PensionDanmark Pensionsforsikringsaktieselskab lifted its stake in Colgate-Palmolive Company (NYSE:CL – Free Report) by 8.0% during the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 280,937 shares of the company’s stock after purchasing an additional 20,878 shares during the quarter. PensionDanmark Pensionsforsikringsaktieselskab’s holdings in Colgate-Palmolive were worth $25,756,000 as of its most recent filing with the Securities & Exchange Commission.
Several other hedge funds and other institutional investors also recently made changes to their positions in the stock. HighPoint Advisor Group LLC raised its stake in Colgate-Palmolive by 0.7% during the fourth quarter. HighPoint Advisor Group LLC now owns 15,877 shares of the company’s stock valued at $1,255,000 after buying an additional 109 shares during the last quarter. Clear Harbor Asset Management LLC grew its stake in shares of Colgate-Palmolive by 2.6% in the fourth quarter. Clear Harbor Asset Management LLC now owns 4,503 shares of the company’s stock worth $356,000 after acquiring an additional 113 shares during the last quarter. Moneta Group Investment Advisors LLC increased its holdings in shares of Colgate-Palmolive by 0.7% during the fourth quarter. Moneta Group Investment Advisors LLC now owns 15,506 shares of the company’s stock valued at $1,225,000 after acquiring an additional 114 shares in the last quarter. Gould Capital LLC increased its holdings in shares of Colgate-Palmolive by 38.7% during the first quarter. Gould Capital LLC now owns 412 shares of the company’s stock valued at $35,000 after acquiring an additional 115 shares in the last quarter. Finally, Sunpointe LLC raised its position in shares of Colgate-Palmolive by 4.0% in the 4th quarter. Sunpointe LLC now owns 3,056 shares of the company’s stock worth $241,000 after purchasing an additional 117 shares during the last quarter. Hedge funds and other institutional investors own 80.41% of the company’s stock.
Insider Buying and Selling at Colgate-Palmolive
In other news, CEO Noel R. Wallace sold 161,021 shares of the stock in a transaction on Tuesday, August 4th. The stock was sold at an average price of $91.92, for a total transaction of $14,801,050.32. Following the transaction, the chief executive officer directly owned 362,231 shares of the company’s stock, valued at $33,296,273.52. This represents a 30.77% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. 0.43% of the stock is owned by insiders.
Colgate-Palmolive Price Performance
Colgate-Palmolive (NYSE:CL – Get Free Report) last posted its earnings results on Friday, July 31st. The company reported $0.99 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.95 by $0.04. Colgate-Palmolive had a net margin of 9.68% and a return on equity of 464.63%. The business had revenue of $5.36 billion for the quarter, compared to analysts’ expectations of $5.36 billion. During the same quarter in the prior year, the business earned $0.92 EPS. The business’s revenue for the quarter was up 4.9% compared to the same quarter last year. On average, sell-side analysts forecast that Colgate-Palmolive Company will post 3.86 EPS for the current year.
Colgate-Palmolive Dividend Announcement
The business also recently announced a quarterly dividend, which will be paid on Friday, August 14th. Shareholders of record on Monday, July 20th will be paid a dividend of $0.53 per share. The ex-dividend date is Monday, July 20th. This represents a $2.12 dividend on an annualized basis and a yield of 2.3%. Colgate-Palmolive’s payout ratio is currently 84.13%.
Analyst Upgrades and Downgrades
A number of equities analysts recently issued reports on the stock. Jefferies Financial Group reiterated a “hold” rating on shares of Colgate-Palmolive in a research note on Monday. Rothschild & Co Redburn set a $100.00 target price on shares of Colgate-Palmolive and gave the stock a “buy” rating in a report on Tuesday, April 21st. Piper Sandler upped their target price on shares of Colgate-Palmolive from $92.00 to $96.00 and gave the stock an “overweight” rating in a research note on Thursday, July 9th. Deutsche Bank Aktiengesellschaft reiterated a “buy” rating and set a $101.00 price target on shares of Colgate-Palmolive in a report on Monday. Finally, The Goldman Sachs Group reissued a “buy” rating on shares of Colgate-Palmolive in a research report on Friday, May 1st. Twelve investment analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $99.00.
View Our Latest Analysis on Colgate-Palmolive
Colgate-Palmolive Profile
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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