Mitsubishi UFJ Trust & Banking Corp Grows Stake in Colgate-Palmolive Company $CL

Mitsubishi UFJ Trust & Banking Corp raised its position in Colgate-Palmolive Company (NYSE:CL) by 3.5% during the 2nd quarter, according to its most recent disclosure with the SEC. The fund owned 1,053,562 shares of the company’s stock after purchasing an additional 35,749 shares during the period. Mitsubishi UFJ Trust & Banking Corp owned about 0.13% of Colgate-Palmolive worth $96,591,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Evernest Financial Advisors LLC lifted its holdings in shares of Colgate-Palmolive by 16.0% in the second quarter. Evernest Financial Advisors LLC now owns 2,817 shares of the company’s stock valued at $258,000 after purchasing an additional 389 shares in the last quarter. Moran Wealth Management LLC purchased a new stake in Colgate-Palmolive during the 2nd quarter worth about $246,000. Ellis Investment Partners LLC purchased a new stake in shares of Colgate-Palmolive during the second quarter worth about $216,000. Mosaic Family Wealth Partners LLC grew its stake in Colgate-Palmolive by 406.8% in the 2nd quarter. Mosaic Family Wealth Partners LLC now owns 21,740 shares of the company’s stock worth $1,993,000 after acquiring an additional 17,450 shares during the period. Finally, AlTi Global Inc. grew its position in shares of Colgate-Palmolive by 1.5% in the second quarter. AlTi Global Inc. now owns 18,051 shares of the company’s stock valued at $1,655,000 after purchasing an additional 273 shares during the period. Institutional investors and hedge funds own 80.41% of the company’s stock.

Analyst Ratings Changes

CL has been the subject of a number of research analyst reports. Piper Sandler upped their price objective on shares of Colgate-Palmolive from $92.00 to $96.00 and gave the company an “overweight” rating in a research note on Thursday, July 9th. Sanford C. Bernstein reissued a “market perform” rating on shares of Colgate-Palmolive in a research report on Thursday. UBS Group boosted their target price on shares of Colgate-Palmolive from $106.00 to $109.00 and gave the company a “buy” rating in a report on Monday, August 3rd. Royal Bank Of Canada upped their price target on shares of Colgate-Palmolive from $102.00 to $104.00 and gave the stock an “outperform” rating in a research report on Monday, August 3rd. Finally, TD Cowen increased their price target on shares of Colgate-Palmolive from $85.00 to $90.00 and gave the stock a “hold” rating in a research note on Monday, August 3rd. Twelve equities research analysts have rated the stock with a Buy rating and seven have given a Hold rating to the company. According to data from MarketBeat, Colgate-Palmolive has an average rating of “Moderate Buy” and an average target price of $99.00.

Insiders Place Their Bets

In related news, CEO Noel R. Wallace sold 161,021 shares of the company’s stock in a transaction on Tuesday, August 4th. The shares were sold at an average price of $91.92, for a total value of $14,801,050.32. Following the sale, 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 ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, Director John T. Cahill sold 4,170 shares of the stock in a transaction on Thursday, August 6th. The shares were sold at an average price of $93.37, for a total transaction of $389,352.90. Following the transaction, the director owned 28,373 shares in the company, valued at $2,649,187.01. This trade represents a 12.81% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. 0.43% of the stock is currently owned by insiders.

Colgate-Palmolive Trading Down 1.1%

NYSE:CL opened at $91.90 on Friday. The stock has a market cap of $73.26 billion, a price-to-earnings ratio of 36.47, a price-to-earnings-growth ratio of 4.49 and a beta of 0.33. Colgate-Palmolive Company has a one year low of $74.54 and a one year high of $99.33. The company has a debt-to-equity ratio of 13.82, a quick ratio of 0.67 and a current ratio of 1.03. The business’s 50-day simple moving average is $91.67 and its 200 day simple moving average is $89.99.

Colgate-Palmolive (NYSE:CL) last posted its quarterly earnings data on Friday, July 31st. The company reported $0.99 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.95 by $0.04. Colgate-Palmolive had a return on equity of 464.63% and a net margin of 9.68%.The company had revenue of $5.36 billion for the quarter, compared to the consensus estimate of $5.36 billion. During the same period in the previous year, the business earned $0.92 EPS. Colgate-Palmolive’s revenue for the quarter was up 4.9% compared to the same quarter last year. As a group, sell-side analysts predict that Colgate-Palmolive Company will post 3.86 earnings per share for the current fiscal year.

Colgate-Palmolive Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, August 14th. Investors of record on Monday, July 20th were paid a $0.53 dividend. This represents a $2.12 dividend on an annualized basis and a dividend yield of 2.3%. The ex-dividend date was Monday, July 20th. Colgate-Palmolive’s payout ratio is 84.13%.

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.