Colgate-Palmolive Company $CL Shares Sold by BNP Paribas

BNP Paribas trimmed its stake in shares of Colgate-Palmolive Company (NYSE:CL) by 96.3% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 3,383 shares of the company’s stock after selling 89,127 shares during the period. BNP Paribas’ holdings in Colgate-Palmolive were worth $267,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also modified their holdings of the stock. Vanguard Group Inc. grew its holdings in shares of Colgate-Palmolive by 1.2% during the fourth quarter. Vanguard Group Inc. now owns 83,947,987 shares of the company’s stock worth $6,633,570,000 after buying an additional 1,026,985 shares in the last quarter. Geode Capital Management LLC lifted its stake in shares of Colgate-Palmolive by 1.4% in the 4th quarter. Geode Capital Management LLC now owns 22,103,901 shares of the company’s stock valued at $1,754,657,000 after purchasing an additional 304,426 shares during the last quarter. Norges Bank purchased a new stake in Colgate-Palmolive in the 4th quarter valued at about $861,670,000. Invesco Ltd. lifted its position in Colgate-Palmolive by 13.1% in the third quarter. Invesco Ltd. now owns 8,467,993 shares of the company’s stock valued at $676,931,000 after buying an additional 978,943 shares during the last quarter. Finally, Diamond Hill Capital Management Inc. lifted 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. Hedge funds and other institutional investors own 80.41% of the company’s stock.

Colgate-Palmolive Stock Down 0.2%

Shares of NYSE CL opened at $88.28 on Wednesday. The business has a 50-day moving average of $86.35 and a two-hundred day moving average of $85.75. The company has a market capitalization of $70.64 billion, a price-to-earnings ratio of 34.35, a price-to-earnings-growth ratio of 4.59 and a beta of 0.33. Colgate-Palmolive Company has a 1 year low of $74.54 and a 1 year high of $99.33. The company has a debt-to-equity ratio of 16.33, a current ratio of 1.02 and a quick ratio of 0.67.

Colgate-Palmolive (NYSE:CL) last announced its quarterly earnings results on Friday, May 1st. The company reported $0.97 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.94 by $0.03. Colgate-Palmolive had a return on equity of 386.76% and a net margin of 10.04%.The firm had revenue of $5.32 billion during the quarter, compared to the consensus estimate of $5.22 billion. During the same period in the prior year, the company posted $0.91 earnings per share. The firm’s quarterly revenue was up 8.4% compared to the same quarter last year. On average, analysts forecast that Colgate-Palmolive Company will post 3.82 earnings per share for the current fiscal year.

Colgate-Palmolive Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, May 15th. Investors of record on Monday, April 20th were issued a dividend of $0.53 per share. This is an increase 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%. The ex-dividend date of this dividend was Monday, April 20th. Colgate-Palmolive’s dividend payout ratio is 82.49%.

Wall Street Analyst Weigh In

Several research firms recently issued reports on CL. Bank of America cut their price objective on Colgate-Palmolive from $105.00 to $102.00 and set a “buy” rating on the stock in a report on Friday, April 10th. Piper Sandler dropped their price objective on shares of Colgate-Palmolive from $96.00 to $92.00 and set an “overweight” rating for the company in a report on Wednesday, April 8th. Barclays upped their target price on shares of Colgate-Palmolive from $79.00 to $80.00 and gave the stock an “equal weight” rating in a research note on Tuesday, May 5th. The Goldman Sachs Group restated a “buy” rating on shares of Colgate-Palmolive in a research note on Friday, May 1st. Finally, Royal Bank Of Canada reaffirmed an “outperform” rating and issued a $102.00 price target on shares of Colgate-Palmolive in a research report on Monday, May 4th. Twelve equities research analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $95.88.

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.