Maryland State Retirement & Pension System Sells 6,043 Shares of Colgate-Palmolive Company (NYSE:CL)

Key Points

• The Maryland State Retirement & Pension System reduced its holdings in Colgate-Palmolive by 13.7%, selling 6,043 shares in the first quarter, bringing its total to 37,999 shares.
• Colgate-Palmolive recently announced a quarterly dividend of $0.52 per share, which will be paid to shareholders on August 15th, with a dividend yield of 2.5%.
• The company reported $0.92 EPS for the last quarter, surpassing the consensus estimate of $0.89, with a revenue of $5.11 billion.

Maryland State Retirement & Pension System trimmed its position in shares of Colgate-Palmolive Company (NYSE:CL - Free Report) by 13.7% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 37,999 shares of the company's stock after selling 6,043 shares during the period. Maryland State Retirement & Pension System's holdings in Colgate-Palmolive were worth $3,561,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also bought and sold shares of CL. Westend Capital Management LLC grew its position in shares of Colgate-Palmolive by 111.1% in the first quarter. Westend Capital Management LLC now owns 266 shares of the company's stock valued at $25,000 after purchasing an additional 140 shares in the last quarter. Cornerstone Planning Group LLC grew its position in shares of Colgate-Palmolive by 1,913.3% in the first quarter. Cornerstone Planning Group LLC now owns 302 shares of the company's stock valued at $28,000 after purchasing an additional 287 shares in the last quarter. Vermillion Wealth Management Inc. purchased a new position in shares of Colgate-Palmolive in the fourth quarter valued at $31,000. Accredited Wealth Management LLC purchased a new position in shares of Colgate-Palmolive in the fourth quarter valued at $34,000. Finally, Bernard Wealth Management Corp. purchased a new position in shares of Colgate-Palmolive in the fourth quarter valued at $36,000. 80.41% of the stock is owned by institutional investors.

Colgate-Palmolive Stock Up 0.0%

Shares of NYSE:CL opened at $84.65 on Friday. Colgate-Palmolive Company has a 1 year low of $82.40 and a 1 year high of $109.30. The company has a market cap of $68.42 billion, a PE ratio of 23.78, a P/E/G ratio of 4.40 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 0.28. The stock's 50-day moving average is $88.92 and its 200 day moving average is $90.15.

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 (EPS) for the quarter, beating 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 for the quarter, compared to the consensus estimate of $5.03 billion. During the same quarter in the previous year, the business earned $0.91 EPS. Colgate-Palmolive's revenue was up 1.0% compared to the same quarter last year. Sell-side analysts anticipate that Colgate-Palmolive Company will post 3.75 EPS for the current year.

Colgate-Palmolive Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, August 15th. Shareholders 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 dividend yield of 2.5%. Colgate-Palmolive's dividend payout ratio is 58.43%.

Analysts Set New Price Targets

Several equities research analysts recently issued reports on CL shares. Wall Street Zen lowered Colgate-Palmolive from a "buy" rating to a "hold" rating in a research note on Wednesday, May 7th. Wells Fargo & Company dropped their price objective on Colgate-Palmolive from $88.00 to $83.00 and set an "underweight" rating for the company in a research note on Monday. Citigroup dropped their price objective on Colgate-Palmolive from $108.00 to $105.00 and set a "buy" rating for the company in a research note on Monday. UBS Group dropped their price objective on Colgate-Palmolive from $109.00 to $106.00 and set a "buy" rating for the company in a research note on Thursday, July 17th. Finally, Morgan Stanley set a $96.00 price objective on Colgate-Palmolive and gave the company an "overweight" rating in a research note on Monday. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and seven have assigned a buy rating to the company. According to MarketBeat, Colgate-Palmolive currently has an average rating of "Hold" and a consensus price target of $98.92.

Colgate-Palmolive Company 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.

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