State of New Jersey Common Pension Fund D decreased its holdings in shares of Colgate-Palmolive (NYSE:CL) by 4.5% in the 3rd quarter, according to its most recent 13F filing with the SEC. The fund owned 543,266 shares of the company’s stock after selling 25,576 shares during the period. State of New Jersey Common Pension Fund D’s holdings in Colgate-Palmolive were worth $41,913,000 at the end of the most recent reporting period.
Other institutional investors have also modified their holdings of the company. Evolution Wealth Advisors LLC raised its stake in Colgate-Palmolive by 158.4% during the 3rd quarter. Evolution Wealth Advisors LLC now owns 323 shares of the company’s stock worth $25,000 after buying an additional 198 shares during the period. Newfound Research LLC bought a new position in Colgate-Palmolive during the 3rd quarter worth about $28,000. Keebeck Wealth Management LLC bought a new position in Colgate-Palmolive during the 2nd quarter worth about $41,000. Okabena Investment Services Inc. acquired a new stake in shares of Colgate-Palmolive in the 2nd quarter valued at about $51,000. Finally, Ellevest Inc. lifted its holdings in shares of Colgate-Palmolive by 262.8% in the second quarter. Ellevest Inc. now owns 751 shares of the company’s stock valued at $55,000 after purchasing an additional 544 shares in the last quarter. Institutional investors own 76.74% of the company’s stock.
CL has been the topic of a number of recent research reports. Deutsche Bank Aktiengesellschaft lifted their target price on Colgate-Palmolive from $75.00 to $78.00 and gave the company a “hold” rating in a research report on Monday, August 3rd. TheStreet upgraded shares of Colgate-Palmolive from a “c+” rating to a “b+” rating in a report on Friday, July 31st. Morgan Stanley increased their target price on shares of Colgate-Palmolive from $78.00 to $80.00 and gave the stock an “equal weight” rating in a report on Monday, August 3rd. Royal Bank of Canada reaffirmed a “buy” rating and issued a $88.00 target price on shares of Colgate-Palmolive in a research report on Thursday, July 30th. Finally, Truist boosted their price target on shares of Colgate-Palmolive from $80.00 to $85.00 in a research report on Monday. Three investment analysts have rated the stock with a sell rating, four have issued a hold rating and six have given a buy rating to the stock. Colgate-Palmolive has an average rating of “Hold” and an average target price of $76.08.
In related news, insider Sally Massey sold 387 shares of Colgate-Palmolive stock in a transaction that occurred on Monday, September 28th. The stock was sold at an average price of $77.30, for a total transaction of $29,915.10. Following the completion of the sale, the insider now directly owns 4,856 shares of the company’s stock, valued at approximately $375,368.80. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, CTO Patricia Verduin sold 42,775 shares of the business’s stock in a transaction on Wednesday, August 5th. The shares were sold at an average price of $76.52, for a total value of $3,273,143.00. Following the completion of the sale, the chief technology officer now owns 89,800 shares of the company’s stock, valued at $6,871,496. The disclosure for this sale can be found here. In the last quarter, insiders sold 256,994 shares of company stock worth $19,678,851. 0.78% of the stock is owned by company insiders.
Shares of NYSE CL opened at $76.67 on Friday. The company has a current ratio of 0.92, a quick ratio of 0.59 and a debt-to-equity ratio of 9.40. The company has a market capitalization of $65.74 billion, a P/E ratio of 25.64, a P/E/G ratio of 4.54 and a beta of 0.59. Colgate-Palmolive has a 12 month low of $58.49 and a 12 month high of $80.99. The stock has a 50 day moving average of $77.86 and a 200-day moving average of $74.60.
Colgate-Palmolive (NYSE:CL) last released its quarterly earnings data on Friday, July 31st. The company reported $0.74 EPS for the quarter, topping the Zacks’ consensus estimate of $0.69 by $0.05. The firm had revenue of $3.90 billion during the quarter, compared to analysts’ expectations of $3.78 billion. Colgate-Palmolive had a net margin of 16.13% and a return on equity of 559.34%. The company’s revenue for the quarter was up .8% compared to the same quarter last year. During the same period in the previous year, the business posted $0.72 earnings per share. Analysts predict that Colgate-Palmolive will post 2.96 EPS for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Monday, November 16th. Investors of record on Friday, October 23rd will be issued a dividend of $0.44 per share. This represents a $1.76 annualized dividend and a dividend yield of 2.30%. The ex-dividend date of this dividend is Thursday, October 22nd. Colgate-Palmolive’s payout ratio is 62.19%.
Colgate-Palmolive Company, together with its subsidiaries, manufactures and sells consumer products worldwide. The company operates through two segments, Oral, Personal and Home Care; and Pet Nutrition. The Oral, Personal and Home Care segment products include 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 similar items.
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