LGT Group Foundation Has $5.83 Million Position in Colgate-Palmolive Company (NYSE:CL)

Key Points

• LGT Group Foundation significantly reduced its stake in Colgate-Palmolive Company, selling 109,746 shares to cut its holdings by 63.8%.
• Colgate-Palmolive reported a quarterly earnings per share (EPS) of $0.92, exceeding analysts' expectations and showing a 1.0% revenue increase year-over-year.
• The company recently declared a quarterly dividend of $0.52 per share, equating to an annualized dividend yield of 2.4%.

LGT Group Foundation trimmed its stake in Colgate-Palmolive Company (NYSE:CL - Free Report) by 63.8% during the first quarter, according to its most recent disclosure with the SEC. The fund owned 62,218 shares of the company's stock after selling 109,746 shares during the quarter. LGT Group Foundation's holdings in Colgate-Palmolive were worth $5,830,000 as of its most recent SEC filing.

A number of other hedge funds also recently added to or reduced their stakes in the stock. Personal CFO Solutions LLC bought a new stake in shares of Colgate-Palmolive during the first quarter valued at about $285,000. Vision Capital Management Inc. bought a new stake in shares of Colgate-Palmolive during the first quarter valued at about $322,000. Autumn Glory Partners LLC raised its stake in shares of Colgate-Palmolive by 67.4% during the first quarter. Autumn Glory Partners LLC now owns 8,905 shares of the company's stock valued at $851,000 after purchasing an additional 3,586 shares in the last quarter. Financial Gravity Asset Management Inc. bought a new stake in shares of Colgate-Palmolive during the first quarter valued at about $2,166,000. Finally, Penserra Capital Management LLC raised its stake in shares of Colgate-Palmolive by 398.6% during the first quarter. Penserra Capital Management LLC now owns 10,651 shares of the company's stock valued at $997,000 after purchasing an additional 8,515 shares in the last quarter. 80.41% of the stock is currently owned by institutional investors.

Colgate-Palmolive Stock Performance

Shares of CL stock traded up $0.37 during trading hours on Friday, reaching $85.02. 4,150,397 shares of the company's stock were exchanged, compared to its average volume of 5,238,334. Colgate-Palmolive Company has a fifty-two week low of $82.40 and a fifty-two week high of $109.30. The stock has a market capitalization of $68.71 billion, a P/E ratio of 23.88, a P/E/G ratio of 4.49 and a beta of 0.35. The business has a fifty day moving average price of $88.31 and a 200-day moving average price of $90.03. The company has a quick ratio of 0.57, a current ratio of 0.89 and a debt-to-equity ratio of 6.79.

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

Colgate-Palmolive Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, August 15th. Investors of record on Friday, July 18th will be paid a $0.52 dividend. This represents a $2.08 dividend on an annualized basis and a dividend yield of 2.4%. The ex-dividend date is Friday, July 18th. Colgate-Palmolive's dividend payout ratio is presently 58.43%.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on CL shares. Wells Fargo & Company lowered their target price on Colgate-Palmolive from $88.00 to $83.00 and set an "underweight" rating on the stock in a report on Monday, August 4th. Wall Street Zen cut Colgate-Palmolive from a "buy" rating to a "hold" rating in a research note on Wednesday, May 7th. Barclays lifted their target price on Colgate-Palmolive from $86.00 to $87.00 and gave the company an "equal weight" rating in a research note on Tuesday, July 15th. Citigroup reduced their target price on Colgate-Palmolive from $108.00 to $105.00 and set a "buy" rating for the company in a report on Monday, August 4th. Finally, UBS Group reduced their target price on Colgate-Palmolive from $109.00 to $106.00 and set a "buy" rating for the company in a report on Thursday, July 17th. One analyst has rated the stock with a sell rating, five have given a hold rating and seven have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and a consensus target price of $98.92.

Colgate-Palmolive 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.