Citigroup Inc. Buys 409,710 Shares of Colgate-Palmolive Company $CL

Citigroup Inc. increased its stake in shares of Colgate-Palmolive Company (NYSE:CL) by 43.7% during the third quarter, HoldingsChannel reports. The fund owned 1,346,590 shares of the company’s stock after buying an additional 409,710 shares during the period. Citigroup Inc.’s holdings in Colgate-Palmolive were worth $107,646,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Tiemann Investment Advisors LLC increased its stake in Colgate-Palmolive by 2.1% in the 2nd quarter. Tiemann Investment Advisors LLC now owns 6,083 shares of the company’s stock valued at $553,000 after buying an additional 125 shares during the last quarter. Westside Investment Management Inc. grew its stake in shares of Colgate-Palmolive by 85.5% in the second quarter. Westside Investment Management Inc. now owns 282 shares of the company’s stock valued at $26,000 after buying an additional 130 shares in the last quarter. S.A. Mason LLC increased its holdings in Colgate-Palmolive by 3.9% during the third quarter. S.A. Mason LLC now owns 3,499 shares of the company’s stock worth $280,000 after buying an additional 130 shares during the last quarter. Security National Bank of Sioux City Iowa IA raised its position in Colgate-Palmolive by 0.8% during the third quarter. Security National Bank of Sioux City Iowa IA now owns 16,241 shares of the company’s stock worth $1,298,000 after acquiring an additional 130 shares in the last quarter. Finally, Stratos Wealth Advisors LLC lifted its stake in Colgate-Palmolive by 4.5% in the third quarter. Stratos Wealth Advisors LLC now owns 3,015 shares of the company’s stock valued at $241,000 after acquiring an additional 130 shares during the last quarter. 80.41% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other Colgate-Palmolive news, insider Sally Massey sold 15,851 shares of Colgate-Palmolive stock in a transaction dated Thursday, February 5th. The stock was sold at an average price of $95.03, for a total value of $1,506,320.53. Following the transaction, the insider owned 13,751 shares in the company, valued at $1,306,757.53. The trade was a 53.55% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, insider John Hazlin sold 20,989 shares of the business’s stock in a transaction dated Tuesday, February 10th. The stock was sold at an average price of $94.25, for a total value of $1,978,213.25. Following the transaction, the insider directly owned 17,645 shares of the company’s stock, valued at approximately $1,663,041.25. The trade was a 54.33% decrease in their position. The SEC filing for this sale provides additional information. Over the last ninety days, insiders sold 184,683 shares of company stock valued at $17,486,693. 0.41% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

A number of equities analysts have weighed in on the company. Weiss Ratings reissued a “hold (c)” rating on shares of Colgate-Palmolive in a research report on Wednesday, January 21st. TD Cowen reissued a “buy” rating on shares of Colgate-Palmolive in a report on Monday, February 2nd. Rothschild & Co Redburn set a $93.00 price target on Colgate-Palmolive in a report on Friday, February 13th. Piper Sandler lifted their price objective on shares of Colgate-Palmolive from $88.00 to $96.00 and gave the stock an “overweight” rating in a research report on Friday, January 30th. Finally, Barclays raised their target price on shares of Colgate-Palmolive from $83.00 to $88.00 and gave the stock an “equal weight” rating in a research note on Tuesday, February 3rd. Eleven research analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $94.75.

Colgate-Palmolive Stock Up 1.2%

CL stock opened at $95.07 on Monday. Colgate-Palmolive Company has a 52 week low of $74.54 and a 52 week high of $100.18. The business has a 50-day simple moving average of $85.61 and a 200 day simple moving average of $82.25. The company has a quick ratio of 0.27, a current ratio of 0.42 and a debt-to-equity ratio of 5.90. The company has a market cap of $76.63 billion, a PE ratio of 36.29, a price-to-earnings-growth ratio of 4.29 and a beta of 0.29.

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

Colgate-Palmolive Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, February 13th. Investors of record on Wednesday, January 21st were given a dividend of $0.52 per share. This represents a $2.08 annualized dividend and a dividend yield of 2.2%. The ex-dividend date was Wednesday, January 21st. Colgate-Palmolive’s dividend payout ratio is currently 79.39%.

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.