Renaissance Technologies LLC Sells 495,600 Shares of Colgate-Palmolive Company $CL

Renaissance Technologies LLC trimmed its position in shares of Colgate-Palmolive Company (NYSE:CL) by 17.9% during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 2,273,833 shares of the company’s stock after selling 495,600 shares during the period. Renaissance Technologies LLC’s holdings in Colgate-Palmolive were worth $193,799,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Teacher Retirement System of Texas lifted its stake in Colgate-Palmolive by 35.3% during the fourth quarter. Teacher Retirement System of Texas now owns 469,624 shares of the company’s stock worth $37,110,000 after purchasing an additional 122,634 shares during the last quarter. Flputnam Investment Management Co. increased its stake in shares of Colgate-Palmolive by 7.4% in the 4th quarter. Flputnam Investment Management Co. now owns 200,972 shares of the company’s stock valued at $15,881,000 after purchasing an additional 13,804 shares during the last quarter. Caprock Group LLC increased its stake in shares of Colgate-Palmolive by 116.5% in the 4th quarter. Caprock Group LLC now owns 64,808 shares of the company’s stock valued at $5,121,000 after purchasing an additional 34,879 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. raised its holdings in shares of Colgate-Palmolive by 10.5% during the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 221,443 shares of the company’s stock worth $17,498,000 after buying an additional 21,109 shares in the last quarter. Finally, First Eagle Investment Management LLC raised its holdings in shares of Colgate-Palmolive by 0.4% during the 4th quarter. First Eagle Investment Management LLC now owns 7,918,979 shares of the company’s stock worth $625,758,000 after buying an additional 29,876 shares in the last quarter. 80.41% of the stock is currently owned by institutional investors and hedge funds.

Colgate-Palmolive Trading Up 0.7%

Shares of CL stock opened at $90.74 on Friday. Colgate-Palmolive Company has a twelve month low of $74.54 and a twelve month high of $99.33. The stock’s fifty day simple moving average is $90.77 and its 200 day simple moving average is $88.96. The company has a quick ratio of 0.67, a current ratio of 1.02 and a debt-to-equity ratio of 16.33. The firm has a market capitalization of $72.61 billion, a P/E ratio of 35.31, a P/E/G ratio of 4.74 and a beta of 0.33.

Colgate-Palmolive (NYSE:CL) last posted its earnings results on Friday, May 1st. The company reported $0.97 EPS for the quarter, beating the consensus estimate of $0.94 by $0.03. Colgate-Palmolive had a return on equity of 386.76% and a net margin of 10.04%.The firm had revenue of $5.32 billion during the quarter, compared to the consensus estimate of $5.22 billion. During the same period last year, the company earned $0.91 earnings per share. The business’s quarterly revenue was up 8.4% on a year-over-year basis. As a group, sell-side analysts predict that Colgate-Palmolive Company will post 3.81 EPS for the current fiscal year.

Colgate-Palmolive Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, August 14th. Investors of record on Monday, July 20th will be issued a $0.53 dividend. This represents a $2.12 dividend on an annualized basis and a yield of 2.3%. The ex-dividend date is Monday, July 20th. Colgate-Palmolive’s dividend payout ratio (DPR) is 82.49%.

Wall Street Analyst Weigh In

CL has been the topic of several research analyst reports. Piper Sandler raised their price objective on Colgate-Palmolive from $92.00 to $96.00 and gave the company an “overweight” rating in a research note on Thursday, July 9th. Wells Fargo & Company boosted their target price on Colgate-Palmolive from $92.00 to $95.00 and gave the stock an “equal weight” rating in a research note on Wednesday, July 8th. Sanford C. Bernstein assumed coverage on shares of Colgate-Palmolive in a report on Thursday, June 11th. They issued a “market perform” rating and a $96.00 target price for the company. Weiss Ratings upgraded shares of Colgate-Palmolive from a “hold (c)” rating to a “hold (c+)” rating in a research note on Monday, May 4th. Finally, JPMorgan Chase & Co. lifted their price target on shares of Colgate-Palmolive from $96.00 to $104.00 and gave the company an “overweight” rating in a report on Thursday, July 16th. Twelve 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, the company has a consensus rating of “Moderate Buy” and an average price target of $97.82.

Colgate-Palmolive 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.