Colgate-Palmolive Company (NYSE:CL) Shares Sold by OVERSEA CHINESE BANKING Corp Ltd

OVERSEA CHINESE BANKING Corp Ltd decreased its holdings in Colgate-Palmolive Company (NYSE:CL - Free Report) by 85.5% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 7,192 shares of the company's stock after selling 42,286 shares during the period. OVERSEA CHINESE BANKING Corp Ltd's holdings in Colgate-Palmolive were worth $674,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors have also modified their holdings of the company. Vanguard Group Inc. lifted its position in Colgate-Palmolive by 0.7% in the fourth quarter. Vanguard Group Inc. now owns 81,303,059 shares of the company's stock valued at $7,391,261,000 after acquiring an additional 588,230 shares during the last quarter. Geode Capital Management LLC lifted its position in 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 acquiring an additional 324,683 shares during the last quarter. Norges Bank purchased a new stake in Colgate-Palmolive in the fourth quarter valued at $912,375,000. Northern Trust Corp lifted its position in Colgate-Palmolive by 11.7% in the fourth quarter. Northern Trust Corp now owns 9,497,819 shares of the company's stock valued at $863,447,000 after acquiring an additional 993,328 shares during the last quarter. Finally, Deutsche Bank AG lifted its position in Colgate-Palmolive by 35.6% in the fourth quarter. Deutsche Bank AG now owns 6,922,994 shares of the company's stock valued at $629,369,000 after acquiring an additional 1,816,865 shares during the last quarter. 80.41% of the stock is owned by hedge funds and other institutional investors.

Colgate-Palmolive Trading Up 0.4%

Shares of CL traded up $0.34 on Friday, hitting $87.06. 1,571,241 shares of the stock traded hands, compared to its average volume of 5,273,769. 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 firm has a market capitalization of $70.55 billion, a P/E ratio of 24.59, a P/E/G ratio of 4.63 and a beta of 0.37. The stock's 50 day moving average is $90.40 and its two-hundred day moving average is $90.41. 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, topping analysts' consensus estimates of $0.86 by $0.05. The company had revenue of $4.91 billion for 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%. Colgate-Palmolive's revenue was down 3.0% on a year-over-year basis. During the same quarter last year, the firm posted $0.86 earnings per share. As a group, sell-side analysts predict that Colgate-Palmolive Company will post 3.75 earnings per share for the current year.

Colgate-Palmolive Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, August 15th. Shareholders of record on Friday, July 18th will be paid a dividend of $0.52 per share. This represents a $2.08 dividend on an annualized basis and a yield of 2.39%. The ex-dividend date of this dividend is Friday, July 18th. Colgate-Palmolive's dividend payout ratio is currently 58.76%.

Colgate-Palmolive declared that its board has authorized a share buyback program on Thursday, March 20th that authorizes the company to buyback $5.00 billion in outstanding shares. This buyback authorization authorizes the company to buy up to 6.8% of its shares through open market purchases. Shares buyback programs are typically an indication that the company's leadership believes its stock is undervalued.

Analysts Set New Price Targets

CL has been the topic of a number of recent research reports. UBS Group dropped their price objective on shares of Colgate-Palmolive from $109.00 to $106.00 and set a "buy" rating on the stock in a research note on Thursday. JPMorgan Chase & Co. lifted 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 lowered shares of Colgate-Palmolive from a "buy" rating to a "hold" rating in a research note on Wednesday, May 7th. Citigroup lifted their price objective on shares of Colgate-Palmolive from $103.00 to $108.00 and gave the company a "buy" rating in a research note on Monday, April 28th. Finally, Piper Sandler dropped their price objective 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. One equities research analyst has rated the stock with a sell rating, ten have given a hold rating and eight have issued a buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of "Hold" and an average target price of $101.00.

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.