Truist Financial Corp reduced its position in shares of Colgate-Palmolive (NYSE:CL – Free Report) by 15.5% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 272,488 shares of the company’s stock after selling 50,008 shares during the period. Truist Financial Corp’s holdings in Colgate-Palmolive were worth $21,720,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors have also modified their holdings of the company. &PARTNERS grew its holdings in shares of Colgate-Palmolive by 0.7% during the fourth quarter. &PARTNERS now owns 17,643 shares of the company’s stock valued at $1,406,000 after purchasing an additional 129 shares during the last quarter. West Branch Capital LLC boosted its position in shares of Colgate-Palmolive by 24.0% during the fourth quarter. West Branch Capital LLC now owns 682 shares of the company’s stock worth $54,000 after buying an additional 132 shares during the period. First Foundation Advisors boosted its position in Colgate-Palmolive by 2.7% during the 3rd quarter. First Foundation Advisors now owns 5,226 shares of the company’s stock worth $372,000 after acquiring an additional 136 shares during the period. Waldron Private Wealth LLC increased its holdings in shares of Colgate-Palmolive by 2.7% during the third quarter. Waldron Private Wealth LLC now owns 5,361 shares of the company’s stock valued at $381,000 after purchasing an additional 140 shares during the period. Finally, Autumn Glory Partners LLC lifted its holdings in Colgate-Palmolive by 2.7% in the fourth quarter. Autumn Glory Partners LLC now owns 5,319 shares of the company’s stock worth $424,000 after purchasing an additional 140 shares during the period. 80.41% of the stock is currently owned by hedge funds and other institutional investors.
Colgate-Palmolive Stock Up 1.6 %
Shares of CL stock traded up $1.43 on Tuesday, hitting $91.92. The company’s stock had a trading volume of 5,226,936 shares, compared to its average volume of 4,614,269. The stock has a market capitalization of $75.56 billion, a price-to-earnings ratio of 28.92, a P/E/G ratio of 3.42 and a beta of 0.42. Colgate-Palmolive has a fifty-two week low of $67.62 and a fifty-two week high of $92.25. The firm’s fifty day moving average price is $87.80 and its 200-day moving average price is $81.77. The company has a debt-to-equity ratio of 8.59, a current ratio of 0.42 and a quick ratio of 0.28.
Colgate-Palmolive (NYSE:CL – Get Free Report) last issued its quarterly earnings data on Friday, April 26th. The company reported $0.86 earnings per share for the quarter, beating analysts’ consensus estimates of $0.82 by $0.04. Colgate-Palmolive had a return on equity of 485.40% and a net margin of 13.22%. The business had revenue of $5.07 billion for the quarter, compared to the consensus estimate of $4.96 billion. During the same period last year, the business earned $0.73 EPS. The firm’s revenue was up 6.2% compared to the same quarter last year. Research analysts anticipate that Colgate-Palmolive will post 3.5 EPS for the current year.
Colgate-Palmolive Increases Dividend
The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 15th. Stockholders of record on Monday, April 22nd will be paid a $0.50 dividend. The ex-dividend date of this dividend is Friday, April 19th. This is a positive change from Colgate-Palmolive’s previous quarterly dividend of $0.48. This represents a $2.00 dividend on an annualized basis and a dividend yield of 2.18%. Colgate-Palmolive’s payout ratio is presently 63.29%.
Wall Street Analysts Forecast Growth
A number of equities analysts have issued reports on the company. Morgan Stanley increased their price target on Colgate-Palmolive from $85.00 to $93.00 and gave the company an “overweight” rating in a research note on Monday, January 29th. Barclays raised their target price on Colgate-Palmolive from $84.00 to $85.00 and gave the company an “equal weight” rating in a research note on Tuesday. StockNews.com cut shares of Colgate-Palmolive from a “strong-buy” rating to a “buy” rating in a research report on Tuesday, February 20th. Citigroup raised their price objective on shares of Colgate-Palmolive from $95.00 to $100.00 and gave the company a “buy” rating in a research report on Tuesday, April 16th. Finally, UBS Group boosted their target price on shares of Colgate-Palmolive from $93.00 to $95.00 and gave the stock a “buy” rating in a report on Monday, January 29th. Three equities research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. According to data from MarketBeat.com, Colgate-Palmolive presently has a consensus rating of “Moderate Buy” and a consensus target price of $91.44.
Insider Buying and Selling
In other news, insider Jennifer Daniels sold 61,633 shares of the stock in a transaction that occurred on Thursday, February 1st. The stock was sold at an average price of $83.93, for a total value of $5,172,857.69. Following the completion of the sale, the insider now directly owns 57,948 shares of the company’s stock, valued at $4,863,575.64. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, insider Jennifer Daniels sold 61,633 shares of the business’s stock in a transaction dated Thursday, February 1st. The shares were sold at an average price of $83.93, for a total transaction of $5,172,857.69. Following the transaction, the insider now owns 57,948 shares in the company, valued at approximately $4,863,575.64. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, Director C Martin Harris sold 2,760 shares of the stock in a transaction dated Wednesday, January 31st. The shares were sold at an average price of $84.50, for a total transaction of $233,220.00. Following the completion of the sale, the director now owns 19,272 shares of the company’s stock, valued at approximately $1,628,484. The disclosure for this sale can be found here. In the last 90 days, insiders sold 232,371 shares of company stock valued at $19,505,099. Insiders own 0.37% of the company’s stock.
About Colgate-Palmolive
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.