Generali Investments Management Co LLC Cuts Stock Holdings in Colgate-Palmolive Company $CL

Generali Investments Management Co LLC cut its position in shares of Colgate-Palmolive Company (NYSE:CL) by 79.3% during the third quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 2,967 shares of the company’s stock after selling 11,394 shares during the period. Generali Investments Management Co LLC’s holdings in Colgate-Palmolive were worth $237,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Norges Bank purchased a new stake in shares of Colgate-Palmolive during the 2nd quarter worth about $960,390,000. Schroder Investment Management Group raised its holdings in Colgate-Palmolive by 242.3% in the 2nd quarter. Schroder Investment Management Group now owns 5,324,115 shares of the company’s stock worth $483,962,000 after purchasing an additional 3,768,784 shares during the period. Pacer Advisors Inc. boosted its position in Colgate-Palmolive by 3,052.2% during the third quarter. Pacer Advisors Inc. now owns 2,697,047 shares of the company’s stock worth $215,602,000 after purchasing an additional 2,611,485 shares in the last quarter. Diamond Hill Capital Management Inc. grew its holdings in Colgate-Palmolive by 46.7% in the third quarter. Diamond Hill Capital Management Inc. now owns 8,077,549 shares of the company’s stock valued at $645,719,000 after purchasing an additional 2,572,796 shares during the period. Finally, Acadian Asset Management LLC increased its position in shares of Colgate-Palmolive by 42.9% in the second quarter. Acadian Asset Management LLC now owns 6,124,347 shares of the company’s stock valued at $556,663,000 after buying an additional 1,839,853 shares in the last quarter. Hedge funds and other institutional investors own 80.41% of the company’s stock.

Colgate-Palmolive Trading Up 1.5%

CL opened at $99.01 on Friday. The company has a debt-to-equity ratio of 18.82, a current ratio of 0.83 and a quick ratio of 0.27. The company’s 50 day simple moving average is $87.49 and its two-hundred day simple moving average is $82.73. The firm has a market capitalization of $79.81 billion, a price-to-earnings ratio of 37.79, a price-to-earnings-growth ratio of 4.40 and a beta of 0.29. Colgate-Palmolive Company has a 1-year low of $74.54 and a 1-year high of $100.18.

Colgate-Palmolive (NYSE:CL) last posted its quarterly earnings results on Friday, January 30th. The company reported $0.95 EPS for the quarter, beating the consensus estimate of $0.91 by $0.04. The firm had revenue of $5.23 billion during the quarter, compared to analysts’ expectations of $5.13 billion. Colgate-Palmolive had a return on equity of 353.72% and a net margin of 10.45%.The business’s revenue for the quarter was up 5.8% on a year-over-year basis. During the same quarter last year, the firm earned $0.91 earnings per share. Analysts expect that Colgate-Palmolive Company will post 3.75 EPS for the current fiscal year.

Colgate-Palmolive Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, February 13th. Investors of record on Wednesday, January 21st were issued a $0.52 dividend. The ex-dividend date of this dividend was Wednesday, January 21st. This represents a $2.08 dividend on an annualized basis and a dividend yield of 2.1%. Colgate-Palmolive’s dividend payout ratio is currently 79.39%.

Analyst Ratings Changes

CL has been the topic of a number of research analyst reports. Piper Sandler lifted their price target on shares of Colgate-Palmolive from $88.00 to $96.00 and gave the company an “overweight” rating in a research note on Friday, January 30th. The Goldman Sachs Group reaffirmed a “buy” rating and set a $100.00 price objective on shares of Colgate-Palmolive in a report on Friday, February 20th. TD Cowen reissued a “buy” rating on shares of Colgate-Palmolive in a research note on Monday, February 2nd. Jefferies Financial Group upped their price target on shares of Colgate-Palmolive from $85.00 to $91.00 and gave the stock a “hold” rating in a research report on Monday, February 2nd. Finally, Argus reiterated a “hold” rating on shares of Colgate-Palmolive in a report on Thursday, December 11th. Eleven equities research analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $94.75.

Insider Activity

In other news, insider Sally Massey sold 15,851 shares of Colgate-Palmolive stock in a transaction that occurred on Thursday, February 5th. The shares were sold at an average price of $95.03, for a total transaction of $1,506,320.53. Following the sale, the insider owned 13,751 shares of the company’s stock, valued at approximately $1,306,757.53. The trade was a 53.55% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, COO Panagiotis Tsourapas sold 15,000 shares of the company’s stock in a transaction that occurred on Thursday, February 12th. The shares were sold at an average price of $97.81, for a total value of $1,467,150.00. Following the completion of the transaction, the chief operating officer owned 10,415 shares in the company, valued at $1,018,691.15. This represents a 59.02% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 184,683 shares of company stock valued at $17,486,693 in the last ninety days. 0.34% of the stock is currently owned by company insiders.

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.