Zevin Asset Management LLC Reduces Position in Colgate-Palmolive Company (NYSE:CL)

Zevin Asset Management LLC cut its stake in shares of Colgate-Palmolive Company (NYSE:CL - Free Report) by 7.7% in the first quarter, according to its most recent disclosure with the SEC. The firm owned 128,573 shares of the company's stock after selling 10,729 shares during the period. Colgate-Palmolive comprises about 1.9% of Zevin Asset Management LLC's holdings, making the stock its 23rd biggest holding. Zevin Asset Management LLC's holdings in Colgate-Palmolive were worth $12,047,000 as of its most recent filing with the SEC.

A number of other large investors also recently added to or reduced their stakes in CL. Norges Bank acquired a new stake in Colgate-Palmolive in the fourth quarter valued at approximately $912,375,000. Deutsche Bank AG raised its holdings in Colgate-Palmolive by 35.6% in the fourth quarter. Deutsche Bank AG now owns 6,922,994 shares of the company's stock valued at $629,369,000 after acquiring an additional 1,816,865 shares in the last quarter. Castlekeep Investment Advisors LLC acquired a new stake in Colgate-Palmolive in the fourth quarter valued at approximately $111,738,000. Renaissance Technologies LLC raised its holdings in Colgate-Palmolive by 70.2% in the fourth quarter. Renaissance Technologies LLC now owns 2,808,110 shares of the company's stock valued at $255,285,000 after acquiring an additional 1,158,060 shares in the last quarter. Finally, GAMMA Investing LLC raised its holdings in Colgate-Palmolive by 10,601.7% in the first quarter. GAMMA Investing LLC now owns 1,105,379 shares of the company's stock valued at $103,574,000 after acquiring an additional 1,095,050 shares in the last quarter. 80.41% of the stock is currently owned by institutional investors and hedge funds.

Colgate-Palmolive Stock Performance

CL traded up $1.47 during midday trading on Tuesday, reaching $88.11. The company's stock had a trading volume of 2,081,482 shares, compared to its average volume of 4,853,944. The stock has a market cap of $71.41 billion, a P/E ratio of 24.89, a PEG ratio of 4.59 and a beta of 0.37. The company has a fifty day simple moving average of $90.34 and a 200 day simple moving average of $90.38. The company has a current ratio of 0.85, a quick ratio of 0.54 and a debt-to-equity ratio of 8.96. Colgate-Palmolive Company has a twelve month low of $85.32 and a twelve month high of $109.30.

Colgate-Palmolive (NYSE:CL - Get Free Report) last released its earnings results on Friday, April 25th. The company reported $0.91 earnings per share for the quarter, topping analysts' consensus estimates of $0.86 by $0.05. The company had revenue of $4.91 billion during the quarter, compared to the consensus estimate of $4.92 billion. Colgate-Palmolive had a return on equity of 461.04% and a net margin of 14.52%. The firm's quarterly revenue was down 3.0% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.86 earnings per share. Research analysts expect that Colgate-Palmolive Company will post 3.75 earnings per share for the current year.

Colgate-Palmolive Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, August 15th. Stockholders of record on Friday, July 18th will be given a $0.52 dividend. This represents a $2.08 annualized dividend and a dividend yield of 2.36%. The ex-dividend date is Friday, July 18th. Colgate-Palmolive's payout ratio is 58.76%.

Wall Street Analyst Weigh In

A number of equities analysts recently weighed in on the stock. Citigroup lifted their price objective on shares of Colgate-Palmolive from $103.00 to $108.00 and gave the company a "buy" rating in a research report on Monday, April 28th. 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 research report on Thursday, July 17th. Barclays lifted their price target on Colgate-Palmolive from $86.00 to $87.00 and gave the stock an "equal weight" rating in a research note on Tuesday, July 15th. Wall Street Zen downgraded shares of Colgate-Palmolive from a "buy" rating to a "hold" rating in a research note on Wednesday, May 7th. Finally, Wells Fargo & Company boosted their target price on shares of Colgate-Palmolive from $83.00 to $88.00 and gave the company an "underweight" rating in a research note on Wednesday, April 2nd. One research analyst has rated the stock with a sell rating, ten have given a hold rating and seven have assigned a buy rating to the stock. According to data from MarketBeat, Colgate-Palmolive currently has a consensus rating of "Hold" and a consensus target price of $100.64.

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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