Colgate-Palmolive (NYSE:CL) Shares Sold by Louisiana State Employees Retirement System

Louisiana State Employees Retirement System cut its holdings in shares of Colgate-Palmolive (NYSE:CL) by 4.6% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 43,900 shares of the company’s stock after selling 2,100 shares during the period. Louisiana State Employees Retirement System’s holdings in Colgate-Palmolive were worth $3,991,000 at the end of the most recent quarter.

Several other hedge funds also recently added to or reduced their stakes in CL. Union Bancaire Privee UBP SA acquired a new position in Colgate-Palmolive during the 4th quarter valued at about $32,000. Hager Investment Management Services LLC acquired a new position in shares of Colgate-Palmolive during the fourth quarter valued at about $36,000. Reston Wealth Management LLC acquired a new position in shares of Colgate-Palmolive during the third quarter valued at about $42,000. Synergy Asset Management LLC acquired a new position in Colgate-Palmolive during the 4th quarter valued at approximately $49,000. Finally, Capital Performance Advisors LLP acquired a new position in Colgate-Palmolive during the 3rd quarter valued at approximately $53,000. 80.41% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

CL has been the topic of a number of recent analyst reports. Raymond James restated an “outperform” rating and set a $105.00 price target (down previously from $110.00) on shares of Colgate-Palmolive in a research note on Monday, February 3rd. Wells Fargo & Company cut their target price on Colgate-Palmolive from $92.00 to $83.00 and set an “underweight” rating on the stock in a research report on Tuesday, January 7th. Piper Sandler cut their price objective on Colgate-Palmolive from $121.00 to $112.00 and set an “overweight” rating on the stock in a report on Monday, January 6th. TD Cowen cut their price objective on Colgate-Palmolive from $110.00 to $100.00 and set a “buy” rating on the stock in a report on Wednesday, January 8th. Finally, Stifel Nicolaus cut their price target on shares of Colgate-Palmolive from $95.00 to $93.00 and set a “hold” rating on the stock in a report on Monday, February 3rd. One 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, the stock presently has an average rating of “Hold” and a consensus target price of $101.16.

Colgate-Palmolive Stock Down 0.7 %

Shares of CL opened at $86.75 on Thursday. The company has a debt-to-equity ratio of 9.46, a quick ratio of 0.26 and a current ratio of 0.41. Colgate-Palmolive has a one year low of $82.76 and a one year high of $109.30. The stock has a market capitalization of $70.88 billion, a price-to-earnings ratio of 24.64, a PEG ratio of 4.12 and a beta of 0.44. The stock has a 50 day moving average price of $90.00 and a 200 day moving average price of $96.61.

Colgate-Palmolive (NYSE:CL) last announced its quarterly earnings data on Friday, January 31st. The company reported $0.91 earnings per share (EPS) for the quarter, beating the consensus estimate 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 quarter in the previous year, the firm posted $0.87 earnings per share. Equities research analysts forecast that Colgate-Palmolive will post 3.73 earnings per share for the current fiscal year.

Colgate-Palmolive Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, February 14th. Stockholders of record on Tuesday, January 21st will be paid a $0.50 dividend. This represents a $2.00 annualized dividend and a dividend yield of 2.31%. The ex-dividend date is Tuesday, January 21st. Colgate-Palmolive’s dividend payout ratio (DPR) is presently 56.82%.

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.