Mirova Purchases 11,168 Shares of Colgate-Palmolive Company $CL

Mirova raised its position in shares of Colgate-Palmolive Company (NYSE:CL) by 8.5% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 142,187 shares of the company’s stock after acquiring an additional 11,168 shares during the period. Colgate-Palmolive makes up 1.6% of Mirova’s portfolio, making the stock its 16th biggest holding. Mirova’s holdings in Colgate-Palmolive were worth $11,366,000 at the end of the most recent reporting period.

Other hedge funds have also recently added to or reduced their stakes in the company. Norges Bank bought a new position in Colgate-Palmolive in the 2nd quarter worth approximately $960,390,000. Schroder Investment Management Group increased its position in Colgate-Palmolive by 242.3% during the second quarter. Schroder Investment Management Group now owns 5,324,115 shares of the company’s stock worth $483,962,000 after acquiring an additional 3,768,784 shares during the period. Pacer Advisors Inc. raised its stake in Colgate-Palmolive by 3,052.2% during the 3rd quarter. Pacer Advisors Inc. now owns 2,697,047 shares of the company’s stock valued at $215,602,000 after purchasing an additional 2,611,485 shares during the last quarter. Diamond Hill Capital Management Inc. boosted its holdings in Colgate-Palmolive by 46.7% in the 3rd 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, Amundi grew its position in Colgate-Palmolive by 41.6% in the 3rd quarter. Amundi now owns 6,294,445 shares of the company’s stock worth $487,505,000 after purchasing an additional 1,850,412 shares during the last quarter. Institutional investors own 80.41% of the company’s stock.

Insider Transactions at Colgate-Palmolive

In other news, insider John Hazlin sold 20,989 shares of Colgate-Palmolive stock in a transaction that occurred 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 in the company, valued at $1,663,041.25. This trade represents a 54.33% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, COO Panagiotis Tsourapas sold 35,000 shares of the stock in a transaction on Wednesday, February 11th. The stock was sold at an average price of $94.61, for a total transaction of $3,311,350.00. Following the transaction, the chief operating officer owned 10,415 shares of the company’s stock, valued at $985,363.15. The trade was a 77.07% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold 184,683 shares of company stock valued at $17,486,693 over the last three months. 0.34% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

CL has been the subject of several research reports. Rothschild & Co Redburn set a $93.00 target price on shares of Colgate-Palmolive in a research note on Friday, February 13th. Wells Fargo & Company raised their price objective on Colgate-Palmolive from $86.00 to $94.00 and gave the stock an “equal weight” rating in a research report on Sunday, February 1st. Morgan Stanley boosted their price objective on Colgate-Palmolive from $87.00 to $100.00 and gave the company an “overweight” rating in a research report on Monday, February 2nd. Piper Sandler lifted their price target on shares of Colgate-Palmolive from $88.00 to $96.00 and gave the stock an “overweight” rating in a research note on Friday, January 30th. Finally, Citigroup increased their price objective on shares of Colgate-Palmolive from $95.00 to $105.00 and gave the company a “buy” rating in a research note on Monday, February 2nd. Eleven research analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the stock. According to MarketBeat.com, Colgate-Palmolive has an average rating of “Moderate Buy” and a consensus price target of $94.75.

Colgate-Palmolive Stock Down 2.6%

Shares of Colgate-Palmolive stock opened at $87.56 on Thursday. Colgate-Palmolive Company has a 12 month low of $74.54 and a 12 month high of $99.33. The business has a fifty day simple moving average of $90.85 and a 200 day simple moving average of $83.34. The company has a quick ratio of 0.54, a current ratio of 0.83 and a debt-to-equity ratio of 18.82. The stock has a market cap of $70.58 billion, a PE ratio of 33.42, a price-to-earnings-growth ratio of 4.03 and a beta of 0.28.

Colgate-Palmolive (NYSE:CL) last announced 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 company had revenue of $5.23 billion during the quarter, compared to analysts’ expectations of $5.13 billion. During the same period in the prior year, the business posted $0.91 EPS. Colgate-Palmolive’s revenue was up 5.8% on a year-over-year basis. Research analysts predict that Colgate-Palmolive Company will post 3.75 EPS for the current year.

Colgate-Palmolive Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, May 15th. Stockholders 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 dividend yield of 2.4%. This is a positive change from Colgate-Palmolive’s previous quarterly dividend of $0.52. The ex-dividend date is Monday, April 20th. Colgate-Palmolive’s dividend payout ratio is presently 79.39%.

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.