Colgate-Palmolive Company $CL Shares Bought by New York Life Investment Management LLC

New York Life Investment Management LLC grew its stake in shares of Colgate-Palmolive Company (NYSE:CL) by 1.1% in the second quarter, Holdings Channel.com reports. The fund owned 121,458 shares of the company’s stock after buying an additional 1,330 shares during the quarter. New York Life Investment Management LLC’s holdings in Colgate-Palmolive were worth $11,041,000 at the end of the most recent reporting period.

Other large investors also recently added to or reduced their stakes in the company. Personal CFO Solutions LLC acquired a new stake in Colgate-Palmolive during the 1st quarter valued at $285,000. Vision Capital Management Inc. acquired a new position in shares of Colgate-Palmolive in the first quarter worth $322,000. Financial Gravity Asset Management Inc. acquired a new position in shares of Colgate-Palmolive in the first quarter worth $2,166,000. Cidel Asset Management Inc. increased its stake in shares of Colgate-Palmolive by 13.6% in the second quarter. Cidel Asset Management Inc. now owns 329,060 shares of the company’s stock worth $29,912,000 after acquiring an additional 39,413 shares during the last quarter. Finally, Penserra Capital Management LLC increased its stake in shares of Colgate-Palmolive by 398.6% in the first quarter. Penserra Capital Management LLC now owns 10,651 shares of the company’s stock worth $997,000 after acquiring an additional 8,515 shares during the last quarter. 80.41% of the stock is owned by institutional investors and hedge funds.

Colgate-Palmolive Stock Down 0.9%

CL stock opened at $77.10 on Wednesday. The company has a debt-to-equity ratio of 6.79, a current ratio of 0.89 and a quick ratio of 0.57. Colgate-Palmolive Company has a 52-week low of $76.68 and a 52-week high of $100.18. The company has a 50-day moving average of $81.03 and a two-hundred day moving average of $86.71. The stock has a market capitalization of $62.31 billion, a price-to-earnings ratio of 21.66, a price-to-earnings-growth ratio of 4.57 and a beta of 0.34.

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

Colgate-Palmolive Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, November 14th. Investors of record on Friday, October 17th will be paid a $0.52 dividend. This represents a $2.08 annualized dividend and a dividend yield of 2.7%. The ex-dividend date is Friday, October 17th. Colgate-Palmolive’s dividend payout ratio (DPR) is presently 58.43%.

Analyst Upgrades and Downgrades

A number of equities analysts have recently weighed in on CL shares. The Goldman Sachs Group dropped their price target on shares of Colgate-Palmolive from $106.00 to $91.00 and set a “buy” rating on the stock in a research note on Thursday, October 2nd. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Colgate-Palmolive in a research note on Wednesday, October 8th. Barclays lowered their target price on shares of Colgate-Palmolive from $87.00 to $82.00 and set an “equal weight” rating on the stock in a research report on Wednesday, October 1st. Bank of America lowered their target price on shares of Colgate-Palmolive from $98.00 to $88.00 and set a “buy” rating on the stock in a research report on Wednesday, October 8th. Finally, JPMorgan Chase & Co. lowered their target price on shares of Colgate-Palmolive from $95.00 to $88.00 and set an “overweight” rating on the stock in a research report on Friday, October 10th. Eight research analysts have rated the stock with a Buy rating, five have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $91.50.

Colgate-Palmolive Company 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.