DekaBank Deutsche Girozentrale Sells 50,314 Shares of Colgate-Palmolive Company $CL

DekaBank Deutsche Girozentrale lowered its position in shares of Colgate-Palmolive Company (NYSE:CL) by 3.3% during the second quarter, HoldingsChannel.com reports. The fund owned 1,467,005 shares of the company’s stock after selling 50,314 shares during the quarter. DekaBank Deutsche Girozentrale’s holdings in Colgate-Palmolive were worth $130,399,000 at the end of the most recent quarter.

Other institutional investors have also bought and sold shares of the company. Personal CFO Solutions LLC bought a new stake in Colgate-Palmolive during the first quarter valued at $285,000. Vision Capital Management Inc. acquired a new position in shares of Colgate-Palmolive during the first quarter valued at about $322,000. Financial Gravity Asset Management Inc. acquired a new position in shares of Colgate-Palmolive during the first quarter valued at about $2,166,000. Penserra Capital Management LLC raised its holdings in shares of Colgate-Palmolive by 398.6% during the first quarter. Penserra Capital Management LLC now owns 10,651 shares of the company’s stock valued at $997,000 after purchasing an additional 8,515 shares during the period. Finally, Pure Financial Advisors LLC raised its holdings in shares of Colgate-Palmolive by 57.1% during the first quarter. Pure Financial Advisors LLC now owns 7,942 shares of the company’s stock valued at $744,000 after purchasing an additional 2,886 shares during the period. Institutional investors own 80.41% of the company’s stock.

Colgate-Palmolive Trading Down 0.5%

CL opened at $78.76 on Tuesday. 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 fifty-two week low of $76.68 and a fifty-two week high of $100.49. The firm has a market capitalization of $63.65 billion, a PE ratio of 22.12, a P/E/G ratio of 4.64 and a beta of 0.34. The company’s 50-day moving average is $81.85 and its 200 day moving average is $87.19.

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

Colgate-Palmolive Announces Dividend

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

Analyst Upgrades and Downgrades

Several brokerages have recently weighed in on CL. The Goldman Sachs Group dropped their price objective on shares of Colgate-Palmolive from $106.00 to $91.00 and set a “buy” rating on the stock in a report on Thursday, October 2nd. Barclays dropped their price objective on shares of Colgate-Palmolive from $87.00 to $82.00 and set an “equal weight” rating on the stock in a report on Wednesday, October 1st. Deutsche Bank Aktiengesellschaft set a $86.00 price objective on shares of Colgate-Palmolive in a report on Friday, October 10th. Morgan Stanley dropped their price objective on shares of Colgate-Palmolive from $104.00 to $96.00 and set an “overweight” rating on the stock in a report on Monday, August 4th. Finally, 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 report on Wednesday, October 8th. Eight investment 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. Based on data from MarketBeat, Colgate-Palmolive currently has an average rating of “Moderate Buy” and a consensus target price of $91.50.

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.