KBC Group NV Sells 13,582 Shares of Colgate-Palmolive Company (NYSE:CL)

KBC Group NV trimmed its position in shares of Colgate-Palmolive Company (NYSE:CL - Free Report) by 3.5% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 378,186 shares of the company's stock after selling 13,582 shares during the quarter. KBC Group NV's holdings in Colgate-Palmolive were worth $35,436,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also recently added to or reduced their stakes in the company. Westend Capital Management LLC grew its stake in shares of Colgate-Palmolive by 111.1% during the first quarter. Westend Capital Management LLC now owns 266 shares of the company's stock valued at $25,000 after purchasing an additional 140 shares during the last quarter. Confluence Wealth Services Inc. bought a new stake in shares of Colgate-Palmolive during the first quarter valued at approximately $535,000. 3Chopt Investment Partners LLC bought a new stake in shares of Colgate-Palmolive during the first quarter valued at approximately $395,000. Mirae Asset Global Investments Co. Ltd. grew its stake in shares of Colgate-Palmolive by 9.0% during the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 171,983 shares of the company's stock valued at $15,963,000 after purchasing an additional 14,172 shares during the last quarter. Finally, Money Concepts Capital Corp grew its stake in shares of Colgate-Palmolive by 8.5% during the first quarter. Money Concepts Capital Corp now owns 41,568 shares of the company's stock valued at $3,895,000 after purchasing an additional 3,239 shares during the last quarter. 80.41% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

CL has been the topic of several research analyst reports. Piper Sandler decreased their price target on shares of Colgate-Palmolive from $108.00 to $107.00 and set an "overweight" rating on the stock in a research note on Monday, March 31st. UBS Group increased their price target on shares of Colgate-Palmolive from $105.00 to $109.00 and gave the company a "buy" rating in a research note on Thursday, April 17th. Barclays cut their price objective on shares of Colgate-Palmolive from $89.00 to $86.00 and set an "equal weight" rating on the stock in a report on Friday, April 11th. Wall Street Zen lowered shares of Colgate-Palmolive from a "buy" rating to a "hold" rating in a report on Wednesday, May 7th. Finally, JPMorgan Chase & Co. increased their price objective on shares of Colgate-Palmolive from $95.00 to $103.00 and gave the company an "overweight" rating in a report on Monday, April 28th. One investment analyst has rated the stock with a sell rating, ten have given a hold rating and nine have given a buy rating to the stock. According to data from MarketBeat.com, Colgate-Palmolive currently has a consensus rating of "Hold" and a consensus target price of $101.69.

Colgate-Palmolive Stock Up 1.3%

Shares of NYSE:CL traded up $1.20 during midday trading on Tuesday, reaching $92.10. 6,022,842 shares of the company were exchanged, compared to its average volume of 4,795,325. Colgate-Palmolive Company has a fifty-two week low of $85.32 and a fifty-two week high of $109.30. The company has a quick ratio of 0.54, a current ratio of 0.85 and a debt-to-equity ratio of 8.96. The stock has a fifty day simple moving average of $90.78 and a two-hundred day simple moving average of $90.55. The firm has a market cap of $74.64 billion, a PE ratio of 26.02, a P/E/G ratio of 4.83 and a beta of 0.37.

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

Colgate-Palmolive declared that its board has authorized a share repurchase plan on Thursday, March 20th that allows the company to repurchase $5.00 billion in shares. This repurchase authorization allows the company to reacquire up to 6.8% of its shares through open market purchases. Shares repurchase plans are usually an indication that the company's management believes its shares are undervalued.

Colgate-Palmolive Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, August 15th. Investors of record on Friday, July 18th will be given a $0.52 dividend. This represents a $2.08 dividend on an annualized basis and a yield of 2.26%. The ex-dividend date is Friday, July 18th. Colgate-Palmolive's dividend payout ratio (DPR) is currently 58.76%.

Colgate-Palmolive 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.