New York State Teachers Retirement System Reduces Position in Colgate-Palmolive Company $CL

New York State Teachers Retirement System decreased its position in shares of Colgate-Palmolive Company (NYSE:CL) by 2.2% during the 3rd quarter, HoldingsChannel reports. The institutional investor owned 756,473 shares of the company’s stock after selling 16,797 shares during the quarter. New York State Teachers Retirement System’s holdings in Colgate-Palmolive were worth $60,472,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors have also modified their holdings of the company. Westside Investment Management Inc. raised its position in 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. Vermillion & White Wealth Management Group LLC increased its stake in 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 purchasing an additional 155 shares during the period. MTM Investment Management LLC acquired a new position in Colgate-Palmolive in the second quarter valued at $39,000. Louisbourg Investments Inc. raised its holdings in shares of Colgate-Palmolive by 94.7% in the third quarter. Louisbourg Investments Inc. now owns 514 shares of the company’s stock valued at $41,000 after buying an additional 250 shares during the last quarter. Finally, Atticus Wealth Management LLC boosted its stake in shares of Colgate-Palmolive by 156.8% during the second quarter. Atticus Wealth Management LLC now owns 488 shares of the company’s stock worth $44,000 after buying an additional 298 shares during the period. 80.41% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

CL has been the subject of several analyst reports. Deutsche Bank Aktiengesellschaft set a $86.00 price objective on Colgate-Palmolive in a research note on Friday, October 10th. Evercore ISI decreased their price target on Colgate-Palmolive from $100.00 to $94.00 and set an “outperform” rating for the company in a report on Monday, November 3rd. JPMorgan Chase & Co. boosted their price objective on shares of Colgate-Palmolive from $87.00 to $88.00 and gave the company an “overweight” rating in a research note on Thursday, December 18th. Barclays reduced their target price on shares of Colgate-Palmolive from $82.00 to $80.00 and set an “equal weight” rating for the company in a research note on Tuesday, November 4th. Finally, Citigroup dropped their price target on shares of Colgate-Palmolive from $105.00 to $95.00 and set a “buy” rating on the stock in a research note on Monday, November 3rd. Eleven equities research analysts have rated the stock with a Buy rating, four have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, Colgate-Palmolive presently has an average rating of “Moderate Buy” and an average target price of $88.19.

Colgate-Palmolive Price Performance

Shares of NYSE CL opened at $81.44 on Monday. The company has a debt-to-equity ratio of 5.90, a quick ratio of 0.60 and a current ratio of 0.93. Colgate-Palmolive Company has a one year low of $74.54 and a one year high of $100.18. The firm has a market capitalization of $65.64 billion, a P/E ratio of 22.81, a PEG ratio of 5.52 and a beta of 0.30. The company’s fifty day moving average is $78.71 and its two-hundred day moving average is $81.91.

Colgate-Palmolive (NYSE:CL) last announced its quarterly earnings data on Friday, October 31st. The company reported $0.91 EPS for the quarter, beating the consensus estimate of $0.89 by $0.02. The firm had revenue of $5.13 billion during the quarter, compared to analysts’ expectations of $5.17 billion. Colgate-Palmolive had a net margin of 14.47% and a return on equity of 333.39%. The business’s revenue for the quarter was up 1.9% compared to the same quarter last year. During the same quarter last year, the business earned $0.91 earnings per share. Analysts forecast that Colgate-Palmolive Company will post 3.75 EPS for the current fiscal year.

Colgate-Palmolive Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, February 13th. Stockholders of record on Wednesday, January 21st will be paid a dividend of $0.52 per share. The ex-dividend date of this dividend is Wednesday, January 21st. This represents a $2.08 annualized dividend and a dividend yield of 2.6%. Colgate-Palmolive’s payout ratio is 58.26%.

Colgate-Palmolive Company Profile

Colgate-Palmolive Company is a global consumer products company with a long history in household and personal care categories. The business traces its roots to the early 19th century and has evolved into a multinational manufacturer and marketer of everyday consumer goods focused on health, hygiene and home care.

The company’s core activities center on oral care, personal care, home care and pet nutrition. Its product portfolio includes toothpaste, toothbrushes and mouthwash in oral care; soaps, body washes and deodorants in personal care; dishwashing liquids, surface cleaners and other household products in home care; and scientifically formulated pet foods under its pet nutrition business.