Korea Investment CORP Sells 41,874 Shares of Colgate-Palmolive Company $CL

Key Points

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Korea Investment CORP lowered its stake in Colgate-Palmolive Company (NYSE:CL - Free Report) by 6.2% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 633,865 shares of the company's stock after selling 41,874 shares during the period. Korea Investment CORP owned 0.08% of Colgate-Palmolive worth $59,393,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. Brighton Jones LLC boosted its stake in Colgate-Palmolive by 4.4% in the fourth quarter. Brighton Jones LLC now owns 10,578 shares of the company's stock valued at $962,000 after acquiring an additional 450 shares during the last quarter. Bernard Wealth Management Corp. bought a new position in Colgate-Palmolive in the fourth quarter valued at approximately $36,000. Forum Financial Management LP boosted its stake in Colgate-Palmolive by 24.6% in the fourth quarter. Forum Financial Management LP now owns 5,513 shares of the company's stock valued at $501,000 after acquiring an additional 1,088 shares during the last quarter. Transce3nd LLC bought a new position in Colgate-Palmolive in the fourth quarter valued at approximately $42,000. Finally, Tower Research Capital LLC TRC boosted its stake in Colgate-Palmolive by 104.8% in the fourth quarter. Tower Research Capital LLC TRC now owns 63,684 shares of the company's stock valued at $5,790,000 after acquiring an additional 32,582 shares during the last quarter. Institutional investors and hedge funds own 80.41% of the company's stock.

Analyst Ratings Changes

A number of brokerages have issued reports on CL. 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 note 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 note 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 note on Monday, August 4th. Barclays raised their price objective 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. Finally, 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 note on Thursday, July 17th. Seven research analysts have rated the stock with a Buy rating, four have given a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $98.92.

Colgate-Palmolive Trading Down 0.6%

Shares of NYSE CL traded down $0.5010 during midday trading on Friday, reaching $85.7790. 4,087,413 shares of the stock were exchanged, compared to its average volume of 5,101,937. The business has a 50-day simple moving average of $87.60 and a two-hundred day simple moving average of $89.96. The company has a market capitalization of $69.33 billion, a price-to-earnings ratio of 24.10, a P/E/G ratio of 4.47 and a beta of 0.35. 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 current ratio of 0.89 and a quick ratio of 0.57.

Colgate-Palmolive (NYSE:CL - Get Free Report) last announced 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. The company had revenue of $5.11 billion for the quarter, compared to analysts' expectations of $5.03 billion. Colgate-Palmolive had a net margin of 14.55% and a return on equity of 377.63%. The business's quarterly revenue was up 1.0% compared to the same quarter last year. During the same period last year, the firm posted $0.91 earnings per share. As a group, equities research analysts expect that Colgate-Palmolive Company will post 3.75 EPS for the current year.

Colgate-Palmolive Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, August 15th. Investors of record on Friday, July 18th were given a $0.52 dividend. This represents a $2.08 annualized dividend and a yield of 2.4%. The ex-dividend date of this dividend was Friday, July 18th. Colgate-Palmolive's payout ratio is currently 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.