Strategy Asset Managers LLC Reduces Position in Colgate-Palmolive Company (NYSE:CL)

Key Points

• Strategy Asset Managers LLC significantly reduced its stake in Colgate-Palmolive by 53.5%, holding 4,483 shares valued at approximately $420,000 after selling 5,155 shares in the first quarter.
• Several institutional investors, including Goldman Sachs and Deutsche Bank, increased their positions in Colgate-Palmolive, indicating a strong interest in the company despite fluctuations in holdings.
• Colgate-Palmolive reported earnings of $0.92 per share for the last quarter, exceeding analysts' expectations of $0.89, alongside a revenue of $5.11 billion.

Strategy Asset Managers LLC lessened its holdings in shares of Colgate-Palmolive Company (NYSE:CL - Free Report) by 53.5% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 4,483 shares of the company's stock after selling 5,155 shares during the period. Strategy Asset Managers LLC's holdings in Colgate-Palmolive were worth $420,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of the business. Goldman Sachs Group Inc. boosted its holdings in Colgate-Palmolive by 34.5% in the 1st quarter. Goldman Sachs Group Inc. now owns 7,980,387 shares of the company's stock valued at $747,762,000 after purchasing an additional 2,045,191 shares during the last quarter. Deutsche Bank AG boosted its holdings in 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 purchasing an additional 1,816,865 shares during the last quarter. Diamond Hill Capital Management Inc. boosted its holdings in 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 purchasing an additional 1,727,105 shares during the last quarter. Castlekeep Investment Advisors LLC acquired a new position in Colgate-Palmolive in the 4th quarter valued at about $111,738,000. Finally, GAMMA Investing LLC boosted its holdings in 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 purchasing an additional 1,095,050 shares during the last quarter. Hedge funds and other institutional investors own 80.41% of the company's stock.

Analyst Ratings Changes

Several equities analysts have weighed in on the stock. UBS Group decreased their target price on shares of Colgate-Palmolive from $109.00 to $106.00 and set a "buy" rating on the stock in a report on Thursday, July 17th. Morgan Stanley set a $96.00 price objective on shares of Colgate-Palmolive and gave the stock an "overweight" rating in a report on Monday. JPMorgan Chase & Co. decreased their price objective on shares of Colgate-Palmolive from $99.00 to $95.00 and set an "overweight" rating on the stock in a report on Monday. Wall Street Zen lowered shares of Colgate-Palmolive from a "buy" rating to a "hold" rating in a report on Wednesday, May 7th. Finally, Wells Fargo & Company decreased their price objective on shares of Colgate-Palmolive from $88.00 to $83.00 and set an "underweight" rating on the stock in a report 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 stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Hold" and a consensus price target of $98.92.

Colgate-Palmolive Price Performance

Colgate-Palmolive stock opened at $84.58 on Thursday. The firm has a market cap of $68.36 billion, a PE ratio of 23.76, a price-to-earnings-growth ratio of 4.32 and a beta of 0.35. Colgate-Palmolive Company has a 52-week low of $82.40 and a 52-week high of $109.30. The company has a quick ratio of 0.28, a current ratio of 0.89 and a debt-to-equity ratio of 6.79. The company's 50 day moving average is $89.07 and its two-hundred day moving average is $90.18.

Colgate-Palmolive (NYSE:CL - Get Free Report) last released its earnings results 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 company had revenue of $5.11 billion for 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%. The firm's quarterly revenue was up 1.0% on a year-over-year basis. During the same period in the prior year, the business earned $0.91 EPS. On average, research analysts expect that Colgate-Palmolive Company will post 3.75 EPS for the current fiscal year.

Colgate-Palmolive Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, August 15th. Shareholders of record on Friday, July 18th will be issued a dividend of $0.52 per share. The ex-dividend date is 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 58.43%.

Colgate-Palmolive Company 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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