Rathbones Group PLC Cuts Stock Holdings in Colgate-Palmolive Company (NYSE:CL)

Key Points

• Rathbones Group PLC reduced its holdings in Colgate-Palmolive Company by 5.1%, owning a total of 214,656 shares worth approximately $20.1 million after selling 11,645 shares in the first quarter.
• Colgate-Palmolive recently reported quarterly earnings of $0.92 per share, exceeding analysts' expectations of $0.89, with revenue up 1.0% year-over-year at $5.11 billion.
• The company announced a quarterly dividend of $0.52 per share, resulting in an annualized dividend of $2.08 and a yield of 2.4%, payable on August 15th.

Rathbones Group PLC trimmed its position in shares of Colgate-Palmolive Company (NYSE:CL - Free Report) by 5.1% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 214,656 shares of the company's stock after selling 11,645 shares during the period. Rathbones Group PLC's holdings in Colgate-Palmolive were worth $20,113,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also added to or reduced their stakes in the company. Brighton Jones LLC grew its stake in shares of Colgate-Palmolive by 4.4% in the fourth quarter. Brighton Jones LLC now owns 10,578 shares of the company's stock valued at $962,000 after acquiring an additional 450 shares in the last quarter. Bernard Wealth Management Corp. acquired a new stake in shares of Colgate-Palmolive in the 4th quarter valued at approximately $36,000. Sagespring Wealth Partners LLC acquired a new stake in shares of Colgate-Palmolive in the 4th quarter valued at approximately $625,000. Savvy Advisors Inc. raised its holdings in Colgate-Palmolive by 10.7% in the 4th quarter. Savvy Advisors Inc. now owns 3,675 shares of the company's stock valued at $334,000 after buying an additional 356 shares during the last quarter. Finally, CreativeOne Wealth LLC raised its holdings in Colgate-Palmolive by 9.8% in the 4th quarter. CreativeOne Wealth LLC now owns 12,052 shares of the company's stock valued at $1,096,000 after buying an additional 1,072 shares during the last quarter. 80.41% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on CL. Wall Street Zen lowered shares of Colgate-Palmolive from a "buy" rating to a "hold" rating in a report on Wednesday, May 7th. Wells Fargo & Company lowered their price target on shares of Colgate-Palmolive from $88.00 to $83.00 and set an "underweight" rating for the company in a report on Monday, August 4th. Citigroup lowered their price target on shares of Colgate-Palmolive from $108.00 to $105.00 and set a "buy" rating for the company in a report on Monday, August 4th. JPMorgan Chase & Co. lowered their price target on shares of Colgate-Palmolive from $99.00 to $95.00 and set an "overweight" rating for the company in a report on Monday, August 4th. Finally, Morgan Stanley lowered their price target on shares of Colgate-Palmolive from $104.00 to $96.00 and set an "overweight" rating for the company in a report on Monday, August 4th. One analyst has rated the stock with a sell rating, five have assigned a hold rating and seven have issued a buy rating to the company's stock. According to MarketBeat, the company presently has an average rating of "Hold" and a consensus price target of $98.92.

Colgate-Palmolive Trading Up 0.4%

Shares of NYSE:CL traded up $0.37 during mid-day trading on Friday, hitting $85.02. The company had a trading volume of 4,150,397 shares, compared to its average volume of 4,861,582. The firm has a fifty day moving average price of $88.21 and a 200 day moving average price of $90.00. The company has a market capitalization of $68.71 billion, a PE ratio of 23.88, a price-to-earnings-growth ratio of 4.43 and a beta of 0.35. 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 Company has a one year low of $82.40 and a one year high of $109.30.

Colgate-Palmolive (NYSE:CL - Get Free Report) last released its quarterly earnings data on Friday, August 1st. The company reported $0.92 earnings per share for the quarter, beating the consensus estimate of $0.89 by $0.03. The company had revenue of $5.11 billion during 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 revenue for the quarter was up 1.0% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.91 EPS. As a group, research analysts forecast that Colgate-Palmolive Company will post 3.75 EPS for the current year.

Colgate-Palmolive Announces Dividend

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