Colgate-Palmolive Company $CL Stock Bought by International Assets Investment Management LLC

International Assets Investment Management LLC raised its position in shares of Colgate-Palmolive Company (NYSE:CL) by 171.5% in the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 10,000 shares of the company’s stock after purchasing an additional 6,317 shares during the period. International Assets Investment Management LLC’s holdings in Colgate-Palmolive were worth $853,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also recently made changes to their positions in the company. State Street Corp grew its holdings in Colgate-Palmolive by 97.4% during the 2nd quarter. State Street Corp now owns 94,195,992 shares of the company’s stock worth $8,635,889,000 after acquiring an additional 46,476,510 shares in the last quarter. Bank of New York Mellon Corp raised its holdings in shares of Colgate-Palmolive by 8.1% in the 2nd quarter. Bank of New York Mellon Corp now owns 13,532,417 shares of the company’s stock valued at $1,240,652,000 after purchasing an additional 1,010,872 shares in the last quarter. First Eagle Investment Management LLC lifted its position in shares of Colgate-Palmolive by 1.1% in the 2nd quarter. First Eagle Investment Management LLC now owns 8,205,699 shares of the company’s stock worth $752,298,000 after purchasing an additional 88,917 shares during the period. Bank of America Corp DE boosted its holdings in shares of Colgate-Palmolive by 17.4% in the 1st quarter. Bank of America Corp DE now owns 6,637,597 shares of the company’s stock valued at $565,722,000 after buying an additional 986,063 shares in the last quarter. Finally, Amundi raised its stake in shares of Colgate-Palmolive by 19.9% during the 2nd quarter. Amundi now owns 6,218,257 shares of the company’s stock worth $570,090,000 after acquiring an additional 1,033,918 shares in the last quarter. 80.41% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In other Colgate-Palmolive news, COO Panagiotis Tsourapas sold 10,000 shares of the business’s stock in a transaction that occurred on Monday, August 24th. The stock was sold at an average price of $92.05, for a total value of $920,500.00. Following the completion of the transaction, the chief operating officer directly owned 64,901 shares of the company’s stock, valued at approximately $5,974,137.05. The trade was a 13.35% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. 0.43% of the stock is currently owned by company insiders.

Colgate-Palmolive Stock Up 3.2%

NYSE:CL opened at $98.65 on Thursday. The company has a debt-to-equity ratio of 11.23, a current ratio of 0.96 and a quick ratio of 0.30. The company’s fifty day moving average price is $89.88 and its 200-day moving average price is $89.85. Colgate-Palmolive Company has a 1-year low of $75.96 and a 1-year high of $99.69. The firm has a market capitalization of $78.42 billion, a P/E ratio of 38.69, a PEG ratio of 4.34 and a beta of 0.31.

Colgate-Palmolive (NYSE:CL) last posted its earnings results on Friday, October 30th. The company reported $0.97 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.93 by $0.04. The company had revenue of $5.37 billion during the quarter, compared to the consensus estimate of $5.34 billion. Colgate-Palmolive had a net margin of 9.65% and a return on equity of 607.88%. The firm’s quarterly revenue was up 4.6% on a year-over-year basis. During the same period in the previous year, the firm posted $0.91 earnings per share. As a group, equities research analysts anticipate that Colgate-Palmolive Company will post 3.91 EPS for the current year.

Colgate-Palmolive Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, November 13th. Investors of record on Tuesday, October 20th will be issued a dividend of $0.53 per share. This represents a $2.12 annualized dividend and a yield of 2.1%. The ex-dividend date of this dividend is Tuesday, October 20th. Colgate-Palmolive’s dividend payout ratio (DPR) is 83.14%.

Colgate-Palmolive News Roundup

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

• Positive Sentiment: Investors have favored Colgate-Palmolive and other Dividend Kings amid political uncertainty, seeking dependable earnings and dividends. The company’s recent quarterly results also showed resilience: earnings and revenue exceeded consensus estimates, and revenue grew year over year. Article: Dividend Kings hitting 52-week highs
• Positive Sentiment: Several firms delivered supportive signals, including price-target increases from Wells Fargo and RBC, a bullish appreciation outlook from Morgan Stanley, and an Outperform reaffirmation from BNP Paribas Exane. Article: Wells Fargo raises price target Article: Morgan Stanley outlook Article: BNP Paribas Exane reaffirms Outperform Article: RBC raises price target
• Positive Sentiment: Commentary also highlights Colgate-Palmolive’s pricing power to help protect earnings and dividends from inflation, as well as improving execution and a potentially attractive valuation. Article: Dividend stocks with pricing power Article: Improving execution and valuation
• Neutral Sentiment: Barclays raised its target but maintained an Equal Weight/Hold stance, indicating limited conviction that the shares will outperform from current levels. Article: Barclays remains a Hold
• Negative Sentiment: JPMorgan lowered its expectations for CL’s share price, a counterpoint to the recent target increases. Article: JPMorgan lowers price expectations

Wall Street Analysts Forecast Growth

Several analysts have recently commented on the company. Wells Fargo & Company increased their price objective on Colgate-Palmolive from $90.00 to $95.00 and gave the company an “equal weight” rating in a report on Monday. Royal Bank Of Canada upped their target price on Colgate-Palmolive from $104.00 to $105.00 and gave the company an “outperform” rating in a research report on Monday. Bank of America increased their price target on Colgate-Palmolive from $100.00 to $105.00 and gave the company a “buy” rating in a research note on Monday. Sanford C. Bernstein reissued a “market perform” rating on shares of Colgate-Palmolive in a report on Thursday, August 13th. Finally, UBS Group upped their price objective on shares of Colgate-Palmolive from $106.00 to $112.00 and gave the company a “buy” rating in a report on Monday. Thirteen analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $101.22.

Colgate-Palmolive Company 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.