Truist Financial Corp Reduces Stock Position in Colgate-Palmolive Company $CL

Truist Financial Corp lowered its stake in Colgate-Palmolive Company (NYSE:CLFree Report) by 3.4% in the 3rd quarter, Holdings Channel reports. The firm owned 218,476 shares of the company’s stock after selling 7,736 shares during the quarter. Truist Financial Corp’s holdings in Colgate-Palmolive were worth $17,465,000 at the end of the most recent reporting period.

Several other large investors have also recently bought and sold shares of the company. Westside Investment Management Inc. raised its holdings in shares of Colgate-Palmolive by 85.5% in the 2nd quarter. Westside Investment Management Inc. now owns 282 shares of the company’s stock valued at $26,000 after acquiring an additional 130 shares in the last quarter. Copia Wealth Management purchased a new position in shares of Colgate-Palmolive during the third quarter worth approximately $29,000. Vermillion & White Wealth Management Group LLC raised its position in Colgate-Palmolive by 86.1% in the 2nd quarter. Vermillion & White Wealth Management Group LLC now owns 335 shares of the company’s stock worth $30,000 after purchasing an additional 155 shares during the period. MTM Investment Management LLC purchased a new position in shares of Colgate-Palmolive in the second quarter worth about $39,000. Finally, Louisbourg Investments Inc. increased its stake in Colgate-Palmolive by 94.7% in the 3rd quarter. Louisbourg Investments Inc. now owns 514 shares of the company’s stock worth $41,000 after purchasing an additional 250 shares during the period. 80.41% of the stock is owned by institutional investors.

Colgate-Palmolive Stock Performance

Shares of NYSE CL opened at $90.28 on Friday. Colgate-Palmolive Company has a 1 year low of $74.54 and a 1 year high of $100.18. The company has a debt-to-equity ratio of 5.90, a current ratio of 0.93 and a quick ratio of 0.60. The stock has a market cap of $72.77 billion, a PE ratio of 25.29, a price-to-earnings-growth ratio of 5.74 and a beta of 0.30. The firm has a fifty day moving average price of $80.77 and a 200-day moving average price of $81.43.

Colgate-Palmolive (NYSE:CLGet Free Report) last posted its quarterly earnings results on Friday, January 30th. The company reported $0.95 earnings per share for the quarter, topping the consensus estimate of $0.91 by $0.04. Colgate-Palmolive had a return on equity of 333.39% and a net margin of 14.47%.The business had revenue of $5.23 billion during the quarter, compared to the consensus estimate of $5.13 billion. During the same period in the prior year, the company posted $0.91 EPS. The firm’s revenue for the quarter was up 5.8% compared to the same quarter last year. Equities analysts anticipate that Colgate-Palmolive Company will post 3.75 earnings per share 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. Investors of record on Wednesday, January 21st will be issued a dividend of $0.52 per share. This represents a $2.08 annualized dividend and a yield of 2.3%. The ex-dividend date is Wednesday, January 21st. Colgate-Palmolive’s dividend payout ratio is presently 58.26%.

Trending Headlines about Colgate-Palmolive

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Wall Street Analyst Weigh In

CL has been the topic of a number of analyst reports. UBS Group boosted their price objective on shares of Colgate-Palmolive from $90.00 to $93.00 and gave the company a “buy” rating in a research report on Wednesday, January 14th. JPMorgan Chase & Co. upped their price target on Colgate-Palmolive from $88.00 to $93.00 and gave the stock an “overweight” rating in a research note on Friday, January 16th. The Goldman Sachs Group restated a “buy” rating and issued a $94.00 price objective on shares of Colgate-Palmolive in a report on Saturday. Piper Sandler reissued an “overweight” rating and issued a $96.00 target price on shares of Colgate-Palmolive in a research note on Friday. Finally, Citigroup cut their price target on shares of Colgate-Palmolive from $105.00 to $95.00 and set a “buy” rating on the stock in a report on Monday, November 3rd. Eleven equities research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company. Based on data from MarketBeat.com, Colgate-Palmolive presently has an average rating of “Moderate Buy” and an average price target of $90.13.

Read Our Latest Research Report on CL

Colgate-Palmolive 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

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

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