Strs Ohio Lowers Position in Colgate-Palmolive Company $CL

Strs Ohio trimmed its holdings in shares of Colgate-Palmolive Company (NYSE:CLFree Report) by 2.8% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 255,681 shares of the company’s stock after selling 7,337 shares during the quarter. Strs Ohio’s holdings in Colgate-Palmolive were worth $20,204,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently modified their holdings of the business. Vanguard Group Inc. increased its position in shares of Colgate-Palmolive by 1.2% during the fourth quarter. Vanguard Group Inc. now owns 83,947,987 shares of the company’s stock valued at $6,633,570,000 after acquiring an additional 1,026,985 shares during the last quarter. Invesco Ltd. increased its position in shares of Colgate-Palmolive by 13.1% during the third quarter. Invesco Ltd. now owns 8,467,993 shares of the company’s stock valued at $676,931,000 after acquiring an additional 978,943 shares during the last quarter. Diamond Hill Capital Management Inc. increased its position in Colgate-Palmolive by 46.7% in the third quarter. Diamond Hill Capital Management Inc. now owns 8,077,549 shares of the company’s stock worth $645,719,000 after buying an additional 2,572,796 shares during the last quarter. Ameriprise Financial Inc. increased its position in Colgate-Palmolive by 5.1% in the third quarter. Ameriprise Financial Inc. now owns 6,423,764 shares of the company’s stock worth $517,167,000 after buying an additional 314,584 shares during the last quarter. Finally, Amundi increased its position in Colgate-Palmolive by 41.6% in the third quarter. Amundi now owns 6,294,445 shares of the company’s stock worth $487,505,000 after buying an additional 1,850,412 shares during the last quarter. 80.41% of the stock is owned by hedge funds and other institutional investors.

Colgate-Palmolive Price Performance

Shares of NYSE CL opened at $87.15 on Monday. The firm has a market capitalization of $69.92 billion, a P/E ratio of 33.91, a P/E/G ratio of 4.46 and a beta of 0.31. The company has a quick ratio of 0.29, a current ratio of 0.44 and a debt-to-equity ratio of 18.82. The stock’s 50-day simple moving average is $87.95 and its two-hundred day simple moving average is $84.15. Colgate-Palmolive Company has a twelve month low of $74.54 and a twelve month high of $99.33.

Colgate-Palmolive (NYSE:CLGet Free Report) last announced its earnings results on Friday, May 1st. The company reported $0.97 earnings per share for the quarter, topping analysts’ consensus estimates of $0.94 by $0.03. The business had revenue of $5.32 billion for the quarter, compared to analyst estimates of $5.22 billion. Colgate-Palmolive had a return on equity of 386.76% and a net margin of 10.04%.The company’s quarterly revenue was up 8.4% compared to the same quarter last year. During the same period in the prior year, the company earned $0.91 EPS. As a group, equities analysts anticipate that Colgate-Palmolive Company will post 3.85 EPS for the current fiscal year.

Colgate-Palmolive Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, May 15th. Shareholders of record on Monday, April 20th will be paid a $0.53 dividend. The ex-dividend date is Monday, April 20th. This represents a $2.12 dividend on an annualized basis and a yield of 2.4%. This is an increase from Colgate-Palmolive’s previous quarterly dividend of $0.52. Colgate-Palmolive’s dividend payout ratio is currently 82.49%.

Trending Headlines about Colgate-Palmolive

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

Insiders Place Their Bets

In other Colgate-Palmolive news, COO Panagiotis Tsourapas sold 35,000 shares of the company’s stock in a transaction dated Wednesday, February 11th. The stock was sold at an average price of $94.61, for a total value of $3,311,350.00. Following the transaction, the chief operating officer directly owned 10,415 shares in the company, valued at $985,363.15. This represents a 77.07% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider John Hazlin sold 20,989 shares of the company’s stock in a transaction dated Tuesday, February 10th. The stock was sold at an average price of $94.25, for a total value of $1,978,213.25. Following the completion of the transaction, the insider owned 17,645 shares in the company, valued at $1,663,041.25. This represents a 54.33% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 184,683 shares of company stock valued at $17,486,693 over the last 90 days. 0.43% of the stock is owned by insiders.

Analyst Ratings Changes

A number of analysts have issued reports on CL shares. Piper Sandler decreased their target price on Colgate-Palmolive from $96.00 to $92.00 and set an “overweight” rating for the company in a research report on Wednesday, April 8th. Citigroup raised their target price on Colgate-Palmolive from $95.00 to $105.00 and gave the stock a “buy” rating in a research report on Monday, February 2nd. Bank of America decreased their target price on Colgate-Palmolive from $105.00 to $102.00 and set a “buy” rating for the company in a research report on Friday, April 10th. UBS Group decreased their target price on Colgate-Palmolive from $100.00 to $98.00 and set a “buy” rating for the company in a research report on Tuesday, April 7th. Finally, The Goldman Sachs Group reissued a “buy” rating on shares of Colgate-Palmolive in a research report on Friday. Twelve analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $95.56.

Check Out Our Latest Stock Report on Colgate-Palmolive

Colgate-Palmolive Company Profile

(Free Report)

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.

Further Reading

Want to see what other hedge funds are holding CL? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Colgate-Palmolive Company (NYSE:CLFree Report).

Institutional Ownership by Quarter for Colgate-Palmolive (NYSE:CL)

Receive News & Ratings for Colgate-Palmolive Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Colgate-Palmolive and related companies with MarketBeat.com's FREE daily email newsletter.