Employees Retirement System of Texas Has $2.34 Million Holdings in Colgate-Palmolive Company $CL

Employees Retirement System of Texas lowered its position in Colgate-Palmolive Company (NYSE:CL) by 96.7% during the fourth quarter, Holdings Channel reports. The firm owned 29,556 shares of the company’s stock after selling 870,287 shares during the period. Employees Retirement System of Texas’ holdings in Colgate-Palmolive were worth $2,336,000 at the end of the most recent quarter.

A number of other institutional investors also recently modified their holdings of CL. Providence Capital Advisors LLC acquired a new position in shares of Colgate-Palmolive during the 3rd quarter valued at $5,373,000. ProShare Advisors LLC grew its holdings in Colgate-Palmolive by 11.0% in the third quarter. ProShare Advisors LLC now owns 2,047,542 shares of the company’s stock worth $163,681,000 after purchasing an additional 202,379 shares during the period. Envestnet Asset Management Inc. increased its stake in Colgate-Palmolive by 18.0% in the third quarter. Envestnet Asset Management Inc. now owns 800,554 shares of the company’s stock valued at $63,996,000 after purchasing an additional 122,202 shares in the last quarter. Citigroup Inc. increased its stake in Colgate-Palmolive by 43.7% in the third quarter. Citigroup Inc. now owns 1,346,590 shares of the company’s stock valued at $107,646,000 after purchasing an additional 409,710 shares in the last quarter. Finally, TD Waterhouse Canada Inc. raised its holdings in shares of Colgate-Palmolive by 248.5% during the third quarter. TD Waterhouse Canada Inc. now owns 87,410 shares of the company’s stock valued at $6,909,000 after purchasing an additional 62,327 shares during the period. 80.41% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several research analysts have issued reports on the company. Royal Bank Of Canada reiterated an “outperform” rating and issued a $102.00 price target on shares of Colgate-Palmolive in a report on Monday, May 4th. Evercore upped their target price on Colgate-Palmolive from $94.00 to $100.00 and gave the stock an “outperform” rating in a research report on Monday, February 2nd. Rothschild & Co Redburn set a $100.00 price target on shares of Colgate-Palmolive and gave the company a “buy” rating in a research report on Tuesday, April 21st. Barclays boosted their price target on shares of Colgate-Palmolive from $79.00 to $80.00 and gave the company an “equal weight” rating in a research note on Tuesday, May 5th. Finally, UBS Group upped their price objective on shares of Colgate-Palmolive from $98.00 to $100.00 and gave the stock a “buy” rating in a report on Monday, May 4th. Twelve analysts have rated the stock with a Buy rating and six have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, Colgate-Palmolive presently has an average rating of “Moderate Buy” and an average price target of $95.88.

Colgate-Palmolive Price Performance

Shares of NYSE:CL opened at $91.24 on Thursday. The company has a current ratio of 1.02, a quick ratio of 0.67 and a debt-to-equity ratio of 16.33. The stock has a market cap of $73.01 billion, a PE ratio of 35.50, a price-to-earnings-growth ratio of 4.67 and a beta of 0.31. The stock’s fifty day simple moving average is $86.20 and its two-hundred day simple moving average is $85.51. Colgate-Palmolive Company has a 1-year low of $74.54 and a 1-year high of $99.33.

Colgate-Palmolive (NYSE:CL) last posted its earnings results on Friday, May 1st. The company reported $0.97 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.94 by $0.03. The firm had revenue of $5.32 billion during the quarter, compared to analyst estimates of $5.22 billion. Colgate-Palmolive had a net margin of 10.04% and a return on equity of 386.76%. The business’s revenue was up 8.4% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.91 EPS. As a group, analysts forecast that Colgate-Palmolive Company will post 3.82 EPS for the current fiscal year.

Colgate-Palmolive Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, May 15th. Shareholders of record on Monday, April 20th were given a $0.53 dividend. This represents a $2.12 dividend on an annualized basis and a yield of 2.3%. The ex-dividend date of this dividend was Monday, April 20th. This is a positive change from Colgate-Palmolive’s previous quarterly dividend of $0.52. Colgate-Palmolive’s payout ratio is currently 82.49%.

Colgate-Palmolive Company 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.