Northern Trust Corp Decreases Stock Holdings in Colgate-Palmolive Company $CL

Key Points

Error: Response status code does not indicate success: 429 (Too Many Requests).

Northern Trust Corp reduced its stake in shares of Colgate-Palmolive Company (NYSE:CL - Free Report) by 2.0% during the 1st quarter, according to its most recent filing with the SEC. The firm owned 9,307,617 shares of the company's stock after selling 190,202 shares during the period. Northern Trust Corp owned approximately 1.15% of Colgate-Palmolive worth $872,124,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Vanguard Group Inc. raised its position in Colgate-Palmolive by 0.6% during the first quarter. Vanguard Group Inc. now owns 81,758,257 shares of the company's stock valued at $7,660,749,000 after acquiring an additional 455,198 shares in the last quarter. Goldman Sachs Group Inc. raised its position in Colgate-Palmolive by 34.5% during the first quarter. Goldman Sachs Group Inc. now owns 7,980,387 shares of the company's stock valued at $747,762,000 after acquiring an additional 2,045,191 shares in the last quarter. Deutsche Bank AG raised its position in Colgate-Palmolive by 3.7% during the first quarter. Deutsche Bank AG now owns 7,176,598 shares of the company's stock valued at $672,447,000 after acquiring an additional 253,604 shares in the last quarter. Invesco Ltd. raised its position in Colgate-Palmolive by 5.0% during the first quarter. Invesco Ltd. now owns 6,867,209 shares of the company's stock valued at $643,458,000 after acquiring an additional 329,291 shares in the last quarter. Finally, Ameriprise Financial Inc. raised its position in Colgate-Palmolive by 3.8% during the fourth quarter. Ameriprise Financial Inc. now owns 6,798,821 shares of the company's stock valued at $617,359,000 after acquiring an additional 246,908 shares in the last quarter. 80.41% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several research analysts recently weighed in on CL shares. Barclays lifted their price target on Colgate-Palmolive from $86.00 to $87.00 and gave the company an "equal weight" rating in a research report on Tuesday, July 15th. Wall Street Zen cut Colgate-Palmolive from a "buy" rating to a "hold" rating in a research report on Wednesday, May 7th. Morgan Stanley dropped their target price on Colgate-Palmolive from $104.00 to $96.00 and set an "overweight" rating on the stock in a research report on Monday, August 4th. JPMorgan Chase & Co. dropped their target price on Colgate-Palmolive from $99.00 to $95.00 and set an "overweight" rating on the stock in a research report on Monday, August 4th. Finally, UBS Group dropped their target price on Colgate-Palmolive from $109.00 to $106.00 and set a "buy" rating on the stock in a research report on Thursday, July 17th. Seven analysts have rated the stock with a Buy rating, four have given a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, Colgate-Palmolive has an average rating of "Moderate Buy" and an average target price of $98.92.

Colgate-Palmolive Price Performance

Colgate-Palmolive stock traded down $0.5010 during midday trading on Friday, reaching $85.7790. The company had a trading volume of 4,087,413 shares, compared to its average volume of 5,056,872. The company has a market capitalization of $69.33 billion, a P/E ratio of 24.10, a P/E/G ratio of 4.47 and a beta of 0.35. Colgate-Palmolive Company has a 12-month low of $82.40 and a 12-month high of $109.30. The firm's fifty day simple moving average is $87.60 and its 200-day simple moving average is $89.93. The company has a debt-to-equity ratio of 6.79, a current ratio of 0.89 and a quick ratio of 0.57.

Colgate-Palmolive (NYSE:CL - Get Free Report) last issued its quarterly earnings results on Friday, August 1st. The company reported $0.92 earnings per share for the quarter, beating analysts' consensus estimates of $0.89 by $0.03. The firm had revenue of $5.11 billion for the quarter, compared to analyst estimates 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 period last year, the company posted $0.91 EPS. As a group, equities analysts anticipate that Colgate-Palmolive Company will post 3.75 EPS for the current year.

Colgate-Palmolive Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, August 15th. Investors of record on Friday, July 18th were paid a $0.52 dividend. The ex-dividend date of this dividend was Friday, July 18th. This represents a $2.08 dividend on an annualized basis and a yield of 2.4%. Colgate-Palmolive's dividend payout ratio (DPR) is currently 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.