Varma Mutual Pension Insurance Co Lowers Stock Position in Colgate-Palmolive Company $CL

Varma Mutual Pension Insurance Co cut its stake in shares of Colgate-Palmolive Company (NYSE:CL) by 11.3% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 187,917 shares of the company’s stock after selling 24,000 shares during the quarter. Varma Mutual Pension Insurance Co’s holdings in Colgate-Palmolive were worth $17,228,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also bought and sold shares of the company. Brighton Jones LLC raised its position in shares of Colgate-Palmolive by 4.4% during the 4th quarter. Brighton Jones LLC now owns 10,578 shares of the company’s stock valued at $962,000 after buying an additional 450 shares in the last quarter. Woodline Partners LP grew its position in Colgate-Palmolive by 76.3% in the first quarter. Woodline Partners LP now owns 46,361 shares of the company’s stock worth $4,344,000 after acquiring an additional 20,062 shares in the last quarter. Schnieders Capital Management LLC. grew its position in Colgate-Palmolive by 2.0% in the second quarter. Schnieders Capital Management LLC. now owns 12,494 shares of the company’s stock worth $1,136,000 after acquiring an additional 245 shares in the last quarter. Nebula Research & Development LLC increased its stake in Colgate-Palmolive by 165.5% in the second quarter. Nebula Research & Development LLC now owns 10,326 shares of the company’s stock valued at $939,000 after acquiring an additional 6,437 shares during the last quarter. Finally, Sei Investments Co. increased its stake in Colgate-Palmolive by 21.7% in the second quarter. Sei Investments Co. now owns 657,093 shares of the company’s stock valued at $59,732,000 after acquiring an additional 116,968 shares during the last quarter. Hedge funds and other institutional investors own 80.41% of the company’s stock.

Analyst Upgrades and Downgrades

CL has been the subject of several research analyst reports. Citigroup lifted their price target on Colgate-Palmolive from $105.00 to $110.00 and gave the stock a “buy” rating in a research note on Tuesday, July 14th. JPMorgan Chase & Co. reduced their price objective on Colgate-Palmolive from $104.00 to $103.00 and set an “overweight” rating on the stock in a research report on Monday, August 3rd. Wells Fargo & Company raised their price objective on Colgate-Palmolive from $92.00 to $95.00 and gave the company an “equal weight” rating in a report on Wednesday, July 8th. Piper Sandler boosted their target price on Colgate-Palmolive from $92.00 to $96.00 and gave the stock an “overweight” rating in a research report on Thursday, July 9th. Finally, TD Cowen upped their target price on Colgate-Palmolive from $85.00 to $90.00 and gave the stock a “hold” rating in a research note on Monday, August 3rd. Twelve analysts have rated the stock with a Buy rating and seven have given a Hold rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $99.00.

Colgate-Palmolive Stock Performance

Colgate-Palmolive stock opened at $91.02 on Friday. The firm has a fifty day simple moving average of $91.89 and a two-hundred day simple moving average of $90.14. The company has a quick ratio of 0.67, a current ratio of 1.03 and a debt-to-equity ratio of 13.82. Colgate-Palmolive Company has a twelve month low of $74.54 and a twelve month high of $99.33. The company has a market capitalization of $72.56 billion, a PE ratio of 36.12, a P/E/G ratio of 4.26 and a beta of 0.33.

Colgate-Palmolive (NYSE:CL) last announced its quarterly earnings data on Friday, July 31st. The company reported $0.99 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.95 by $0.04. The firm had revenue of $5.36 billion for the quarter, compared to analysts’ expectations of $5.36 billion. Colgate-Palmolive had a return on equity of 464.63% and a net margin of 9.68%.The company’s revenue for the quarter was up 4.9% compared to the same quarter last year. During the same period last year, the firm earned $0.92 earnings per share. Research analysts expect that Colgate-Palmolive Company will post 3.86 EPS for the current year.

Colgate-Palmolive Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, August 14th. Investors of record on Monday, July 20th were issued 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 currently 84.13%.

Insider Activity at Colgate-Palmolive

In other Colgate-Palmolive news, CEO Noel R. Wallace sold 161,021 shares of the business’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 completion of the sale, the chief executive officer owned 362,231 shares in the company, valued at approximately $33,296,273.52. The trade was a 30.77% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed 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 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 sale, the director directly owned 28,373 shares of the company’s stock, valued at approximately $2,649,187.01. This trade represents a 12.81% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. 0.43% of the stock is owned by company insiders.

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.