LGT Fund Management Co Ltd. Reduces Stock Position in Colgate-Palmolive Company (NYSE:CL)

Key Points

• LGT Fund Management Co Ltd. reduced its stake in Colgate-Palmolive by 22.6%, selling 9,427 shares and now holding 32,329 shares valued at approximately $3,029,000.
• Colgate-Palmolive's latest quarterly earnings report showed $0.92 EPS, exceeding estimates, with revenue of $5.11 billion, a 1.0% increase year-over-year.
• Analysts have mixed ratings on Colgate-Palmolive, with a consensus rating of "Hold" and a target price averaging around $98.92, following multiple adjustments from firms such as JPMorgan and Wells Fargo.

LGT Fund Management Co Ltd. lessened its holdings in shares of Colgate-Palmolive Company (NYSE:CL - Free Report) by 22.6% in the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 32,329 shares of the company's stock after selling 9,427 shares during the quarter. LGT Fund Management Co Ltd.'s holdings in Colgate-Palmolive were worth $3,029,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors have also added to or reduced their stakes in the company. Cornerstone Wealth Management LLC raised its stake in Colgate-Palmolive by 1.2% during the 1st quarter. Cornerstone Wealth Management LLC now owns 9,035 shares of the company's stock valued at $847,000 after purchasing an additional 110 shares during the period. Aberdeen Wealth Management LLC raised its stake in Colgate-Palmolive by 0.6% during the 4th quarter. Aberdeen Wealth Management LLC now owns 20,651 shares of the company's stock valued at $1,877,000 after purchasing an additional 125 shares during the period. Town & Country Bank & Trust CO dba First Bankers Trust CO raised its stake in Colgate-Palmolive by 4.0% during the 1st quarter. Town & Country Bank & Trust CO dba First Bankers Trust CO now owns 3,388 shares of the company's stock valued at $317,000 after purchasing an additional 130 shares during the period. Continuum Advisory LLC raised its stake in Colgate-Palmolive by 17.2% during the 4th quarter. Continuum Advisory LLC now owns 893 shares of the company's stock valued at $81,000 after purchasing an additional 131 shares during the period. Finally, KFG Wealth Management LLC grew its holdings in Colgate-Palmolive by 1.5% during the 1st quarter. KFG Wealth Management LLC now owns 8,835 shares of the company's stock valued at $828,000 after buying an additional 131 shares in the last quarter. Institutional investors own 80.41% of the company's stock.

Colgate-Palmolive Trading Down 1.9%

Shares of Colgate-Palmolive stock traded down $1.61 on Thursday, reaching $84.73. The company had a trading volume of 3,497,168 shares, compared to its average volume of 4,876,128. The firm has a market cap of $68.48 billion, a price-to-earnings ratio of 23.80, a P/E/G ratio of 4.49 and a beta of 0.35. The company has a debt-to-equity ratio of 6.79, a current ratio of 0.89 and a quick ratio of 0.57. The firm's 50-day moving average price is $88.31 and its two-hundred day moving average price is $90.03. Colgate-Palmolive Company has a 1 year low of $82.40 and a 1 year high of $109.30.

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

Colgate-Palmolive Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, August 15th. Investors of record on Friday, July 18th will be issued a dividend of $0.52 per share. The ex-dividend date is Friday, July 18th. This represents a $2.08 dividend on an annualized basis and a yield of 2.5%. Colgate-Palmolive's payout ratio is presently 58.43%.

Wall Street Analyst Weigh In

Several research firms have weighed in on CL. JPMorgan Chase & Co. cut their price target on Colgate-Palmolive from $99.00 to $95.00 and set an "overweight" rating for the company in a report on Monday, August 4th. UBS Group cut their price target on Colgate-Palmolive from $109.00 to $106.00 and set a "buy" rating for the company in a report on Thursday, July 17th. Wells Fargo & Company cut their price target on Colgate-Palmolive from $88.00 to $83.00 and set an "underweight" rating for the company in a report on Monday, August 4th. Morgan Stanley cut their price target on Colgate-Palmolive from $104.00 to $96.00 and set an "overweight" rating for the company in a report on Monday, August 4th. Finally, Barclays raised their price target on Colgate-Palmolive from $86.00 to $87.00 and gave the company an "equal weight" rating in a report on Tuesday, July 15th. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and seven have assigned a buy rating to the company. Based on data from MarketBeat, Colgate-Palmolive has an average rating of "Hold" and a consensus price target of $98.92.

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.