Acadian Asset Management LLC Has $401.42 Million Stake in Colgate-Palmolive Company $CL

Acadian Asset Management LLC trimmed its position in shares of Colgate-Palmolive Company (NYSE:CL) by 17.8% during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 4,284,494 shares of the company’s stock after selling 929,557 shares during the quarter. Colgate-Palmolive accounts for 1.1% of Acadian Asset Management LLC’s investment portfolio, making the stock its 21st largest holding. Acadian Asset Management LLC’s holdings in Colgate-Palmolive were worth $401,421,000 at the end of the most recent quarter.

Other institutional investors also recently modified their holdings of the company. Geneos Wealth Management Inc. raised its stake in shares of Colgate-Palmolive by 25.8% in the first quarter. Geneos Wealth Management Inc. now owns 5,320 shares of the company’s stock worth $499,000 after purchasing an additional 1,092 shares during the last quarter. IFM Investors Pty Ltd grew its stake in shares of Colgate-Palmolive by 0.3% during the 1st quarter. IFM Investors Pty Ltd now owns 159,409 shares of the company’s stock worth $14,937,000 after acquiring an additional 439 shares during the period. Blue Rock Wealth Management LLC bought a new position in shares of Colgate-Palmolive during the 1st quarter worth $526,000. Belpointe Asset Management LLC grew its stake in shares of Colgate-Palmolive by 49.7% during the 1st quarter. Belpointe Asset Management LLC now owns 11,447 shares of the company’s stock worth $1,073,000 after acquiring an additional 3,798 shares during the period. Finally, Intech Investment Management LLC boosted its stake in Colgate-Palmolive by 8.5% in the 1st quarter. Intech Investment Management LLC now owns 592,020 shares of the company’s stock worth $55,472,000 after purchasing an additional 46,469 shares during the period. 80.41% of the stock is owned by institutional investors and hedge funds.

Colgate-Palmolive Trading Up 0.2%

NYSE:CL opened at $84.33 on Wednesday. The company has a debt-to-equity ratio of 6.79, a current ratio of 0.89 and a quick ratio of 0.57. The firm has a market capitalization of $68.16 billion, a price-to-earnings ratio of 23.69, a price-to-earnings-growth ratio of 4.38 and a beta of 0.35. Colgate-Palmolive Company has a one year low of $82.40 and a one year high of $107.76. The business has a fifty day moving average price of $86.45 and a 200-day moving average price of $89.69.

Colgate-Palmolive (NYSE:CL) last issued its earnings results on Friday, August 1st. The company reported $0.92 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.89 by $0.03. The company had revenue of $5.11 billion for the quarter, compared to the consensus estimate of $5.03 billion. Colgate-Palmolive had a return on equity of 377.63% and a net margin of 14.55%.The firm’s quarterly revenue was up 1.0% on a year-over-year basis. During the same quarter last year, the company earned $0.91 EPS. Sell-side analysts forecast that Colgate-Palmolive Company will post 3.75 EPS for the current year.

Colgate-Palmolive Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, August 15th. Stockholders of record on Friday, July 18th were given a dividend of $0.52 per share. The ex-dividend date of this dividend was Friday, July 18th. This represents a $2.08 annualized dividend and a dividend yield of 2.5%. Colgate-Palmolive’s payout ratio is currently 58.43%.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently issued reports on CL shares. JPMorgan Chase & Co. lowered their price objective on Colgate-Palmolive from $99.00 to $95.00 and set an “overweight” rating on the stock in a research report on Monday, August 4th. Wells Fargo & Company lowered their price objective on Colgate-Palmolive from $88.00 to $83.00 and set an “underweight” rating for the company in a research report on Monday, August 4th. UBS Group reduced their target price on Colgate-Palmolive from $109.00 to $106.00 and set a “buy” rating on the stock in a research note on Thursday, July 17th. Morgan Stanley cut their price objective on Colgate-Palmolive from $104.00 to $96.00 and set an “overweight” rating on the stock in a research report on Monday, August 4th. Finally, Citigroup reduced their price target on Colgate-Palmolive from $108.00 to $105.00 and set a “buy” rating on the stock in a research note on Monday, August 4th. Seven analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, Colgate-Palmolive presently has an average rating of “Moderate Buy” and an average price target of $98.00.

About Colgate-Palmolive

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.