Fifth Third Bancorp reduced its position in Colgate-Palmolive Company (NYSE:CL – Free Report) by 1.6% in the 2nd quarter, according to its most recent filing with the SEC. The firm owned 467,085 shares of the company’s stock after selling 7,607 shares during the period. Fifth Third Bancorp’s holdings in Colgate-Palmolive were worth $42,822,000 at the end of the most recent reporting period.
Several other large investors have also made changes to their positions in CL. Teacher Retirement System of Texas raised its holdings in Colgate-Palmolive by 35.3% during the 4th quarter. Teacher Retirement System of Texas now owns 469,624 shares of the company’s stock worth $37,110,000 after purchasing an additional 122,634 shares during the last quarter. Flputnam Investment Management Co. boosted its stake in shares of Colgate-Palmolive by 7.4% in the 4th quarter. Flputnam Investment Management Co. now owns 200,972 shares of the company’s stock valued at $15,881,000 after purchasing an additional 13,804 shares during the last quarter. SEB Asset Management AB acquired a new stake in shares of Colgate-Palmolive during the 1st quarter worth approximately $91,149,000. Caprock Group LLC grew its position in shares of Colgate-Palmolive by 116.5% during the 4th quarter. Caprock Group LLC now owns 64,808 shares of the company’s stock worth $5,121,000 after buying an additional 34,879 shares during the period. Finally, Conning Inc. raised its stake in shares of Colgate-Palmolive by 10.2% during the fourth quarter. Conning Inc. now owns 426,753 shares of the company’s stock worth $33,722,000 after buying an additional 39,655 shares during the last quarter. Institutional investors and hedge funds own 80.41% of the company’s stock.
Analyst Ratings Changes
Several brokerages recently weighed in on CL. The Goldman Sachs Group restated a “buy” rating on shares of Colgate-Palmolive in a report on Friday, May 1st. Barclays upped their target price on shares of Colgate-Palmolive from $80.00 to $87.00 and gave the company an “equal weight” rating in a research report on Tuesday, July 21st. Rothschild & Co Redburn set a $100.00 price target on Colgate-Palmolive and gave the company a “buy” rating in a research note on Tuesday, April 21st. Royal Bank Of Canada raised their price target on Colgate-Palmolive from $102.00 to $104.00 and gave the stock an “outperform” rating in a research report on Monday, August 3rd. Finally, Piper Sandler boosted their target price on Colgate-Palmolive from $92.00 to $96.00 and gave the stock an “overweight” rating in a research report on Thursday, July 9th. Twelve analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $99.00.
Colgate-Palmolive Stock Performance
CL stock opened at $91.90 on Friday. Colgate-Palmolive Company has a 1-year low of $74.54 and a 1-year high of $99.33. The company has a current ratio of 1.03, a quick ratio of 0.67 and a debt-to-equity ratio of 13.82. The firm has a market cap of $73.26 billion, a PE ratio of 36.47, a P/E/G ratio of 4.49 and a beta of 0.33. The business’s 50-day moving average price is $91.67 and its two-hundred day moving average price is $89.99.
Colgate-Palmolive (NYSE:CL – Get Free Report) last announced its quarterly earnings results on Friday, July 31st. The company reported $0.99 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.95 by $0.04. The company had revenue of $5.36 billion during the quarter, compared to the consensus estimate of $5.36 billion. Colgate-Palmolive had a return on equity of 464.63% and a net margin of 9.68%.The company’s revenue for the quarter was up 4.9% compared to the same quarter last year. During the same period in the prior year, the company earned $0.92 earnings per share. As a group, research analysts forecast that Colgate-Palmolive Company will post 3.86 earnings per share for the current year.
Colgate-Palmolive Announces Dividend
The firm also recently announced a quarterly dividend, which was paid on Friday, August 14th. Investors of record on Monday, July 20th were paid a dividend of $0.53 per share. 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, July 20th. Colgate-Palmolive’s dividend payout ratio is presently 84.13%.
Insider Activity at Colgate-Palmolive
In other Colgate-Palmolive news, CEO Noel R. Wallace sold 161,021 shares of the firm’s stock in a transaction that occurred on Tuesday, August 4th. The shares were sold at an average price of $91.92, for a total transaction of $14,801,050.32. Following the sale, the chief executive officer directly owned 362,231 shares in the company, valued at approximately $33,296,273.52. This trade represents a 30.77% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, Director John T. Cahill sold 4,170 shares of Colgate-Palmolive stock in a transaction that occurred on Thursday, August 6th. The shares were sold at an average price of $93.37, for a total transaction of $389,352.90. Following the completion of the transaction, the director directly owned 28,373 shares in the company, valued at approximately $2,649,187.01. The trade was a 12.81% decrease in their position. The disclosure for this sale is available in the SEC filing. Company insiders own 0.43% of the company’s stock.
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.
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