Te Ahumairangi Investment Management Ltd Has $5.55 Million Stock Holdings in Colgate-Palmolive Company $CL

Te Ahumairangi Investment Management Ltd raised its position in Colgate-Palmolive Company (NYSE:CL) by 29.2% during the 3rd quarter, according to its most recent filing with the SEC. The institutional investor owned 69,470 shares of the company’s stock after acquiring an additional 15,690 shares during the period. Te Ahumairangi Investment Management Ltd’s holdings in Colgate-Palmolive were worth $5,553,000 as of its most recent filing with the SEC.

A number of other large investors have also recently bought and sold shares of the company. Vanguard Group Inc. raised its holdings in shares of Colgate-Palmolive by 1.2% in the second quarter. Vanguard Group Inc. now owns 82,751,689 shares of the company’s stock valued at $7,522,129,000 after purchasing an additional 993,432 shares during the last quarter. Norges Bank bought a new stake in shares of Colgate-Palmolive in the second quarter worth $960,390,000. Invesco Ltd. boosted its holdings in Colgate-Palmolive by 13.1% during the third quarter. Invesco Ltd. now owns 8,467,993 shares of the company’s stock worth $676,931,000 after purchasing an additional 978,943 shares during the last quarter. Diamond Hill Capital Management Inc. grew 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 valued at $645,719,000 after purchasing an additional 2,572,796 shares in the last quarter. Finally, Legal & General Group Plc increased its stake in Colgate-Palmolive by 2.8% in the 3rd quarter. Legal & General Group Plc now owns 5,919,524 shares of the company’s stock valued at $473,207,000 after buying an additional 162,253 shares during the last quarter. Institutional investors and hedge funds own 80.41% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages have commented on CL. Argus reissued a “hold” rating on shares of Colgate-Palmolive in a research report on Thursday, December 11th. Evercore lifted their target price on Colgate-Palmolive from $94.00 to $100.00 and gave the company an “outperform” rating in a research report on Monday, February 2nd. UBS Group upped their target price on Colgate-Palmolive from $90.00 to $93.00 and gave the stock a “buy” rating in a report on Wednesday, January 14th. Deutsche Bank Aktiengesellschaft increased their price target on Colgate-Palmolive from $83.00 to $90.00 and gave the company a “hold” rating in a research report on Monday, February 2nd. Finally, Piper Sandler raised their price target on Colgate-Palmolive from $88.00 to $96.00 and gave the company an “overweight” rating in a research note on Friday, January 30th. Eleven analysts have rated the stock with a Buy rating and six have given a Hold rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $94.75.

Colgate-Palmolive Stock Performance

Shares of CL traded up $1.18 during mid-day trading on Friday, reaching $89.13. The company’s stock had a trading volume of 771,411 shares, compared to its average volume of 7,056,222. Colgate-Palmolive Company has a 1-year low of $74.54 and a 1-year high of $99.33. The stock has a market cap of $71.84 billion, a P/E ratio of 34.04, a PEG ratio of 4.01 and a beta of 0.28. The business has a 50-day simple moving average of $89.89 and a two-hundred day simple moving average of $83.20. The company has a current ratio of 0.83, a quick ratio of 0.54 and a debt-to-equity ratio of 18.82.

Colgate-Palmolive (NYSE:CL) last posted its earnings results on Friday, January 30th. The company reported $0.95 earnings per share for the quarter, topping analysts’ consensus estimates of $0.91 by $0.04. Colgate-Palmolive had a return on equity of 353.72% and a net margin of 10.45%.The business had revenue of $5.23 billion for the quarter, compared to analyst estimates of $5.13 billion. During the same period in the previous year, the firm earned $0.91 EPS. The firm’s revenue was up 5.8% compared to the same quarter last year. As a group, equities research analysts anticipate that Colgate-Palmolive Company will post 3.75 earnings per share for the current fiscal year.

Colgate-Palmolive Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, May 15th. Shareholders of record on Monday, April 20th will be issued a $0.53 dividend. This is an increase from Colgate-Palmolive’s previous quarterly dividend of $0.52. This represents a $2.12 annualized dividend and a dividend yield of 2.4%. The ex-dividend date is Monday, April 20th. Colgate-Palmolive’s dividend payout ratio is presently 79.39%.

Insider Activity at Colgate-Palmolive

In related news, CFO Stanley J. Sutula III sold 97,843 shares of the company’s stock in a transaction dated Wednesday, February 4th. The shares were sold at an average price of $94.27, for a total value of $9,223,659.61. Following the transaction, the chief financial officer owned 55,310 shares in the company, valued at approximately $5,214,073.70. This represents a 63.89% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider John Hazlin sold 20,989 shares of the firm’s stock in a transaction that occurred on Tuesday, February 10th. The stock was sold at an average price of $94.25, for a total transaction of $1,978,213.25. Following the sale, the insider owned 17,645 shares of the company’s stock, valued at $1,663,041.25. This trade represents a 54.33% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 184,683 shares of company stock valued at $17,486,693 over the last three months. Company insiders own 0.34% of the company’s stock.

About Colgate-Palmolive

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.