New York State Common Retirement Fund Sells 8,900 Shares of Colgate-Palmolive (NYSE:CL)

New York State Common Retirement Fund decreased its position in Colgate-Palmolive (NYSE:CL) by 0.8% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 1,140,895 shares of the company’s stock after selling 8,900 shares during the quarter. New York State Common Retirement Fund’s holdings in Colgate-Palmolive were worth $103,719,000 at the end of the most recent quarter.

Other institutional investors have also added to or reduced their stakes in the company. Union Bancaire Privee UBP SA bought a new position in Colgate-Palmolive in the fourth quarter worth $32,000. Hager Investment Management Services LLC bought a new position in Colgate-Palmolive in the fourth quarter worth $36,000. Reston Wealth Management LLC bought a new position in Colgate-Palmolive in the third quarter worth $42,000. Roxbury Financial LLC bought a new position in Colgate-Palmolive in the fourth quarter worth $43,000. Finally, Synergy Asset Management LLC bought a new position in Colgate-Palmolive in the fourth quarter worth $49,000. Institutional investors own 80.41% of the company’s stock.

Colgate-Palmolive Trading Up 1.1 %

Shares of NYSE:CL opened at $87.32 on Thursday. The stock has a market capitalization of $70.86 billion, a price-to-earnings ratio of 24.81, a PEG ratio of 4.10 and a beta of 0.44. The company has a debt-to-equity ratio of 13.40, a quick ratio of 0.58 and a current ratio of 0.92. The stock’s 50-day simple moving average is $89.13 and its two-hundred day simple moving average is $96.05. Colgate-Palmolive has a 52-week low of $83.70 and a 52-week high of $109.30.

Colgate-Palmolive (NYSE:CL) last announced its earnings results on Friday, January 31st. The company reported $0.91 earnings per share (EPS) for the quarter, topping the consensus estimate 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 business earned $0.87 EPS. Analysts expect that Colgate-Palmolive will post 3.76 EPS for the current year.

Colgate-Palmolive Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, February 14th. Stockholders of record on Tuesday, January 21st were paid a $0.50 dividend. This represents a $2.00 annualized dividend and a dividend yield of 2.29%. The ex-dividend date of this dividend was Tuesday, January 21st. Colgate-Palmolive’s dividend payout ratio (DPR) is currently 56.82%.

Analyst Upgrades and Downgrades

Several brokerages have recently weighed in on CL. Wells Fargo & Company reduced their price target on Colgate-Palmolive from $92.00 to $83.00 and set an “underweight” rating for the company in a report on Tuesday, January 7th. TD Cowen reduced their price target on Colgate-Palmolive from $110.00 to $100.00 and set a “buy” rating for the company in a report on Wednesday, January 8th. Piper Sandler reduced their price target on Colgate-Palmolive from $121.00 to $112.00 and set an “overweight” rating for the company in a report on Monday, January 6th. JPMorgan Chase & Co. reduced their price target on Colgate-Palmolive from $103.00 to $97.00 and set an “overweight” rating for the company in a report on Monday, February 3rd. Finally, Morgan Stanley reduced their price target on Colgate-Palmolive from $111.00 to $104.00 and set an “overweight” rating for the company in a report on Monday, February 3rd. One research analyst has rated the stock with a sell rating, ten have assigned a hold rating and twelve have issued a buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $101.16.

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.