BI Asset Management Fondsmaeglerselskab A S Sells 78,137 Shares of Colgate-Palmolive Company $CL

BI Asset Management Fondsmaeglerselskab A S cut its holdings in shares of Colgate-Palmolive Company (NYSE:CL) by 15.6% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 421,484 shares of the company’s stock after selling 78,137 shares during the period. BI Asset Management Fondsmaeglerselskab A S’s holdings in Colgate-Palmolive were worth $33,306,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Brighton Jones LLC lifted its holdings in shares of Colgate-Palmolive by 4.4% in the fourth quarter. Brighton Jones LLC now owns 10,578 shares of the company’s stock valued at $962,000 after purchasing an additional 450 shares in the last quarter. Woodline Partners LP lifted its holdings in shares of Colgate-Palmolive by 76.3% in the first quarter. Woodline Partners LP now owns 46,361 shares of the company’s stock valued at $4,344,000 after purchasing an additional 20,062 shares in the last quarter. Schnieders Capital Management LLC. lifted its holdings in shares of Colgate-Palmolive by 2.0% in the second quarter. Schnieders Capital Management LLC. now owns 12,494 shares of the company’s stock valued at $1,136,000 after purchasing an additional 245 shares in the last quarter. Nebula Research & Development LLC lifted its holdings in shares of Colgate-Palmolive by 165.5% in the second quarter. Nebula Research & Development LLC now owns 10,326 shares of the company’s stock valued at $939,000 after purchasing an additional 6,437 shares in the last quarter. Finally, Sei Investments Co. lifted its holdings in shares of Colgate-Palmolive by 21.7% in the second quarter. Sei Investments Co. now owns 657,093 shares of the company’s stock valued at $59,732,000 after purchasing an additional 116,968 shares in the last quarter. 80.41% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of analysts have recently commented on CL shares. Deutsche Bank Aktiengesellschaft restated a “buy” rating and issued a $99.00 price target on shares of Colgate-Palmolive in a report on Monday, May 4th. Royal Bank Of Canada reaffirmed an “outperform” rating and issued a $102.00 target price on shares of Colgate-Palmolive in a research report on Monday, May 4th. Piper Sandler lowered their target price on Colgate-Palmolive from $96.00 to $92.00 and set an “overweight” rating on the stock in a research report on Wednesday, April 8th. Morgan Stanley reaffirmed an “overweight” rating on shares of Colgate-Palmolive in a research report on Monday, May 4th. Finally, Bank of America lowered their target price on Colgate-Palmolive from $105.00 to $102.00 and set a “buy” rating on the stock in a research report on Friday, April 10th. Twelve investment analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the stock. According to MarketBeat.com, Colgate-Palmolive has an average rating of “Moderate Buy” and a consensus target price of $95.88.

Colgate-Palmolive Stock Up 4.1%

NYSE CL opened at $88.61 on Friday. The business has a fifty day moving average price of $86.49 and a two-hundred day moving average price of $85.93. 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 Company has a fifty-two week low of $74.54 and a fifty-two week high of $99.33. The stock has a market capitalization of $70.91 billion, a PE ratio of 34.48, a PEG ratio of 4.42 and a beta of 0.33.

Colgate-Palmolive (NYSE:CL) last released its earnings results on Friday, May 1st. The company reported $0.97 earnings per share for the quarter, topping the consensus estimate of $0.94 by $0.03. The firm had revenue of $5.32 billion during the quarter, compared to analysts’ expectations of $5.22 billion. Colgate-Palmolive had a return on equity of 386.76% and a net margin of 10.04%.The company’s quarterly revenue was up 8.4% on a year-over-year basis. During the same period in the prior year, the company earned $0.91 earnings per share. Equities analysts expect 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. Stockholders of record on Monday, April 20th were issued a dividend of $0.53 per share. This represents a $2.12 annualized dividend and a dividend yield of 2.4%. This is a boost from Colgate-Palmolive’s previous quarterly dividend of $0.52. The ex-dividend date was Monday, April 20th. Colgate-Palmolive’s dividend payout ratio (DPR) is currently 82.49%.

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.