Universal Beteiligungs und Servicegesellschaft mbH Sells 239,735 Shares of Colgate-Palmolive Company (NYSE:CL)

Universal Beteiligungs und Servicegesellschaft mbH lowered its position in shares of Colgate-Palmolive Company (NYSE:CL - Free Report) by 22.3% in the first quarter, according to its most recent disclosure with the SEC. The institutional investor owned 837,705 shares of the company's stock after selling 239,735 shares during the quarter. Universal Beteiligungs und Servicegesellschaft mbH owned about 0.10% of Colgate-Palmolive worth $78,493,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently modified their holdings of the company. Norges Bank acquired a new position in Colgate-Palmolive during the fourth quarter worth about $912,375,000. Deutsche Bank AG raised its stake in 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 acquiring an additional 1,816,865 shares in the last quarter. Castlekeep Investment Advisors LLC acquired a new position in Colgate-Palmolive during the fourth quarter worth about $111,738,000. Renaissance Technologies LLC raised its stake in Colgate-Palmolive by 70.2% during the fourth quarter. Renaissance Technologies LLC now owns 2,808,110 shares of the company's stock worth $255,285,000 after acquiring an additional 1,158,060 shares in the last quarter. Finally, GAMMA Investing LLC raised its stake in Colgate-Palmolive by 10,601.7% during the first quarter. GAMMA Investing LLC now owns 1,105,379 shares of the company's stock worth $103,574,000 after acquiring an additional 1,095,050 shares in the last quarter. Institutional investors and hedge funds own 80.41% of the company's stock.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on CL. Wall Street Zen cut Colgate-Palmolive from a "buy" rating to a "hold" rating in a report on Wednesday, May 7th. Piper Sandler reduced their price target on Colgate-Palmolive from $108.00 to $107.00 and set an "overweight" rating on the stock in a report on Monday, March 31st. UBS Group reduced their target price on Colgate-Palmolive from $109.00 to $106.00 and set a "buy" rating on the stock in a report on Thursday, July 17th. Barclays upped their target price on Colgate-Palmolive from $86.00 to $87.00 and gave the company an "equal weight" rating in a report on Tuesday, July 15th. Finally, Citigroup upped their target price on Colgate-Palmolive from $103.00 to $108.00 and gave the company a "buy" rating in a report on Monday, April 28th. One research analyst has rated the stock with a sell rating, ten have given a hold rating and seven have assigned a buy rating to the stock. According to data from MarketBeat, Colgate-Palmolive currently has an average rating of "Hold" and a consensus price target of $100.64.

Colgate-Palmolive Trading Down 0.3%

Shares of CL traded down $0.23 during mid-day trading on Thursday, hitting $88.56. 2,497,776 shares of the company's stock traded hands, compared to its average volume of 5,252,624. The company has a quick ratio of 0.54, a current ratio of 0.85 and a debt-to-equity ratio of 8.96. Colgate-Palmolive Company has a 1 year low of $85.32 and a 1 year high of $109.30. The firm has a market capitalization of $71.77 billion, a P/E ratio of 25.02, a PEG ratio of 4.68 and a beta of 0.37. The business's 50-day moving average price is $90.33 and its 200-day moving average price is $90.33.

Colgate-Palmolive (NYSE:CL - Get Free Report) last issued its quarterly earnings results on Friday, April 25th. The company reported $0.91 earnings per share for the quarter, topping the consensus estimate of $0.86 by $0.05. The company had revenue of $4.91 billion for the quarter, compared to analysts' expectations of $4.92 billion. Colgate-Palmolive had a return on equity of 461.04% and a net margin of 14.52%. The firm's revenue for the quarter was down 3.0% on a year-over-year basis. During the same period in the prior year, the firm earned $0.86 earnings per share. As a group, sell-side analysts forecast that Colgate-Palmolive Company will post 3.75 EPS for the current fiscal year.

Colgate-Palmolive Dividend Announcement

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 $0.52 dividend. The ex-dividend date is Friday, July 18th. This represents a $2.08 annualized dividend and a yield of 2.35%. Colgate-Palmolive's payout ratio is 58.76%.

About Colgate-Palmolive

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.