Retirement Systems of Alabama Cuts Stock Position in Colgate-Palmolive (NYSE:CL)

Retirement Systems of Alabama decreased its stake in shares of Colgate-Palmolive (NYSE:CL) by 0.6% in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 176,892 shares of the company’s stock after selling 1,095 shares during the quarter. Retirement Systems of Alabama’s holdings in Colgate-Palmolive were worth $16,081,000 at the end of the most recent quarter.

A number of other institutional investors have also recently made changes to their positions in the company. Union Bancaire Privee UBP SA purchased a new position in Colgate-Palmolive during the 4th quarter valued at $32,000. Reston Wealth Management LLC bought a new stake in shares of Colgate-Palmolive during the third quarter worth $42,000. Capital Performance Advisors LLP purchased a new stake in shares of Colgate-Palmolive during the third quarter valued at $53,000. Synergy Asset Management LLC bought a new position in shares of Colgate-Palmolive in the fourth quarter worth about $49,000. Finally, Prospera Private Wealth LLC purchased a new position in Colgate-Palmolive in the 3rd quarter worth about $64,000. Hedge funds and other institutional investors own 80.41% of the company’s stock.

Colgate-Palmolive Trading Down 1.2 %

Shares of Colgate-Palmolive stock opened at $85.60 on Friday. Colgate-Palmolive has a fifty-two week low of $82.68 and a fifty-two week high of $109.30. The company has a debt-to-equity ratio of 9.46, a quick ratio of 0.26 and a current ratio of 0.41. The firm has a market capitalization of $69.94 billion, a price-to-earnings ratio of 24.32, a PEG ratio of 3.61 and a beta of 0.44. The stock has a 50 day moving average of $90.78 and a 200 day moving average of $96.92.

Colgate-Palmolive (NYSE:CL) last posted its earnings results on Friday, January 31st. The company reported $0.91 EPS for the quarter, beating analysts’ consensus estimates of $0.90 by $0.01. Colgate-Palmolive had a net margin of 14.38% and a return on equity of 477.77%. During the same period in the previous year, the company earned $0.87 EPS. As a group, research analysts predict that Colgate-Palmolive will post 3.74 earnings per share for the current year.

Colgate-Palmolive Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, February 14th. Shareholders of record on Tuesday, January 21st will be paid a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a yield of 2.34%. The ex-dividend date is Tuesday, January 21st. Colgate-Palmolive’s dividend payout ratio (DPR) is 56.82%.

Analysts Set New Price Targets

A number of equities analysts have commented on the stock. Morgan Stanley dropped their target price on shares of Colgate-Palmolive from $111.00 to $104.00 and set an “overweight” rating on the stock in a research note on Monday. Royal Bank of Canada restated a “sector perform” rating and set a $101.00 price objective on shares of Colgate-Palmolive in a report on Wednesday, January 29th. Stifel Nicolaus lowered their target price on Colgate-Palmolive from $95.00 to $93.00 and set a “hold” rating for the company in a report on Monday. StockNews.com lowered Colgate-Palmolive from a “buy” rating to a “hold” rating in a research note on Thursday, January 9th. Finally, Piper Sandler dropped their target price on shares of Colgate-Palmolive from $121.00 to $112.00 and set an “overweight” rating on the stock in a report on Monday, January 6th. One equities research analyst has rated the stock with a sell rating, ten have given a hold rating and twelve have issued a buy rating to the company’s stock. According to MarketBeat.com, Colgate-Palmolive currently has a consensus rating of “Hold” and an average target price of $101.16.

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.