Groupama Asset Managment Cuts Stock Holdings in Colgate-Palmolive Company $CL

Key Points

• Groupama Asset Management cut its Colgate-Palmolive stake by 90.5% in the first quarter, selling 23,585 shares and retaining 2,464 shares worth approximately $210,000. Institutional investors collectively own 80.41% of the company.
• Analysts maintain a generally positive outlook, with 12 Buy ratings and seven Holds, producing a consensus “Moderate Buy” rating and a $99 price target. Recent quarterly results beat expectations, with earnings of $0.99 per share and revenue of $5.36 billion.
• Colgate-Palmolive declared a quarterly dividend of $0.53 per share, equivalent to $2.12 annually and a 2.4% yield. Shares opened at $89.86, below the consensus price target.

Groupama Asset Managment lessened its position in Colgate-Palmolive Company (NYSE:CL - Free Report) by 90.5% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 2,464 shares of the company's stock after selling 23,585 shares during the quarter. Groupama Asset Managment's holdings in Colgate-Palmolive were worth $210,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the business. Vanguard Group Inc. raised its stake in Colgate-Palmolive by 1.2% during the fourth quarter. Vanguard Group Inc. now owns 83,947,987 shares of the company's stock worth $6,633,570,000 after purchasing an additional 1,026,985 shares during the period. Geode Capital Management LLC grew its stake in shares of Colgate-Palmolive by 1.4% in the 4th quarter. Geode Capital Management LLC now owns 22,103,901 shares of the company's stock valued at $1,754,657,000 after buying an additional 304,426 shares during the period. Morgan Stanley increased its holdings in shares of Colgate-Palmolive by 1.7% during the 4th quarter. Morgan Stanley now owns 19,246,217 shares of the company's stock worth $1,520,836,000 after buying an additional 323,367 shares during the last quarter. Bank of New York Mellon Corp increased its holdings in shares of Colgate-Palmolive by 172.5% during the 1st quarter. Bank of New York Mellon Corp now owns 12,521,545 shares of the company's stock worth $1,067,211,000 after buying an additional 7,927,238 shares during the last quarter. Finally, Norges Bank purchased a new stake in shares of Colgate-Palmolive during the 4th quarter valued at approximately $861,670,000. Institutional investors and hedge funds own 80.41% of the company's stock.

Wall Street Analyst Weigh In

Several research analysts recently weighed in on the company. Citigroup increased their price objective on Colgate-Palmolive from $105.00 to $110.00 and gave the stock a "buy" rating in a research report on Tuesday, July 14th. UBS Group upped their price target on Colgate-Palmolive from $106.00 to $109.00 and gave the company a "buy" rating in a research note on Monday. Deutsche Bank Aktiengesellschaft reiterated a "buy" rating and set a $101.00 price target on shares of Colgate-Palmolive in a report on Monday. The Goldman Sachs Group reissued a "buy" rating on shares of Colgate-Palmolive in a research report on Friday, May 1st. Finally, Sanford C. Bernstein started coverage on shares of Colgate-Palmolive in a research report on Thursday, June 11th. They issued a "market perform" rating and a $96.00 target price on the stock. Twelve analysts have rated the stock with a Buy rating and seven have given a Hold rating to the company. Based on data from MarketBeat, Colgate-Palmolive has an average rating of "Moderate Buy" and a consensus price target of $99.00.

Colgate-Palmolive Stock Down 1.6%

Shares of NYSE CL opened at $89.86 on Tuesday. The firm has a market cap of $71.91 billion, a price-to-earnings ratio of 35.66, a PEG ratio of 4.80 and a beta of 0.33. The company has a quick ratio of 0.30, a current ratio of 0.45 and a debt-to-equity ratio of 16.33. Colgate-Palmolive Company has a 52-week low of $74.54 and a 52-week high of $99.33. The business's 50 day moving average is $90.96 and its two-hundred day moving average is $89.54.

Colgate-Palmolive (NYSE:CL - Get Free Report) last released its quarterly earnings results on Friday, July 31st. The company reported $0.99 EPS for the quarter, topping analysts' consensus estimates of $0.95 by $0.04. The company had revenue of $5.36 billion for the quarter, compared to analysts' expectations of $5.36 billion. Colgate-Palmolive had a return on equity of 464.63% and a net margin of 9.68%.The firm's revenue was up 4.9% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.92 earnings per share. Research analysts predict that Colgate-Palmolive Company will post 3.82 EPS for the current year.

Colgate-Palmolive Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, August 14th. Investors of record on Monday, July 20th will be issued a dividend of $0.53 per share. This represents a $2.12 dividend on an annualized basis and a yield of 2.4%. The ex-dividend date is Monday, July 20th. Colgate-Palmolive's dividend payout ratio (DPR) is 84.13%.

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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