Colgate-Palmolive (NYSE:CL) Shares Sold by California Public Employees Retirement System

California Public Employees Retirement System trimmed its holdings in Colgate-Palmolive (NYSE:CL) by 1.1% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 3,815,393 shares of the company’s stock after selling 41,693 shares during the quarter. California Public Employees Retirement System owned 0.47% of Colgate-Palmolive worth $346,857,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors also recently made changes to their positions in the business. Allianz SE bought a new stake in Colgate-Palmolive during the fourth quarter worth approximately $8,645,000. Transamerica Financial Advisors Inc. boosted its stake in shares of Colgate-Palmolive by 30.1% during the 4th quarter. Transamerica Financial Advisors Inc. now owns 8,240 shares of the company’s stock worth $750,000 after acquiring an additional 1,905 shares in the last quarter. OneAscent Wealth Management LLC grew its holdings in shares of Colgate-Palmolive by 4.2% in the 4th quarter. OneAscent Wealth Management LLC now owns 3,725 shares of the company’s stock worth $339,000 after acquiring an additional 149 shares during the last quarter. Allstate Corp acquired a new stake in shares of Colgate-Palmolive during the fourth quarter worth $2,087,000. Finally, denkapparat Operations GmbH purchased a new stake in shares of Colgate-Palmolive during the fourth quarter valued at $334,000. Institutional investors own 80.41% of the company’s stock.

Analyst Ratings Changes

CL has been the topic of several recent analyst reports. Piper Sandler cut their price objective on Colgate-Palmolive from $121.00 to $112.00 and set an “overweight” rating on the stock in a report on Monday, January 6th. StockNews.com lowered shares of Colgate-Palmolive from a “buy” rating to a “hold” rating in a report on Tuesday, March 25th. TD Cowen decreased their price objective on shares of Colgate-Palmolive from $110.00 to $100.00 and set a “buy” rating for the company in a research note on Wednesday, January 8th. JPMorgan Chase & Co. boosted their target price on shares of Colgate-Palmolive from $97.00 to $99.00 and gave the company an “overweight” rating in a research note on Friday, March 14th. Finally, Raymond James reaffirmed an “outperform” rating and issued a $105.00 target price (down previously from $110.00) on shares of Colgate-Palmolive in a research report on Monday, February 3rd. One investment analyst has rated the stock with a sell rating, ten have issued a hold rating and eleven have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $102.06.

Colgate-Palmolive Trading Down 0.5 %

Colgate-Palmolive stock opened at $92.73 on Friday. Colgate-Palmolive has a one year low of $85.32 and a one year high of $109.30. The company’s fifty day moving average price is $89.69 and its two-hundred day moving average price is $93.61. The company has a market capitalization of $75.25 billion, a price-to-earnings ratio of 26.34, a PEG ratio of 4.20 and a beta of 0.40. The company has a debt-to-equity ratio of 13.40, a current ratio of 0.92 and a quick ratio of 0.58.

Colgate-Palmolive (NYSE:CL) last issued its quarterly earnings data on Friday, January 31st. The company reported $0.91 earnings per share for the quarter, beating analysts’ consensus estimates of $0.90 by $0.01. Colgate-Palmolive had a return on equity of 477.77% and a net margin of 14.38%. During the same period in the prior year, the business posted $0.87 EPS. On average, analysts forecast that Colgate-Palmolive will post 3.75 earnings per share for the current fiscal year.

Colgate-Palmolive Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, May 15th. Stockholders of record on Thursday, April 17th will be paid a $0.52 dividend. This represents a $2.08 dividend on an annualized basis and a dividend yield of 2.24%. This is a boost from Colgate-Palmolive’s previous quarterly dividend of $0.50. The ex-dividend date is Thursday, April 17th. Colgate-Palmolive’s payout ratio is presently 59.09%.

Colgate-Palmolive declared that its Board of Directors has approved a stock repurchase program on Thursday, March 20th that permits the company to repurchase $5.00 billion in outstanding shares. This repurchase authorization permits the company to buy up to 6.8% of its stock through open market purchases. Stock repurchase programs are often a sign that the company’s board of directors believes its stock is undervalued.

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.