Colgate-Palmolive Company (NYSE:CL) Shares Sold by Zurcher Kantonalbank Zurich Cantonalbank

Key Points

• Zurcher Kantonalbank reduced its stake in Colgate-Palmolive by 31.8%, selling 164,391 shares and ending the quarter with 352,413 shares valued at around $33 million.
• A number of institutional investors have increased their holdings in Colgate-Palmolive, with Deutsche Bank AG notably boosting its stake by 35.6%.
• The stock has faced a revised price target range by analysts, with recent adjustments leading to an average target of $100.77 and a consensus rating of "Hold."

Zurcher Kantonalbank Zurich Cantonalbank lessened its stake in Colgate-Palmolive Company (NYSE:CL - Free Report) by 31.8% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 352,413 shares of the company's stock after selling 164,391 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank's holdings in Colgate-Palmolive were worth $33,021,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Empirical Finance LLC grew its position in shares of Colgate-Palmolive by 1.8% during the 1st quarter. Empirical Finance LLC now owns 28,947 shares of the company's stock valued at $2,712,000 after acquiring an additional 500 shares during the period. Security Financial Services INC. boosted its position in Colgate-Palmolive by 8.8% during the first quarter. Security Financial Services INC. now owns 6,432 shares of the company's stock worth $603,000 after purchasing an additional 522 shares in the last quarter. Motco grew its holdings in Colgate-Palmolive by 4.8% in the first quarter. Motco now owns 4,089 shares of the company's stock valued at $383,000 after purchasing an additional 188 shares during the period. HB Wealth Management LLC increased its position in shares of Colgate-Palmolive by 5.6% in the first quarter. HB Wealth Management LLC now owns 75,772 shares of the company's stock valued at $7,100,000 after buying an additional 4,001 shares in the last quarter. Finally, Mediolanum International Funds Ltd increased its position in shares of Colgate-Palmolive by 73.9% in the first quarter. Mediolanum International Funds Ltd now owns 347,549 shares of the company's stock valued at $32,259,000 after buying an additional 147,696 shares in the last quarter. Institutional investors and hedge funds own 80.41% of the company's stock.

Colgate-Palmolive Price Performance

Shares of Colgate-Palmolive stock traded down $1.48 on Monday, hitting $86.45. 4,821,224 shares of the company were exchanged, compared to its average volume of 4,373,016. The company has a quick ratio of 0.54, a current ratio of 0.85 and a debt-to-equity ratio of 8.96. The company has a 50-day moving average price of $90.13 and a 200 day moving average price of $90.39. The stock has a market capitalization of $70.06 billion, a price-to-earnings ratio of 24.42, a price-to-earnings-growth ratio of 4.53 and a beta of 0.37. Colgate-Palmolive Company has a 1-year low of $85.32 and a 1-year high of $109.30.

Colgate-Palmolive (NYSE:CL - Get Free Report) last released its quarterly earnings data 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. Colgate-Palmolive had a return on equity of 461.04% and a net margin of 14.52%. The company had revenue of $4.91 billion for the quarter, compared to analyst estimates of $4.92 billion. During the same quarter in the previous year, the company posted $0.86 earnings per share. The firm's revenue for the quarter was down 3.0% compared to the same quarter last year. As a group, sell-side analysts predict that Colgate-Palmolive Company will post 3.75 earnings per share for the current fiscal year.

Colgate-Palmolive Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, August 15th. Investors of record on Friday, July 18th will be issued a $0.52 dividend. This represents a $2.08 dividend on an annualized basis and a dividend yield of 2.41%. The ex-dividend date is Friday, July 18th. Colgate-Palmolive's dividend payout ratio is currently 58.76%.

Analyst Upgrades and Downgrades

A number of research firms recently issued reports on CL. Citigroup lifted their price target on shares of Colgate-Palmolive from $103.00 to $108.00 and gave the company a "buy" rating in a research note on Monday, April 28th. UBS Group dropped 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. Piper Sandler reduced their price target on shares of Colgate-Palmolive from $108.00 to $107.00 and set an "overweight" rating for the company in a research report on Monday, March 31st. JPMorgan Chase & Co. lowered their price objective on Colgate-Palmolive from $103.00 to $99.00 and set an "overweight" rating on the stock in a report on Friday. Finally, Barclays boosted their price objective 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. One investment analyst has rated the stock with a sell rating, seven have given a hold rating and seven have given a buy rating to the company. Based on data from MarketBeat.com, Colgate-Palmolive has an average rating of "Hold" and a consensus target price of $100.77.

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.