Colgate-Palmolive Company $CL Shares Sold by Northwest & Ethical Investments L.P.

Northwest & Ethical Investments L.P. trimmed its holdings in Colgate-Palmolive Company (NYSE:CL) by 39.1% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 143,694 shares of the company’s stock after selling 92,295 shares during the period. Northwest & Ethical Investments L.P.’s holdings in Colgate-Palmolive were worth $13,062,000 at the end of the most recent reporting period.

Several other hedge funds have also modified their holdings of the stock. Westside Investment Management Inc. boosted its holdings in shares of Colgate-Palmolive by 85.5% in the 2nd quarter. Westside Investment Management Inc. now owns 282 shares of the company’s stock valued at $26,000 after purchasing an additional 130 shares during the last quarter. Saudi Central Bank acquired a new stake in Colgate-Palmolive in the 1st quarter valued at $29,000. Ransom Advisory Ltd purchased a new stake in shares of Colgate-Palmolive during the 1st quarter valued at about $33,000. Y.D. More Investments Ltd purchased a new position in Colgate-Palmolive in the 1st quarter worth approximately $37,000. Finally, MTM Investment Management LLC acquired a new stake in Colgate-Palmolive in the second quarter valued at approximately $39,000. 80.41% of the stock is owned by institutional investors and hedge funds.

Colgate-Palmolive Price Performance

Shares of NYSE CL opened at $79.83 on Wednesday. The company has a current ratio of 0.89, a quick ratio of 0.57 and a debt-to-equity ratio of 6.79. The company has a market capitalization of $64.35 billion, a price-to-earnings ratio of 22.42, a price-to-earnings-growth ratio of 4.44 and a beta of 0.35. Colgate-Palmolive Company has a twelve month low of $74.54 and a twelve month high of $100.18. The business has a 50 day simple moving average of $78.64 and a 200-day simple moving average of $84.60.

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

Colgate-Palmolive Announces Dividend

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

Wall Street Analysts Forecast Growth

CL has been the topic of a number of recent research reports. Wells Fargo & Company reduced their target price on shares of Colgate-Palmolive from $80.00 to $77.00 and set an “underweight” rating on the stock in a research report on Monday, November 3rd. Raymond James Financial decreased their price objective on shares of Colgate-Palmolive from $105.00 to $95.00 and set an “outperform” rating for the company in a research report on Monday, October 20th. Barclays dropped their target price on Colgate-Palmolive from $82.00 to $80.00 and set an “equal weight” rating on the stock in a research report on Tuesday, November 4th. Weiss Ratings reissued a “hold (c)” rating on shares of Colgate-Palmolive in a report on Wednesday, October 8th. Finally, Evercore ISI cut their target price on Colgate-Palmolive from $100.00 to $94.00 and set an “outperform” rating on the stock in a research report on Monday, November 3rd. Nine analysts have rated the stock with a Buy rating, five have given a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, Colgate-Palmolive presently has an average rating of “Moderate Buy” and an average price target of $89.87.

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.