First Trust Advisors LP Lowers Position in Colgate-Palmolive (NYSE:CL)

First Trust Advisors LP reduced its stake in shares of Colgate-Palmolive (NYSE:CLFree Report) by 2.4% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 3,155,034 shares of the company’s stock after selling 76,694 shares during the period. First Trust Advisors LP’s holdings in Colgate-Palmolive were worth $251,488,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in CL. Hirtle Callaghan & Co LLC purchased a new position in shares of Colgate-Palmolive during the 4th quarter valued at $223,000. Belpointe Asset Management LLC lifted its position in shares of Colgate-Palmolive by 12.6% in the fourth quarter. Belpointe Asset Management LLC now owns 5,552 shares of the company’s stock valued at $443,000 after acquiring an additional 621 shares in the last quarter. Carmignac Gestion boosted its stake in shares of Colgate-Palmolive by 40.5% in the fourth quarter. Carmignac Gestion now owns 360,609 shares of the company’s stock worth $28,718,000 after acquiring an additional 103,879 shares during the period. Rafferty Asset Management LLC raised its stake in Colgate-Palmolive by 3.7% during the 4th quarter. Rafferty Asset Management LLC now owns 63,883 shares of the company’s stock valued at $5,092,000 after purchasing an additional 2,297 shares during the period. Finally, NEOS Investment Management LLC lifted its holdings in Colgate-Palmolive by 42.1% in the 4th quarter. NEOS Investment Management LLC now owns 11,669 shares of the company’s stock worth $930,000 after purchasing an additional 3,457 shares in the last quarter. 80.41% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, insider John W. Kooyman sold 3,497 shares of the firm’s stock in a transaction dated Tuesday, May 7th. The stock was sold at an average price of $93.47, for a total transaction of $326,864.59. Following the sale, the insider now directly owns 3,181 shares of the company’s stock, valued at $297,328.07. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. In related news, insider Sally Massey sold 12,226 shares of Colgate-Palmolive stock in a transaction that occurred on Thursday, May 9th. The stock was sold at an average price of $94.06, for a total transaction of $1,149,977.56. Following the transaction, the insider now owns 13,924 shares in the company, valued at $1,309,691.44. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, insider John W. Kooyman sold 3,497 shares of Colgate-Palmolive stock in a transaction dated Tuesday, May 7th. The stock was sold at an average price of $93.47, for a total transaction of $326,864.59. Following the transaction, the insider now directly owns 3,181 shares in the company, valued at $297,328.07. The disclosure for this sale can be found here. 0.34% of the stock is currently owned by company insiders.

Analyst Ratings Changes

CL has been the topic of several recent analyst reports. Citigroup lifted their price objective on shares of Colgate-Palmolive from $95.00 to $100.00 and gave the company a “buy” rating in a research report on Tuesday, April 16th. Bank of America raised their price objective on Colgate-Palmolive from $90.00 to $100.00 and gave the company a “buy” rating in a research report on Monday, April 29th. 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, April 30th. Evercore ISI lifted their price objective on Colgate-Palmolive from $90.00 to $96.00 and gave the stock an “outperform” rating in a research note on Monday, April 8th. Finally, Royal Bank of Canada boosted their price target on shares of Colgate-Palmolive from $88.00 to $95.00 and gave the stock a “sector perform” rating in a research report on Monday, April 29th. Three investment analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $92.94.

Read Our Latest Research Report on Colgate-Palmolive

Colgate-Palmolive Stock Down 0.2 %

Shares of NYSE CL opened at $93.66 on Thursday. The stock has a market capitalization of $76.84 billion, a PE ratio of 29.64, a price-to-earnings-growth ratio of 3.45 and a beta of 0.39. The company has a current ratio of 1.06, a quick ratio of 0.70 and a debt-to-equity ratio of 13.21. Colgate-Palmolive has a 12-month low of $67.62 and a 12-month high of $95.59. The stock’s fifty day simple moving average is $90.97 and its two-hundred day simple moving average is $85.37.

Colgate-Palmolive (NYSE:CLGet Free Report) last released its quarterly 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. The business had revenue of $5.07 billion for the quarter, compared to analysts’ expectations of $4.96 billion. Colgate-Palmolive had a net margin of 13.22% and a return on equity of 485.40%. The company’s revenue was up 6.2% compared to the same quarter last year. During the same period last year, the business earned $0.73 EPS. As a group, analysts expect that Colgate-Palmolive will post 3.53 EPS for the current fiscal year.

Colgate-Palmolive Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, May 15th. Shareholders of record on Monday, April 22nd were given a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a yield of 2.14%. The ex-dividend date of this dividend was Friday, April 19th. This is an increase from Colgate-Palmolive’s previous quarterly dividend of $0.48. Colgate-Palmolive’s payout ratio is currently 63.29%.

Colgate-Palmolive Company Profile

(Free Report)

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.

Further Reading

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Institutional Ownership by Quarter for Colgate-Palmolive (NYSE:CL)

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