Danske Bank A S Lowers Stock Position in Colgate-Palmolive Company $CL

Danske Bank A S trimmed its position in shares of Colgate-Palmolive Company (NYSE:CL) by 13.3% in the second quarter, HoldingsChannel reports. The institutional investor owned 702,384 shares of the company’s stock after selling 107,594 shares during the period. Danske Bank A S’s holdings in Colgate-Palmolive were worth $64,395,000 at the end of the most recent quarter.

Other large investors have also made changes to their positions in the company. Teacher Retirement System of Texas raised its position in Colgate-Palmolive by 35.3% in the fourth quarter. Teacher Retirement System of Texas now owns 469,624 shares of the company’s stock valued at $37,110,000 after purchasing an additional 122,634 shares during the period. Flputnam Investment Management Co. boosted its position in shares of Colgate-Palmolive by 7.4% in the fourth quarter. Flputnam Investment Management Co. now owns 200,972 shares of the company’s stock worth $15,881,000 after buying an additional 13,804 shares during the period. SEB Asset Management AB acquired a new stake in shares of Colgate-Palmolive in the first quarter valued at about $91,149,000. Brandywine Financial Group raised its holdings in shares of Colgate-Palmolive by 35,612.3% during the 1st quarter. Brandywine Financial Group now owns 72,853 shares of the company’s stock valued at $6,209,000 after buying an additional 72,649 shares during the period. Finally, Caprock Group LLC raised its holdings in shares of Colgate-Palmolive by 116.5% during the 4th quarter. Caprock Group LLC now owns 64,808 shares of the company’s stock valued at $5,121,000 after buying an additional 34,879 shares during the period. 80.41% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of brokerages have commented on CL. Citigroup boosted their price objective on shares of Colgate-Palmolive from $105.00 to $110.00 and gave the stock a “buy” rating in a report on Tuesday, July 14th. Royal Bank Of Canada raised their target price on Colgate-Palmolive from $102.00 to $104.00 and gave the company an “outperform” rating in a research note on Monday, August 3rd. Piper Sandler boosted their price target on Colgate-Palmolive from $92.00 to $96.00 and gave the stock an “overweight” rating in a research note on Thursday, July 9th. Barclays increased their price target on Colgate-Palmolive from $80.00 to $87.00 and gave the company an “equal weight” rating in a report on Tuesday, July 21st. Finally, JPMorgan Chase & Co. lowered their price objective on Colgate-Palmolive from $104.00 to $103.00 and set an “overweight” rating for the company in a research note on Monday, August 3rd. Twelve equities research analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $99.00.

Colgate-Palmolive Stock Performance

CL stock opened at $91.45 on Wednesday. The stock’s 50 day simple moving average is $91.83 and its 200 day simple moving average is $90.10. 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 $72.90 billion, a P/E ratio of 36.29, a P/E/G ratio of 4.48 and a beta of 0.33. The company has a current ratio of 1.03, a quick ratio of 0.67 and a debt-to-equity ratio of 13.82.

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

Colgate-Palmolive Announces Dividend

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

Insider Transactions at Colgate-Palmolive

In related news, CEO Noel R. Wallace sold 161,021 shares of the firm’s stock in a transaction that occurred on Tuesday, August 4th. The stock was sold at an average price of $91.92, for a total value of $14,801,050.32. Following the sale, the chief executive officer owned 362,231 shares of the company’s stock, valued at approximately $33,296,273.52. This trade represents a 30.77% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 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 business’s stock in a transaction that occurred on Thursday, August 6th. The shares were sold at an average price of $93.37, for a total value of $389,352.90. Following the transaction, the director owned 28,373 shares of the company’s stock, valued at $2,649,187.01. This represents a 12.81% decrease in their position. The SEC filing for this sale provides additional information. Company insiders own 0.43% of the company’s stock.

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.