State of Michigan Retirement System Sells 800 Shares of Colgate-Palmolive (NYSE:CL)

State of Michigan Retirement System reduced its position in Colgate-Palmolive (NYSE:CL) by 0.4% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 221,729 shares of the company’s stock after selling 800 shares during the quarter. State of Michigan Retirement System’s holdings in Colgate-Palmolive were worth $20,157,000 at the end of the most recent quarter.

Other hedge funds also recently bought and sold shares of the company. Kohmann Bosshard Financial Services LLC purchased a new stake in Colgate-Palmolive in the 4th quarter worth approximately $26,000. Centricity Wealth Management LLC bought a new position in shares of Colgate-Palmolive in the fourth quarter worth $27,000. Union Bancaire Privee UBP SA purchased a new stake in shares of Colgate-Palmolive in the fourth quarter worth $32,000. Bernard Wealth Management Corp. bought a new stake in Colgate-Palmolive during the fourth quarter valued at $36,000. Finally, Roxbury Financial LLC purchased a new position in Colgate-Palmolive during the fourth quarter worth about $43,000. Hedge funds and other institutional investors own 80.41% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on CL. TD Cowen lowered their price target on Colgate-Palmolive from $110.00 to $100.00 and set a “buy” rating on the stock in a report on Wednesday, January 8th. StockNews.com raised shares of Colgate-Palmolive from a “hold” rating to a “buy” rating in a research note on Monday. JPMorgan Chase & Co. cut their price target on shares of Colgate-Palmolive from $103.00 to $97.00 and set an “overweight” rating for the company in a research note on Monday, February 3rd. Royal Bank of Canada reissued a “sector perform” rating and issued a $101.00 price target on shares of Colgate-Palmolive in a report on Wednesday, January 29th. Finally, Barclays dropped their price objective on shares of Colgate-Palmolive from $96.00 to $83.00 and set an “equal weight” rating for the company in a report on Friday, January 17th. One research analyst has rated the stock with a sell rating, nine have assigned a hold rating and twelve have given a buy rating to the company. According to data from MarketBeat.com, Colgate-Palmolive currently has a consensus rating of “Moderate Buy” and an average target price of $101.61.

Colgate-Palmolive Stock Down 1.9 %

CL opened at $91.09 on Wednesday. Colgate-Palmolive has a 12 month low of $85.32 and a 12 month high of $109.30. The company has a current ratio of 0.92, a quick ratio of 0.58 and a debt-to-equity ratio of 13.40. The business’s 50-day moving average price is $88.73 and its 200-day moving average price is $95.29. The company has a market cap of $73.92 billion, a P/E ratio of 25.88, a P/E/G ratio of 4.20 and a beta of 0.44.

Colgate-Palmolive (NYSE:CL) last announced its quarterly earnings results on Friday, January 31st. The company reported $0.91 EPS for the quarter, topping analysts’ consensus estimates of $0.90 by $0.01. Colgate-Palmolive had a return on equity of 477.77% and a net margin of 14.38%. During the same period in the previous year, the company posted $0.87 EPS. On average, equities analysts expect that Colgate-Palmolive will post 3.75 EPS for the current year.

Colgate-Palmolive Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, February 14th. Investors of record on Tuesday, January 21st were issued a dividend of $0.50 per share. The ex-dividend date was Tuesday, January 21st. This represents a $2.00 dividend on an annualized basis and a yield of 2.20%. Colgate-Palmolive’s dividend payout ratio is currently 56.82%.

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.