Colgate-Palmolive Company $CL Shares Sold by LGT Group Foundation

LGT Group Foundation decreased its position in Colgate-Palmolive Company (NYSE:CL) by 36.6% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 31,103 shares of the company’s stock after selling 17,961 shares during the period. LGT Group Foundation’s holdings in Colgate-Palmolive were worth $2,457,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in the company. ProShare Advisors LLC lifted its stake in shares of Colgate-Palmolive by 11.0% in the 3rd quarter. ProShare Advisors LLC now owns 2,047,542 shares of the company’s stock valued at $163,681,000 after purchasing an additional 202,379 shares during the last quarter. Providence Capital Advisors LLC purchased a new position in shares of Colgate-Palmolive during the 3rd quarter worth $5,373,000. Asset Management One Co. Ltd. increased its position in shares of Colgate-Palmolive by 3.9% during the 3rd quarter. Asset Management One Co. Ltd. now owns 422,292 shares of the company’s stock worth $33,758,000 after purchasing an additional 16,017 shares during the last quarter. Citigroup Inc. raised its holdings in Colgate-Palmolive by 43.7% in the 3rd quarter. Citigroup Inc. now owns 1,346,590 shares of the company’s stock valued at $107,646,000 after buying an additional 409,710 shares during the period. Finally, Vanguard Group Inc. lifted its position in Colgate-Palmolive by 1.2% in the second quarter. Vanguard Group Inc. now owns 82,751,689 shares of the company’s stock valued at $7,522,129,000 after buying an additional 993,432 shares during the last quarter. Hedge funds and other institutional investors own 80.41% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on CL shares. Barclays increased their target price on shares of Colgate-Palmolive from $83.00 to $88.00 and gave the stock an “equal weight” rating in a research note on Tuesday, February 3rd. Argus reiterated a “hold” rating on shares of Colgate-Palmolive in a report on Thursday, December 11th. Piper Sandler upped their price target on Colgate-Palmolive from $88.00 to $96.00 and gave the stock an “overweight” rating in a research note on Friday, January 30th. Deutsche Bank Aktiengesellschaft lifted their price objective on Colgate-Palmolive from $83.00 to $90.00 and gave the company a “hold” rating in a research note on Monday, February 2nd. Finally, Weiss Ratings reissued a “hold (c)” rating on shares of Colgate-Palmolive in a research note on Wednesday, January 21st. Eleven research analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $94.75.

Colgate-Palmolive Stock Performance

NYSE:CL opened at $92.90 on Tuesday. Colgate-Palmolive Company has a 52 week low of $74.54 and a 52 week high of $100.18. The company has a fifty day simple moving average of $89.24 and a two-hundred day simple moving average of $83.08. 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 company has a market cap of $74.88 billion, a price-to-earnings ratio of 35.46, a price-to-earnings-growth ratio of 4.22 and a beta of 0.28.

Colgate-Palmolive (NYSE:CL) last released its earnings results on Friday, January 30th. The company reported $0.95 earnings per share (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 analyst estimates of $5.13 billion. During the same period last year, the business posted $0.91 earnings per share. Colgate-Palmolive’s revenue was up 5.8% compared to the same quarter last year. As a group, equities analysts anticipate that Colgate-Palmolive Company will post 3.75 earnings per share for the current fiscal year.

Colgate-Palmolive Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, February 13th. Stockholders of record on Wednesday, January 21st were paid a $0.52 dividend. This represents a $2.08 annualized dividend and a dividend yield of 2.2%. The ex-dividend date was Wednesday, January 21st. Colgate-Palmolive’s dividend payout ratio (DPR) is presently 79.39%.

Insider Buying and Selling

In related news, CFO Stanley J. Sutula III sold 97,843 shares of the company’s stock in a transaction that occurred on Wednesday, February 4th. The shares were sold at an average price of $94.27, for a total transaction of $9,223,659.61. Following the sale, the chief financial officer directly owned 55,310 shares in the company, valued at approximately $5,214,073.70. This represents a 63.89% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, COO Panagiotis Tsourapas sold 35,000 shares of the firm’s stock in a transaction on Wednesday, February 11th. The shares were sold at an average price of $94.61, for a total transaction of $3,311,350.00. Following the completion of the sale, the chief operating officer owned 10,415 shares in the company, valued at $985,363.15. The trade was a 77.07% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last ninety days, insiders sold 184,683 shares of company stock valued at $17,486,693. Corporate insiders own 0.41% 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.