Colgate-Palmolive Company $CL Shares Sold by Corebridge Financial Inc.

Key Points

• Corebridge Financial Inc. reduced its stake in Colgate-Palmolive Company by 4.0%, selling 7,742 shares, leaving them with 186,020 shares valued at approximately $17.43 million.
• Colgate-Palmolive reported an EPS of $0.92 for the last quarter, surpassing analysts' expectations by $0.03, and recorded revenue of $5.11 billion, which was also above estimates.
• The company declared a quarterly dividend of $0.52 per share, yielding 2.5%, with a payout ratio of 58.43%.

Corebridge Financial Inc. trimmed its position in Colgate-Palmolive Company (NYSE:CL - Free Report) by 4.0% during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 186,020 shares of the company's stock after selling 7,742 shares during the quarter. Corebridge Financial Inc.'s holdings in Colgate-Palmolive were worth $17,430,000 at the end of the most recent quarter.

Other large investors also recently modified their holdings of the company. Personal CFO Solutions LLC purchased a new position in shares of Colgate-Palmolive in the 1st quarter worth about $285,000. Vision Capital Management Inc. purchased a new position in shares of Colgate-Palmolive in the 1st quarter worth about $322,000. Autumn Glory Partners LLC raised its holdings in shares of Colgate-Palmolive by 67.4% in the 1st quarter. Autumn Glory Partners LLC now owns 8,905 shares of the company's stock worth $851,000 after purchasing an additional 3,586 shares during the period. Financial Gravity Asset Management Inc. purchased a new position in shares of Colgate-Palmolive in the 1st quarter worth about $2,166,000. Finally, Penserra Capital Management LLC raised its holdings in shares of Colgate-Palmolive by 398.6% in the 1st quarter. Penserra Capital Management LLC now owns 10,651 shares of the company's stock worth $997,000 after purchasing an additional 8,515 shares during the period. 80.41% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of equities analysts have recently commented on the company. Citigroup cut their price objective on Colgate-Palmolive from $108.00 to $105.00 and set a "buy" rating on the stock in a report on Monday, August 4th. Wells Fargo & Company lowered their target price on Colgate-Palmolive from $88.00 to $83.00 and set an "underweight" rating for the company in a research note on Monday, August 4th. Barclays increased their target price on Colgate-Palmolive from $86.00 to $87.00 and gave the company an "equal weight" rating in a research note on Tuesday, July 15th. Morgan Stanley lowered their target price on Colgate-Palmolive from $104.00 to $96.00 and set an "overweight" rating for the company in a research note on Monday, August 4th. Finally, Wall Street Zen lowered Colgate-Palmolive from a "buy" rating to a "hold" rating in a research note on Wednesday, May 7th. Seven research analysts have rated the stock with a Buy rating, four have issued a Hold rating and one has assigned a Sell rating to the company's stock. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average price target of $98.92.

Colgate-Palmolive Stock Performance

Shares of NYSE CL traded up $0.62 during mid-day trading on Friday, hitting $84.04. The company had a trading volume of 3,934,689 shares, compared to its average volume of 5,208,797. The stock has a market cap of $67.92 billion, a price-to-earnings ratio of 23.61, a PEG ratio of 4.39 and a beta of 0.35. Colgate-Palmolive Company has a 12 month low of $82.40 and a 12 month high of $109.30. The company has a debt-to-equity ratio of 6.79, a current ratio of 0.89 and a quick ratio of 0.57. The firm's 50 day simple moving average is $87.23 and its two-hundred day simple moving average is $89.85.

Colgate-Palmolive (NYSE:CL - Get Free Report) last announced its quarterly earnings results on Friday, August 1st. The company reported $0.92 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.89 by $0.03. The business had revenue of $5.11 billion for the quarter, compared to the consensus estimate of $5.03 billion. Colgate-Palmolive had a return on equity of 377.63% and a net margin of 14.55%.The business's revenue was up 1.0% on a year-over-year basis. During the same quarter last year, the business posted $0.91 EPS. As a group, equities research analysts forecast that Colgate-Palmolive Company will post 3.75 earnings per share for the current year.

Colgate-Palmolive Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, August 15th. Shareholders of record on Friday, July 18th were paid a dividend of $0.52 per share. The ex-dividend date of this dividend was Friday, July 18th. This represents a $2.08 annualized dividend and a yield of 2.5%. Colgate-Palmolive's payout ratio is presently 58.43%.

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.