Colgate-Palmolive Company $CL Position Reduced by Sumitomo Mitsui Trust Group Inc.

Sumitomo Mitsui Trust Group Inc. decreased its position in shares of Colgate-Palmolive Company (NYSE:CL) by 3.6% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,920,622 shares of the company’s stock after selling 72,557 shares during the period. Sumitomo Mitsui Trust Group Inc.’s holdings in Colgate-Palmolive were worth $174,585,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in CL. Grimes & Company Inc. lifted its position in Colgate-Palmolive by 1.0% during the 2nd quarter. Grimes & Company Inc. now owns 12,495 shares of the company’s stock worth $1,136,000 after acquiring an additional 118 shares during the last quarter. RFG Advisory LLC lifted its position in Colgate-Palmolive by 1.4% during the 2nd quarter. RFG Advisory LLC now owns 9,227 shares of the company’s stock worth $839,000 after acquiring an additional 123 shares during the last quarter. Redhawk Wealth Advisors Inc. lifted its position in Colgate-Palmolive by 2.4% during the 2nd quarter. Redhawk Wealth Advisors Inc. now owns 5,467 shares of the company’s stock worth $497,000 after acquiring an additional 129 shares during the last quarter. MONECO Advisors LLC lifted its position in Colgate-Palmolive by 2.2% during the 1st quarter. MONECO Advisors LLC now owns 6,051 shares of the company’s stock worth $567,000 after acquiring an additional 133 shares during the last quarter. Finally, Sowell Financial Services LLC raised its position in shares of Colgate-Palmolive by 2.5% during the second quarter. Sowell Financial Services LLC now owns 5,478 shares of the company’s stock valued at $498,000 after buying an additional 134 shares during the last quarter. Institutional investors own 80.41% of the company’s stock.

Colgate-Palmolive Price Performance

Shares of Colgate-Palmolive stock opened at $78.01 on Friday. The company has a current ratio of 0.89, a quick ratio of 0.57 and a debt-to-equity ratio of 6.79. The stock has a market capitalization of $63.05 billion, a price-to-earnings ratio of 21.91, a P/E/G ratio of 4.60 and a beta of 0.34. Colgate-Palmolive Company has a 1-year low of $76.68 and a 1-year high of $100.18. The firm’s 50-day moving average price is $81.33 and its two-hundred day moving average price is $86.94.

Colgate-Palmolive (NYSE:CL) last issued its quarterly earnings data on Friday, August 1st. The company reported $0.92 earnings per share for the quarter, topping the consensus estimate of $0.89 by $0.03. The firm had revenue of $5.11 billion for the quarter, compared to analysts’ expectations of $5.03 billion. Colgate-Palmolive had a net margin of 14.55% and a return on equity of 377.63%. The company’s quarterly revenue was up 1.0% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.91 earnings per share. On average, equities analysts predict that Colgate-Palmolive Company will post 3.75 earnings per share for the current fiscal year.

Colgate-Palmolive Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, November 14th. Stockholders of record on Friday, October 17th will be paid a dividend of $0.52 per share. This represents a $2.08 annualized dividend and a dividend yield of 2.7%. The ex-dividend date of this dividend is Friday, October 17th. Colgate-Palmolive’s dividend payout ratio is 58.43%.

Wall Street Analyst Weigh In

A number of research firms recently weighed in on CL. Deutsche Bank Aktiengesellschaft set a $86.00 target price on Colgate-Palmolive in a research report on Friday, October 10th. Citigroup decreased their target price on Colgate-Palmolive from $108.00 to $105.00 and set a “buy” rating on the stock in a research report on Monday, August 4th. The Goldman Sachs Group decreased their target price on Colgate-Palmolive from $106.00 to $91.00 and set a “buy” rating on the stock in a research report on Thursday, October 2nd. Raymond James Financial decreased their target price on Colgate-Palmolive from $105.00 to $95.00 and set an “outperform” rating on the stock in a research report on Monday, October 20th. Finally, Weiss Ratings reissued a “hold (c)” rating on shares of Colgate-Palmolive in a research report on Friday. 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 data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $91.50.

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.