Korea Investment CORP Has $59.39 Million Position in Colgate-Palmolive Company $CL

Korea Investment CORP cut its position in Colgate-Palmolive Company (NYSE:CL) by 6.2% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 633,865 shares of the company’s stock after selling 41,874 shares during the quarter. Korea Investment CORP owned 0.08% of Colgate-Palmolive worth $59,393,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently made changes to their positions in CL. Brighton Jones LLC increased its position in Colgate-Palmolive by 4.4% during the 4th quarter. Brighton Jones LLC now owns 10,578 shares of the company’s stock worth $962,000 after purchasing an additional 450 shares in the last quarter. Bernard Wealth Management Corp. acquired a new position in Colgate-Palmolive during the 4th quarter worth approximately $36,000. Forum Financial Management LP increased its position in Colgate-Palmolive by 24.6% during the 4th quarter. Forum Financial Management LP now owns 5,513 shares of the company’s stock worth $501,000 after purchasing an additional 1,088 shares in the last quarter. Transce3nd LLC acquired a new position in Colgate-Palmolive during the 4th quarter worth approximately $42,000. Finally, Tower Research Capital LLC TRC grew its holdings in Colgate-Palmolive by 104.8% during the 4th quarter. Tower Research Capital LLC TRC now owns 63,684 shares of the company’s stock worth $5,790,000 after acquiring an additional 32,582 shares during the last quarter. 80.41% of the stock is currently owned by institutional investors and hedge funds.

Colgate-Palmolive Stock Down 0.9%

Shares of NYSE CL opened at $84.30 on Tuesday. The firm has a market cap of $68.13 billion, a PE ratio of 23.68, a P/E/G ratio of 4.42 and a beta of 0.35. Colgate-Palmolive Company has a 12-month low of $82.40 and a 12-month high of $109.30. The company’s fifty day simple moving average is $88.07 and its 200 day simple moving average is $89.98. The company has a quick ratio of 0.57, a current ratio of 0.89 and a debt-to-equity ratio of 6.79.

Colgate-Palmolive (NYSE:CL) last issued its earnings results on Friday, August 1st. The company reported $0.92 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.89 by $0.03. The business had revenue of $5.11 billion for the quarter, compared to analyst estimates 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 was up 1.0% on a year-over-year basis. During the same period in the prior year, the firm earned $0.91 earnings per share. As a group, sell-side analysts forecast that Colgate-Palmolive Company will post 3.75 earnings per share for the current fiscal year.

Colgate-Palmolive Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, August 15th. Shareholders of record on Friday, July 18th were issued a dividend of $0.52 per share. The ex-dividend date was Friday, July 18th. This represents a $2.08 annualized dividend and a yield of 2.5%. Colgate-Palmolive’s dividend payout ratio is presently 58.43%.

Analysts Set New Price Targets

A number of equities research analysts have weighed in on CL shares. Citigroup reduced their target price 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. UBS Group reduced their target price on shares of Colgate-Palmolive from $109.00 to $106.00 and set a “buy” rating on the stock in a report on Thursday, July 17th. Wells Fargo & Company reduced their target price on shares of Colgate-Palmolive from $88.00 to $83.00 and set an “underweight” rating on the stock in a report on Monday, August 4th. JPMorgan Chase & Co. reduced their target price on shares of Colgate-Palmolive from $99.00 to $95.00 and set an “overweight” rating on the stock in a report on Monday, August 4th. Finally, Wall Street Zen lowered shares of Colgate-Palmolive from a “buy” rating to a “hold” rating in a report on Wednesday, May 7th. One analyst has rated the stock with a sell rating, five have issued a hold rating and seven have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Colgate-Palmolive presently has an average rating of “Hold” and a consensus target price of $98.92.

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.