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

LBP AM SA lowered its stake in Colgate-Palmolive Company (NYSE:CL - Free Report) by 3.5% during the first quarter, according to its most recent Form 13F filing with the SEC. The firm 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 filing with the SEC.

Other hedge funds also recently modified their holdings of the company. Norges Bank bought a new position in Colgate-Palmolive in the fourth quarter valued at about $912,375,000. Diamond Hill Capital Management Inc. acquired a new position in Colgate-Palmolive in the fourth quarter valued at approximately $348,718,000. Deutsche Bank AG raised its position in shares of 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 purchasing an additional 1,816,865 shares during the period. Castlekeep Investment Advisors LLC acquired a new position in shares of Colgate-Palmolive during the fourth quarter worth approximately $111,738,000. Finally, Renaissance Technologies LLC lifted its stake in Colgate-Palmolive by 70.2% during the 4th quarter. Renaissance Technologies LLC now owns 2,808,110 shares of the company's stock valued at $255,285,000 after acquiring an additional 1,158,060 shares in the last quarter. Institutional investors own 80.41% of the company's stock.

Colgate-Palmolive Trading Down 0.6%

Shares of Colgate-Palmolive stock traded down $0.56 during trading hours on Wednesday, reaching $91.58. 6,034,161 shares of the company's stock were exchanged, compared to its average volume of 4,834,180. The firm has a market capitalization of $74.22 billion, a price-to-earnings ratio of 25.87, a price-to-earnings-growth ratio of 4.96 and a beta of 0.37. 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 Company has a 52-week low of $85.32 and a 52-week high of $109.30. The company has a fifty day moving average of $90.66 and a 200-day moving average of $90.54.

Colgate-Palmolive (NYSE:CL - Get Free Report) last announced its quarterly 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 company 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%. Colgate-Palmolive's revenue for the quarter was down 3.0% on a year-over-year basis. During the same quarter last year, the business earned $0.86 EPS. Sell-side analysts forecast that Colgate-Palmolive Company will post 3.75 EPS for the current fiscal year.

Colgate-Palmolive announced that its Board of Directors has authorized a share repurchase plan on Thursday, March 20th that allows the company to buyback $5.00 billion in shares. This buyback authorization allows the company to buy up to 6.8% of its shares through open market purchases. Shares buyback plans are often an indication that the company's leadership believes its shares are undervalued.

Colgate-Palmolive Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, August 15th. Investors of record on Friday, July 18th will be paid a dividend of $0.52 per share. This represents a $2.08 annualized dividend and a yield of 2.27%. The ex-dividend date of this dividend is Friday, July 18th. Colgate-Palmolive's dividend payout ratio (DPR) is 58.76%.

Analysts Set New Price Targets

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

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.