Stonehage Fleming Financial Services Holdings Ltd Sells 371,924 Shares of Colgate-Palmolive Company $CL

Stonehage Fleming Financial Services Holdings Ltd cut its holdings in shares of Colgate-Palmolive Company (NYSE:CL) by 99.3% during the 3rd quarter, HoldingsChannel reports. The institutional investor owned 2,565 shares of the company’s stock after selling 371,924 shares during the quarter. Stonehage Fleming Financial Services Holdings Ltd’s holdings in Colgate-Palmolive were worth $205,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also added to or reduced their stakes in the company. Vanguard Group Inc. increased its position in shares of Colgate-Palmolive by 1.2% during the 2nd quarter. Vanguard Group Inc. now owns 82,751,689 shares of the company’s stock valued at $7,522,129,000 after purchasing an additional 993,432 shares during the last quarter. Norges Bank bought a new stake in shares of Colgate-Palmolive during the 2nd quarter valued at $960,390,000. Invesco Ltd. boosted its stake in shares of Colgate-Palmolive by 9.1% in the second quarter. Invesco Ltd. now owns 7,489,050 shares of the company’s stock worth $680,755,000 after acquiring an additional 621,841 shares during the period. Acadian Asset Management LLC raised its position in shares of Colgate-Palmolive by 42.9% during the second quarter. Acadian Asset Management LLC now owns 6,124,347 shares of the company’s stock valued at $556,663,000 after buying an additional 1,839,853 shares during the last quarter. Finally, Schroder Investment Management Group increased its holdings in Colgate-Palmolive by 242.3% in the 2nd quarter. Schroder Investment Management Group now owns 5,324,115 shares of the company’s stock valued at $483,962,000 after acquiring an additional 3,768,784 shares during the last quarter. 80.41% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several equities research analysts have weighed in on the company. 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 dropped their price objective on Colgate-Palmolive from $105.00 to $95.00 and set a “buy” rating for the company in a report on Monday, November 3rd. Piper Sandler set a $88.00 price objective on Colgate-Palmolive and gave the company an “overweight” rating in a research report on Tuesday, January 6th. Raymond James Financial decreased their target price on Colgate-Palmolive from $105.00 to $95.00 and set an “outperform” rating for the company in a research report on Monday, October 20th. Finally, Bank of America lowered their target price on shares of Colgate-Palmolive from $98.00 to $88.00 and set a “buy” rating for the company in a research note on Wednesday, October 8th. Eleven equities research analysts have rated the stock with a Buy rating and five have given a Hold rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $89.44.

Colgate-Palmolive Trading Up 0.8%

Colgate-Palmolive stock opened at $85.86 on Wednesday. The company has a debt-to-equity ratio of 5.90, a quick ratio of 0.60 and a current ratio of 0.93. Colgate-Palmolive Company has a one year low of $74.54 and a one year high of $100.18. The stock has a market cap of $69.21 billion, a PE ratio of 24.05, a price-to-earnings-growth ratio of 5.75 and a beta of 0.30. The stock has a 50-day moving average of $80.32 and a two-hundred day moving average of $81.37.

Colgate-Palmolive (NYSE:CL) last announced its quarterly earnings data on Friday, October 31st. The company reported $0.91 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.89 by $0.02. Colgate-Palmolive had a return on equity of 333.39% and a net margin of 14.47%.The firm had revenue of $5.13 billion during the quarter, compared to analysts’ expectations of $5.17 billion. During the same period last year, the business posted $0.91 earnings per share. The company’s revenue for the quarter was up 1.9% compared to the same quarter last year. On average, research analysts anticipate 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, February 13th. Investors of record on Wednesday, January 21st will be paid a $0.52 dividend. This represents a $2.08 annualized dividend and a dividend yield of 2.4%. The ex-dividend date is Wednesday, January 21st. Colgate-Palmolive’s payout ratio is currently 58.26%.

About Colgate-Palmolive

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.