Colgate-Palmolive Company (NYSE:CL) Shares Sold by Lbp Am Sa

LBP AM SA reduced its stake in Colgate-Palmolive Company (NYSE:CL - Free Report) by 3.5% during the first quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 233,337 shares of the company's stock after selling 8,491 shares during the period. LBP AM SA's holdings in Colgate-Palmolive were worth $21,864,000 as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in CL. Vanguard Group Inc. boosted its holdings in shares of Colgate-Palmolive by 0.7% in the 4th quarter. Vanguard Group Inc. now owns 81,303,059 shares of the company's stock worth $7,391,261,000 after purchasing an additional 588,230 shares during the period. Geode Capital Management LLC boosted its holdings in shares of Colgate-Palmolive by 1.6% in the fourth quarter. Geode Capital Management LLC now owns 20,518,014 shares of the company's stock valued at $1,868,723,000 after purchasing an additional 324,683 shares during the period. Norges Bank bought a new stake in Colgate-Palmolive during the 4th quarter valued at $912,375,000. Northern Trust Corp lifted its stake in Colgate-Palmolive by 11.7% in the fourth quarter. Northern Trust Corp now owns 9,497,819 shares of the company's stock worth $863,447,000 after acquiring an additional 993,328 shares during the period. Finally, Deutsche Bank AG lifted its position in shares of Colgate-Palmolive by 35.6% in the 4th quarter. Deutsche Bank AG now owns 6,922,994 shares of the company's stock worth $629,369,000 after purchasing an additional 1,816,865 shares during the period. Hedge funds and other institutional investors own 80.41% of the company's stock.

Colgate-Palmolive Price Performance

Shares of CL stock traded up $0.02 during mid-day trading on Thursday, hitting $91.60. 1,525,264 shares of the stock were exchanged, compared to its average volume of 5,330,443. The company has a market cap of $74.23 billion, a PE ratio of 25.87, a price-to-earnings-growth ratio of 4.89 and a beta of 0.37. The firm has a fifty day moving average of $90.65 and a 200 day moving average of $90.55. The company has a quick ratio of 0.54, a current ratio of 0.85 and a debt-to-equity ratio of 8.96. Colgate-Palmolive Company has a 52-week low of $85.32 and a 52-week high of $109.30.

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

Colgate-Palmolive Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, August 15th. Stockholders of record on Friday, July 18th will be issued a dividend of $0.52 per share. This represents a $2.08 dividend on an annualized basis and a dividend yield of 2.27%. The ex-dividend date of this dividend is Friday, July 18th. Colgate-Palmolive's payout ratio is 58.76%.

Colgate-Palmolive announced that its board has initiated a share repurchase plan on Thursday, March 20th that authorizes the company to repurchase $5.00 billion in shares. This repurchase authorization authorizes the company to purchase up to 6.8% of its stock through open market purchases. Stock repurchase plans are typically a sign that the company's board of directors believes its shares are undervalued.

Analyst Upgrades and Downgrades

A number of research analysts have recently issued reports on CL shares. JPMorgan Chase & Co. lifted their price target on Colgate-Palmolive from $95.00 to $103.00 and gave the company an "overweight" rating in a report on Monday, April 28th. Wall Street Zen cut Colgate-Palmolive from a "buy" rating to a "hold" rating in a research report on Wednesday, May 7th. Piper Sandler cut their price objective on shares of Colgate-Palmolive from $108.00 to $107.00 and set an "overweight" rating on the stock in a report on Monday, March 31st. Wells Fargo & Company raised their price target on shares of Colgate-Palmolive from $83.00 to $88.00 and gave the stock an "underweight" rating in a report on Wednesday, April 2nd. Finally, UBS Group boosted their price target on Colgate-Palmolive from $105.00 to $109.00 and gave the company a "buy" rating in a research note on Thursday, April 17th. One analyst has rated the stock with a sell rating, ten have assigned a hold rating and nine have issued a buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of "Hold" and an average target price of $101.69.

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.