MetLife Investment Management LLC Sells 5,614 Shares of Colgate-Palmolive Company $CL

Key Points

• MetLife Investment Management LLC reduced its stake in Colgate-Palmolive Company by 2.4% in Q1, resulting in ownership of 230,262 shares valued at approximately $21.58 million.
• Colgate-Palmolive's stock has received mixed ratings from analysts, with a consensus rating of Moderate Buy and an average target price of $98.92.
• The company reported an EPS of $0.92 for its last quarter, surpassing estimates and showing a 1% revenue increase year-over-year.

MetLife Investment Management LLC trimmed its stake in shares of Colgate-Palmolive Company (NYSE:CL - Free Report) by 2.4% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 230,262 shares of the company's stock after selling 5,614 shares during the quarter. MetLife Investment Management LLC's holdings in Colgate-Palmolive were worth $21,576,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds also recently made changes to their positions in the company. Westend Capital Management LLC raised its position in shares of Colgate-Palmolive by 111.1% during the first quarter. Westend Capital Management LLC now owns 266 shares of the company's stock worth $25,000 after acquiring an additional 140 shares during the last quarter. Cornerstone Planning Group LLC raised its position in shares of Colgate-Palmolive by 1,913.3% during the first quarter. Cornerstone Planning Group LLC now owns 302 shares of the company's stock worth $28,000 after acquiring an additional 287 shares during the last quarter. Vermillion Wealth Management Inc. bought a new position in shares of Colgate-Palmolive during the fourth quarter worth about $31,000. Accredited Wealth Management LLC bought a new position in shares of Colgate-Palmolive during the fourth quarter worth about $34,000. Finally, Y.D. More Investments Ltd bought a new position in shares of Colgate-Palmolive during the first quarter worth about $37,000. 80.41% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several research firms recently commented on CL. Barclays raised their target price on Colgate-Palmolive from $86.00 to $87.00 and gave the stock an "equal weight" rating in a research note on Tuesday, July 15th. JPMorgan Chase & Co. decreased their target price on Colgate-Palmolive from $99.00 to $95.00 and set an "overweight" rating for the company in a research note on Monday, August 4th. Wells Fargo & Company decreased their target price on Colgate-Palmolive from $88.00 to $83.00 and set an "underweight" rating for the company in a research note on Monday, August 4th. Morgan Stanley decreased their target price on Colgate-Palmolive from $104.00 to $96.00 and set an "overweight" rating for the company in a research note on Monday, August 4th. Finally, UBS Group decreased their target price 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. Seven research analysts have rated the stock with a Buy rating, four have assigned a Hold rating and one has issued a Sell rating to the company's stock. Based on data from MarketBeat.com, Colgate-Palmolive currently has a consensus rating of "Moderate Buy" and an average price target of $98.92.

Colgate-Palmolive Trading Down 0.6%

Shares of Colgate-Palmolive stock opened at $85.7790 on Monday. The company has a debt-to-equity ratio of 6.79, a quick ratio of 0.57 and a current ratio of 0.89. Colgate-Palmolive Company has a 52 week low of $82.40 and a 52 week high of $109.30. The stock has a 50 day moving average price of $87.60 and a two-hundred day moving average price of $89.96. The stock has a market capitalization of $69.33 billion, a PE ratio of 24.10, a price-to-earnings-growth ratio of 4.47 and a beta of 0.35.

Colgate-Palmolive (NYSE:CL - Get Free Report) last announced its quarterly earnings data on Friday, August 1st. The company reported $0.92 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 firm had revenue of $5.11 billion during the quarter, compared to analysts' expectations of $5.03 billion. During the same quarter last year, the firm posted $0.91 earnings per share. The company's revenue for the quarter was up 1.0% compared to the same quarter last year. As a group, equities 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 announced a quarterly dividend, which was paid on Friday, August 15th. Investors of record on Friday, July 18th were given a dividend of $0.52 per share. The ex-dividend date of this dividend was Friday, July 18th. This represents a $2.08 annualized dividend and a dividend yield of 2.4%. Colgate-Palmolive's payout ratio is presently 58.43%.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.