Royal Bank of Canada Sells 306,404 Shares of Colgate-Palmolive Company $CL

Key Points

• Royal Bank of Canada has reduced its stake in Colgate-Palmolive by 6% to approximately $446.4 million during the first quarter.
• Colgate-Palmolive's latest earnings report revealed $0.92 EPS, exceeding analyst expectations, with revenues of $5.11 billion, reflecting a 1% year-over-year increase.
• The company recently announced a quarterly dividend of $0.52 per share, resulting in an annualized yield of 2.5%.

Royal Bank of Canada reduced its position in shares of Colgate-Palmolive Company (NYSE:CL - Free Report) by 6.0% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 4,764,113 shares of the company's stock after selling 306,404 shares during the quarter. Royal Bank of Canada owned 0.59% of Colgate-Palmolive worth $446,397,000 at the end of the most recent quarter.

Several other large investors also recently added to or reduced their stakes in CL. Westend Capital Management LLC raised its stake in Colgate-Palmolive by 111.1% during the 1st quarter. Westend Capital Management LLC now owns 266 shares of the company's stock valued at $25,000 after purchasing an additional 140 shares during the period. Cornerstone Planning Group LLC raised its stake in Colgate-Palmolive by 1,913.3% during the 1st quarter. Cornerstone Planning Group LLC now owns 302 shares of the company's stock valued at $28,000 after purchasing an additional 287 shares during the period. Saudi Central Bank acquired a new stake in Colgate-Palmolive during the 1st quarter valued at $29,000. Vermillion Wealth Management Inc. acquired a new stake in Colgate-Palmolive during the 4th quarter valued at $31,000. Finally, Accredited Wealth Management LLC acquired a new position in shares of Colgate-Palmolive in the fourth quarter worth $34,000. 80.41% of the stock is owned by institutional investors and hedge funds.

Colgate-Palmolive Stock Down 0.2%

NYSE:CL traded down $0.14 during trading hours on Thursday, reaching $83.67. The company's stock had a trading volume of 6,202,383 shares, compared to its average volume of 5,214,231. The company has a market cap of $67.62 billion, a price-to-earnings ratio of 23.50, a price-to-earnings-growth ratio of 4.37 and a beta of 0.35. Colgate-Palmolive Company has a one year low of $82.40 and a one year high of $109.30. The business's 50-day moving average is $86.90 and its 200-day moving average is $89.76. 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 data on Friday, August 1st. The company reported $0.92 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.89 by $0.03. The firm had revenue of $5.11 billion during 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 for the quarter was up 1.0% on a year-over-year basis. During the same period in the prior year, the company posted $0.91 earnings per share. Equities research analysts predict that Colgate-Palmolive Company will post 3.75 EPS for the current year.

Colgate-Palmolive Announces Dividend

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

Wall Street Analyst Weigh In

A number of equities analysts have recently weighed in on CL shares. Wall Street Zen downgraded shares of Colgate-Palmolive from a "buy" rating to a "hold" rating in a research note on Wednesday, May 7th. Barclays upped their price target on shares of Colgate-Palmolive from $86.00 to $87.00 and gave the stock an "equal weight" rating in a research note on Tuesday, July 15th. Wells Fargo & Company dropped their price target on shares of Colgate-Palmolive from $88.00 to $83.00 and set an "underweight" rating on the stock in a research note on Monday, August 4th. UBS Group dropped their price target on shares of Colgate-Palmolive from $109.00 to $106.00 and set a "buy" rating on the stock in a research note on Thursday, July 17th. Finally, Citigroup dropped their price target on shares of Colgate-Palmolive from $108.00 to $105.00 and set a "buy" rating on the stock in a research note on Monday, August 4th. Seven analysts have rated the stock with a Buy rating, four have given a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus price target of $98.92.

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.