Colgate-Palmolive Company $CL Stock Position Lifted by Mitsubishi UFJ Trust & Banking Corp

Mitsubishi UFJ Trust & Banking Corp lifted its position in Colgate-Palmolive Company (NYSE:CL) by 3.5% in the 2nd quarter, Holdings Channel.com reports. The fund owned 1,053,562 shares of the company’s stock after acquiring an additional 35,749 shares during the period. Mitsubishi UFJ Trust & Banking Corp’s holdings in Colgate-Palmolive were worth $96,591,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also made changes to their positions in the company. Vanguard Group Inc. boosted its holdings in Colgate-Palmolive by 1.2% in the fourth quarter. Vanguard Group Inc. now owns 83,947,987 shares of the company’s stock worth $6,633,570,000 after purchasing an additional 1,026,985 shares during the period. Geode Capital Management LLC grew its position in shares of Colgate-Palmolive by 1.4% during the 4th quarter. Geode Capital Management LLC now owns 22,103,901 shares of the company’s stock valued at $1,754,657,000 after buying an additional 304,426 shares during the last quarter. Morgan Stanley grew its position in shares of Colgate-Palmolive by 1.7% during the 4th quarter. Morgan Stanley now owns 19,246,217 shares of the company’s stock valued at $1,520,836,000 after buying an additional 323,367 shares during the last quarter. Bank of New York Mellon Corp raised its stake in Colgate-Palmolive by 172.5% during the first quarter. Bank of New York Mellon Corp now owns 12,521,545 shares of the company’s stock worth $1,067,211,000 after acquiring an additional 7,927,238 shares during the period. Finally, Norges Bank acquired a new stake in Colgate-Palmolive during the fourth quarter worth about $861,670,000. 80.41% of the stock is owned by institutional investors and hedge funds.

Colgate-Palmolive Trading Down 1.1%

Shares of NYSE:CL opened at $91.90 on Friday. The company has a quick ratio of 0.67, a current ratio of 1.03 and a debt-to-equity ratio of 13.82. The company’s 50-day moving average price is $91.67 and its 200 day moving average price is $89.99. The company has a market cap of $73.26 billion, a PE ratio of 36.47, a P/E/G ratio of 4.49 and a beta of 0.33. Colgate-Palmolive Company has a fifty-two week low of $74.54 and a fifty-two week high of $99.33.

Colgate-Palmolive (NYSE:CL) last released its quarterly earnings results on Friday, July 31st. The company reported $0.99 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.95 by $0.04. The company had revenue of $5.36 billion during the quarter, compared to analysts’ expectations of $5.36 billion. Colgate-Palmolive had a return on equity of 464.63% and a net margin of 9.68%.The company’s revenue for the quarter was up 4.9% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.92 earnings per share. Sell-side analysts anticipate that Colgate-Palmolive Company will post 3.86 earnings per share for the current year.

Colgate-Palmolive Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, August 14th. Stockholders of record on Monday, July 20th were paid a $0.53 dividend. This represents a $2.12 dividend on an annualized basis and a dividend yield of 2.3%. The ex-dividend date of this dividend was Monday, July 20th. Colgate-Palmolive’s dividend payout ratio is currently 84.13%.

Analysts Set New Price Targets

A number of equities analysts have commented on CL shares. Piper Sandler lifted their target price on Colgate-Palmolive from $92.00 to $96.00 and gave the company an “overweight” rating in a research note on Thursday, July 9th. Citigroup increased their price target on Colgate-Palmolive from $105.00 to $110.00 and gave the stock a “buy” rating in a research report on Tuesday, July 14th. JPMorgan Chase & Co. cut their price target on Colgate-Palmolive from $104.00 to $103.00 and set an “overweight” rating on the stock in a report on Monday, August 3rd. Weiss Ratings restated a “hold (c+)” rating on shares of Colgate-Palmolive in a research report on Friday, July 31st. Finally, Sanford C. Bernstein restated a “market perform” rating on shares of Colgate-Palmolive in a research note on Thursday. Twelve equities research analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $99.00.

Insider Buying and Selling

In other news, Director John T. Cahill sold 4,170 shares of the stock in a transaction that occurred on Thursday, August 6th. The shares were sold at an average price of $93.37, for a total value of $389,352.90. Following the completion of the transaction, the director directly owned 28,373 shares in the company, valued at $2,649,187.01. This trade represents a 12.81% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Noel R. Wallace sold 161,021 shares of the firm’s stock in a transaction that occurred on Tuesday, August 4th. The shares were sold at an average price of $91.92, for a total transaction of $14,801,050.32. Following the transaction, the chief executive officer owned 362,231 shares in the company, valued at $33,296,273.52. This represents a 30.77% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Corporate insiders own 0.43% of the company’s stock.

Colgate-Palmolive Company 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.