Great Lakes Advisors LLC Decreases Holdings in Colgate-Palmolive Company $CL

Key Points

• Great Lakes Advisors LLC reduced its holdings in Colgate-Palmolive by 10.1%, owning 97,160 shares worth approximately $9.1 million after selling 10,903 shares in the 1st quarter.
• Colgate-Palmolive recently reported an earnings per share (EPS) of $0.92, exceeding estimates, with quarterly revenue of $5.11 billion, leading to a net margin of 14.55%.
• The company has a dividend yield of 2.5% after paying a quarterly dividend of $0.52 per share, with a payout ratio of 58.43%.

Great Lakes Advisors LLC trimmed its holdings in shares of Colgate-Palmolive Company (NYSE:CL - Free Report) by 10.1% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 97,160 shares of the company's stock after selling 10,903 shares during the quarter. Great Lakes Advisors LLC's holdings in Colgate-Palmolive were worth $9,104,000 at the end of the most recent reporting period.

Several other hedge funds have also recently made changes to their positions in CL. Brighton Jones LLC raised its position in shares of Colgate-Palmolive by 4.4% during the 4th quarter. Brighton Jones LLC now owns 10,578 shares of the company's stock valued at $962,000 after buying an additional 450 shares in the last quarter. Bernard Wealth Management Corp. purchased a new stake in Colgate-Palmolive in the 4th quarter worth about $36,000. Focus Partners Wealth raised its position in Colgate-Palmolive by 22.7% in the 4th quarter. Focus Partners Wealth now owns 179,636 shares of the company's stock worth $16,331,000 after purchasing an additional 33,219 shares during the period. Hudson Bay Capital Management LP purchased a new stake in Colgate-Palmolive in the 4th quarter worth about $3,326,000. Finally, Logan Capital Management Inc. raised its position in Colgate-Palmolive by 49.0% in the 4th quarter. Logan Capital Management Inc. now owns 49,335 shares of the company's stock worth $4,485,000 after purchasing an additional 16,226 shares during the period. 80.41% of the stock is currently owned by hedge funds and other institutional investors.

Colgate-Palmolive Stock Performance

Shares of NYSE:CL opened at $84.15 on Tuesday. The firm has a market cap of $68.01 billion, a PE ratio of 23.64, a price-to-earnings-growth ratio of 4.43 and a beta of 0.35. The firm's 50 day simple moving average is $86.61 and its 200-day simple moving average is $89.73. Colgate-Palmolive Company has a one year low of $82.40 and a one year high of $107.82. 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 issued its earnings results on Friday, August 1st. The company reported $0.92 EPS for the quarter, topping analysts' consensus estimates of $0.89 by $0.03. The business had revenue of $5.11 billion for the quarter, compared to analyst estimates of $5.03 billion. Colgate-Palmolive had a net margin of 14.55% and a return on equity of 377.63%. The company's quarterly revenue was up 1.0% compared to the same quarter last year. During the same period last year, the company posted $0.91 earnings per share. As a group, equities analysts predict 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 was paid on Friday, August 15th. Stockholders of record on Friday, July 18th were paid a dividend of $0.52 per share. The ex-dividend date was Friday, July 18th. This represents a $2.08 dividend on an annualized basis and a dividend yield of 2.5%. Colgate-Palmolive's dividend payout ratio (DPR) is currently 58.43%.

Wall Street Analysts Forecast Growth

A number of research firms recently weighed in on CL. Citigroup reduced their price objective on shares of Colgate-Palmolive from $108.00 to $105.00 and set a "buy" rating on the stock in a research report on Monday, August 4th. Wells Fargo & Company reduced their price objective on shares of Colgate-Palmolive from $88.00 to $83.00 and set an "underweight" rating on the stock in a research report on Monday, August 4th. Morgan Stanley reduced their price objective on shares of Colgate-Palmolive from $104.00 to $96.00 and set an "overweight" rating on the stock in a research report on Monday, August 4th. UBS Group reduced their price objective on shares of Colgate-Palmolive from $109.00 to $106.00 and set a "buy" rating on the stock in a research report on Thursday, July 17th. Finally, JPMorgan Chase & Co. reduced their price objective on shares of Colgate-Palmolive from $99.00 to $95.00 and set an "overweight" rating on the stock in a research report on Monday, August 4th. Seven investment analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average price target of $98.00.

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.

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