Vicus Capital Has $5.02 Million Position in Colgate-Palmolive Company $CL

Key Points

• Vicus Capital reduced its stake in Colgate-Palmolive by 16.2% in the second quarter, owning 55,192 shares worth approximately $5.02 million as per its latest SEC filing.
• Several analysts have downgraded Colgate-Palmolive's price targets, with Barclays lowering it from $87.00 to $82.00, while UBS cut its target from $109.00 to $106.00.
• Colgate-Palmolive recently announced a quarterly dividend of $0.52, which will be paid on November 14th, reflecting an annual yield of 2.6%.

Vicus Capital lowered its stake in shares of Colgate-Palmolive Company (NYSE:CL - Free Report) by 16.2% in the second quarter, according to its most recent disclosure with the SEC. The fund owned 55,192 shares of the company's stock after selling 10,677 shares during the period. Vicus Capital's holdings in Colgate-Palmolive were worth $5,017,000 as of its most recent filing with the SEC.

A number of other large investors have also made changes to their positions in CL. Westend Capital Management LLC increased its stake in Colgate-Palmolive by 111.1% in the first quarter. Westend Capital Management LLC now owns 266 shares of the company's stock valued at $25,000 after acquiring an additional 140 shares during the period. Cornerstone Planning Group LLC increased its stake in Colgate-Palmolive by 1,913.3% in the first quarter. Cornerstone Planning Group LLC now owns 302 shares of the company's stock valued at $28,000 after acquiring an additional 287 shares during the period. Saudi Central Bank bought a new stake in Colgate-Palmolive in the first quarter valued at about $29,000. Ransom Advisory Ltd bought a new stake in Colgate-Palmolive in the first quarter valued at about $33,000. Finally, Harel Insurance Investments & Financial Services Ltd. bought a new stake in Colgate-Palmolive in the first quarter valued at about $37,000. Institutional investors and hedge funds own 80.41% of the company's stock.

Analyst Upgrades and Downgrades

Several analysts have weighed in on CL shares. Barclays decreased their price objective on shares of Colgate-Palmolive from $87.00 to $82.00 and set an "equal weight" rating on the stock in a research note on Wednesday. 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 research note on Monday, August 4th. Wells Fargo & Company decreased their price objective on shares of Colgate-Palmolive from $83.00 to $80.00 and set an "underweight" rating on the stock in a research note on Thursday, September 25th. Citigroup decreased 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 note on Monday, August 4th. Finally, UBS Group decreased their price objective 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. Seven research analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has assigned a Sell rating to the company's stock. According to data from MarketBeat, Colgate-Palmolive has an average rating of "Moderate Buy" and a consensus price target of $97.27.

Colgate-Palmolive Price Performance

CL opened at $78.95 on Thursday. Colgate-Palmolive Company has a one year low of $78.76 and a one year high of $102.61. The company has a debt-to-equity ratio of 6.79, a current ratio of 0.89 and a quick ratio of 0.57. The company's 50 day simple moving average is $83.69 and its 200-day simple moving average is $88.50. The stock has a market capitalization of $63.81 billion, a P/E ratio of 22.18, a price-to-earnings-growth ratio of 4.16 and a beta of 0.34.

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 the consensus estimate of $0.89 by $0.03. Colgate-Palmolive had a net margin of 14.55% and a return on equity of 377.63%. The business had revenue of $5.11 billion for the quarter, compared to analysts' expectations of $5.03 billion. During the same period in the prior year, the firm earned $0.91 earnings per share. Colgate-Palmolive's revenue was up 1.0% compared to the same quarter last year. 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 firm also recently disclosed a quarterly dividend, which will be paid on Friday, November 14th. Investors of record on Friday, October 17th will be issued a $0.52 dividend. This represents a $2.08 annualized dividend and a yield of 2.6%. The ex-dividend date is Friday, October 17th. Colgate-Palmolive's dividend payout ratio is currently 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.

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