US Bancorp DE Sells 10,916 Shares of Colgate-Palmolive Company $CL

US Bancorp DE lowered its holdings in shares of Colgate-Palmolive Company (NYSE:CL) by 3.0% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 351,322 shares of the company’s stock after selling 10,916 shares during the period. US Bancorp DE’s holdings in Colgate-Palmolive were worth $31,935,000 at the end of the most recent reporting period.

Other hedge funds have also bought and sold shares of the company. Westend Capital Management LLC boosted its stake in Colgate-Palmolive by 111.1% during the first quarter. Westend Capital Management LLC now owns 266 shares of the company’s stock worth $25,000 after acquiring an additional 140 shares in the last quarter. Cornerstone Planning Group LLC lifted its stake in shares of Colgate-Palmolive by 1,913.3% in the first quarter. Cornerstone Planning Group LLC now owns 302 shares of the company’s stock worth $28,000 after buying an additional 287 shares in the last quarter. Saudi Central Bank bought a new position in shares of Colgate-Palmolive in the first quarter worth approximately $29,000. Ransom Advisory Ltd bought a new position in shares of Colgate-Palmolive in the first quarter worth approximately $33,000. Finally, Harel Insurance Investments & Financial Services Ltd. bought a new position in shares of Colgate-Palmolive in the first quarter worth approximately $37,000. Institutional investors own 80.41% of the company’s stock.

Colgate-Palmolive Stock Up 0.2%

Shares of CL stock opened at $77.99 on Friday. Colgate-Palmolive Company has a 12 month low of $77.09 and a 12 month high of $102.61. The stock has a market cap of $63.03 billion, a P/E ratio of 21.91, a P/E/G ratio of 4.28 and a beta of 0.34. The company has a current ratio of 0.89, a quick ratio of 0.57 and a debt-to-equity ratio of 6.79. The company has a 50 day simple moving average of $82.56 and a two-hundred day simple moving average of $87.91.

Colgate-Palmolive (NYSE:CL) last announced its earnings results on Friday, August 1st. The company reported $0.92 EPS for the quarter, beating analysts’ consensus estimates of $0.89 by $0.03. Colgate-Palmolive had a net margin of 14.55% and a return on equity of 377.63%. The business had revenue of $5.11 billion during the quarter, compared to analysts’ expectations of $5.03 billion. During the same period in the prior year, the company earned $0.91 earnings per share. The firm’s revenue was up 1.0% on a year-over-year basis. On average, research analysts expect that Colgate-Palmolive Company will post 3.75 earnings per share for the current year.

Colgate-Palmolive Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, November 14th. Shareholders of record on Friday, October 17th will be issued a dividend of $0.52 per share. This represents a $2.08 dividend on an annualized basis and a yield of 2.7%. The ex-dividend date of this dividend is Friday, October 17th. Colgate-Palmolive’s dividend payout ratio is currently 58.43%.

Wall Street Analysts Forecast Growth

Several research analysts have recently issued reports on CL shares. Wells Fargo & Company dropped their target price on shares of Colgate-Palmolive from $83.00 to $80.00 and set an “underweight” rating on the stock in a research note on Thursday, September 25th. Weiss Ratings reiterated a “hold (c)” rating on shares of Colgate-Palmolive in a research note on Wednesday. Piper Sandler initiated coverage on shares of Colgate-Palmolive in a research report on Friday, October 3rd. They set a “neutral” rating and a $84.00 price objective on the stock. The Goldman Sachs Group lowered their price objective on shares of Colgate-Palmolive from $106.00 to $91.00 and set a “buy” rating on the stock in a research report on Thursday, October 2nd. Finally, Barclays lowered their price objective on shares of Colgate-Palmolive from $87.00 to $82.00 and set an “equal weight” rating on the stock in a research report on Wednesday, October 1st. Eight equities research analysts have rated the stock with a Buy rating, five have given a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the company currently has an average 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.