Tocqueville Asset Management L.P. Sells 29,379 Shares of Colgate-Palmolive (NYSE:CL)

Tocqueville Asset Management L.P. reduced its stake in shares of Colgate-Palmolive (NYSE:CL) by 4.9% in the fourth quarter, HoldingsChannel.com reports. The fund owned 575,090 shares of the company’s stock after selling 29,379 shares during the quarter. Colgate-Palmolive accounts for approximately 0.8% of Tocqueville Asset Management L.P.’s portfolio, making the stock its 25th largest position. Tocqueville Asset Management L.P.’s holdings in Colgate-Palmolive were worth $52,281,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in CL. Diamond Hill Capital Management Inc. bought a new stake in shares of Colgate-Palmolive during the 4th quarter worth $348,718,000. FMR LLC raised its position in Colgate-Palmolive by 65.6% in the 3rd quarter. FMR LLC now owns 6,749,275 shares of the company’s stock worth $700,642,000 after purchasing an additional 2,674,807 shares during the period. AMF Tjanstepension AB raised its position in Colgate-Palmolive by 1,088.8% in the 4th quarter. AMF Tjanstepension AB now owns 2,569,394 shares of the company’s stock worth $233,584,000 after purchasing an additional 2,353,268 shares during the period. Barclays PLC raised its position in Colgate-Palmolive by 38.7% in the 3rd quarter. Barclays PLC now owns 7,644,189 shares of the company’s stock worth $793,542,000 after purchasing an additional 2,132,747 shares during the period. Finally, State Street Corp raised its position in Colgate-Palmolive by 3.8% in the 3rd quarter. State Street Corp now owns 48,436,276 shares of the company’s stock worth $5,028,170,000 after purchasing an additional 1,784,411 shares during the period. 80.41% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of equities analysts recently commented on CL shares. Raymond James reiterated an “outperform” rating and issued a $105.00 target price (down previously from $110.00) on shares of Colgate-Palmolive in a research report on Monday, February 3rd. StockNews.com cut shares of Colgate-Palmolive from a “buy” rating to a “hold” rating in a research report on Friday. Wells Fargo & Company decreased their target price on shares of Colgate-Palmolive from $92.00 to $83.00 and set an “underweight” rating on the stock in a research report on Tuesday, January 7th. Piper Sandler decreased their price objective on shares of Colgate-Palmolive from $121.00 to $112.00 and set an “overweight” rating on the stock in a research report on Monday, January 6th. Finally, JPMorgan Chase & Co. boosted their price objective on shares of Colgate-Palmolive from $97.00 to $99.00 and gave the company an “overweight” rating in a research report on Friday. One analyst has rated the stock with a sell rating, ten have given a hold rating and eleven have given a buy rating to the company’s stock. According to MarketBeat.com, Colgate-Palmolive presently has a consensus rating of “Hold” and a consensus target price of $101.72.

Colgate-Palmolive Price Performance

Shares of CL opened at $89.80 on Monday. The stock has a market cap of $72.87 billion, a PE ratio of 25.51, a price-to-earnings-growth ratio of 4.20 and a beta of 0.40. The company has a debt-to-equity ratio of 13.40, a quick ratio of 0.58 and a current ratio of 0.92. Colgate-Palmolive has a fifty-two week low of $85.32 and a fifty-two week high of $109.30. The firm’s 50-day simple moving average is $89.02 and its two-hundred day simple moving average is $94.67.

Colgate-Palmolive (NYSE:CL) last announced its quarterly earnings data on Friday, January 31st. The company reported $0.91 earnings per share for the quarter, topping analysts’ consensus estimates of $0.90 by $0.01. Colgate-Palmolive had a net margin of 14.38% and a return on equity of 477.77%. During the same period in the previous year, the firm earned $0.87 EPS. Analysts anticipate that Colgate-Palmolive will post 3.75 earnings per share for the current fiscal year.

Colgate-Palmolive Profile

Colgate-Palmolive Company, together with its subsidiaries, manufactures and sells consumer products in the United States and internationally. It operates through two segments: Oral, Personal and Home Care; and Pet Nutrition. The Oral, Personal and Home Care segment offers toothpaste, toothbrushes, mouthwash, bar and liquid hand soaps, shower gels, shampoos, conditioners, deodorants and antiperspirants, skin health products, dishwashing detergents, fabric conditioners, household cleaners, and other related items.