Envestnet Portfolio Solutions Inc. Lowers Stock Position in Colgate-Palmolive Company $CL

Envestnet Portfolio Solutions Inc. cut its holdings in shares of Colgate-Palmolive Company (NYSE:CL) by 29.1% during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 15,763 shares of the company’s stock after selling 6,466 shares during the period. Envestnet Portfolio Solutions Inc.’s holdings in Colgate-Palmolive were worth $1,433,000 at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of the business. Vanguard Group Inc. grew its position in shares of Colgate-Palmolive by 0.6% during the first quarter. Vanguard Group Inc. now owns 81,758,257 shares of the company’s stock worth $7,660,749,000 after acquiring an additional 455,198 shares during the last quarter. Price T Rowe Associates Inc. MD grew its position in shares of Colgate-Palmolive by 18.3% during the first quarter. Price T Rowe Associates Inc. MD now owns 34,009,078 shares of the company’s stock worth $3,186,651,000 after acquiring an additional 5,269,140 shares during the last quarter. Goldman Sachs Group Inc. grew its position in shares of Colgate-Palmolive by 34.5% during the first quarter. Goldman Sachs Group Inc. now owns 7,980,387 shares of the company’s stock worth $747,762,000 after acquiring an additional 2,045,191 shares during the last quarter. Deutsche Bank AG grew its position in shares of Colgate-Palmolive by 3.7% during the first quarter. Deutsche Bank AG now owns 7,176,598 shares of the company’s stock worth $672,447,000 after acquiring an additional 253,604 shares during the last quarter. Finally, Ameriprise Financial Inc. grew its position in shares of Colgate-Palmolive by 2.6% during the first quarter. Ameriprise Financial Inc. now owns 6,976,654 shares of the company’s stock worth $653,761,000 after acquiring an additional 177,833 shares during the last quarter. 80.41% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several brokerages recently weighed in on CL. Deutsche Bank Aktiengesellschaft set a $86.00 price target on Colgate-Palmolive in a report on Friday, October 10th. Bank of America decreased their price target on Colgate-Palmolive from $98.00 to $88.00 and set a “buy” rating for the company in a report on Wednesday, October 8th. Morgan Stanley decreased their price target on Colgate-Palmolive from $104.00 to $96.00 and set an “overweight” rating for the company in a report on Monday, August 4th. UBS Group decreased their price target on Colgate-Palmolive from $99.00 to $92.00 and set a “buy” rating for the company in a report on Wednesday, October 8th. Finally, Weiss Ratings reaffirmed a “hold (c)” rating on shares of Colgate-Palmolive in a report on Wednesday, October 8th. Eight analysts have rated the stock with a Buy rating, five have assigned a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, Colgate-Palmolive currently has a consensus rating of “Moderate Buy” and a consensus target price of $92.21.

Colgate-Palmolive Price Performance

Colgate-Palmolive stock opened at $79.14 on Friday. Colgate-Palmolive Company has a one year low of $76.68 and a one year high of $100.54. The company has a debt-to-equity ratio of 6.79, a quick ratio of 0.57 and a current ratio of 0.89. The business has a fifty day moving average of $81.96 and a two-hundred day moving average of $87.39. The company has a market cap of $63.96 billion, a P/E ratio of 22.23, a price-to-earnings-growth ratio of 4.58 and a beta of 0.34.

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

Colgate-Palmolive Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, November 14th. Shareholders of record on Friday, October 17th will be issued a $0.52 dividend. The ex-dividend date of this dividend is Friday, October 17th. This represents a $2.08 dividend on an annualized basis and a yield of 2.6%. Colgate-Palmolive’s dividend payout ratio (DPR) is 58.43%.

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.