Distillate Capital Partners LLC Buys New Holdings in Colgate-Palmolive Company $CL

Distillate Capital Partners LLC purchased a new stake in shares of Colgate-Palmolive Company (NYSE:CL) in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 222,643 shares of the company’s stock, valued at approximately $17,799,000.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in CL. Vanguard Group Inc. increased its position in Colgate-Palmolive by 1.2% during the 2nd quarter. Vanguard Group Inc. now owns 82,751,689 shares of the company’s stock worth $7,522,129,000 after purchasing an additional 993,432 shares in the last quarter. Norges Bank purchased a new stake in Colgate-Palmolive during the second quarter worth approximately $960,390,000. Invesco Ltd. increased its position in shares of Colgate-Palmolive by 13.1% in the third quarter. Invesco Ltd. now owns 8,467,993 shares of the company’s stock worth $676,931,000 after acquiring an additional 978,943 shares in the last quarter. Diamond Hill Capital Management Inc. increased its position in shares of 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 worth $645,719,000 after acquiring an additional 2,572,796 shares in the last quarter. Finally, Ameriprise Financial Inc. raised its stake in shares of Colgate-Palmolive by 5.1% in the 3rd quarter. Ameriprise Financial Inc. now owns 6,423,764 shares of the company’s stock valued at $517,167,000 after acquiring an additional 314,584 shares during the period. 80.41% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Colgate-Palmolive

In related news, insider John Hazlin sold 20,989 shares of the company’s stock in a transaction on Tuesday, February 10th. The shares were sold at an average price of $94.25, for a total value of $1,978,213.25. Following the sale, the insider directly owned 17,645 shares of the company’s stock, valued at $1,663,041.25. This represents a 54.33% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Sally Massey sold 15,851 shares of the stock in a transaction 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 transaction, the insider owned 13,751 shares in the company, valued at $1,306,757.53. This trade represents a 53.55% 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 worth $17,486,693 in the last ninety days. 0.41% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

Several equities analysts recently weighed in on CL shares. TD Cowen restated a “buy” rating on shares of Colgate-Palmolive in a report on Monday, February 2nd. Deutsche Bank Aktiengesellschaft boosted their price objective on Colgate-Palmolive from $83.00 to $90.00 and gave the stock a “hold” rating in a research note on Monday, February 2nd. UBS Group upped their target price on Colgate-Palmolive from $90.00 to $93.00 and gave the stock a “buy” rating in a research report on Wednesday, January 14th. Piper Sandler raised their target price on Colgate-Palmolive from $88.00 to $96.00 and gave the company an “overweight” rating in a report on Friday, January 30th. Finally, Royal Bank Of Canada raised Colgate-Palmolive from a “sector perform” rating to an “outperform” rating and set a $88.00 price target on the stock in a research report on Tuesday, December 9th. Eleven research analysts have rated the stock with a Buy rating and six have given a Hold rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $94.75.

Colgate-Palmolive Stock Up 1.0%

Shares of Colgate-Palmolive stock opened at $88.85 on Monday. Colgate-Palmolive Company has a 1-year low of $74.54 and a 1-year high of $99.33. The company has a market capitalization of $71.62 billion, a PE ratio of 33.91, a P/E/G ratio of 3.98 and a beta of 0.28. The company has a debt-to-equity ratio of 18.82, a current ratio of 0.83 and a quick ratio of 0.54. The business has a 50-day moving average of $90.11 and a 200-day moving average of $83.22.

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

Colgate-Palmolive Increases Dividend

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

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.