Pinnacle Associates Ltd. Lowers Position in Colgate-Palmolive Company $CL

Pinnacle Associates Ltd. lessened its holdings in Colgate-Palmolive Company (NYSE:CL) by 5.5% during the second quarter, Holdings Channel.com reports. The institutional investor owned 75,703 shares of the company’s stock after selling 4,410 shares during the quarter. Pinnacle Associates Ltd.’s holdings in Colgate-Palmolive were worth $6,881,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also recently modified their holdings of CL. Brighton Jones LLC boosted its stake in shares of Colgate-Palmolive by 4.4% in the 4th quarter. Brighton Jones LLC now owns 10,578 shares of the company’s stock worth $962,000 after buying an additional 450 shares during the last quarter. DAVENPORT & Co LLC boosted its stake in shares of Colgate-Palmolive by 1.4% in the 1st quarter. DAVENPORT & Co LLC now owns 43,744 shares of the company’s stock worth $4,099,000 after buying an additional 608 shares during the last quarter. D.A. Davidson & CO. boosted its stake in shares of Colgate-Palmolive by 7.6% in the 1st quarter. D.A. Davidson & CO. now owns 112,091 shares of the company’s stock worth $10,503,000 after buying an additional 7,886 shares during the last quarter. Checchi Capital Advisers LLC boosted its stake in shares of Colgate-Palmolive by 2.7% in the 1st quarter. Checchi Capital Advisers LLC now owns 8,109 shares of the company’s stock worth $760,000 after buying an additional 216 shares during the last quarter. Finally, Calamos Advisors LLC boosted its stake in shares of Colgate-Palmolive by 0.8% in the 1st quarter. Calamos Advisors LLC now owns 304,921 shares of the company’s stock worth $28,571,000 after buying an additional 2,273 shares during the last quarter. Hedge funds and other institutional investors own 80.41% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts have recently weighed in on CL shares. JPMorgan Chase & Co. cut their target price on Colgate-Palmolive from $95.00 to $88.00 and set an “overweight” rating on the stock in a research note on Friday, October 10th. The Goldman Sachs Group dropped their price objective on Colgate-Palmolive from $106.00 to $91.00 and set a “buy” rating on the stock in a research note on Thursday, October 2nd. Deutsche Bank Aktiengesellschaft set a $86.00 price objective on Colgate-Palmolive in a research note on Friday, October 10th. Raymond James Financial dropped their price objective on Colgate-Palmolive from $105.00 to $95.00 and set an “outperform” rating on the stock in a research note on Monday, October 20th. Finally, Weiss Ratings reiterated a “hold (c)” rating on shares of Colgate-Palmolive in a research note on Wednesday, October 8th. Eight investment analysts have rated the stock with a Buy rating, five have given a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $91.50.

Colgate-Palmolive Trading Up 0.8%

NYSE:CL opened at $77.10 on Friday. The company has a market cap of $62.32 billion, a P/E ratio of 21.66, a P/E/G ratio of 4.44 and a beta of 0.34. The stock’s fifty day moving average price is $80.45 and its two-hundred day moving average price is $86.39. Colgate-Palmolive Company has a 1 year low of $74.62 and a 1 year high of $100.18. The company has a debt-to-equity ratio of 6.79, a current ratio of 0.89 and a quick ratio of 0.57.

Colgate-Palmolive (NYSE:CL) last posted its earnings results on Friday, October 31st. The company reported $0.91 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.89 by $0.02. The firm had revenue of $5.13 billion for the quarter, compared to the consensus estimate of $5.17 billion. Colgate-Palmolive had a return on equity of 377.63% and a net margin of 14.55%.The business’s quarterly revenue was up 1.9% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.91 earnings per share. As a group, analysts expect that Colgate-Palmolive Company will post 3.75 EPS for the current year.

Colgate-Palmolive Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, November 14th. Shareholders of record on Friday, October 17th will be given a dividend of $0.52 per share. The ex-dividend date is Friday, October 17th. This represents a $2.08 annualized dividend and a dividend yield of 2.7%. Colgate-Palmolive’s dividend payout ratio is currently 58.43%.

Colgate-Palmolive 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.