Lockheed Martin Investment Management Co. Sells 6,900 Shares of Colgate-Palmolive Company $CL

Lockheed Martin Investment Management Co. lowered its stake in shares of Colgate-Palmolive Company (NYSE:CL) by 26.4% during the 3rd quarter, according to the company in its most recent filing with the SEC. The fund owned 19,200 shares of the company’s stock after selling 6,900 shares during the quarter. Lockheed Martin Investment Management Co.’s holdings in Colgate-Palmolive were worth $1,535,000 at the end of the most recent quarter.

A number of other institutional investors also recently bought and sold shares of the stock. Vanguard Group Inc. lifted its holdings in shares of Colgate-Palmolive by 1.2% in the 2nd quarter. Vanguard Group Inc. now owns 82,751,689 shares of the company’s stock worth $7,522,129,000 after acquiring an additional 993,432 shares during the last quarter. Norges Bank bought a new stake in Colgate-Palmolive in the second quarter worth about $960,390,000. Invesco Ltd. boosted its position in shares of Colgate-Palmolive by 9.1% during the second quarter. Invesco Ltd. now owns 7,489,050 shares of the company’s stock valued at $680,755,000 after buying an additional 621,841 shares during the period. Acadian Asset Management LLC grew its stake in shares of Colgate-Palmolive by 42.9% during the second quarter. Acadian Asset Management LLC now owns 6,124,347 shares of the company’s stock valued at $556,663,000 after buying an additional 1,839,853 shares during the last quarter. Finally, Schroder Investment Management Group raised its holdings in shares of Colgate-Palmolive by 242.3% in the second quarter. Schroder Investment Management Group now owns 5,324,115 shares of the company’s stock worth $483,962,000 after buying an additional 3,768,784 shares during the period. 80.41% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several equities analysts have commented on the company. The Goldman Sachs Group cut their price objective on Colgate-Palmolive from $106.00 to $91.00 and set a “buy” rating on the stock in a research report on Thursday, October 2nd. Piper Sandler set a $88.00 price target on shares of Colgate-Palmolive and gave the stock an “overweight” rating in a report on Tuesday, January 6th. JPMorgan Chase & Co. lifted their price objective on shares of Colgate-Palmolive from $88.00 to $93.00 and gave the company an “overweight” rating in a report on Friday, January 16th. Argus reissued a “hold” rating on shares of Colgate-Palmolive in a research report on Thursday, December 11th. Finally, Raymond James Financial reduced their target price on shares of Colgate-Palmolive from $105.00 to $95.00 and set an “outperform” rating on the stock in a research report on Monday, October 20th. Eleven equities research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $89.44.

Colgate-Palmolive Trading Up 1.2%

NYSE CL opened at $85.78 on Friday. The company has a debt-to-equity ratio of 5.90, a quick ratio of 0.60 and a current ratio of 0.93. The company has a market capitalization of $69.14 billion, a price-to-earnings ratio of 24.03, a price-to-earnings-growth ratio of 5.74 and a beta of 0.30. The company’s 50-day simple moving average is $79.89 and its two-hundred day simple moving average is $81.62. Colgate-Palmolive Company has a one year low of $74.54 and a one year high of $100.18.

Colgate-Palmolive (NYSE:CL) last announced its quarterly earnings results on Friday, October 31st. The company reported $0.91 earnings per share for the quarter, topping the consensus estimate of $0.89 by $0.02. The firm had revenue of $5.13 billion during the quarter, compared to analysts’ expectations of $5.17 billion. Colgate-Palmolive had a net margin of 14.47% and a return on equity of 333.39%. The company’s revenue was up 1.9% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.91 EPS. Equities analysts forecast that Colgate-Palmolive Company will post 3.75 EPS for the current fiscal year.

Colgate-Palmolive Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, February 13th. Stockholders of record on Wednesday, January 21st will be given a $0.52 dividend. This represents a $2.08 annualized dividend and a dividend yield of 2.4%. The ex-dividend date of this dividend is Wednesday, January 21st. Colgate-Palmolive’s payout ratio is presently 58.26%.

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.