DNB Asset Management AS Has $60.38 Million Holdings in Colgate-Palmolive Company $CL

DNB Asset Management AS trimmed its position in shares of Colgate-Palmolive Company (NYSE:CL) by 17.9% during the third quarter, Holdings Channel.com reports. The firm owned 755,338 shares of the company’s stock after selling 164,495 shares during the period. DNB Asset Management AS’s holdings in Colgate-Palmolive were worth $60,382,000 as of its most recent SEC filing.

Other hedge funds have also bought and sold shares of the company. Vanguard Group Inc. lifted its stake 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 buying an additional 993,432 shares in the last quarter. Norges Bank acquired a new stake in shares of Colgate-Palmolive in the 2nd quarter worth about $960,390,000. Diamond Hill Capital Management Inc. raised its holdings in shares of Colgate-Palmolive by 46.7% in the 3rd quarter. Diamond Hill Capital Management Inc. now owns 8,077,549 shares of the company’s stock worth $645,719,000 after acquiring an additional 2,572,796 shares during the last quarter. Invesco Ltd. lifted its position in Colgate-Palmolive by 9.1% in the 2nd quarter. Invesco Ltd. now owns 7,489,050 shares of the company’s stock valued at $680,755,000 after acquiring an additional 621,841 shares in the last quarter. Finally, Acadian Asset Management LLC boosted its stake in Colgate-Palmolive by 42.9% during the 2nd quarter. Acadian Asset Management LLC now owns 6,124,347 shares of the company’s stock valued at $556,663,000 after purchasing an additional 1,839,853 shares during the last quarter. Institutional investors and hedge funds own 80.41% of the company’s stock.

Analyst Ratings Changes

A number of research firms have recently weighed in on CL. TD Cowen restated a “buy” rating on shares of Colgate-Palmolive in a report on Monday, February 2nd. Rothschild & Co Redburn set a $93.00 price objective on Colgate-Palmolive in a research note on Friday, February 13th. Piper Sandler upped their target price on shares of Colgate-Palmolive from $88.00 to $96.00 and gave the stock an “overweight” rating in a research note on Friday, January 30th. Argus reissued a “hold” rating on shares of Colgate-Palmolive in a research report on Thursday, December 11th. Finally, Weiss Ratings restated a “hold (c)” rating on shares of Colgate-Palmolive in a report on Wednesday, January 21st. Eleven investment analysts have rated the stock with a Buy rating and six have given a Hold rating to the company’s stock. According to MarketBeat, Colgate-Palmolive has an average rating of “Moderate Buy” and a consensus target price of $94.75.

Colgate-Palmolive Trading Up 0.9%

NYSE CL opened at $97.50 on Friday. The business’s fifty day moving average is $87.08 and its 200-day moving average is $82.63. The company has a debt-to-equity ratio of 18.82, a current ratio of 0.83 and a quick ratio of 0.27. The stock has a market capitalization of $78.59 billion, a price-to-earnings ratio of 37.21, a PEG ratio of 4.36 and a beta of 0.29. Colgate-Palmolive Company has a one year low of $74.54 and a one year high of $100.18.

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

Colgate-Palmolive Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, February 13th. Stockholders of record on Wednesday, January 21st were paid a dividend of $0.52 per share. The ex-dividend date was Wednesday, January 21st. This represents a $2.08 annualized dividend and a dividend yield of 2.1%. Colgate-Palmolive’s dividend payout ratio (DPR) is presently 79.39%.

Insider Activity at Colgate-Palmolive

In other news, CFO Stanley J. Sutula III sold 97,843 shares of the company’s stock in a transaction on Wednesday, February 4th. The stock was sold at an average price of $94.27, for a total transaction of $9,223,659.61. Following the transaction, the chief financial officer owned 55,310 shares of the company’s stock, valued at $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 available at the SEC website. Also, insider John Hazlin sold 20,989 shares of the stock in a transaction on 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 owned 17,645 shares of the company’s stock, valued at $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 quarter, insiders sold 184,683 shares of company stock worth $17,486,693. 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.