California Public Employees Retirement System Decreases Stock Position in Colgate-Palmolive Company $CL

California Public Employees Retirement System lessened its stake in shares of Colgate-Palmolive Company (NYSE:CL) by 27.4% in the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 2,568,549 shares of the company’s stock after selling 968,287 shares during the period. California Public Employees Retirement System’s holdings in Colgate-Palmolive were worth $205,330,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors have also recently made changes to their positions in the company. Vermillion & White Wealth Management Group LLC lifted its position in shares of Colgate-Palmolive by 86.1% in the second quarter. Vermillion & White Wealth Management Group LLC now owns 335 shares of the company’s stock worth $30,000 after buying an additional 155 shares in the last quarter. Copia Wealth Management purchased a new position in Colgate-Palmolive during the 3rd quarter valued at approximately $29,000. Cloud Capital Management LLC bought a new stake in Colgate-Palmolive in the 3rd quarter worth approximately $30,000. MTM Investment Management LLC purchased a new stake in shares of Colgate-Palmolive during the 2nd quarter worth approximately $39,000. Finally, Kelleher Financial Advisors purchased a new stake in shares of Colgate-Palmolive during the 3rd quarter worth approximately $35,000. 80.41% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of research analysts recently weighed in on CL shares. Royal Bank Of Canada raised shares of Colgate-Palmolive from a “sector perform” rating to an “outperform” rating and set a $88.00 target price for the company in a report on Tuesday, December 9th. Argus reiterated a “hold” rating on shares of Colgate-Palmolive in a research report on Thursday, December 11th. UBS Group lifted their price objective on shares of Colgate-Palmolive from $90.00 to $93.00 and gave the stock a “buy” rating in a research note on Wednesday, January 14th. Bank of America boosted their target price on shares of Colgate-Palmolive from $90.00 to $100.00 and gave the stock a “buy” rating in a report on Monday, February 2nd. Finally, Piper Sandler increased their price target on shares of Colgate-Palmolive from $88.00 to $96.00 and gave the company an “overweight” rating in a report on Friday, January 30th. Eleven investment analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $94.75.

Insider Activity at Colgate-Palmolive

In related news, CFO Stanley J. Sutula III sold 97,843 shares of the firm’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 of the company’s stock, valued at $5,214,073.70. This trade represents a 63.89% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider John Hazlin sold 20,989 shares of the business’s stock in a transaction dated Tuesday, February 10th. The shares were sold at an average price of $94.25, for a total transaction of $1,978,213.25. Following the completion of the sale, the insider directly owned 17,645 shares of the company’s stock, valued at approximately $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. Over the last quarter, insiders sold 184,683 shares of company stock worth $17,486,693. 0.41% of the stock is currently owned by corporate insiders.

Colgate-Palmolive Stock Up 1.0%

NYSE CL opened at $88.85 on Monday. The company has a quick ratio of 0.54, a current ratio of 0.83 and a debt-to-equity ratio of 18.82. Colgate-Palmolive Company has a 52 week low of $74.54 and a 52 week high of $99.33. The firm has a market capitalization of $71.62 billion, a price-to-earnings ratio of 33.91, a PEG ratio of 3.98 and a beta of 0.28. The company has a fifty day moving average of $90.11 and a two-hundred day moving average of $83.22.

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

Colgate-Palmolive Increases Dividend

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

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.