Truist Financial Corp Sells 50,008 Shares of Colgate-Palmolive (NYSE:CL)

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

A number of other hedge funds and other institutional investors have also modified their holdings of CL. OFI Invest Asset Management bought a new stake in Colgate-Palmolive during the third quarter worth $25,000. Avion Wealth grew its holdings in Colgate-Palmolive by 78.1% during the fourth quarter. Avion Wealth now owns 399 shares of the company’s stock worth $32,000 after purchasing an additional 175 shares during the period. McGlone Suttner Wealth Management Inc. acquired a new position in Colgate-Palmolive during the fourth quarter worth approximately $34,000. Kayne Anderson Rudnick Investment Management LLC raised its stake in Colgate-Palmolive by 142.0% in the third quarter. Kayne Anderson Rudnick Investment Management LLC now owns 496 shares of the company’s stock valued at $35,000 after buying an additional 291 shares during the period. Finally, West Branch Capital LLC lifted its position in shares of Colgate-Palmolive by 24.0% in the fourth quarter. West Branch Capital LLC now owns 682 shares of the company’s stock valued at $54,000 after buying an additional 132 shares during the last quarter. Institutional investors and hedge funds own 80.41% of the company’s stock.

Insider Activity at Colgate-Palmolive

In other news, insider Jennifer Daniels sold 61,633 shares of the stock in a transaction dated Thursday, February 1st. The stock was sold at an average price of $83.93, for a total transaction of $5,172,857.69. Following the transaction, the insider now directly owns 57,948 shares in the company, valued at approximately $4,863,575.64. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, insider Jennifer Daniels sold 61,633 shares of the firm’s stock in a transaction dated Thursday, February 1st. The stock was sold at an average price of $83.93, for a total transaction of $5,172,857.69. Following the transaction, the insider now directly owns 57,948 shares of the company’s stock, valued at $4,863,575.64. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Gregory Malcolm sold 8,930 shares of the business’s stock in a transaction dated Thursday, February 1st. The shares were sold at an average price of $85.35, for a total value of $762,175.50. Following the completion of the sale, the executive vice president now directly owns 8,043 shares of the company’s stock, valued at approximately $686,470.05. The disclosure for this sale can be found here. Insiders have sold 232,371 shares of company stock valued at $19,505,099 over the last three months. 0.37% of the stock is owned by corporate insiders.

Colgate-Palmolive Stock Performance

NYSE CL opened at $90.49 on Tuesday. Colgate-Palmolive has a 52-week low of $67.62 and a 52-week high of $92.25. The company has a 50-day simple moving average of $87.80 and a 200 day simple moving average of $81.77. The company has a market capitalization of $74.38 billion, a PE ratio of 28.64, 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 (NYSE:CL) last announced its quarterly earnings results on Friday, April 26th. The company reported $0.86 EPS for the quarter, beating analysts’ consensus estimates of $0.82 by $0.04. Colgate-Palmolive had a net margin of 13.22% and a return on equity of 485.40%. The company had revenue of $5.07 billion for the quarter, compared to analysts’ expectations of $4.96 billion. During the same period in the prior year, the company posted $0.73 EPS. Colgate-Palmolive’s revenue was up 6.2% compared to the same quarter last year. On average, research analysts predict that Colgate-Palmolive will post 3.5 EPS for the current year.

Colgate-Palmolive Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 15th. Investors of record on Monday, April 22nd will be paid a dividend of $0.50 per share. This is a positive change from Colgate-Palmolive’s previous quarterly dividend of $0.48. The ex-dividend date of this dividend is Friday, April 19th. This represents a $2.00 annualized dividend and a yield of 2.21%. Colgate-Palmolive’s dividend payout ratio (DPR) is currently 63.29%.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently issued reports on the company. Wells Fargo & Company boosted their price objective on Colgate-Palmolive from $90.00 to $92.00 and gave the stock an “equal weight” rating in a report on Monday. The Goldman Sachs Group started coverage on shares of Colgate-Palmolive in a research note on Friday, March 1st. They issued a “buy” rating and a $93.00 price target on the stock. JPMorgan Chase & Co. upped their price objective on Colgate-Palmolive from $88.00 to $90.00 and gave the company an “overweight” rating in a research note on Thursday, January 18th. Barclays raised their price objective on Colgate-Palmolive from $82.00 to $84.00 and gave the stock an “equal weight” rating in a research report on Friday, April 12th. Finally, Bank of America increased their price target on Colgate-Palmolive from $90.00 to $100.00 and gave the stock a “buy” rating in a report on Monday. Three equities research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company’s stock. According to data from MarketBeat, Colgate-Palmolive has a consensus rating of “Moderate Buy” and an average price target of $91.38.

Colgate-Palmolive 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.