Colgate-Palmolive Company $CL Shares Sold by Legal & General Group Plc

Legal & General Group Plc lowered its stake in Colgate-Palmolive Company (NYSE:CL) by 2.9% during the fourth quarter, HoldingsChannel reports. The firm owned 5,746,897 shares of the company’s stock after selling 172,627 shares during the quarter. Legal & General Group Plc’s holdings in Colgate-Palmolive were worth $454,120,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also modified their holdings of the company. Maseco LLP acquired a new position in shares of Colgate-Palmolive in the fourth quarter valued at approximately $27,000. Copia Wealth Management acquired a new position in shares of Colgate-Palmolive in the third quarter valued at approximately $29,000. Cloud Capital Management LLC acquired a new position in shares of Colgate-Palmolive in the third quarter valued at approximately $30,000. Global Wealth Strategies & Associates increased its holdings in shares of Colgate-Palmolive by 300.0% in the fourth quarter. Global Wealth Strategies & Associates now owns 400 shares of the company’s stock valued at $32,000 after purchasing an additional 300 shares during the period. Finally, Camelot Portfolios LLC acquired a new position in shares of Colgate-Palmolive in the fourth quarter valued at approximately $32,000. Institutional investors and hedge funds own 80.41% of the company’s stock.

Colgate-Palmolive Trading Up 0.1%

NYSE:CL opened at $90.66 on Tuesday. The stock has a fifty day moving average price of $86.16 and a two-hundred day moving average price of $85.32. The stock has a market capitalization of $72.74 billion, a price-to-earnings ratio of 35.28, a PEG ratio of 4.71 and a beta of 0.31. The company has a debt-to-equity ratio of 16.33, a quick ratio of 0.67 and a current ratio of 1.02. Colgate-Palmolive Company has a 1 year low of $74.54 and a 1 year high of $99.33.

Colgate-Palmolive (NYSE:CL) last released its quarterly earnings data on Friday, May 1st. The company reported $0.97 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.94 by $0.03. The firm had revenue of $5.32 billion during the quarter, compared to analysts’ expectations of $5.22 billion. Colgate-Palmolive had a return on equity of 386.76% and a net margin of 10.04%.Colgate-Palmolive’s revenue was up 8.4% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.91 earnings per share. As a group, sell-side analysts anticipate that Colgate-Palmolive Company will post 3.82 earnings per share for the current fiscal year.

Colgate-Palmolive Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, May 15th. Investors of record on Monday, April 20th were given a $0.53 dividend. The ex-dividend date was Monday, April 20th. This represents a $2.12 annualized dividend and a dividend yield of 2.3%. This is a boost from Colgate-Palmolive’s previous quarterly dividend of $0.52. Colgate-Palmolive’s payout ratio is presently 82.49%.

Analysts Set New Price Targets

A number of research analysts have recently issued reports on the company. The Goldman Sachs Group reissued a “buy” rating on shares of Colgate-Palmolive in a report on Friday, May 1st. Wells Fargo & Company dropped their target price on Colgate-Palmolive from $100.00 to $92.00 and set an “equal weight” rating on the stock in a report on Wednesday, April 8th. UBS Group increased their price objective on Colgate-Palmolive from $98.00 to $100.00 and gave the stock a “buy” rating in a research report on Monday, May 4th. Jefferies Financial Group increased their price objective on Colgate-Palmolive from $85.00 to $91.00 and gave the stock a “hold” rating in a research report on Monday, February 2nd. Finally, Evercore increased their price objective on Colgate-Palmolive from $94.00 to $100.00 and gave the stock an “outperform” rating in a research report on Monday, February 2nd. Twelve investment analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the stock. Based on data from MarketBeat, Colgate-Palmolive presently has an average rating of “Moderate Buy” and an average target price of $95.88.

About Colgate-Palmolive

Colgate-Palmolive Company is a global consumer products company with a long history in household and personal care categories. The business traces its roots to the early 19th century and has evolved into a multinational manufacturer and marketer of everyday consumer goods focused on health, hygiene and home care.

The company’s core activities center on oral care, personal care, home care and pet nutrition. Its product portfolio includes toothpaste, toothbrushes and mouthwash in oral care; soaps, body washes and deodorants in personal care; dishwashing liquids, surface cleaners and other household products in home care; and scientifically formulated pet foods under its pet nutrition business.