Colgate-Palmolive Company $CL Stock Holdings Lessened by Banque Pictet & Cie SA

Banque Pictet & Cie SA lowered its stake in Colgate-Palmolive Company (NYSE:CL) by 4.0% during the 2nd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 221,314 shares of the company’s stock after selling 9,123 shares during the period. Banque Pictet & Cie SA’s holdings in Colgate-Palmolive were worth $20,117,000 as of its most recent filing with the SEC.

Other institutional investors also recently modified their holdings of the company. Westend Capital Management LLC grew its position in Colgate-Palmolive by 111.1% during the 1st quarter. Westend Capital Management LLC now owns 266 shares of the company’s stock worth $25,000 after purchasing an additional 140 shares in the last quarter. Cornerstone Planning Group LLC grew its position in Colgate-Palmolive by 1,913.3% during the 1st quarter. Cornerstone Planning Group LLC now owns 302 shares of the company’s stock worth $28,000 after purchasing an additional 287 shares in the last quarter. Saudi Central Bank purchased a new position in Colgate-Palmolive during the 1st quarter worth approximately $29,000. Ransom Advisory Ltd purchased a new position in Colgate-Palmolive during the 1st quarter worth approximately $33,000. Finally, Y.D. More Investments Ltd purchased a new position in Colgate-Palmolive during the 1st quarter worth approximately $37,000. Institutional investors own 80.41% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts have weighed in on the stock. JPMorgan Chase & Co. lowered their price objective on shares of Colgate-Palmolive from $99.00 to $95.00 and set an “overweight” rating on the stock in a research report on Monday, August 4th. Citigroup lowered their price target on shares of Colgate-Palmolive from $108.00 to $105.00 and set a “buy” rating on the stock in a report on Monday, August 4th. Wells Fargo & Company lowered their price target on shares of Colgate-Palmolive from $83.00 to $80.00 and set an “underweight” rating on the stock in a report on Thursday. Barclays boosted their price target on shares of Colgate-Palmolive from $86.00 to $87.00 and gave the company an “equal weight” rating in a report on Tuesday, July 15th. Finally, Morgan Stanley lowered their price target on shares of Colgate-Palmolive from $104.00 to $96.00 and set an “overweight” rating on the stock in a report on Monday, August 4th. Seven analysts have rated the stock with a Buy rating, three have given a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $97.73.

Colgate-Palmolive Trading Down 1.8%

Shares of NYSE:CL opened at $79.64 on Friday. The stock has a market capitalization of $64.37 billion, a PE ratio of 22.37, a P/E/G ratio of 4.22 and a beta of 0.35. Colgate-Palmolive Company has a 1 year low of $78.76 and a 1 year high of $104.16. The firm has a fifty day moving average price of $84.34 and a 200 day moving average price of $88.81. The company has a current ratio of 0.89, a quick ratio of 0.57 and a debt-to-equity ratio of 6.79.

Colgate-Palmolive (NYSE:CL) last issued its quarterly earnings data on Friday, August 1st. The company reported $0.92 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.89 by $0.03. The firm had revenue of $5.11 billion during the quarter, compared to analysts’ expectations of $5.03 billion. Colgate-Palmolive had a net margin of 14.55% and a return on equity of 377.63%. Colgate-Palmolive’s revenue for the quarter was up 1.0% on a year-over-year basis. During the same period in the prior year, the company posted $0.91 earnings per share. Analysts expect that Colgate-Palmolive Company will post 3.75 EPS for the current fiscal year.

Colgate-Palmolive Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, November 14th. Investors of record on Friday, October 17th will be issued a $0.52 dividend. The ex-dividend date is Friday, October 17th. This represents a $2.08 dividend on an annualized basis and a yield of 2.6%. Colgate-Palmolive’s dividend payout ratio is currently 58.43%.

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.