Danske Bank A S Makes New $67.36 Million Investment in Colgate-Palmolive Company $CL

Danske Bank A S purchased a new position in shares of Colgate-Palmolive Company (NYSE:CL) during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 842,669 shares of the company’s stock, valued at approximately $67,363,000.

Several other institutional investors and hedge funds also recently made changes to their positions in the business. Copia Wealth Management bought a new stake in Colgate-Palmolive in the third quarter worth $29,000. Vermillion & White Wealth Management Group LLC lifted its stake in shares of Colgate-Palmolive by 86.1% in the 2nd quarter. Vermillion & White Wealth Management Group LLC now owns 335 shares of the company’s stock valued at $30,000 after acquiring an additional 155 shares during the last quarter. Cloud Capital Management LLC purchased a new stake in Colgate-Palmolive during the 3rd quarter valued at about $30,000. Kelleher Financial Advisors purchased a new stake in Colgate-Palmolive during the 3rd quarter valued at about $35,000. Finally, JPL Wealth Management LLC purchased a new position in Colgate-Palmolive in the 3rd quarter worth approximately $38,000. Institutional investors own 80.41% of the company’s stock.

Colgate-Palmolive Stock Down 2.6%

CL stock opened at $87.56 on Thursday. The company has a market capitalization of $70.58 billion, a price-to-earnings ratio of 33.42, a price-to-earnings-growth ratio of 4.03 and a beta of 0.28. The company has a debt-to-equity ratio of 18.82, a quick ratio of 0.54 and a current ratio of 0.83. The business’s 50 day moving average price is $90.85 and its two-hundred day moving average price is $83.34. 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 issued its quarterly earnings results on Friday, January 30th. The company reported $0.95 earnings per share for the quarter, topping the consensus estimate of $0.91 by $0.04. The company had revenue of $5.23 billion for the quarter, compared to analysts’ expectations of $5.13 billion. Colgate-Palmolive had a return on equity of 353.72% and a net margin of 10.45%.The firm’s revenue for the quarter was up 5.8% on a year-over-year basis. During the same period in the prior year, the firm earned $0.91 earnings per share. As a group, analysts forecast that Colgate-Palmolive Company will post 3.75 earnings per share for the current fiscal year.

Colgate-Palmolive Increases Dividend

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

Insider Buying and Selling

In other news, insider Sally Massey sold 15,851 shares of the firm’s stock in a transaction on Thursday, February 5th. The stock was sold at an average price of $95.03, for a total transaction of $1,506,320.53. Following the completion of the transaction, the insider directly owned 13,751 shares in the company, valued at $1,306,757.53. This trade represents a 53.55% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider John Hazlin sold 20,989 shares of the 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 sale, the insider directly owned 17,645 shares in the company, valued at $1,663,041.25. This trade represents a 54.33% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last 90 days, insiders sold 184,683 shares of company stock valued at $17,486,693. 0.34% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

Several research analysts have recently issued reports on CL shares. Rothschild & Co Redburn set a $93.00 target price on shares of Colgate-Palmolive in a report on Friday, February 13th. TD Cowen reissued a “buy” rating on shares of Colgate-Palmolive in a report on Monday, February 2nd. Evercore increased their target price on shares of Colgate-Palmolive from $94.00 to $100.00 and gave the stock an “outperform” rating in a report on Monday, February 2nd. Wells Fargo & Company boosted their price target on Colgate-Palmolive from $86.00 to $94.00 and gave the company an “equal weight” rating in a report on Sunday, February 1st. Finally, Piper Sandler lifted their price objective on Colgate-Palmolive from $88.00 to $96.00 and gave the stock an “overweight” rating in a research report on Friday, January 30th. Eleven research analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $94.75.

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.