Sumitomo Life Insurance Co. Sells 8,966 Shares of Colgate-Palmolive Company $CL

Sumitomo Life Insurance Co. lessened its holdings in shares of Colgate-Palmolive Company (NYSE:CL) by 38.4% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 14,394 shares of the company’s stock after selling 8,966 shares during the period. Sumitomo Life Insurance Co.’s holdings in Colgate-Palmolive were worth $1,320,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also bought and sold shares of the company. Norges Bank bought a new stake in shares of Colgate-Palmolive in the 4th quarter worth approximately $861,670,000. Bank of New York Mellon Corp raised its holdings in shares of 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 valued at $1,067,211,000 after acquiring an additional 7,927,238 shares in the last quarter. Northwestern Mutual Wealth Management Co. lifted its stake in Colgate-Palmolive by 8,040.1% in the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 4,655,987 shares of the company’s stock worth $380,666,000 after acquiring an additional 4,598,789 shares during the period. Balyasny Asset Management L.P. bought a new stake in Colgate-Palmolive in the fourth quarter valued at $236,682,000. Finally, Deutsche Bank AG boosted its holdings in Colgate-Palmolive by 33.9% in the fourth quarter. Deutsche Bank AG now owns 10,845,857 shares of the company’s stock valued at $857,040,000 after acquiring an additional 2,746,920 shares in the last quarter. Hedge funds and other institutional investors own 80.41% of the company’s stock.

Insider Transactions at Colgate-Palmolive

In related news, CEO Noel R. Wallace sold 161,021 shares of the business’s stock in a transaction dated 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 sale, the chief executive officer owned 362,231 shares of the company’s stock, valued at $33,296,273.52. The trade was a 30.77% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, Director John T. Cahill sold 4,170 shares of the company’s stock in a transaction dated Thursday, August 6th. The stock was sold at an average price of $93.37, for a total transaction of $389,352.90. Following the completion of the sale, the director owned 28,373 shares in the company, valued at approximately $2,649,187.01. This trade represents a 12.81% decrease in their position. The SEC filing for this sale provides additional information. Company insiders own 0.43% of the company’s stock.

Wall Street Analysts Forecast Growth

CL has been the topic of a number of research analyst reports. Piper Sandler boosted their price objective on shares of Colgate-Palmolive from $92.00 to $96.00 and gave the company an “overweight” rating in a research report on Thursday, July 9th. Citigroup raised their target price on shares of 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. reduced their price target on shares of Colgate-Palmolive from $104.00 to $103.00 and set an “overweight” rating on the stock in a research report on Monday, August 3rd. Sanford C. Bernstein reissued a “market perform” rating on shares of Colgate-Palmolive in a research note on Thursday, August 13th. Finally, Weiss Ratings restated a “hold (c+)” rating on shares of Colgate-Palmolive in a report on Friday, July 31st. Twelve investment analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the company’s stock. According to data from MarketBeat, Colgate-Palmolive presently has an average rating of “Moderate Buy” and an average target price of $99.00.

Colgate-Palmolive Price Performance

Shares of CL stock opened at $91.02 on Friday. The business’s fifty day moving average is $91.89 and its 200 day moving average is $90.14. 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 stock has a market cap of $72.56 billion, a price-to-earnings ratio of 36.12, a PEG ratio of 4.19 and a beta of 0.33. Colgate-Palmolive Company has a twelve month low of $74.54 and a twelve month high of $99.33.

Colgate-Palmolive (NYSE:CL) last announced its quarterly earnings data on Friday, July 31st. The company reported $0.99 EPS for the quarter, beating the consensus estimate of $0.95 by $0.04. Colgate-Palmolive had a return on equity of 464.63% and a net margin of 9.68%.The business had revenue of $5.36 billion during the quarter, compared to analyst estimates of $5.36 billion. During the same quarter last year, the firm posted $0.92 earnings per share. The company’s revenue for the quarter was up 4.9% on a year-over-year basis. Research analysts expect that Colgate-Palmolive Company will post 3.86 EPS for the current fiscal year.

Colgate-Palmolive Dividend Announcement

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

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.