Bank of New York Mellon Corp lifted its position in Colgate-Palmolive Company (NYSE:CL - Free Report) by 8.1% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 13,532,417 shares of the company's stock after acquiring an additional 1,010,872 shares during the period. Bank of New York Mellon Corp owned 1.70% of Colgate-Palmolive worth $1,240,652,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in CL. Norges Bank acquired a new stake in shares of Colgate-Palmolive in the 4th quarter worth $861,670,000. Northwestern Mutual Wealth Management Co. grew its holdings in shares of Colgate-Palmolive by 8,040.1% in the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 4,655,987 shares of the company's stock valued at $380,666,000 after purchasing an additional 4,598,789 shares during the period. Balyasny Asset Management L.P. acquired a new stake in Colgate-Palmolive during the fourth quarter worth about $236,682,000. Deutsche Bank AG raised its stake in Colgate-Palmolive by 33.9% during the fourth quarter. Deutsche Bank AG now owns 10,845,857 shares of the company's stock worth $857,040,000 after purchasing an additional 2,746,920 shares during the period. Finally, Diamant Asset Management Inc. boosted its holdings in Colgate-Palmolive by 8,123.0% in the 1st quarter. Diamant Asset Management Inc. now owns 2,359,166 shares of the company's stock valued at $201,072,000 after purchasing an additional 2,330,476 shares during the last quarter. Hedge funds and other institutional investors own 80.41% of the company's stock.
Insider Buying and Selling at Colgate-Palmolive
In other news, Director John T. Cahill sold 4,170 shares of Colgate-Palmolive stock in a transaction on Thursday, August 6th. The shares were sold at an average price of $93.37, for a total value of $389,352.90. Following the transaction, the director directly owned 28,373 shares of the company's stock, valued at $2,649,187.01. The trade was a 12.81% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO Noel R. Wallace sold 161,021 shares of Colgate-Palmolive stock in a transaction on Tuesday, August 4th. The shares were sold at an average price of $91.92, for a total transaction of $14,801,050.32. Following the completion of the transaction, the chief executive officer owned 362,231 shares in the company, valued at approximately $33,296,273.52. This represents a 30.77% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Corporate insiders own 0.43% of the company's stock.
Analysts Set New Price Targets
CL has been the topic of a number of research analyst reports. Royal Bank Of Canada lifted their target price on Colgate-Palmolive from $102.00 to $104.00 and gave the company an "outperform" rating in a research report on Monday, August 3rd. Piper Sandler raised their price objective on Colgate-Palmolive from $92.00 to $96.00 and gave the stock an "overweight" rating in a research report on Thursday, July 9th. Morgan Stanley reaffirmed an "overweight" rating and issued a $104.00 target price on shares of Colgate-Palmolive in a research report on Monday, August 3rd. Jefferies Financial Group reiterated a "hold" rating on shares of Colgate-Palmolive in a research report on Monday, August 3rd. Finally, Citigroup increased their price objective on shares of Colgate-Palmolive from $105.00 to $110.00 and gave the stock a "buy" rating in a research report on Tuesday, July 14th. Twelve research analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the stock. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and an average target price of $99.00.
View Our Latest Analysis on Colgate-Palmolive
Colgate-Palmolive Price Performance
Shares of NYSE CL opened at $89.68 on Friday. The stock's 50-day moving average is $91.86 and its two-hundred day moving average is $90.13. The company has a debt-to-equity ratio of 13.82, a current ratio of 1.03 and a quick ratio of 0.67. The company has a market cap of $71.49 billion, a price-to-earnings ratio of 35.59, a price-to-earnings-growth ratio of 4.25 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.
Colgate-Palmolive (NYSE:CL - Get Free Report) last issued its quarterly earnings results on Friday, July 31st. The company reported $0.99 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.95 by $0.04. The company had revenue of $5.36 billion during the quarter, compared to the consensus estimate of $5.36 billion. Colgate-Palmolive had a net margin of 9.68% and a return on equity of 464.63%. The firm's quarterly revenue was up 4.9% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.92 earnings per share. Analysts forecast that Colgate-Palmolive Company will post 3.86 EPS for the current fiscal year.
Colgate-Palmolive Announces Dividend
The business also recently disclosed a quarterly dividend, which was paid on Friday, August 14th. Stockholders of record on Monday, July 20th were given a dividend of $0.53 per share. This represents a $2.12 annualized dividend and a dividend yield of 2.4%. The ex-dividend date was Monday, July 20th. Colgate-Palmolive's payout ratio is currently 84.13%.
Colgate-Palmolive Company Profile
(
Free Report)
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.
Further Reading
Want to see what other hedge funds are holding CL? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Colgate-Palmolive Company (NYSE:CL - Free Report).
This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.
Continue following MarketBeat
Add MarketBeat as your preferred source on Google to see our latest stories in your feed.
Before you consider Colgate-Palmolive, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Colgate-Palmolive wasn't on the list.
While Colgate-Palmolive currently has a Moderate Buy rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
Nuclear energy is entering a new growth cycle as rising power demand, expanding data centers, and renewed policy support bring the sector back into focus. After strong gains in recent years, the most impactful phase of nuclear investment may still be ahead.
This report highlights seven nuclear energy stocks positioned across the value chain—combining near-term revenue with long-term upside as next-generation technologies scale. Click the link below to unlock the full list.
Get This Free Report
