355,892 Shares of Colgate-Palmolive Company $CL Purchased by Mirae Asset Global Investments Co. Ltd.

Mirae Asset Global Investments Co. Ltd. bought a new stake in Colgate-Palmolive Company (NYSE:CL) during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor bought 355,892 shares of the company’s stock, valued at approximately $30,365,000.

A number of other institutional investors also recently bought and sold shares of the business. Virginia Estate & Retirement Planning Advisors Inc. increased its stake in shares of Colgate-Palmolive by 1,409.1% in the third quarter. Virginia Estate & Retirement Planning Advisors Inc. now owns 332 shares of the company’s stock worth $28,000 after acquiring an additional 310 shares during the period. Parvin Asset Management LLC purchased a new position in shares of Colgate-Palmolive during the 2nd quarter valued at about $32,000. Park Place Capital Corp lifted its holdings in shares of Colgate-Palmolive by 55.5% in the 2nd quarter. Park Place Capital Corp now owns 356 shares of the company’s stock valued at $33,000 after buying an additional 127 shares during the period. Cherry Tree Wealth Management LLC lifted its holdings in shares of Colgate-Palmolive by 7,840.0% in the 2nd quarter. Cherry Tree Wealth Management LLC now owns 397 shares of the company’s stock valued at $36,000 after buying an additional 392 shares during the period. Finally, Montgomery Financial Services LLC purchased a new stake in shares of Colgate-Palmolive in the second quarter worth about $36,000. 80.41% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Colgate-Palmolive

In other Colgate-Palmolive news, COO Panagiotis Tsourapas sold 10,000 shares of the stock in a transaction dated Monday, August 24th. The shares were sold at an average price of $92.05, for a total value of $920,500.00. Following the completion of the sale, the chief operating officer owned 64,901 shares in the company, valued at approximately $5,974,137.05. This represents a 13.35% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director John T. Cahill sold 4,170 shares of the firm’s stock in a transaction that occurred on Thursday, August 6th. The stock was sold at an average price of $93.37, for a total transaction of $389,352.90. Following the completion of the transaction, the director directly owned 28,373 shares in the company, valued at $2,649,187.01. This trade represents a 12.81% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. 0.43% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on CL. Bank of America upped their price objective on shares of Colgate-Palmolive from $100.00 to $105.00 and gave the stock a “buy” rating in a research report on Monday. Royal Bank Of Canada upped their price target on Colgate-Palmolive from $104.00 to $105.00 and gave the stock an “outperform” rating in a report on Monday. Citigroup increased their price target on Colgate-Palmolive from $105.00 to $110.00 and gave the stock a “buy” rating in a research report on Tuesday, July 14th. Jefferies Financial Group restated a “hold” rating and issued a $89.00 price objective (up from $88.00) on shares of Colgate-Palmolive in a research report on Monday, August 3rd. Finally, Wells Fargo & Company upped their target price on Colgate-Palmolive from $90.00 to $95.00 and gave the stock an “equal weight” rating in a research note on Monday. Thirteen research analysts have rated the stock with a Buy rating and seven have given a Hold rating to the stock. According to MarketBeat.com, Colgate-Palmolive has an average rating of “Moderate Buy” and an average target price of $100.78.

Colgate-Palmolive Price Performance

NYSE:CL opened at $97.59 on Tuesday. The stock has a 50 day moving average of $89.67 and a two-hundred day moving average of $89.72. 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 $77.79 billion, a P/E ratio of 38.27, a price-to-earnings-growth ratio of 4.44 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 issued its quarterly earnings results on Friday, October 30th. The company reported $0.97 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.93 by $0.04. Colgate-Palmolive had a return on equity of 464.63% and a net margin of 9.68%. The firm had revenue of $5.37 billion for the quarter, compared to analyst estimates of $5.34 billion. During the same period in the previous year, the company posted $0.91 earnings per share. The business’s revenue was up 4.6% on a year-over-year basis. On average, analysts expect that Colgate-Palmolive Company will post 3.89 earnings per share for the current fiscal year.

Colgate-Palmolive Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, November 13th. Stockholders of record on Tuesday, October 20th will be given a $0.53 dividend. This represents a $2.12 dividend on an annualized basis and a dividend yield of 2.2%. The ex-dividend date is Tuesday, October 20th. Colgate-Palmolive’s dividend payout ratio is 84.13%.

Key Stories Impacting Colgate-Palmolive

Here are the key news stories impacting Colgate-Palmolive this week:

• Positive Sentiment: Colgate-Palmolive reported third-quarter sales growth of 4.6%, exceeded earnings expectations, narrowed its full-year sales outlook, and raised its margin and EPS guidance. The results suggest pricing, productivity efforts, and steady demand are offsetting inflationary and operating-cost pressures. Colgate-Palmolive sales rise 4.6% and it lifts margin and EPS outlook
• Positive Sentiment: Management highlighted resilient global demand and premium product innovation, supporting expectations for continued organic growth despite a challenging cost environment. CL Q3 deep dive: global demand and premium innovation support steady growth amid cost pressures
• Positive Sentiment: Morgan Stanley raised its price target to $111 from $104 and maintained an Overweight rating. BNP Paribas Exane also lifted its target to $108 from $97 while reaffirming Outperform, reflecting greater confidence after the quarterly beat. Colgate-Palmolive Analysts Boost Their Forecasts After Upbeat Q3 Earnings
• Positive Sentiment: Royal Bank of Canada raised its target to $105 from $104 and retained an Outperform rating, while Wells Fargo increased its target to $95 from $90. The broad target revisions indicate improved earnings expectations, even though analyst conviction varies.
• Neutral Sentiment: JPMorgan lowered its target modestly to $102 from $104 but kept an Overweight rating. Barclays likewise maintained a Hold rating, signaling that some analysts view the recent rally and valuation as largely reflecting the improved outlook.
• Neutral Sentiment: Colgate-Palmolive appointed Akash Parekh to lead India marketing following Gunjit Jain’s departure. The leadership transition could affect execution in an important growth market, but no immediate financial impact was reported. Colgate-Palmolive Picks Akash Parekh To Lead India Marketing
• Negative Sentiment: Investors continue to monitor margin pressure and lingering questions about profit growth. Wells Fargo’s Equal Weight rating and target below the recent trading level underscore concerns that cost inflation and a relatively full valuation could limit further upside.

Colgate-Palmolive Profile

Colgate-Palmolive Company (NYSE: CL) is a global consumer products company focused on oral care, personal care, home care and pet nutrition. Its portfolio includes toothpaste, toothbrushes, mouthwash, liquid hand soap, body wash, deodorants, household cleaning products and pet food and treats.

The company markets well-known brands such as Colgate, Palmolive, elmex, meridol, Softsoap, Irish Spring, Ajax, Protex and Hill’s Science Diet. Colgate-Palmolive also provides veterinary and nutritional products through Hill’s Pet Nutrition, which serves pet owners and animal health professionals.

Founded in 1806 by William Colgate, the company developed from a soap and candle business into a diversified consumer goods manufacturer.