Securian Asset Management Inc. Has $3.85 Million Stock Position in Colgate-Palmolive Company $CL

Securian Asset Management Inc. lowered its holdings in shares of Colgate-Palmolive Company (NYSE:CL) by 1.5% in the second quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 42,340 shares of the company’s stock after selling 647 shares during the period. Securian Asset Management Inc.’s holdings in Colgate-Palmolive were worth $3,849,000 as of its most recent filing with the SEC.

Other institutional investors also recently modified their holdings of the company. Westend Capital Management LLC raised its holdings in shares of Colgate-Palmolive by 111.1% during the 1st quarter. Westend Capital Management LLC now owns 266 shares of the company’s stock worth $25,000 after buying an additional 140 shares in the last quarter. Cornerstone Planning Group LLC raised its holdings in shares of Colgate-Palmolive by 1,913.3% during the 1st quarter. Cornerstone Planning Group LLC now owns 302 shares of the company’s stock worth $28,000 after buying an additional 287 shares in the last quarter. Saudi Central Bank acquired a new position in shares of Colgate-Palmolive during the 1st quarter worth $29,000. Ransom Advisory Ltd acquired a new position in shares of Colgate-Palmolive during the 1st quarter worth $33,000. Finally, Y.D. More Investments Ltd bought a new stake in Colgate-Palmolive during the 1st quarter worth $37,000. Institutional investors and hedge funds own 80.41% of the company’s stock.

Colgate-Palmolive Trading Down 0.2%

Shares of CL stock opened at $78.60 on Wednesday. The stock has a market cap of $63.52 billion, a price-to-earnings ratio of 22.08, a PEG ratio of 4.62 and a beta of 0.34. The stock has a 50-day moving average of $81.72 and a 200-day moving average of $87.13. The company has a current ratio of 0.89, a quick ratio of 0.57 and a debt-to-equity ratio of 6.79. Colgate-Palmolive Company has a 1-year low of $76.68 and a 1-year high of $100.18.

Colgate-Palmolive (NYSE:CL) last issued its quarterly earnings results on Friday, August 1st. The company reported $0.92 earnings per share for the quarter, beating the consensus estimate of $0.89 by $0.03. The company had revenue of $5.11 billion during the quarter, compared to analysts’ expectations of $5.03 billion. Colgate-Palmolive had a return on equity of 377.63% and a net margin of 14.55%.The business’s quarterly revenue was up 1.0% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.91 earnings per share. On average, equities research analysts forecast that Colgate-Palmolive Company will post 3.75 earnings per share for the current year.

Colgate-Palmolive Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, November 14th. Investors of record on Friday, October 17th will be given a dividend of $0.52 per share. The ex-dividend date is Friday, October 17th. This represents a $2.08 annualized dividend and a dividend yield of 2.6%. Colgate-Palmolive’s dividend payout ratio is presently 58.43%.

Analyst Ratings Changes

A number of equities research analysts recently weighed in on CL shares. Piper Sandler started coverage on Colgate-Palmolive in a research report on Friday, October 3rd. They set a “neutral” rating and a $84.00 price objective on the stock. Wells Fargo & Company reduced their price objective on Colgate-Palmolive from $83.00 to $80.00 and set an “underweight” rating on the stock in a research report on Thursday, September 25th. Citigroup reduced their price objective on Colgate-Palmolive from $108.00 to $105.00 and set a “buy” rating on the stock in a research report on Monday, August 4th. Deutsche Bank Aktiengesellschaft set a $86.00 price objective on Colgate-Palmolive in a research report on Friday, October 10th. Finally, Barclays reduced their price objective on Colgate-Palmolive from $87.00 to $82.00 and set an “equal weight” rating on the stock in a research report on Wednesday, October 1st. Eight equities research analysts have rated the stock with a Buy rating, five have assigned a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, Colgate-Palmolive presently has an average rating of “Moderate Buy” and an average target price of $91.50.

About Colgate-Palmolive

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.