Franklin Resources Inc. Sells 353,911 Shares of Colgate-Palmolive Company $CL

Franklin Resources Inc. cut its holdings in shares of Colgate-Palmolive Company (NYSE:CL) by 8.2% during the second quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 3,983,326 shares of the company’s stock after selling 353,911 shares during the period. Franklin Resources Inc. owned 0.49% of Colgate-Palmolive worth $362,085,000 as of its most recent SEC filing.

A number of other large investors also recently bought and sold shares of the business. Brighton Jones LLC boosted its position in Colgate-Palmolive by 4.4% during the fourth quarter. Brighton Jones LLC now owns 10,578 shares of the company’s stock valued at $962,000 after purchasing an additional 450 shares in the last quarter. Bank Julius Baer & Co. Ltd Zurich raised its holdings in Colgate-Palmolive by 8.4% in the first quarter. Bank Julius Baer & Co. Ltd Zurich now owns 7,176 shares of the company’s stock worth $672,000 after purchasing an additional 556 shares in the last quarter. Carnegie Investment Counsel lifted its position in shares of Colgate-Palmolive by 73.8% during the first quarter. Carnegie Investment Counsel now owns 33,306 shares of the company’s stock valued at $3,038,000 after buying an additional 14,144 shares during the last quarter. Lifeworks Advisors LLC boosted its holdings in shares of Colgate-Palmolive by 10.4% in the 1st quarter. Lifeworks Advisors LLC now owns 8,350 shares of the company’s stock valued at $782,000 after buying an additional 784 shares in the last quarter. Finally, Cetera Investment Advisers grew its position in shares of Colgate-Palmolive by 15.0% in the 1st quarter. Cetera Investment Advisers now owns 156,262 shares of the company’s stock worth $14,642,000 after buying an additional 20,339 shares during the last quarter. Institutional investors own 80.41% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts recently commented on CL shares. Weiss Ratings reissued a “hold (c)” rating on shares of Colgate-Palmolive in a research report on Wednesday, October 8th. JPMorgan Chase & Co. decreased their price objective on Colgate-Palmolive from $88.00 to $87.00 and set an “overweight” rating for the company in a report on Monday, November 3rd. Morgan Stanley dropped their target price on Colgate-Palmolive from $96.00 to $87.00 and set an “overweight” rating on the stock in a research note on Monday, November 3rd. Deutsche Bank Aktiengesellschaft set a $86.00 price target on Colgate-Palmolive in a research note on Friday, October 10th. Finally, The Goldman Sachs Group dropped their price target on Colgate-Palmolive from $106.00 to $91.00 and set a “buy” rating on the stock in a research note on Thursday, October 2nd. Nine investment analysts have rated the stock with a Buy rating, five have assigned a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, Colgate-Palmolive currently has a consensus rating of “Moderate Buy” and a consensus price target of $89.87.

Colgate-Palmolive Stock Performance

Shares of CL opened at $80.97 on Friday. The company has a debt-to-equity ratio of 6.79, a quick ratio of 0.57 and a current ratio of 0.89. The stock has a 50-day moving average of $78.73 and a two-hundred day moving average of $84.84. The stock has a market cap of $65.27 billion, a P/E ratio of 22.74, a P/E/G ratio of 4.44 and a beta of 0.35. Colgate-Palmolive Company has a one year low of $74.54 and a one year high of $100.18.

Colgate-Palmolive (NYSE:CL) last announced its quarterly earnings data on Friday, October 31st. The company reported $0.91 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.89 by $0.02. Colgate-Palmolive had a return on equity of 377.63% and a net margin of 14.55%.The firm had revenue of $5.13 billion during the quarter, compared to analysts’ expectations of $5.17 billion. During the same period last year, the business posted $0.91 earnings per share. The company’s revenue for the quarter was up 1.9% compared to the same quarter last year. As a group, research analysts predict that Colgate-Palmolive Company will post 3.75 EPS for the current year.

Colgate-Palmolive Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, November 14th. Shareholders of record on Friday, October 17th were paid a dividend of $0.52 per share. This represents a $2.08 annualized dividend and a yield of 2.6%. The ex-dividend date was Friday, October 17th. Colgate-Palmolive’s payout ratio is presently 58.26%.

Colgate-Palmolive Profile

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.