Truist Financial Corp Lowers Position in Colgate-Palmolive (NYSE:CL)

Truist Financial Corp cut its position in Colgate-Palmolive (NYSE:CL - Free Report) by 15.5% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 272,488 shares of the company's stock after selling 50,008 shares during the quarter. Truist Financial Corp's holdings in Colgate-Palmolive were worth $21,720,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in the company. Vest Financial LLC boosted its stake in shares of Colgate-Palmolive by 25.1% during the 4th quarter. Vest Financial LLC now owns 370,071 shares of the company's stock worth $29,498,000 after acquiring an additional 74,337 shares during the period. Central Bank & Trust Co. increased its holdings in shares of Colgate-Palmolive by 22.1% in the fourth quarter. Central Bank & Trust Co. now owns 1,383 shares of the company's stock valued at $110,000 after purchasing an additional 250 shares during the last quarter. Dynamic Advisor Solutions LLC raised its position in shares of Colgate-Palmolive by 9.2% in the fourth quarter. Dynamic Advisor Solutions LLC now owns 10,808 shares of the company's stock valued at $864,000 after purchasing an additional 910 shares during the period. Sarasin & Partners LLP lifted its stake in shares of Colgate-Palmolive by 1.2% during the 4th quarter. Sarasin & Partners LLP now owns 4,053,634 shares of the company's stock worth $323,115,000 after buying an additional 49,980 shares during the last quarter. Finally, Cornerstone Wealth Management LLC boosted its holdings in shares of Colgate-Palmolive by 2.5% during the 4th quarter. Cornerstone Wealth Management LLC now owns 7,170 shares of the company's stock worth $571,000 after buying an additional 172 shares during the period. 80.41% of the stock is currently owned by institutional investors and hedge funds.

Colgate-Palmolive Price Performance

Shares of NYSE CL traded up $1.41 during trading hours on Tuesday, hitting $91.90. 5,286,250 shares of the stock were exchanged, compared to its average volume of 4,616,837. The company's fifty day simple moving average is $87.95 and its two-hundred day simple moving average is $81.92. The company has a market cap of $75.54 billion, a PE ratio of 29.08, a price-to-earnings-growth ratio of 3.42 and a beta of 0.42. The company has a debt-to-equity ratio of 8.59, a quick ratio of 0.28 and a current ratio of 0.42. Colgate-Palmolive has a 1-year low of $67.62 and a 1-year high of $92.25.

Colgate-Palmolive (NYSE:CL - Get Free Report) last issued its earnings results on Friday, April 26th. The company reported $0.86 earnings per share for the quarter, beating analysts' consensus estimates of $0.82 by $0.04. Colgate-Palmolive had a return on equity of 485.40% and a net margin of 13.22%. The firm had revenue of $5.07 billion for the quarter, compared to the consensus estimate of $4.96 billion. During the same quarter last year, the business posted $0.73 EPS. The company's revenue was up 6.2% compared to the same quarter last year. On average, sell-side analysts predict that Colgate-Palmolive will post 3.5 EPS for the current year.

Colgate-Palmolive Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, May 15th. Shareholders of record on Monday, April 22nd will be paid a dividend of $0.50 per share. This is an increase from Colgate-Palmolive's previous quarterly dividend of $0.48. The ex-dividend date is Friday, April 19th. This represents a $2.00 annualized dividend and a yield of 2.18%. Colgate-Palmolive's payout ratio is presently 63.29%.

Insider Transactions at Colgate-Palmolive

In related news, EVP Gregory Malcolm sold 8,930 shares of the company's stock in a transaction that occurred on Thursday, February 1st. The shares were sold at an average price of $85.35, for a total transaction of $762,175.50. Following the completion of the transaction, the executive vice president now directly owns 8,043 shares in the company, valued at approximately $686,470.05. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. In related news, CEO Noel R. Wallace sold 29,772 shares of Colgate-Palmolive stock in a transaction that occurred on Friday, February 16th. The shares were sold at an average price of $84.06, for a total transaction of $2,502,634.32. Following the sale, the chief executive officer now directly owns 301,343 shares in the company, valued at approximately $25,330,892.58. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, EVP Gregory Malcolm sold 8,930 shares of the company's stock in a transaction that occurred on Thursday, February 1st. The shares were sold at an average price of $85.35, for a total transaction of $762,175.50. Following the completion of the transaction, the executive vice president now owns 8,043 shares of the company's stock, valued at $686,470.05. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 232,371 shares of company stock valued at $19,505,099. 0.37% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

Several research analysts have weighed in on CL shares. Morgan Stanley increased their price target on shares of Colgate-Palmolive from $85.00 to $93.00 and gave the company an "overweight" rating in a report on Monday, January 29th. Raymond James raised Colgate-Palmolive from a "market perform" rating to an "outperform" rating and set a $91.00 price target for the company in a report on Monday, January 29th. Citigroup upped their price objective on Colgate-Palmolive from $95.00 to $100.00 and gave the company a "buy" rating in a report on Tuesday, April 16th. Barclays lifted their target price on Colgate-Palmolive from $84.00 to $85.00 and gave the stock an "equal weight" rating in a report on Tuesday. Finally, UBS Group raised their price target on shares of Colgate-Palmolive from $93.00 to $95.00 and gave the stock a "buy" rating in a research report on Monday, January 29th. Three research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average target price of $91.44.

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.