BNP Paribas Increases Stock Position in Colgate-Palmolive Company $CL

BNP Paribas boosted its position in shares of Colgate-Palmolive Company (NYSE:CL) by 12.8% during the 3rd quarter, Holdings Channel reports. The institutional investor owned 92,510 shares of the company’s stock after acquiring an additional 10,485 shares during the period. BNP Paribas’ holdings in Colgate-Palmolive were worth $7,499,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in CL. Vermillion & White Wealth Management Group LLC raised its position in shares of Colgate-Palmolive by 86.1% in the second quarter. Vermillion & White Wealth Management Group LLC now owns 335 shares of the company’s stock worth $30,000 after acquiring an additional 155 shares during the period. Copia Wealth Management acquired a new stake in shares of Colgate-Palmolive during the 3rd quarter valued at about $29,000. Cloud Capital Management LLC acquired a new stake in shares of Colgate-Palmolive during the 3rd quarter valued at about $30,000. MTM Investment Management LLC purchased a new position in shares of Colgate-Palmolive in the 2nd quarter valued at about $39,000. Finally, Kelleher Financial Advisors acquired a new position in Colgate-Palmolive in the 3rd quarter worth about $35,000. Hedge funds and other institutional investors own 80.41% of the company’s stock.

Colgate-Palmolive Price Performance

NYSE:CL opened at $88.85 on Friday. The stock has a 50 day moving average of $90.11 and a two-hundred day moving average of $83.23. Colgate-Palmolive Company has a 12 month low of $74.54 and a 12 month high of $99.33. The firm has a market cap of $71.62 billion, a P/E ratio of 33.91, a price-to-earnings-growth ratio of 3.98 and a beta of 0.28. The company has a current ratio of 0.83, a quick ratio of 0.54 and a debt-to-equity ratio of 18.82.

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

Colgate-Palmolive Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, May 15th. Shareholders of record on Monday, April 20th will be issued a $0.53 dividend. This represents a $2.12 dividend on an annualized basis and a yield of 2.4%. The ex-dividend date is Monday, April 20th. This is an increase from Colgate-Palmolive’s previous quarterly dividend of $0.52. Colgate-Palmolive’s payout ratio is 79.39%.

Insider Buying and Selling at Colgate-Palmolive

In other news, COO Panagiotis Tsourapas sold 15,000 shares of the company’s stock in a transaction on Thursday, February 12th. The shares were sold at an average price of $97.81, for a total transaction of $1,467,150.00. Following the completion of the sale, the chief operating officer owned 10,415 shares of the company’s stock, valued at $1,018,691.15. This represents a 59.02% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider John Hazlin sold 20,989 shares of the stock in a transaction dated Tuesday, February 10th. The shares were sold at an average price of $94.25, for a total transaction of $1,978,213.25. Following the completion of the sale, the insider owned 17,645 shares of the company’s stock, valued at $1,663,041.25. This trade represents a 54.33% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last 90 days, insiders sold 184,683 shares of company stock worth $17,486,693. Company insiders own 0.34% of the company’s stock.

Analyst Upgrades and Downgrades

CL has been the topic of a number of recent analyst reports. Evercore increased their price target on Colgate-Palmolive from $94.00 to $100.00 and gave the stock an “outperform” rating in a research report on Monday, February 2nd. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Colgate-Palmolive in a research note on Wednesday, January 21st. Piper Sandler increased their target price on Colgate-Palmolive from $88.00 to $96.00 and gave the company an “overweight” rating in a research report on Friday, January 30th. Wells Fargo & Company lifted their price target on shares of Colgate-Palmolive from $86.00 to $94.00 and gave the company an “equal weight” rating in a research note on Sunday, February 1st. Finally, Deutsche Bank Aktiengesellschaft boosted their price target on shares of Colgate-Palmolive from $83.00 to $90.00 and gave the stock a “hold” rating in a report on Monday, February 2nd. Eleven investment analysts have rated the stock with a Buy rating and six have given a Hold rating to the stock. According to data from MarketBeat.com, Colgate-Palmolive presently has a consensus rating of “Moderate Buy” and an average price target of $94.75.

Colgate-Palmolive Company 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.