Vienna Powszechne Towarzystwo Emerytalne S.A. Vienna Insurance Group Trims Stake in Colgate-Palmolive Company $CL

Vienna Powszechne Towarzystwo Emerytalne S.A. Vienna Insurance Group lessened its holdings in shares of Colgate-Palmolive Company (NYSE:CL) by 29.7% in the second quarter, HoldingsChannel.com reports. The fund owned 8,808 shares of the company’s stock after selling 3,725 shares during the period. Vienna Powszechne Towarzystwo Emerytalne S.A. Vienna Insurance Group’s holdings in Colgate-Palmolive were worth $801,000 at the end of the most recent reporting period.

A number of other large investors have also recently made changes to their positions in CL. Price T Rowe Associates Inc. MD raised its position in shares of Colgate-Palmolive by 18.3% in the 1st 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 in the last quarter. Nuveen LLC bought a new stake in shares of Colgate-Palmolive during the 1st quarter valued at $217,593,000. Goldman Sachs Group Inc. boosted its holdings in shares of Colgate-Palmolive by 34.5% during the 1st quarter. Goldman Sachs Group Inc. now owns 7,980,387 shares of the company’s stock valued at $747,762,000 after buying an additional 2,045,191 shares in the last quarter. Diamond Hill Capital Management Inc. boosted its stake in Colgate-Palmolive by 45.0% during the first quarter. Diamond Hill Capital Management Inc. now owns 5,562,968 shares of the company’s stock worth $521,250,000 after acquiring an additional 1,727,105 shares in the last quarter. Finally, VIRGINIA RETIREMENT SYSTEMS ET Al bought a new stake in Colgate-Palmolive during the second quarter worth about $83,837,000. 80.41% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

CL has been the topic of several analyst reports. Deutsche Bank Aktiengesellschaft set a $86.00 price objective on Colgate-Palmolive in a research report on Friday, October 10th. Bank of America lowered their price target on Colgate-Palmolive from $98.00 to $88.00 and set a “buy” rating on the stock in a report on Wednesday, October 8th. Raymond James Financial lowered their target price on Colgate-Palmolive from $105.00 to $95.00 and set an “outperform” rating on the stock in a report on Monday, October 20th. Wells Fargo & Company lowered their target price on Colgate-Palmolive from $83.00 to $80.00 and set an “underweight” rating on the stock in a report on Thursday, September 25th. Finally, Weiss Ratings reiterated a “hold (c)” rating on shares of Colgate-Palmolive in a research note on Friday. Eight analysts have rated the stock with a Buy rating, five have given a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $91.50.

Colgate-Palmolive Stock Down 0.6%

Shares of CL opened at $78.01 on Monday. The stock’s 50 day moving average is $81.33 and its two-hundred day moving average is $86.90. Colgate-Palmolive Company has a 12 month low of $76.68 and a 12 month high of $100.18. The firm has a market cap of $63.05 billion, a P/E ratio of 21.91, a PEG ratio of 4.58 and a beta of 0.34. The company has a current ratio of 0.89, a quick ratio of 0.57 and a debt-to-equity ratio of 6.79.

Colgate-Palmolive (NYSE:CL) last announced its quarterly earnings results on Friday, August 1st. The company reported $0.92 earnings per share for the quarter, beating 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 revenue was up 1.0% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.91 EPS. Analysts predict that Colgate-Palmolive Company will post 3.75 earnings per share for the current fiscal year.

Colgate-Palmolive Dividend Announcement

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

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.