iA Global Asset Management Inc. Cuts Stake in Colgate-Palmolive Company $CL

iA Global Asset Management Inc. reduced its stake in shares of Colgate-Palmolive Company (NYSE:CL) by 70.2% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 48,519 shares of the company’s stock after selling 114,525 shares during the quarter. iA Global Asset Management Inc.’s holdings in Colgate-Palmolive were worth $4,410,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds have also recently modified their holdings of CL. Cornerstone Planning Group LLC grew its holdings in shares of Colgate-Palmolive by 1,913.3% in the first quarter. Cornerstone Planning Group LLC now owns 302 shares of the company’s stock valued at $28,000 after purchasing an additional 287 shares in the last quarter. Saudi Central Bank purchased a new position in shares of Colgate-Palmolive in the first quarter valued at $29,000. Ransom Advisory Ltd purchased a new position in shares of Colgate-Palmolive in the first quarter valued at $33,000. Harel Insurance Investments & Financial Services Ltd. purchased a new position in shares of Colgate-Palmolive in the first quarter valued at $37,000. Finally, Y.D. More Investments Ltd purchased a new position in shares of Colgate-Palmolive in the first quarter valued at $37,000. 80.41% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

CL has been the subject of a number of recent research reports. Morgan Stanley cut their target price on shares of 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 cut their target price on shares of Colgate-Palmolive from $99.00 to $92.00 and set a “buy” rating for the company in a report on Wednesday, October 8th. Bank of America lowered their price target on Colgate-Palmolive from $98.00 to $88.00 and set a “buy” rating for the company in a research report on Wednesday, October 8th. Barclays lowered their price target on Colgate-Palmolive from $87.00 to $82.00 and set an “equal weight” rating for the company in a research report on Wednesday, October 1st. Finally, The Goldman Sachs Group lowered their price target on Colgate-Palmolive from $106.00 to $91.00 and set a “buy” rating for the company in a research report on Thursday, October 2nd. Eight research analysts have rated the stock with a Buy rating, five have issued a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $91.50.

Colgate-Palmolive Stock Up 0.8%

NYSE:CL opened at $77.10 on Monday. Colgate-Palmolive Company has a twelve month low of $74.62 and a twelve month high of $100.18. The company has a market cap of $62.32 billion, a price-to-earnings ratio of 21.66, a price-to-earnings-growth ratio of 4.44 and a beta of 0.34. The stock has a fifty day simple moving average of $80.45 and a 200-day simple moving average of $86.28. 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 released its earnings results on Friday, October 31st. The company reported $0.91 earnings per share for the quarter, topping the consensus estimate of $0.89 by $0.02. Colgate-Palmolive had a return on equity of 377.63% and a net margin of 14.55%.The business had revenue of $5.13 billion during the quarter, compared to the consensus estimate of $5.17 billion. During the same period last year, the company earned $0.91 earnings per share. The business’s revenue for the quarter was up 1.9% compared to the same quarter last year. Analysts anticipate that Colgate-Palmolive Company will post 3.75 EPS for the current year.

Colgate-Palmolive Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, November 14th. Stockholders of record on Friday, October 17th will be given 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 is Friday, October 17th. Colgate-Palmolive’s dividend payout ratio (DPR) is 58.26%.

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.