Colgate-Palmolive Company (NYSE:CL) Shares Sold by Sumitomo Mitsui Trust Group Inc.

Sumitomo Mitsui Trust Group Inc. lessened its stake in Colgate-Palmolive Company (NYSE:CL - Free Report) by 1.7% in the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 1,993,179 shares of the company's stock after selling 35,421 shares during the quarter. Sumitomo Mitsui Trust Group Inc. owned about 0.25% of Colgate-Palmolive worth $186,761,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently made changes to their positions in CL. Norges Bank acquired a new stake in Colgate-Palmolive during the fourth quarter worth $912,375,000. Diamond Hill Capital Management Inc. acquired a new stake in Colgate-Palmolive during the fourth quarter worth $348,718,000. AMF Tjanstepension AB increased its stake in Colgate-Palmolive by 1,088.8% during the fourth quarter. AMF Tjanstepension AB now owns 2,569,394 shares of the company's stock worth $233,584,000 after acquiring an additional 2,353,268 shares during the last quarter. Deutsche Bank AG increased its stake in Colgate-Palmolive by 35.6% during the fourth quarter. Deutsche Bank AG now owns 6,922,994 shares of the company's stock worth $629,369,000 after acquiring an additional 1,816,865 shares during the last quarter. Finally, Raymond James Financial Inc. acquired a new stake in Colgate-Palmolive during the fourth quarter worth $132,405,000. Institutional investors and hedge funds own 80.41% of the company's stock.

Wall Street Analysts Forecast Growth

CL has been the subject of several recent analyst reports. Piper Sandler cut their target price on Colgate-Palmolive from $108.00 to $107.00 and set an "overweight" rating for the company in a research note on Monday, March 31st. Wall Street Zen lowered Colgate-Palmolive from a "buy" rating to a "hold" rating in a research report on Wednesday, May 7th. Citigroup raised their price target on Colgate-Palmolive from $103.00 to $108.00 and gave the stock a "buy" rating in a research report on Monday, April 28th. UBS Group raised their price target on Colgate-Palmolive from $105.00 to $109.00 and gave the stock a "buy" rating in a research report on Thursday, April 17th. Finally, Wells Fargo & Company raised their price target on Colgate-Palmolive from $83.00 to $88.00 and gave the stock an "underweight" rating in a research report on Wednesday, April 2nd. One research analyst has rated the stock with a sell rating, ten have issued a hold rating and nine have given a buy rating to the company's stock. According to data from MarketBeat.com, the company has a consensus rating of "Hold" and a consensus price target of $101.69.

Colgate-Palmolive Trading Up 1.2%

NYSE:CL opened at $88.80 on Friday. The firm has a market cap of $71.97 billion, a PE ratio of 25.09, a price-to-earnings-growth ratio of 4.71 and a beta of 0.38. The stock has a fifty day moving average price of $90.86 and a 200 day moving average price of $90.59. Colgate-Palmolive Company has a 12-month low of $85.32 and a 12-month high of $109.30. The company has a current ratio of 0.85, a quick ratio of 0.54 and a debt-to-equity ratio of 8.96.

Colgate-Palmolive (NYSE:CL - Get Free Report) last released its earnings results on Friday, April 25th. The company reported $0.91 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.86 by $0.05. The firm had revenue of $4.91 billion during the quarter, compared to analyst estimates of $4.92 billion. Colgate-Palmolive had a return on equity of 461.04% and a net margin of 14.52%. Colgate-Palmolive's revenue was down 3.0% compared to the same quarter last year. During the same period last year, the business posted $0.86 earnings per share. Sell-side analysts anticipate that Colgate-Palmolive Company will post 3.75 earnings per share for the current fiscal year.

Colgate-Palmolive Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, August 15th. Investors of record on Friday, July 18th will be issued a $0.52 dividend. The ex-dividend date of this dividend is Friday, July 18th. This represents a $2.08 dividend on an annualized basis and a yield of 2.34%. Colgate-Palmolive's dividend payout ratio (DPR) is presently 58.76%.

Colgate-Palmolive announced that its Board of Directors has initiated a share buyback program on Thursday, March 20th that allows the company to buyback $5.00 billion in shares. This buyback authorization allows the company to purchase up to 6.8% of its shares through open market purchases. Shares buyback programs are often a sign that the company's board of directors believes its shares are undervalued.

Colgate-Palmolive Company Profile

Colgate-Palmolive Company, together with its subsidiaries, manufactures and sells consumer products in the United States and internationally. It operates through two segments: Oral, Personal and Home Care; and Pet Nutrition. The Oral, Personal and Home Care segment offers toothpaste, toothbrushes, mouthwash, bar and liquid hand soaps, shower gels, shampoos, conditioners, deodorants and antiperspirants, skin health products, dishwashing detergents, fabric conditioners, household cleaners, and other related items.

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