GWN Securities Inc. Reduces Holdings in Colgate-Palmolive Company $CL

GWN Securities Inc. cut its holdings in shares of Colgate-Palmolive Company (NYSE:CL) by 30.4% during the 2nd quarter, Holdings Channel.com reports. The firm owned 3,063 shares of the company’s stock after selling 1,339 shares during the quarter. GWN Securities Inc.’s holdings in Colgate-Palmolive were worth $283,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors have also recently modified their holdings of CL. Vanguard Group Inc. boosted its holdings in Colgate-Palmolive by 0.6% in the 1st quarter. Vanguard Group Inc. now owns 81,758,257 shares of the company’s stock worth $7,660,749,000 after buying an additional 455,198 shares during the period. Price T Rowe Associates Inc. MD boosted its holdings in shares of Colgate-Palmolive by 18.3% in 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 period. Goldman Sachs Group Inc. grew its position in shares of Colgate-Palmolive by 34.5% in the first quarter. Goldman Sachs Group Inc. now owns 7,980,387 shares of the company’s stock valued at $747,762,000 after purchasing an additional 2,045,191 shares in the last quarter. Deutsche Bank AG raised its stake in shares of Colgate-Palmolive by 3.7% during the 1st quarter. Deutsche Bank AG now owns 7,176,598 shares of the company’s stock valued at $672,447,000 after purchasing an additional 253,604 shares during the period. Finally, Ameriprise Financial Inc. lifted its holdings in Colgate-Palmolive by 2.6% during the 1st quarter. Ameriprise Financial Inc. now owns 6,976,654 shares of the company’s stock worth $653,761,000 after purchasing an additional 177,833 shares in the last quarter. Hedge funds and other institutional investors own 80.41% of the company’s stock.

Analysts Set New Price Targets

CL has been the subject of several recent analyst reports. Raymond James Financial reduced their price objective on shares of Colgate-Palmolive from $105.00 to $95.00 and set an “outperform” rating for the company in a research note on Monday, October 20th. Bank of America cut their price target on shares of Colgate-Palmolive from $98.00 to $88.00 and set a “buy” rating for the company in a report on Wednesday, October 8th. Deutsche Bank Aktiengesellschaft set a $86.00 price target on shares of Colgate-Palmolive in a report on Friday, October 10th. Morgan Stanley dropped their price objective on Colgate-Palmolive from $104.00 to $96.00 and set an “overweight” rating for the company in a research note on Monday, August 4th. Finally, Weiss Ratings restated a “hold (c)” rating on shares of Colgate-Palmolive in a research note on Wednesday, October 8th. Eight research analysts have rated the stock with a Buy rating, five have given a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $91.50.

Colgate-Palmolive Stock Performance

NYSE CL opened at $75.61 on Thursday. Colgate-Palmolive Company has a 52-week low of $75.38 and a 52-week high of $100.18. The company has a fifty day moving average of $80.82 and a 200-day moving average of $86.58. The company has a market capitalization of $61.11 billion, a P/E ratio of 21.24, a P/E/G ratio of 4.53 and a beta of 0.34. The company has a debt-to-equity ratio of 6.79, a quick ratio of 0.57 and a current ratio of 0.89.

Colgate-Palmolive (NYSE:CL) last released its quarterly earnings results on Friday, August 1st. The company reported $0.92 earnings per share 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 business had revenue of $5.11 billion for the quarter, compared to the consensus estimate of $5.03 billion. During the same quarter last year, the business posted $0.91 earnings per share. The company’s revenue for the quarter was up 1.0% on a year-over-year basis. As a group, equities research analysts predict that Colgate-Palmolive Company will post 3.75 EPS for the current fiscal year.

Colgate-Palmolive Announces Dividend

The company also recently announced 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 of this dividend is Friday, October 17th. This represents a $2.08 annualized dividend and a yield of 2.8%. Colgate-Palmolive’s dividend payout ratio is currently 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.