Cigna Investments Inc. New Trims Stock Position in Colgate-Palmolive Company $CL

Cigna Investments Inc. New lowered its holdings in shares of Colgate-Palmolive Company (NYSE:CL) by 1.5% in the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 8,103 shares of the company’s stock after selling 122 shares during the quarter. Cigna Investments Inc. New’s holdings in Colgate-Palmolive were worth $759,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the business. Vanguard Group Inc. increased its position in shares of Colgate-Palmolive by 0.6% during the 1st quarter. Vanguard Group Inc. now owns 81,758,257 shares of the company’s stock valued at $7,660,749,000 after purchasing an additional 455,198 shares during the last quarter. Price T Rowe Associates Inc. MD increased its position in shares of Colgate-Palmolive by 18.3% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 34,009,078 shares of the company’s stock valued at $3,186,651,000 after purchasing an additional 5,269,140 shares during the last quarter. Goldman Sachs Group Inc. increased its position in shares of Colgate-Palmolive by 34.5% during the 1st quarter. Goldman Sachs Group Inc. now owns 7,980,387 shares of the company’s stock valued at $747,762,000 after purchasing an additional 2,045,191 shares during the last quarter. Deutsche Bank AG increased its position in shares of Colgate-Palmolive by 3.7% during the 1st quarter. Deutsche Bank AG now owns 7,176,598 shares of the company’s stock valued at $672,447,000 after purchasing an additional 253,604 shares during the last quarter. Finally, Ameriprise Financial Inc. increased its position in shares of Colgate-Palmolive by 2.6% during the 1st quarter. Ameriprise Financial Inc. now owns 6,976,654 shares of the company’s stock valued at $653,761,000 after purchasing an additional 177,833 shares during the last quarter. Hedge funds and other institutional investors own 80.41% of the company’s stock.

Colgate-Palmolive Trading Up 0.7%

CL stock opened at $84.04 on Tuesday. Colgate-Palmolive Company has a 1-year low of $82.40 and a 1-year high of $109.30. The company has a debt-to-equity ratio of 6.79, a current ratio of 0.89 and a quick ratio of 0.57. The company has a market capitalization of $67.92 billion, a price-to-earnings ratio of 23.61, a PEG ratio of 4.37 and a beta of 0.35. The business has a 50 day simple moving average of $87.06 and a two-hundred day simple moving average of $89.84.

Colgate-Palmolive (NYSE:CL) last posted its quarterly earnings results on Friday, August 1st. The company reported $0.92 earnings per share for the quarter, topping the consensus estimate of $0.89 by $0.03. Colgate-Palmolive had a return on equity of 377.63% and a net margin of 14.55%.The business had revenue of $5.11 billion during the quarter, compared to the consensus estimate of $5.03 billion. During the same period in the prior year, the company posted $0.91 EPS. The firm’s revenue for the quarter was up 1.0% compared to the same quarter last year. Research analysts anticipate that Colgate-Palmolive Company will post 3.75 EPS for the current fiscal year.

Colgate-Palmolive Dividend Announcement

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

Analyst Ratings Changes

Several research firms have recently commented on CL. JPMorgan Chase & Co. reduced their price target on shares of Colgate-Palmolive from $99.00 to $95.00 and set an “overweight” rating for the company in a research report on Monday, August 4th. Barclays increased their target price on shares of Colgate-Palmolive from $86.00 to $87.00 and gave the stock an “equal weight” rating in a report on Tuesday, July 15th. Wall Street Zen lowered shares of Colgate-Palmolive from a “buy” rating to a “hold” rating in a report on Wednesday, May 7th. Morgan Stanley reduced their target price on shares of Colgate-Palmolive from $104.00 to $96.00 and set an “overweight” rating for the company in a report on Monday, August 4th. Finally, Citigroup reduced their target price on shares of Colgate-Palmolive from $108.00 to $105.00 and set a “buy” rating for the company in a report on Monday, August 4th. Seven equities research analysts have rated the stock with a Buy rating, four have issued a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, Colgate-Palmolive presently has an average rating of “Moderate Buy” and an average 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.