgate-Palmolive (NYSE:CL - Get Free Report) last released its quarterly earnings results on Friday, August 1st. The company reported $0.92 earnings per share for the quarter, topping 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 company had revenue of $5.11 billion during the quarter, compared to analysts' expectations of $5.03 billion. During the same period in the previous year, the firm posted $0.91 earnings per share. The business's revenue for the quarter was up 1.0% compared to the same quarter last year. Research analysts predict that Colgate-Palmolive Company will post 3.75 earnings per share for the current year.

Colgate-Palmolive Announces Dividend

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 issued a $0.52 dividend. This represents a $2.08 dividend on an annualized basis and a dividend yield of 2.5%. The ex-dividend date of this dividend is Friday, July 18th. Colgate-Palmolive's payout ratio is 58.43%.

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.