Railway Pension Investments Ltd Sells 71,800 Shares of Colgate-Palmolive Company $CL

Railway Pension Investments Ltd lessened its stake in shares of Colgate-Palmolive Company (NYSE:CL) by 8.3% in the 2nd quarter, HoldingsChannel.com reports. The fund owned 792,609 shares of the company’s stock after selling 71,800 shares during the period. Railway Pension Investments Ltd’s holdings in Colgate-Palmolive were worth $72,048,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also bought and sold shares of CL. Westside Investment Management Inc. lifted its position in Colgate-Palmolive by 85.5% during the 2nd quarter. Westside Investment Management Inc. now owns 282 shares of the company’s stock worth $26,000 after acquiring an additional 130 shares during the last quarter. Saudi Central Bank acquired a new position in Colgate-Palmolive in the first quarter valued at about $29,000. Vermillion & White Wealth Management Group LLC grew its stake in Colgate-Palmolive by 86.1% during the second quarter. Vermillion & White Wealth Management Group LLC now owns 335 shares of the company’s stock worth $30,000 after buying an additional 155 shares during the last quarter. Ransom Advisory Ltd acquired a new stake in shares of Colgate-Palmolive during the first quarter worth approximately $33,000. Finally, Y.D. More Investments Ltd acquired a new stake in shares of Colgate-Palmolive during the first quarter worth approximately $37,000. 80.41% of the stock is currently owned by institutional investors and hedge funds.

Colgate-Palmolive Stock Up 1.2%

Shares of NYSE CL opened at $80.99 on Friday. Colgate-Palmolive Company has a 1 year low of $74.54 and a 1 year high of $100.18. The firm’s 50-day moving average is $78.57 and its 200-day moving average is $84.46. The company has a current ratio of 0.89, a quick ratio of 0.57 and a debt-to-equity ratio of 6.79. The firm has a market capitalization of $65.28 billion, a PE ratio of 22.75, a price-to-earnings-growth ratio of 4.44 and a beta of 0.35.

Colgate-Palmolive (NYSE:CL) last posted its quarterly earnings results on Friday, October 31st. The company reported $0.91 earnings per share for the quarter, topping analysts’ consensus estimates of $0.89 by $0.02. Colgate-Palmolive had a net margin of 14.55% and a return on equity of 377.63%. The business had revenue of $5.13 billion during the quarter, compared to the consensus estimate of $5.17 billion. During the same period in the previous year, the firm posted $0.91 earnings per share. Colgate-Palmolive’s revenue for the quarter was up 1.9% compared to the same quarter last year. Equities analysts expect that Colgate-Palmolive Company will post 3.75 EPS for the current year.

Colgate-Palmolive Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, November 14th. Stockholders of record on Friday, October 17th were paid a $0.52 dividend. The ex-dividend date of this dividend was Friday, October 17th. This represents a $2.08 dividend on an annualized basis and a dividend yield of 2.6%. Colgate-Palmolive’s dividend payout ratio is 58.26%.

Analyst Ratings Changes

Several brokerages have recently commented on CL. Piper Sandler assumed coverage on Colgate-Palmolive in a report on Friday, October 3rd. They issued a “neutral” rating and a $84.00 target price on the stock. Morgan Stanley reduced their price objective on Colgate-Palmolive from $96.00 to $87.00 and set an “overweight” rating on the stock in a research note on Monday, November 3rd. Citigroup lowered their target price on Colgate-Palmolive from $105.00 to $95.00 and set a “buy” rating for the company in a research note on Monday, November 3rd. Bank of America reduced their price target on shares of Colgate-Palmolive from $98.00 to $88.00 and set a “buy” rating on the stock in a research report on Wednesday, October 8th. Finally, Weiss Ratings restated a “hold (c)” rating on shares of Colgate-Palmolive in a research report on Wednesday, October 8th. Nine analysts have rated the stock with a Buy rating, five have given a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $89.87.

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.