Truist Financial Corp Sells 20,560 Shares of Colgate-Palmolive Company $CL

Truist Financial Corp reduced its holdings in shares of Colgate-Palmolive Company (NYSE:CL - Free Report) by 9.4% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 197,916 shares of the company's stock after selling 20,560 shares during the period. Truist Financial Corp's holdings in Colgate-Palmolive were worth $15,639,000 at the end of the most recent reporting period.

Several other hedge funds have also bought and sold shares of CL. Sun Financial Inc purchased a new stake in shares of Colgate-Palmolive in the 4th quarter worth approximately $365,000. Advisors Preferred LLC raised its stake in Colgate-Palmolive by 16.4% during the fourth quarter. Advisors Preferred LLC now owns 3,419 shares of the company's stock valued at $266,000 after buying an additional 482 shares during the last quarter. Reynders McVeigh Capital Management LLC boosted its holdings in Colgate-Palmolive by 8.5% in the fourth quarter. Reynders McVeigh Capital Management LLC now owns 9,293 shares of the company's stock worth $734,000 after acquiring an additional 729 shares in the last quarter. PKO Investment Management Joint Stock Co bought a new stake in Colgate-Palmolive in the fourth quarter worth $1,797,000. Finally, Legacy Edge Advisors LLC purchased a new stake in shares of Colgate-Palmolive in the fourth quarter worth $208,000. Institutional investors own 80.41% of the company's stock.

Colgate-Palmolive Price Performance

NYSE CL opened at $87.39 on Friday. The company has a 50-day moving average price of $87.38 and a 200-day moving average price of $84.34. Colgate-Palmolive Company has a 52 week low of $74.54 and a 52 week high of $99.33. The company has a quick ratio of 0.29, a current ratio of 1.02 and a debt-to-equity ratio of 16.33. The firm has a market capitalization of $70.11 billion, a P/E ratio of 34.00, a PEG ratio of 4.57 and a beta of 0.31.

Colgate-Palmolive (NYSE:CL - Get Free Report) last announced its earnings results on Friday, May 1st. The company reported $0.97 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.94 by $0.03. Colgate-Palmolive had a net margin of 10.04% and a return on equity of 386.76%. The company had revenue of $5.32 billion during the quarter, compared to analyst estimates of $5.22 billion. During the same period in the previous year, the business posted $0.91 earnings per share. The firm's quarterly revenue was up 8.4% compared to the same quarter last year. Equities research analysts anticipate that Colgate-Palmolive Company will post 3.83 earnings per share for the current year.

Colgate-Palmolive Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, May 15th. Stockholders of record on Monday, April 20th will be paid a $0.53 dividend. This represents a $2.12 annualized dividend and a dividend yield of 2.4%. This is an increase from Colgate-Palmolive's previous quarterly dividend of $0.52. The ex-dividend date of this dividend is Monday, April 20th. Colgate-Palmolive's dividend payout ratio is 82.49%.

Analyst Ratings Changes

CL has been the subject of several recent analyst reports. Rothschild & Co Redburn set a $100.00 price target on Colgate-Palmolive and gave the stock a "buy" rating in a research report on Tuesday, April 21st. Evercore increased their price objective on Colgate-Palmolive from $94.00 to $100.00 and gave the company an "outperform" rating in a research report on Monday, February 2nd. Weiss Ratings raised Colgate-Palmolive from a "hold (c)" rating to a "hold (c+)" rating in a research report on Monday. Wells Fargo & Company reduced their price target on shares of Colgate-Palmolive from $100.00 to $92.00 and set an "equal weight" rating for the company in a research note on Wednesday, April 8th. Finally, Morgan Stanley restated an "overweight" rating on shares of Colgate-Palmolive in a research report on Monday. Twelve equities research analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and an average target price of $95.88.

Insider Buying and Selling

In other news, insider John Hazlin sold 20,989 shares of the stock in a transaction on Tuesday, February 10th. The shares were sold at an average price of $94.25, for a total value of $1,978,213.25. Following the completion of the sale, the insider directly owned 17,645 shares of the company's stock, valued at $1,663,041.25. This represents a 54.33% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, COO Panagiotis Tsourapas sold 15,000 shares of the firm's stock in a transaction on Thursday, February 12th. The shares were sold at an average price of $97.81, for a total transaction of $1,467,150.00. Following the sale, the chief operating officer owned 10,415 shares in the company, valued at $1,018,691.15. The trade was a 59.02% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last 90 days, insiders have sold 70,989 shares of company stock worth $6,756,713. 0.43% of the stock is owned by company insiders.

About Colgate-Palmolive

Colgate-Palmolive Company is a global consumer products company with a long history in household and personal care categories. The business traces its roots to the early 19th century and has evolved into a multinational manufacturer and marketer of everyday consumer goods focused on health, hygiene and home care.

The company's core activities center on oral care, personal care, home care and pet nutrition. Its product portfolio includes toothpaste, toothbrushes and mouthwash in oral care; soaps, body washes and deodorants in personal care; dishwashing liquids, surface cleaners and other household products in home care; and scientifically formulated pet foods under its pet nutrition business.

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