Raiffeisen Bank International AG Sells 9,176 Shares of Colgate-Palmolive Company (NYSE:CL)

Key Points

• Raiffeisen Bank International AG reduced its holdings in Colgate-Palmolive by 2.1%, owning 428,587 shares worth approximately $39.78 million as of the end of the first quarter.
• Colgate-Palmolive recently reported earnings of $0.92 per share, exceeding expectations and demonstrating a revenue growth of 1.0% year-over-year, with total revenue of $5.11 billion.
• The company declared a quarterly dividend of $0.52 per share, representing an annualized dividend of $2.08 and a yield of 2.5%, with a payout ratio of 58.76%.

Raiffeisen Bank International AG trimmed its stake in Colgate-Palmolive Company (NYSE:CL - Free Report) by 2.1% in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 428,587 shares of the company's stock after selling 9,176 shares during the period. Raiffeisen Bank International AG owned about 0.05% of Colgate-Palmolive worth $39,781,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also bought and sold shares of the company. Deutsche Bank AG grew its stake in shares of Colgate-Palmolive by 35.6% in the 4th quarter. Deutsche Bank AG now owns 6,922,994 shares of the company's stock valued at $629,369,000 after buying an additional 1,816,865 shares during the period. Diamond Hill Capital Management Inc. grew 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 buying an additional 1,727,105 shares during the period. Castlekeep Investment Advisors LLC acquired a new stake in shares of Colgate-Palmolive in the 4th quarter valued at about $111,738,000. Renaissance Technologies LLC grew its stake in shares of Colgate-Palmolive by 70.2% in the 4th quarter. Renaissance Technologies LLC now owns 2,808,110 shares of the company's stock valued at $255,285,000 after buying an additional 1,158,060 shares during the period. Finally, GAMMA Investing LLC grew its stake in shares of Colgate-Palmolive by 10,601.7% in the 1st quarter. GAMMA Investing LLC now owns 1,105,379 shares of the company's stock valued at $103,574,000 after buying an additional 1,095,050 shares during the period. 80.41% of the stock is currently owned by institutional investors and hedge funds.

Colgate-Palmolive Stock Performance

Shares of Colgate-Palmolive stock traded down $0.14 during mid-day trading on Tuesday, hitting $83.22. 2,559,884 shares of the stock were exchanged, compared to its average volume of 5,266,924. Colgate-Palmolive Company has a 12 month low of $82.40 and a 12 month high of $109.30. The company has a 50-day simple moving average of $89.40 and a 200 day simple moving average of $90.27. The company has a debt-to-equity ratio of 8.96, a quick ratio of 0.28 and a current ratio of 0.43. The company has a market capitalization of $67.44 billion, a P/E ratio of 23.37, a P/E/G ratio of 4.31 and a beta of 0.35.

Colgate-Palmolive (NYSE:CL - Get Free Report) last posted its quarterly earnings results on Friday, August 1st. The company reported $0.92 EPS for the quarter, topping analysts' consensus estimates of $0.89 by $0.03. The company had revenue of $5.11 billion for the quarter, compared to analysts' expectations of $5.03 billion. Colgate-Palmolive had a net margin of 14.55% and a return on equity of 377.63%. Colgate-Palmolive's revenue was up 1.0% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.91 EPS. Sell-side analysts anticipate that Colgate-Palmolive Company will post 3.75 earnings per share for the current fiscal year.

Colgate-Palmolive Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, August 15th. Investors of record on Friday, July 18th will be issued a $0.52 dividend. This represents a $2.08 dividend on an annualized basis and a dividend yield of 2.5%. The ex-dividend date of this dividend is Friday, July 18th. Colgate-Palmolive's payout ratio is 58.43%.

Wall Street Analysts Forecast Growth

Several brokerages have recently commented on CL. Citigroup reduced their target price on Colgate-Palmolive from $108.00 to $105.00 and set a "buy" rating for the company in a research note on Monday. 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 note on Tuesday, July 15th. Wall Street Zen downgraded Colgate-Palmolive from a "buy" rating to a "hold" rating in a research note on Wednesday, May 7th. Wells Fargo & Company cut their price target on Colgate-Palmolive from $88.00 to $83.00 and set an "underweight" rating for the company in a research note on Monday. Finally, JPMorgan Chase & Co. cut their price target on Colgate-Palmolive from $99.00 to $95.00 and set an "overweight" rating for the company in a research note on Monday. One 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. Based on data from MarketBeat, the stock currently has an average rating of "Hold" and a consensus price target of $98.92.

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.