Colgate-Palmolive Company (NYSE:CL) Shares Sold by Nisa Investment Advisors LLC

Nisa Investment Advisors LLC cut its position in shares of Colgate-Palmolive Company (NYSE:CL - Free Report) by 5.4% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 221,051 shares of the company's stock after selling 12,559 shares during the period. Nisa Investment Advisors LLC's holdings in Colgate-Palmolive were worth $20,712,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. Norges Bank purchased a new position in shares of Colgate-Palmolive in the 4th quarter worth approximately $912,375,000. Diamond Hill Capital Management Inc. bought a new stake in Colgate-Palmolive during the 4th quarter valued at $348,718,000. Deutsche Bank AG raised its position in Colgate-Palmolive by 35.6% during the 4th quarter. Deutsche Bank AG now owns 6,922,994 shares of the company's stock valued at $629,369,000 after purchasing an additional 1,816,865 shares in the last quarter. Castlekeep Investment Advisors LLC bought a new stake in Colgate-Palmolive during the 4th quarter valued at $111,738,000. Finally, Renaissance Technologies LLC raised its position 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 purchasing an additional 1,158,060 shares in the last quarter. Hedge funds and other institutional investors own 80.41% of the company's stock.

Analyst Upgrades and Downgrades

CL has been the subject of a number of research analyst reports. Citigroup lifted their target price on Colgate-Palmolive from $103.00 to $108.00 and gave the company a "buy" rating in a research report on Monday, April 28th. Wells Fargo & Company boosted their price target on Colgate-Palmolive from $83.00 to $88.00 and gave the stock an "underweight" rating in a research report on Wednesday, April 2nd. Piper Sandler reduced their price target on Colgate-Palmolive from $108.00 to $107.00 and set an "overweight" rating for the company in a research report on Monday, March 31st. UBS Group boosted their price target on Colgate-Palmolive from $105.00 to $109.00 and gave the stock a "buy" rating in a research report on Thursday, April 17th. Finally, Wall Street Zen lowered Colgate-Palmolive from a "buy" rating to a "hold" rating in a research report on Wednesday, May 7th. One research analyst has rated the stock with a sell rating, ten have issued a hold rating and eight have assigned a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of "Hold" and a consensus price target of $101.13.

Colgate-Palmolive Stock Performance

Colgate-Palmolive stock traded down $0.98 during trading hours on Friday, hitting $89.64. 2,066,767 shares of the stock traded hands, compared to its average volume of 5,328,740. The company has a debt-to-equity ratio of 8.96, a current ratio of 0.85 and a quick ratio of 0.54. The firm's 50 day moving average price is $90.64 and its 200-day moving average price is $90.54. The stock has a market capitalization of $72.65 billion, a price-to-earnings ratio of 25.32, a P/E/G ratio of 4.85 and a beta of 0.37. Colgate-Palmolive Company has a 1 year low of $85.32 and a 1 year high of $109.30.

Colgate-Palmolive (NYSE:CL - Get Free Report) last posted its quarterly earnings results on Friday, April 25th. The company reported $0.91 earnings per share 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 the consensus estimate of $4.92 billion. Colgate-Palmolive had a return on equity of 461.04% and a net margin of 14.52%. The company's quarterly revenue was down 3.0% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.86 EPS. As a group, equities analysts expect that Colgate-Palmolive Company will post 3.75 EPS for the current fiscal year.

Colgate-Palmolive Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, August 15th. Stockholders of record on Friday, July 18th will be issued a $0.52 dividend. The ex-dividend date is Friday, July 18th. This represents a $2.08 annualized dividend and a dividend yield of 2.32%. Colgate-Palmolive's dividend payout ratio (DPR) is presently 58.76%.

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

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.