ProShare Advisors LLC Decreases Stake in Colgate-Palmolive (NYSE:CL)

ProShare Advisors LLC lowered its position in Colgate-Palmolive (NYSE:CLGet Rating) by 0.8% during the third quarter, HoldingsChannel reports. The firm owned 2,145,370 shares of the company’s stock after selling 17,776 shares during the period. ProShare Advisors LLC’s holdings in Colgate-Palmolive were worth $150,713,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in CL. Chevy Chase Trust Holdings LLC raised its holdings in shares of Colgate-Palmolive by 0.6% during the 3rd quarter. Chevy Chase Trust Holdings LLC now owns 522,264 shares of the company’s stock worth $36,689,000 after acquiring an additional 2,890 shares during the period. Vontobel Holding Ltd. raised its holdings in shares of Colgate-Palmolive by 34.8% during the 3rd quarter. Vontobel Holding Ltd. now owns 401,609 shares of the company’s stock worth $28,214,000 after acquiring an additional 103,625 shares during the period. ICW Investment Advisors LLC raised its holdings in shares of Colgate-Palmolive by 0.8% during the 3rd quarter. ICW Investment Advisors LLC now owns 18,098 shares of the company’s stock worth $1,271,000 after acquiring an additional 143 shares during the period. Tortoise Investment Management LLC raised its holdings in shares of Colgate-Palmolive by 33.1% during the 3rd quarter. Tortoise Investment Management LLC now owns 5,724 shares of the company’s stock worth $402,000 after acquiring an additional 1,424 shares during the period. Finally, Empirical Finance LLC increased its position in shares of Colgate-Palmolive by 19.3% during the 3rd quarter. Empirical Finance LLC now owns 20,590 shares of the company’s stock worth $1,446,000 after purchasing an additional 3,330 shares during the last quarter. Hedge funds and other institutional investors own 77.63% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts recently issued reports on the company. Credit Suisse Group cut their price objective on Colgate-Palmolive from $88.00 to $85.00 and set an “outperform” rating for the company in a research report on Tuesday, October 18th. Wells Fargo & Company raised their price objective on Colgate-Palmolive from $75.00 to $80.00 and gave the stock an “equal weight” rating in a research report on Tuesday, January 3rd. JPMorgan Chase & Co. raised their price objective on Colgate-Palmolive from $81.00 to $86.00 and gave the stock an “overweight” rating in a research report on Friday, January 13th. StockNews.com raised Colgate-Palmolive from a “hold” rating to a “buy” rating in a research report on Thursday, December 15th. Finally, Deutsche Bank Aktiengesellschaft lifted their target price on Colgate-Palmolive from $85.00 to $87.00 and gave the company a “buy” rating in a research report on Tuesday, December 6th. Eight investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat, Colgate-Palmolive has a consensus rating of “Hold” and an average target price of $83.58.

Colgate-Palmolive Stock Down 0.3 %

Shares of CL traded down $0.25 during midday trading on Wednesday, hitting $75.69. The company had a trading volume of 285,516 shares, compared to its average volume of 4,349,182. The company’s 50-day simple moving average is $77.74 and its 200-day simple moving average is $76.72. The company has a debt-to-equity ratio of 7.81, a quick ratio of 0.71 and a current ratio of 1.17. The firm has a market capitalization of $63.22 billion, a P/E ratio of 33.02, a P/E/G ratio of 6.62 and a beta of 0.51. Colgate-Palmolive has a 1 year low of $67.84 and a 1 year high of $83.81.

Colgate-Palmolive (NYSE:CLGet Rating) last announced its quarterly earnings data on Friday, October 28th. The company reported $0.74 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.74. The business had revenue of $4.46 billion during the quarter, compared to analysts’ expectations of $4.47 billion. Colgate-Palmolive had a return on equity of 304.29% and a net margin of 10.87%. The business’s quarterly revenue was up .9% compared to the same quarter last year. During the same quarter last year, the business posted $0.81 EPS. As a group, sell-side analysts expect that Colgate-Palmolive will post 2.97 EPS for the current year.

Colgate-Palmolive Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, February 14th. Investors of record on Monday, January 23rd will be paid a dividend of $0.47 per share. This represents a $1.88 annualized dividend and a yield of 2.48%. The ex-dividend date of this dividend is Friday, January 20th. Colgate-Palmolive’s payout ratio is 81.74%.

Colgate-Palmolive Profile

(Get Rating)

Colgate-Palmolive Co is engaged in the manufacturing and distribution of consumer products. It operates through Oral, Personal and Home Care and Pet Nutrition segments. The Oral, Personal and Home Care segment represents North America, Latin America, Europe, Asia Pacific, and Africa or Eurasia, all of which sell to a variety of retail and wholesale customers and distributors.

Further Reading

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Institutional Ownership by Quarter for Colgate-Palmolive (NYSE:CL)

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