State of Alaska Department of Revenue Sells 4,180 Shares of Colgate-Palmolive Company $CL

Key Points

• The State of Alaska Department of Revenue sold 4,180 shares of Colgate-Palmolive, reducing its holdings by 3.3%, leaving it with 120,907 shares valued at approximately $10.99 million.
• Colgate-Palmolive announced a quarterly dividend of $0.52, set to be paid on November 14th, with an annualized yield of 2.6% and a payout ratio of 58.43%.
• Recent quarterly earnings showed Colgate-Palmolive beating analyst expectations with an EPS of $0.92 and a revenue increase of 1.0% year-over-year, totaling $5.11 billion.

State of Alaska Department of Revenue decreased its holdings in Colgate-Palmolive Company (NYSE:CL - Free Report) by 3.3% in the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 120,907 shares of the company's stock after selling 4,180 shares during the period. State of Alaska Department of Revenue's holdings in Colgate-Palmolive were worth $10,990,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Personal CFO Solutions LLC purchased a new stake in Colgate-Palmolive in the first quarter valued at approximately $285,000. Vision Capital Management Inc. bought a new stake in shares of Colgate-Palmolive during the 1st quarter valued at about $322,000. Autumn Glory Partners LLC lifted its stake in Colgate-Palmolive by 67.4% during the first quarter. Autumn Glory Partners LLC now owns 8,905 shares of the company's stock valued at $851,000 after purchasing an additional 3,586 shares during the last quarter. Financial Gravity Asset Management Inc. acquired a new position in shares of Colgate-Palmolive during the 1st quarter worth $2,166,000. Finally, Penserra Capital Management LLC grew its position in Colgate-Palmolive by 398.6% in the 1st quarter. Penserra Capital Management LLC now owns 10,651 shares of the company's stock worth $997,000 after purchasing an additional 8,515 shares during the last quarter. Hedge funds and other institutional investors own 80.41% of the company's stock.

Colgate-Palmolive Trading Down 0.2%

Shares of NYSE:CL opened at $79.57 on Friday. The stock has a market capitalization of $64.31 billion, a price-to-earnings ratio of 22.35, a PEG ratio of 4.14 and a beta of 0.35. The company has a 50 day moving average price of $84.19 and a 200 day moving average price of $88.70. 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 1-year low of $78.76 and a 1-year high of $104.16.

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

Colgate-Palmolive Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, November 14th. Investors 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 58.43%.

Analyst Ratings Changes

A number of brokerages have recently commented on CL. Citigroup cut their price objective on shares of Colgate-Palmolive from $108.00 to $105.00 and set a "buy" rating on the stock in a research report on Monday, August 4th. Wells Fargo & Company cut their target price on Colgate-Palmolive from $83.00 to $80.00 and set an "underweight" rating for the company in a research note on Thursday. JPMorgan Chase & Co. reduced their price objective on Colgate-Palmolive from $99.00 to $95.00 and set an "overweight" rating for the company in a report on Monday, August 4th. Morgan Stanley dropped their target price 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 boosted 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. Seven analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has assigned a Sell rating to the company's stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average price target of $97.73.

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.

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