J. Safra Sarasin Holding AG Sells 145,570 Shares of Colgate-Palmolive Company $CL

J. Safra Sarasin Holding AG lowered its stake in Colgate-Palmolive Company (NYSE:CL) by 16.6% during the 2nd quarter, HoldingsChannel.com reports. The fund owned 733,299 shares of the company’s stock after selling 145,570 shares during the quarter. Colgate-Palmolive makes up 1.2% of J. Safra Sarasin Holding AG’s portfolio, making the stock its 25th biggest holding. J. Safra Sarasin Holding AG’s holdings in Colgate-Palmolive were worth $66,651,000 at the end of the most recent reporting period.

Several other large investors have also added to or reduced their stakes in the stock. Lecap Asset Management Ltd. bought a new stake in shares of Colgate-Palmolive during the 2nd quarter valued at $2,881,000. AMI Asset Management Corp boosted its holdings in shares of Colgate-Palmolive by 39.9% during the 2nd quarter. AMI Asset Management Corp now owns 537,438 shares of the company’s stock valued at $48,853,000 after buying an additional 153,254 shares in the last quarter. Pure Financial Advisors LLC boosted its holdings in shares of Colgate-Palmolive by 30.0% during the 2nd quarter. Pure Financial Advisors LLC now owns 10,327 shares of the company’s stock valued at $939,000 after buying an additional 2,385 shares in the last quarter. Precision Wealth Strategies LLC bought a new stake in shares of Colgate-Palmolive during the 2nd quarter valued at $285,000. Finally, Trust Co. of Vermont boosted its stake in Colgate-Palmolive by 3.5% in the 2nd quarter. Trust Co. of Vermont now owns 21,345 shares of the company’s stock worth $1,940,000 after purchasing an additional 725 shares in the last quarter. Institutional investors own 80.41% of the company’s stock.

Colgate-Palmolive Stock Performance

CL opened at $78.95 on Thursday. The firm has a market cap of $63.81 billion, a P/E ratio of 22.18, a PEG ratio of 4.16 and a beta of 0.34. Colgate-Palmolive Company has a 1-year low of $78.76 and a 1-year high of $102.61. The company has a 50 day simple moving average of $83.69 and a two-hundred day simple moving average of $88.50. The company has a debt-to-equity ratio of 6.79, a current ratio of 0.89 and a quick ratio of 0.57.

Colgate-Palmolive (NYSE:CL) last posted its quarterly earnings results 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. 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 during the quarter, compared to the consensus estimate of $5.03 billion. During the same period in the prior year, the company posted $0.91 EPS. The firm’s revenue for the quarter was up 1.0% compared to the same quarter last year. Equities analysts forecast that Colgate-Palmolive Company will post 3.75 earnings per share for the current fiscal year.

Colgate-Palmolive Announces Dividend

The firm also recently declared 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. This represents a $2.08 annualized dividend and a yield of 2.6%. The ex-dividend date is Friday, October 17th. Colgate-Palmolive’s dividend payout ratio is presently 58.43%.

Analysts Set New Price Targets

A number of equities analysts recently issued reports on CL shares. JPMorgan Chase & Co. dropped their price target on shares of Colgate-Palmolive from $99.00 to $95.00 and set an “overweight” rating on the stock in a research note on Monday, August 4th. Morgan Stanley dropped their price target on shares of Colgate-Palmolive from $104.00 to $96.00 and set an “overweight” rating on the stock in a research note on Monday, August 4th. Citigroup dropped their price target on shares of Colgate-Palmolive from $108.00 to $105.00 and set a “buy” rating on the stock in a research note on Monday, August 4th. UBS Group dropped their price target on shares of Colgate-Palmolive from $109.00 to $106.00 and set a “buy” rating on the stock in a research note on Thursday, July 17th. Finally, Barclays dropped their price target on shares of Colgate-Palmolive from $87.00 to $82.00 and set an “equal weight” rating on the stock in a research note on Wednesday. Seven analysts have rated the stock with a Buy rating, three have given a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $97.27.

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.