Evelyn Partners Investment Management Services Ltd Trims Position in Colgate-Palmolive Company $CL

Evelyn Partners Investment Management Services Ltd decreased its position in shares of Colgate-Palmolive Company (NYSE:CL) by 88.5% during the 1st quarter, HoldingsChannel reports. The fund owned 10,418 shares of the company’s stock after selling 79,794 shares during the quarter. Evelyn Partners Investment Management Services Ltd’s holdings in Colgate-Palmolive were worth $888,000 at the end of the most recent quarter.

A number of other hedge funds have also recently modified their holdings of the company. Vanguard Group Inc. increased its position in Colgate-Palmolive by 1.2% during the fourth quarter. Vanguard Group Inc. now owns 83,947,987 shares of the company’s stock worth $6,633,570,000 after purchasing an additional 1,026,985 shares during the last quarter. Geode Capital Management LLC increased its holdings in shares of Colgate-Palmolive by 1.4% during the 4th quarter. Geode Capital Management LLC now owns 22,103,901 shares of the company’s stock worth $1,754,657,000 after buying an additional 304,426 shares during the last quarter. Morgan Stanley increased its holdings in shares of Colgate-Palmolive by 1.7% during the 4th quarter. Morgan Stanley now owns 19,246,217 shares of the company’s stock worth $1,520,836,000 after buying an additional 323,367 shares during the last quarter. Bank of New York Mellon Corp raised its position in shares of Colgate-Palmolive by 172.5% during the 1st quarter. Bank of New York Mellon Corp now owns 12,521,545 shares of the company’s stock valued at $1,067,211,000 after buying an additional 7,927,238 shares during the period. Finally, Norges Bank acquired a new position in Colgate-Palmolive in the fourth quarter valued at approximately $861,670,000. Hedge funds and other institutional investors own 80.41% of the company’s stock.

Colgate-Palmolive Price Performance

Colgate-Palmolive stock opened at $92.00 on Tuesday. The company has a quick ratio of 0.67, a current ratio of 1.02 and a debt-to-equity ratio of 16.33. Colgate-Palmolive Company has a 52-week low of $74.54 and a 52-week high of $99.33. The firm has a market cap of $73.62 billion, a PE ratio of 35.80, a price-to-earnings-growth ratio of 4.78 and a beta of 0.33. The company’s 50 day moving average is $90.82 and its two-hundred day moving average is $89.15.

Colgate-Palmolive (NYSE:CL) last posted its quarterly earnings results on Friday, May 1st. The company reported $0.97 EPS for the quarter, topping the consensus estimate of $0.94 by $0.03. The business had revenue of $5.32 billion during the quarter, compared to the consensus estimate of $5.22 billion. Colgate-Palmolive had a net margin of 10.04% and a return on equity of 386.76%. The company’s quarterly revenue was up 8.4% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.91 earnings per share. On average, research analysts expect that Colgate-Palmolive Company will post 3.81 EPS for the current fiscal year.

Colgate-Palmolive Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, August 14th. Shareholders of record on Monday, July 20th will be given a $0.53 dividend. The ex-dividend date of this dividend is Monday, July 20th. This represents a $2.12 dividend on an annualized basis and a yield of 2.3%. Colgate-Palmolive’s dividend payout ratio (DPR) is currently 82.49%.

Wall Street Analyst Weigh In

Several research analysts recently weighed in on the company. UBS Group increased their price objective on Colgate-Palmolive from $100.00 to $106.00 and gave the stock a “buy” rating in a research report on Thursday, July 16th. Royal Bank Of Canada reiterated an “outperform” rating and set a $102.00 price target on shares of Colgate-Palmolive in a report on Monday, May 4th. TD Cowen restated a “hold” rating and issued a $85.00 price objective on shares of Colgate-Palmolive in a report on Tuesday, March 31st. Barclays lifted their price target on shares of Colgate-Palmolive from $80.00 to $87.00 and gave the company an “equal weight” rating in a research report on Tuesday, July 21st. Finally, Deutsche Bank Aktiengesellschaft restated a “buy” rating and issued a $99.00 price objective on shares of Colgate-Palmolive in a report on Monday, May 4th. Twelve research analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $97.82.

Colgate-Palmolive Company Profile

Colgate-Palmolive Company is a global consumer products company with a long history in household and personal care categories. The business traces its roots to the early 19th century and has evolved into a multinational manufacturer and marketer of everyday consumer goods focused on health, hygiene and home care.

The company’s core activities center on oral care, personal care, home care and pet nutrition. Its product portfolio includes toothpaste, toothbrushes and mouthwash in oral care; soaps, body washes and deodorants in personal care; dishwashing liquids, surface cleaners and other household products in home care; and scientifically formulated pet foods under its pet nutrition business.