Edgewood Management LLC Reduces Holdings in Colgate-Palmolive Company $CL

Edgewood Management LLC lessened its holdings in Colgate-Palmolive Company (NYSE:CL) by 4.3% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 638,938 shares of the company’s stock after selling 29,045 shares during the period. Colgate-Palmolive accounts for approximately 0.2% of Edgewood Management LLC’s portfolio, making the stock its 23rd largest holding. Edgewood Management LLC’s holdings in Colgate-Palmolive were worth $58,079,000 as of its most recent SEC filing.

Other large investors have also modified their holdings of the company. Westside Investment Management Inc. raised its position in shares of Colgate-Palmolive by 85.5% during the 2nd quarter. Westside Investment Management Inc. now owns 282 shares of the company’s stock worth $26,000 after purchasing an additional 130 shares during the last quarter. Saudi Central Bank acquired a new position in shares of Colgate-Palmolive in the first quarter worth $29,000. Vermillion & White Wealth Management Group LLC lifted its position in shares of Colgate-Palmolive by 86.1% in the second quarter. Vermillion & White Wealth Management Group LLC now owns 335 shares of the company’s stock valued at $30,000 after acquiring an additional 155 shares in the last quarter. Ransom Advisory Ltd acquired a new stake in shares of Colgate-Palmolive during the first quarter valued at $33,000. Finally, Y.D. More Investments Ltd purchased a new stake in Colgate-Palmolive during the 1st quarter worth about $37,000. 80.41% of the stock is currently owned by institutional investors and hedge funds.

Colgate-Palmolive Stock Up 1.2%

Shares of NYSE CL opened at $80.99 on Friday. The stock has a market capitalization of $65.28 billion, a PE ratio of 22.75, a P/E/G ratio of 4.44 and a beta of 0.35. The company has a quick ratio of 0.57, a current ratio of 0.89 and a debt-to-equity ratio of 6.79. The firm has a fifty day moving average of $78.57 and a 200-day moving average of $84.48. Colgate-Palmolive Company has a 52-week low of $74.54 and a 52-week high of $100.18.

Colgate-Palmolive (NYSE:CL) last issued its earnings results on Friday, October 31st. The company reported $0.91 earnings per share for the quarter, beating analysts’ consensus estimates of $0.89 by $0.02. The firm had revenue of $5.13 billion for the quarter, compared to analysts’ expectations of $5.17 billion. Colgate-Palmolive had a return on equity of 377.63% and a net margin of 14.55%.The firm’s revenue for the quarter was up 1.9% compared to the same quarter last year. During the same quarter last year, the firm earned $0.91 earnings per share. On average, analysts anticipate that Colgate-Palmolive Company will post 3.75 EPS for the current year.

Colgate-Palmolive Announces Dividend

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

Wall Street Analyst Weigh In

Several equities research analysts have issued reports on CL shares. Evercore ISI decreased their price target on shares of Colgate-Palmolive from $100.00 to $94.00 and set an “outperform” rating on the stock in a research note on Monday, November 3rd. Wells Fargo & Company reduced their price objective on shares of Colgate-Palmolive from $80.00 to $77.00 and set an “underweight” rating on the stock in a research note on Monday, November 3rd. Bank of America lowered their target price on shares of Colgate-Palmolive from $98.00 to $88.00 and set a “buy” rating for the company in a research note on Wednesday, October 8th. Barclays reduced their price target on Colgate-Palmolive from $82.00 to $80.00 and set an “equal weight” rating on the stock in a research note on Tuesday, November 4th. Finally, Raymond James Financial lowered their price objective on Colgate-Palmolive from $105.00 to $95.00 and set an “outperform” rating for the company in a research report on Monday, October 20th. Nine research analysts have rated the stock with a Buy rating, five have given a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $89.87.

Colgate-Palmolive Profile

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.