Colgate-Palmolive Company $CL Shares Sold by Clearbridge Investments LLC

Clearbridge Investments LLC trimmed its holdings in Colgate-Palmolive Company (NYSE:CL) by 47.2% in the fourth quarter, Holdings Channel.com reports. The fund owned 385,024 shares of the company’s stock after selling 344,553 shares during the period. Clearbridge Investments LLC’s holdings in Colgate-Palmolive were worth $30,425,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently bought and sold shares of the company. CBIZ Investment Advisory Services LLC lifted its holdings in Colgate-Palmolive by 86.7% in the 4th quarter. CBIZ Investment Advisory Services LLC now owns 323 shares of the company’s stock valued at $26,000 after acquiring an additional 150 shares during the last quarter. Maseco LLP acquired a new stake in Colgate-Palmolive in the 4th quarter valued at about $27,000. Global Wealth Strategies & Associates lifted its holdings in Colgate-Palmolive by 300.0% in the 4th quarter. Global Wealth Strategies & Associates now owns 400 shares of the company’s stock valued at $32,000 after acquiring an additional 300 shares during the last quarter. Grove Bank & Trust lifted its holdings in Colgate-Palmolive by 182.6% in the 4th quarter. Grove Bank & Trust now owns 407 shares of the company’s stock valued at $32,000 after acquiring an additional 263 shares during the last quarter. Finally, Camelot Portfolios LLC acquired a new stake in Colgate-Palmolive in the 4th quarter valued at about $32,000. 80.41% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on CL shares. The Goldman Sachs Group reissued a “buy” rating on shares of Colgate-Palmolive in a report on Friday, May 1st. JPMorgan Chase & Co. upped their price objective on shares of Colgate-Palmolive from $95.00 to $96.00 and gave the company an “overweight” rating in a research note on Monday, May 4th. Weiss Ratings raised shares of Colgate-Palmolive from a “hold (c)” rating to a “hold (c+)” rating in a research note on Monday, May 4th. Wells Fargo & Company reduced their price objective on shares of Colgate-Palmolive from $100.00 to $92.00 and set an “equal weight” rating for the company in a research note on Wednesday, April 8th. Finally, Rothschild & Co Redburn set a $100.00 price objective on shares of Colgate-Palmolive and gave the company a “buy” rating in a research note on Tuesday, April 21st. Twelve research analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $95.88.

Colgate-Palmolive Price Performance

NYSE CL opened at $87.74 on Wednesday. The company has a 50 day simple moving average of $86.60 and a 200-day simple moving average of $86.09. The company has a debt-to-equity ratio of 16.33, a current ratio of 1.02 and a quick ratio of 0.67. The firm has a market capitalization of $70.21 billion, a price-to-earnings ratio of 34.14, a price-to-earnings-growth ratio of 4.47 and a beta of 0.33. Colgate-Palmolive Company has a 52-week low of $74.54 and a 52-week high of $99.33.

Colgate-Palmolive (NYSE:CL) last posted its quarterly earnings results on Friday, May 1st. The company reported $0.97 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.94 by $0.03. The business had revenue of $5.32 billion during the quarter, compared to analyst estimates of $5.22 billion. Colgate-Palmolive had a net margin of 10.04% and a return on equity of 386.76%. The firm’s revenue was up 8.4% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.91 earnings per share. Equities research analysts predict that Colgate-Palmolive Company will post 3.82 earnings per share for the current fiscal year.

Colgate-Palmolive Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, May 15th. Stockholders of record on Monday, April 20th were given a $0.53 dividend. This represents a $2.12 dividend on an annualized basis and a dividend yield of 2.4%. This is a positive change from Colgate-Palmolive’s previous quarterly dividend of $0.52. The ex-dividend date of this dividend was Monday, April 20th. Colgate-Palmolive’s payout ratio is currently 82.49%.

About Colgate-Palmolive

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.