Independent Investors Inc. Reduces Holdings in Colgate-Palmolive (CL)

Independent Investors Inc. cut its position in Colgate-Palmolive (NYSE:CL) by 3.8% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 45,000 shares of the company’s stock after selling 1,800 shares during the quarter. Colgate-Palmolive accounts for about 1.2% of Independent Investors Inc.’s holdings, making the stock its 23rd biggest holding. Independent Investors Inc.’s holdings in Colgate-Palmolive were worth $2,678,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently bought and sold shares of CL. Curbstone Financial Management Corp increased its stake in shares of Colgate-Palmolive by 1.2% in the fourth quarter. Curbstone Financial Management Corp now owns 16,870 shares of the company’s stock valued at $1,093,000 after buying an additional 200 shares during the period. Vision Capital Management Inc. increased its stake in shares of Colgate-Palmolive by 2.1% in the fourth quarter. Vision Capital Management Inc. now owns 16,495 shares of the company’s stock valued at $982,000 after buying an additional 340 shares during the period. Rehmann Capital Advisory Group increased its stake in shares of Colgate-Palmolive by 15.3% in the third quarter. Rehmann Capital Advisory Group now owns 2,830 shares of the company’s stock valued at $190,000 after buying an additional 375 shares during the period. Capital Insight Partners LLC increased its stake in shares of Colgate-Palmolive by 3.0% in the fourth quarter. Capital Insight Partners LLC now owns 14,999 shares of the company’s stock valued at $893,000 after buying an additional 431 shares during the period. Finally, Sheets Smith Wealth Management grew its stake in Colgate-Palmolive by 3.7% during the fourth quarter. Sheets Smith Wealth Management now owns 12,450 shares of the company’s stock worth $741,000 after purchasing an additional 439 shares during the period. Hedge funds and other institutional investors own 74.54% of the company’s stock.

Several equities research analysts recently commented on the company. Zacks Investment Research cut Colgate-Palmolive from a “hold” rating to a “sell” rating in a research note on Monday, October 29th. Evercore ISI initiated coverage on Colgate-Palmolive in a research note on Thursday. They issued an “outperform” rating and a $70.00 price objective for the company. Wells Fargo & Co dropped their target price on Colgate-Palmolive from $64.00 to $62.00 and set a “market perform” rating on the stock in a report on Wednesday, October 17th. Atlantic Securities initiated coverage on Colgate-Palmolive in a report on Thursday, September 20th. They issued a “neutral” rating and a $71.00 target price on the stock. Finally, Goldman Sachs Group upgraded Colgate-Palmolive from a “neutral” rating to a “buy” rating in a report on Tuesday, January 8th. Two analysts have rated the stock with a sell rating, twelve have issued a hold rating and four have issued a buy rating to the company. The stock currently has an average rating of “Hold” and an average target price of $67.87.

Shares of Colgate-Palmolive stock opened at $62.10 on Monday. The firm has a market cap of $53.17 billion, a P/E ratio of 21.64, a price-to-earnings-growth ratio of 2.94 and a beta of 0.75. Colgate-Palmolive has a 12 month low of $57.41 and a 12 month high of $77.91.

Colgate-Palmolive (NYSE:CL) last issued its quarterly earnings results on Friday, October 26th. The company reported $0.72 EPS for the quarter, hitting the Zacks’ consensus estimate of $0.72. The business had revenue of $3.85 billion for the quarter, compared to analyst estimates of $3.89 billion. Colgate-Palmolive had a return on equity of 12,004.60% and a net margin of 13.55%. Colgate-Palmolive’s quarterly revenue was down 3.2% compared to the same quarter last year. During the same period last year, the company posted $0.73 earnings per share. On average, analysts anticipate that Colgate-Palmolive will post 2.96 EPS for the current fiscal year.

The firm also recently declared a quarterly dividend, which will be paid on Friday, February 15th. Investors of record on Wednesday, January 23rd will be issued a dividend of $0.42 per share. The ex-dividend date is Tuesday, January 22nd. This represents a $1.68 dividend on an annualized basis and a yield of 2.71%. Colgate-Palmolive’s dividend payout ratio (DPR) is currently 58.54%.

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Colgate-Palmolive Company Profile

Colgate-Palmolive Company, together with its subsidiaries, manufactures and sells consumer products worldwide. It operates through two segments, Oral, Personal and Home Care; and Pet Nutrition. The company offers oral care products, including toothpastes, toothbrushes, and mouthwashes, as well as pharmaceutical products for dentists and other oral health professionals; personal care products comprising bar and liquid hand soaps, shower gels, shampoos, conditioners, and deodorants and antiperspirants; and home care products, such as laundry and dishwashing detergents, fabric conditioners, household cleaners, and other related products.

See Also: Price to Earnings Ratio (PE) Basics

Institutional Ownership by Quarter for Colgate-Palmolive (NYSE:CL)

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