Prudential PLC Reduces Stake in Colgate-Palmolive Company $CL

Prudential PLC reduced its stake in shares of Colgate-Palmolive Company (NYSE:CL) by 11.6% in the second quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 72,805 shares of the company’s stock after selling 9,595 shares during the period. Prudential PLC’s holdings in Colgate-Palmolive were worth $6,618,000 at the end of the most recent reporting period.

A number of other hedge funds also recently modified their holdings of CL. Cidel Asset Management Inc. increased its stake in shares of Colgate-Palmolive by 13.6% during the second quarter. Cidel Asset Management Inc. now owns 329,060 shares of the company’s stock valued at $29,912,000 after buying an additional 39,413 shares during the period. Sequoia Financial Advisors LLC lifted its stake in Colgate-Palmolive by 18.6% in the second quarter. Sequoia Financial Advisors LLC now owns 30,273 shares of the company’s stock worth $2,752,000 after acquiring an additional 4,738 shares during the period. Welch Group LLC boosted its holdings in Colgate-Palmolive by 1.5% in the second quarter. Welch Group LLC now owns 665,041 shares of the company’s stock valued at $60,452,000 after acquiring an additional 9,689 shares in the last quarter. Arista Wealth Management LLC purchased a new position in Colgate-Palmolive during the 2nd quarter valued at $571,000. Finally, Mraz Amerine & Associates Inc. bought a new position in Colgate-Palmolive in the 2nd quarter worth $300,000. Institutional investors own 80.41% of the company’s stock.

Colgate-Palmolive Trading Up 2.7%

Shares of NYSE:CL opened at $80.97 on Friday. The company has a debt-to-equity ratio of 6.79, a current ratio of 0.89 and a quick ratio of 0.57. Colgate-Palmolive Company has a 1 year low of $74.54 and a 1 year high of $100.18. The company has a market cap of $65.27 billion, a P/E ratio of 22.74, a PEG ratio of 4.44 and a beta of 0.35. The stock’s fifty day moving average price is $78.73 and its 200-day moving average price is $84.84.

Colgate-Palmolive (NYSE:CL) last issued its earnings results on Friday, October 31st. The company reported $0.91 earnings per share for the quarter, topping analysts’ consensus estimates of $0.89 by $0.02. The business had revenue of $5.13 billion during the quarter, compared to analyst estimates of $5.17 billion. Colgate-Palmolive had a return on equity of 377.63% and a net margin of 14.55%.Colgate-Palmolive’s revenue was up 1.9% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.91 EPS. Sell-side analysts expect that Colgate-Palmolive Company will post 3.75 earnings per share for the current year.

Colgate-Palmolive Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, November 14th. Investors of record on Friday, October 17th were issued a $0.52 dividend. The ex-dividend date was Friday, October 17th. This represents a $2.08 annualized dividend and a yield of 2.6%. Colgate-Palmolive’s dividend payout ratio (DPR) is currently 58.26%.

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on the stock. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Colgate-Palmolive in a research note on Wednesday, October 8th. Deutsche Bank Aktiengesellschaft set a $86.00 price objective on Colgate-Palmolive in a research report on Friday, October 10th. Bank of America decreased their target price on Colgate-Palmolive from $98.00 to $88.00 and set a “buy” rating for the company in a research report on Wednesday, October 8th. Citigroup dropped their price target on Colgate-Palmolive from $105.00 to $95.00 and set a “buy” rating on the stock in a research report on Monday, November 3rd. Finally, Barclays decreased their price objective on Colgate-Palmolive from $82.00 to $80.00 and set an “equal weight” rating for the company in a report on Tuesday, November 4th. Nine investment analysts have rated the stock with a Buy rating, five have assigned a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, Colgate-Palmolive currently has an average rating of “Moderate Buy” and a consensus price target of $89.87.

Colgate-Palmolive Company 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.