Pensionfund Sabic Lowers Holdings in Colgate-Palmolive Company $CL

Key Points

• Pensionfund Sabic has reduced its holdings in Colgate-Palmolive Company by 15.2%, now owning 16,700 shares valued at approximately $1.57 million.
• Multiple hedge funds, including Price T Rowe Associates and Goldman Sachs, have recently increased their stakes in Colgate-Palmolive, indicating a mixed sentiment among institutional investors.
• The company announced a quarterly dividend of $0.52, reflecting an annualized yield of 2.5%, with a payout ratio of 58.43%.

Pensionfund Sabic trimmed its holdings in Colgate-Palmolive Company (NYSE:CL - Free Report) by 15.2% during the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 16,700 shares of the company's stock after selling 3,000 shares during the quarter. Pensionfund Sabic's holdings in Colgate-Palmolive were worth $1,565,000 at the end of the most recent reporting period.

Several other hedge funds also recently added to or reduced their stakes in CL. Price T Rowe Associates Inc. MD boosted its holdings in Colgate-Palmolive by 18.3% in the first quarter. Price T Rowe Associates Inc. MD now owns 34,009,078 shares of the company's stock valued at $3,186,651,000 after purchasing an additional 5,269,140 shares during the last quarter. Nuveen LLC purchased a new stake in shares of Colgate-Palmolive during the 1st quarter worth about $217,593,000. Goldman Sachs Group Inc. boosted its stake in shares of Colgate-Palmolive by 34.5% during the 1st quarter. Goldman Sachs Group Inc. now owns 7,980,387 shares of the company's stock worth $747,762,000 after acquiring an additional 2,045,191 shares in the last quarter. Diamond Hill Capital Management Inc. increased its stake in shares of Colgate-Palmolive by 45.0% in the 1st quarter. Diamond Hill Capital Management Inc. now owns 5,562,968 shares of the company's stock valued at $521,250,000 after purchasing an additional 1,727,105 shares in the last quarter. Finally, GAMMA Investing LLC raised its holdings in Colgate-Palmolive by 10,601.7% in the 1st quarter. GAMMA Investing LLC now owns 1,105,379 shares of the company's stock worth $103,574,000 after purchasing an additional 1,095,050 shares during the period. 80.41% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of equities analysts recently weighed in on the company. UBS Group reduced 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. JPMorgan Chase & Co. reduced 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. Citigroup reduced their price target on Colgate-Palmolive from $108.00 to $105.00 and set a "buy" rating for the company in a report on Monday, August 4th. Morgan Stanley reduced 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 upped their price target on Colgate-Palmolive from $86.00 to $87.00 and gave the stock an "equal weight" rating in a report on Tuesday, July 15th. Seven equities research analysts have rated the stock with a Buy rating, three have given a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $98.00.

Colgate-Palmolive Trading Down 0.8%

Shares of Colgate-Palmolive stock opened at $83.35 on Friday. The firm has a market capitalization of $67.37 billion, a PE ratio of 23.41, a P/E/G ratio of 4.37 and a beta of 0.35. Colgate-Palmolive Company has a twelve month low of $82.29 and a twelve month high of $106.26. The firm's 50-day moving average price is $85.95 and its 200 day moving average price is $89.55. The company has a current ratio of 0.89, a quick ratio of 0.57 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 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. On average, sell-side analysts predict that Colgate-Palmolive Company will post 3.75 EPS for the current fiscal year.

Colgate-Palmolive Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, November 14th. Investors of record on Friday, October 17th will be paid a $0.52 dividend. The ex-dividend date of this dividend is Friday, October 17th. This represents a $2.08 dividend on an annualized basis and a yield of 2.5%. Colgate-Palmolive's dividend payout ratio (DPR) is currently 58.43%.

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.

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