OVERSEA CHINESE BANKING Corp Ltd Sells 6,785 Shares of Colgate-Palmolive Company $CL

OVERSEA CHINESE BANKING Corp Ltd cut its holdings in shares of Colgate-Palmolive Company (NYSE:CL) by 49.1% during the 3rd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 7,028 shares of the company’s stock after selling 6,785 shares during the quarter. OVERSEA CHINESE BANKING Corp Ltd’s holdings in Colgate-Palmolive were worth $562,000 at the end of the most recent quarter.

Other institutional investors also recently made changes to their positions in the company. Westside Investment Management Inc. raised its position in Colgate-Palmolive by 85.5% in the 2nd quarter. Westside Investment Management Inc. now owns 282 shares of the company’s stock worth $26,000 after purchasing an additional 130 shares during the period. Vermillion & White Wealth Management Group LLC grew its stake in shares of Colgate-Palmolive by 86.1% during the second quarter. Vermillion & White Wealth Management Group LLC now owns 335 shares of the company’s stock valued at $30,000 after buying an additional 155 shares during the last quarter. MTM Investment Management LLC purchased a new position in shares of Colgate-Palmolive in the second quarter worth about $39,000. Atticus Wealth Management LLC lifted its stake in shares of Colgate-Palmolive by 156.8% in the 2nd quarter. Atticus Wealth Management LLC now owns 488 shares of the company’s stock valued at $44,000 after acquiring an additional 298 shares during the last quarter. Finally, Twin Peaks Wealth Advisors LLC purchased a new stake in Colgate-Palmolive during the 2nd quarter valued at about $44,000. Hedge funds and other institutional investors own 80.41% of the company’s stock.

Colgate-Palmolive Trading Down 0.3%

NYSE:CL opened at $84.32 on Friday. The company has a 50-day moving average price of $79.28 and a 200-day moving average price of $81.86. The stock has a market cap of $67.97 billion, a price-to-earnings ratio of 23.62, a P/E/G ratio of 5.73 and a beta of 0.30. The company has a current ratio of 0.93, a quick ratio of 0.60 and a debt-to-equity ratio of 5.90. Colgate-Palmolive Company has a 12 month low of $74.54 and a 12 month high of $100.18.

Colgate-Palmolive (NYSE:CL) last released its quarterly earnings results on Friday, October 31st. The company reported $0.91 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.89 by $0.02. Colgate-Palmolive had a net margin of 14.47% and a return on equity of 333.39%. The company had revenue of $5.13 billion during the quarter, compared to the consensus estimate of $5.17 billion. During the same period in the prior year, the firm earned $0.91 earnings per share. Colgate-Palmolive’s revenue was up 1.9% on a year-over-year basis. Equities analysts predict that Colgate-Palmolive Company will post 3.75 EPS for the current year.

Colgate-Palmolive Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, February 13th. Stockholders of record on Wednesday, January 21st will be paid a $0.52 dividend. This represents a $2.08 dividend on an annualized basis and a dividend yield of 2.5%. The ex-dividend date is Wednesday, January 21st. Colgate-Palmolive’s dividend payout ratio (DPR) is presently 58.26%.

Analysts Set New Price Targets

Several analysts have weighed in on the company. TD Cowen lowered their price objective on Colgate-Palmolive from $90.00 to $86.00 and set a “buy” rating for the company in a research report on Thursday, January 8th. Jefferies Financial Group set a $85.00 target price on shares of Colgate-Palmolive in a research note on Tuesday, December 16th. Raymond James Financial dropped their price target on shares of Colgate-Palmolive from $105.00 to $95.00 and set an “outperform” rating for the company in a research report on Monday, October 20th. Argus restated a “hold” rating on shares of Colgate-Palmolive in a research report on Thursday, December 11th. Finally, The Goldman Sachs Group lowered their price objective on shares of Colgate-Palmolive from $106.00 to $91.00 and set a “buy” rating for the company in a research note on Thursday, October 2nd. Eleven investment analysts have rated the stock with a Buy rating and five have issued a Hold rating to the stock. According to data from MarketBeat, Colgate-Palmolive presently has an average rating of “Moderate Buy” and a consensus target price of $88.94.

Colgate-Palmolive Profile

Colgate-Palmolive Company is a global consumer products company with a long history in household and personal care categories. The business traces its roots to the early 19th century and has evolved into a multinational manufacturer and marketer of everyday consumer goods focused on health, hygiene and home care.

The company’s core activities center on oral care, personal care, home care and pet nutrition. Its product portfolio includes toothpaste, toothbrushes and mouthwash in oral care; soaps, body washes and deodorants in personal care; dishwashing liquids, surface cleaners and other household products in home care; and scientifically formulated pet foods under its pet nutrition business.