New York State Teachers Retirement System Sells 37,129 Shares of Colgate-Palmolive Company (NYSE:CL)

New York State Teachers Retirement System lessened its position in shares of Colgate-Palmolive Company (NYSE:CL - Free Report) by 4.6% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 773,540 shares of the company's stock after selling 37,129 shares during the period. New York State Teachers Retirement System owned approximately 0.10% of Colgate-Palmolive worth $72,481,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds also recently made changes to their positions in the company. Vanguard Group Inc. lifted its holdings in shares of Colgate-Palmolive by 0.7% during the 4th quarter. Vanguard Group Inc. now owns 81,303,059 shares of the company's stock worth $7,391,261,000 after acquiring an additional 588,230 shares during the period. Geode Capital Management LLC lifted its holdings in shares of Colgate-Palmolive by 1.6% during the 4th quarter. Geode Capital Management LLC now owns 20,518,014 shares of the company's stock worth $1,868,723,000 after acquiring an additional 324,683 shares during the period. Norges Bank bought a new stake in shares of Colgate-Palmolive during the 4th quarter worth approximately $912,375,000. Northern Trust Corp lifted its holdings in shares of Colgate-Palmolive by 11.7% during the 4th 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, Amundi lifted its stake in Colgate-Palmolive by 12.8% in the 4th quarter. Amundi now owns 9,200,144 shares of the company's stock valued at $806,015,000 after purchasing an additional 1,040,604 shares during the last quarter. Institutional investors own 80.41% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities analysts recently commented on the stock. Piper Sandler dropped their price objective on shares of Colgate-Palmolive from $108.00 to $107.00 and set an "overweight" rating for the company in a research note on Monday, March 31st. Wells Fargo & Company increased 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. 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 research note on Monday, April 28th. Wall Street Zen downgraded shares of Colgate-Palmolive from a "buy" rating to a "hold" rating in a research note on Wednesday, May 7th. Finally, UBS Group increased their price objective 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. One research analyst has rated the stock with a sell rating, ten have given a hold rating and nine have given a buy rating to the company. According to MarketBeat.com, the company has a consensus rating of "Hold" and an average price target of $101.69.

Colgate-Palmolive Trading Up 1.2%

CL opened at $88.80 on Monday. Colgate-Palmolive Company has a twelve month low of $85.32 and a twelve month 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 company has a fifty day moving average of $90.86 and a 200-day moving average of $90.56. The stock 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.

Colgate-Palmolive (NYSE:CL - Get Free Report) last posted its quarterly earnings results on Friday, April 25th. The company reported $0.91 EPS for the quarter, topping analysts' consensus estimates of $0.86 by $0.05. The business had revenue of $4.91 billion during the quarter, compared to analysts' expectations of $4.92 billion. Colgate-Palmolive had a net margin of 14.52% and a return on equity of 461.04%. The business's quarterly revenue was down 3.0% on a year-over-year basis. During the same period last year, the company posted $0.86 earnings per share. On average, sell-side analysts predict that Colgate-Palmolive Company will post 3.75 EPS 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 outstanding shares. This repurchase authorization allows the company to repurchase up to 6.8% of its shares through open market purchases. Shares repurchase plans are typically a sign that the company's management believes its shares are undervalued.

Colgate-Palmolive Dividend Announcement

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

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