Lbp Am Sa Sells 21,254 Shares of Colgate-Palmolive Company $CL

Key Points

• Lbp Am Sa reduced its stake in Colgate-Palmolive Company by 9.1% in Q2, selling 21,254 shares, bringing its total holdings to 212,083 shares valued at approximately $19.3 million.
• Multiple analysts have revised their price targets for Colgate-Palmolive, with UBS lowering its target from $109 to $106, while Wells Fargo cut its target from $83 to $80, indicating a mixed sentiment in the market.
• Colgate-Palmolive recently declared a quarterly dividend of $0.52 per share, with an annualized yield of 2.6%, expected to be paid on November 14th to shareholders of record on October 17th.

Lbp Am Sa lessened its stake in Colgate-Palmolive Company (NYSE:CL - Free Report) by 9.1% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 212,083 shares of the company's stock after selling 21,254 shares during the period. Lbp Am Sa's holdings in Colgate-Palmolive were worth $19,278,000 at the end of the most recent quarter.

A number of other large investors have also added to or reduced their stakes in the stock. Bennett Selby Investments LP grew its position in Colgate-Palmolive by 41.8% in the 2nd quarter. Bennett Selby Investments LP now owns 5,830 shares of the company's stock worth $530,000 after purchasing an additional 1,718 shares during the period. HB Wealth Management LLC grew its position in shares of Colgate-Palmolive by 7.1% during the 2nd quarter. HB Wealth Management LLC now owns 81,142 shares of the company's stock valued at $7,376,000 after acquiring an additional 5,370 shares during the period. Archford Capital Strategies LLC bought a new stake in shares of Colgate-Palmolive during the 2nd quarter valued at $226,000. FARMERS & MERCHANTS TRUST Co OF LONG BEACH grew its position in shares of Colgate-Palmolive by 14.3% during the 2nd quarter. FARMERS & MERCHANTS TRUST Co OF LONG BEACH now owns 4,608 shares of the company's stock valued at $419,000 after acquiring an additional 577 shares during the period. Finally, Moss Adams Wealth Advisors LLC bought a new stake in shares of Colgate-Palmolive during the 2nd quarter valued at $201,000. Institutional investors own 80.41% of the company's stock.

Wall Street Analyst Weigh In

A number of equities research analysts have recently issued reports on CL shares. UBS Group cut their price objective on shares of Colgate-Palmolive from $109.00 to $106.00 and set a "buy" rating for the company in a research report on Thursday, July 17th. Wells Fargo & Company cut their price objective on shares of Colgate-Palmolive from $83.00 to $80.00 and set an "underweight" rating for the company in a research report on Thursday, September 25th. Morgan Stanley cut their price objective on shares of Colgate-Palmolive from $104.00 to $96.00 and set an "overweight" rating for the company in a research report on Monday, August 4th. JPMorgan Chase & Co. cut their price objective on shares of Colgate-Palmolive from $99.00 to $95.00 and set an "overweight" rating for the company in a research report on Monday, August 4th. Finally, Barclays boosted 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 report on Tuesday, July 15th. Seven investment analysts have rated the stock with a Buy rating, three have given a Hold rating and one has assigned a Sell rating to the company's stock. Based on data from MarketBeat.com, Colgate-Palmolive has a consensus rating of "Moderate Buy" and an average target price of $97.73.

Colgate-Palmolive Trading Down 0.5%

Shares of Colgate-Palmolive stock opened at $80.00 on Wednesday. The company has a market capitalization of $64.66 billion, a P/E ratio of 22.47, a P/E/G ratio of 4.18 and a beta of 0.35. The company has a debt-to-equity ratio of 6.79, a quick ratio of 0.57 and a current ratio of 0.89. The company has a fifty day moving average of $83.89 and a 200 day moving average of $88.56. Colgate-Palmolive Company has a fifty-two week low of $78.76 and a fifty-two week high of $103.82.

Colgate-Palmolive (NYSE:CL - Get Free Report) last issued its earnings results on Friday, August 1st. The company reported $0.92 earnings per share for the quarter, topping the consensus estimate of $0.89 by $0.03. The company had revenue of $5.11 billion during the quarter, compared to the consensus estimate of $5.03 billion. Colgate-Palmolive had a net margin of 14.55% and a return on equity of 377.63%. Colgate-Palmolive's quarterly revenue was up 1.0% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.91 EPS. On average, sell-side analysts anticipate that Colgate-Palmolive Company will post 3.75 earnings per share for the current fiscal year.

Colgate-Palmolive Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, November 14th. Shareholders of record on Friday, October 17th will be paid a $0.52 dividend. The ex-dividend date is Friday, October 17th. This represents a $2.08 annualized dividend and a yield of 2.6%. Colgate-Palmolive's payout ratio is presently 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.

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