Allspring Global Investments Holdings LLC Sells 484,474 Shares of Colgate-Palmolive Company $CL

Allspring Global Investments Holdings LLC decreased its position in shares of Colgate-Palmolive Company (NYSE:CL) by 73.0% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 179,164 shares of the company’s stock after selling 484,474 shares during the period. Allspring Global Investments Holdings LLC’s holdings in Colgate-Palmolive were worth $16,490,000 at the end of the most recent quarter.

Other large investors have also recently added to or reduced their stakes in the company. Westend Capital Management LLC increased its position in Colgate-Palmolive by 111.1% during the 1st quarter. Westend Capital Management LLC now owns 266 shares of the company’s stock worth $25,000 after buying an additional 140 shares during the period. Cornerstone Planning Group LLC increased its position in Colgate-Palmolive by 1,913.3% during the 1st quarter. Cornerstone Planning Group LLC now owns 302 shares of the company’s stock worth $28,000 after buying an additional 287 shares during the period. Saudi Central Bank bought a new position in Colgate-Palmolive during the 1st quarter worth $29,000. Ransom Advisory Ltd bought a new position in Colgate-Palmolive during the 1st quarter worth $33,000. Finally, Y.D. More Investments Ltd bought a new position in Colgate-Palmolive during the 1st quarter worth $37,000. Institutional investors own 80.41% of the company’s stock.

Colgate-Palmolive Stock Performance

NYSE:CL opened at $79.14 on Friday. The stock’s 50-day simple moving average is $81.96 and its 200 day simple moving average is $87.39. The firm has a market capitalization of $63.96 billion, a PE ratio of 22.23, a price-to-earnings-growth ratio of 4.58 and a beta of 0.34. The company has a quick ratio of 0.57, a current ratio of 0.89 and a debt-to-equity ratio of 6.79. Colgate-Palmolive Company has a twelve month low of $76.68 and a twelve month high of $100.54.

Colgate-Palmolive (NYSE:CL) last released its quarterly earnings data on Friday, August 1st. The company reported $0.92 earnings per share for the quarter, beating the consensus estimate of $0.89 by $0.03. The business had revenue of $5.11 billion for the quarter, compared to analyst estimates of $5.03 billion. Colgate-Palmolive had a return on equity of 377.63% and a net margin of 14.55%.Colgate-Palmolive’s revenue was up 1.0% compared to the same quarter last year. During the same period last year, the firm posted $0.91 earnings per share. On average, analysts anticipate that Colgate-Palmolive Company will post 3.75 EPS for the current fiscal year.

Colgate-Palmolive Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, November 14th. Investors of record on Friday, October 17th will be paid a $0.52 dividend. The ex-dividend date of this dividend is Friday, October 17th. This represents a $2.08 annualized dividend and a yield of 2.6%. Colgate-Palmolive’s dividend payout ratio (DPR) is 58.43%.

Analyst Upgrades and Downgrades

CL has been the topic of several analyst reports. Citigroup reduced their target price on Colgate-Palmolive from $108.00 to $105.00 and set a “buy” rating on the stock in a report on Monday, August 4th. Bank of America reduced their target price on Colgate-Palmolive from $98.00 to $88.00 and set a “buy” rating on the stock in a report on Wednesday, October 8th. Wells Fargo & Company reduced their target price on Colgate-Palmolive from $83.00 to $80.00 and set an “underweight” rating on the stock in a report on Thursday, September 25th. Weiss Ratings reissued a “hold (c)” rating on shares of Colgate-Palmolive in a report on Wednesday, October 8th. Finally, The Goldman Sachs Group reduced their target price on Colgate-Palmolive from $106.00 to $91.00 and set a “buy” rating on the stock in a report on Thursday, October 2nd. Eight analysts have rated the stock with a Buy rating, five have issued a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $92.21.

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.