Public Employees Retirement System of Ohio Sells 8,194 Shares of Colgate-Palmolive Company $CL

Key Points

• The Public Employees Retirement System of Ohio has reduced its stake in Colgate-Palmolive by 2.4%, selling 8,194 shares and now holding 330,556 shares valued at approximately $30 million.
• Colgate-Palmolive recently reported a quarterly EPS of $0.92, beating estimates of $0.89, with revenues of $5.11 billion for the quarter, reflecting a 1.0% year-over-year increase.
• The company has announced a quarterly dividend of $0.52, with a payout ratio of 58.43% and a yield of 2.6%, scheduled for payment on November 14th.

Public Employees Retirement System of Ohio reduced its holdings in Colgate-Palmolive Company (NYSE:CL - Free Report) by 2.4% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 330,556 shares of the company's stock after selling 8,194 shares during the period. Public Employees Retirement System of Ohio's holdings in Colgate-Palmolive were worth $30,048,000 as of its most recent SEC filing.

Other institutional investors also recently added to or reduced their stakes in the company. Brighton Jones LLC grew its holdings in shares of Colgate-Palmolive by 4.4% during the 4th quarter. Brighton Jones LLC now owns 10,578 shares of the company's stock worth $962,000 after purchasing an additional 450 shares in the last quarter. Wood Tarver Financial Group LLC acquired a new stake in shares of Colgate-Palmolive during the 4th quarter worth approximately $48,000. Mattson Financial Services LLC acquired a new stake in shares of Colgate-Palmolive during the 4th quarter worth approximately $264,000. Northstar Financial Companies Inc. acquired a new stake in shares of Colgate-Palmolive during the 4th quarter worth approximately $331,000. Finally, Wealth Enhancement Advisory Services LLC grew its holdings in shares of Colgate-Palmolive by 4.5% during the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 266,407 shares of the company's stock worth $24,219,000 after purchasing an additional 11,484 shares in the last quarter. 80.41% of the stock is owned by institutional investors.

Colgate-Palmolive Trading Up 1.2%

Shares of CL opened at $81.14 on Thursday. The stock has a fifty day moving average price of $84.49 and a two-hundred day moving average price of $88.94. 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 $78.76 and a 52-week high of $104.49. The company has a market cap of $65.58 billion, a price-to-earnings ratio of 22.79, a PEG ratio of 4.17 and a beta of 0.35.

Colgate-Palmolive (NYSE:CL - Get Free Report) last issued its quarterly earnings data on Friday, August 1st. The company reported $0.92 earnings per share (EPS) for the quarter, beating the consensus estimate 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 the consensus estimate of $5.03 billion. During the same quarter in the previous year, the company posted $0.91 EPS. The business's revenue for the quarter 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 Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, November 14th. Shareholders of record on Friday, October 17th will be given a $0.52 dividend. The ex-dividend date is Friday, October 17th. This represents a $2.08 annualized dividend and a yield of 2.6%. Colgate-Palmolive's payout ratio is presently 58.43%.

Analyst Ratings Changes

Several analysts have recently weighed in on CL shares. Barclays lifted their price objective on Colgate-Palmolive from $86.00 to $87.00 and gave the stock an "equal weight" rating in a report on Tuesday, July 15th. Citigroup cut their target price on Colgate-Palmolive from $108.00 to $105.00 and set a "buy" rating for the company in a research report on Monday, August 4th. Morgan Stanley cut their target price on Colgate-Palmolive from $104.00 to $96.00 and set an "overweight" rating for the company in a research report on Monday, August 4th. JPMorgan Chase & Co. cut their target price on Colgate-Palmolive from $99.00 to $95.00 and set an "overweight" rating for the company in a research report on Monday, August 4th. Finally, UBS Group cut their target price on Colgate-Palmolive from $109.00 to $106.00 and set a "buy" rating for the company in a research report on Thursday, July 17th. Seven equities research analysts have rated the stock with a Buy rating, three have given a Hold rating and one has assigned a Sell rating to the company's stock. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average target price of $98.00.

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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