Mitsubishi UFJ Trust & Banking Corp Boosts Stock Holdings in Colgate-Palmolive Company $CL

Mitsubishi UFJ Trust & Banking Corp lifted its stake in Colgate-Palmolive Company (NYSE:CL) by 11.4% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 1,061,126 shares of the company’s stock after buying an additional 108,379 shares during the period. Mitsubishi UFJ Trust & Banking Corp owned approximately 0.13% of Colgate-Palmolive worth $96,456,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently modified their holdings of the stock. Vanguard Group Inc. grew its position in Colgate-Palmolive by 0.6% during the 1st quarter. Vanguard Group Inc. now owns 81,758,257 shares of the company’s stock worth $7,660,749,000 after acquiring an additional 455,198 shares during the last quarter. Price T Rowe Associates Inc. MD lifted its position in Colgate-Palmolive by 18.3% in the first quarter. Price T Rowe Associates Inc. MD now owns 34,009,078 shares of the company’s stock valued at $3,186,651,000 after purchasing an additional 5,269,140 shares during the last quarter. Goldman Sachs Group Inc. boosted its stake in shares of Colgate-Palmolive by 34.5% during the first quarter. Goldman Sachs Group Inc. now owns 7,980,387 shares of the company’s stock valued at $747,762,000 after purchasing an additional 2,045,191 shares during the period. Deutsche Bank AG grew its holdings in shares of Colgate-Palmolive by 3.7% in the first quarter. Deutsche Bank AG now owns 7,176,598 shares of the company’s stock worth $672,447,000 after purchasing an additional 253,604 shares during the last quarter. Finally, Ameriprise Financial Inc. increased its stake in shares of Colgate-Palmolive by 2.6% in the first quarter. Ameriprise Financial Inc. now owns 6,976,654 shares of the company’s stock worth $653,761,000 after buying an additional 177,833 shares during the period. Institutional investors own 80.41% of the company’s stock.

Wall Street Analysts Forecast Growth

CL has been the subject of a number of recent analyst reports. Piper Sandler initiated coverage on shares of Colgate-Palmolive in a report on Friday, October 3rd. They set a “neutral” rating and a $84.00 price target for the company. Morgan Stanley lowered their price objective on shares of Colgate-Palmolive from $96.00 to $87.00 and set an “overweight” rating for the company in a research note on Monday, November 3rd. JPMorgan Chase & Co. dropped their target price on shares of Colgate-Palmolive from $88.00 to $87.00 and set an “overweight” rating for the company in a report on Monday, November 3rd. Raymond James Financial reduced their price target on Colgate-Palmolive from $105.00 to $95.00 and set an “outperform” rating on the stock in a report on Monday, October 20th. Finally, Deutsche Bank Aktiengesellschaft set a $86.00 price target on Colgate-Palmolive in a research report on Friday, October 10th. Nine research analysts have rated the stock with a Buy rating, five have issued a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $89.87.

Colgate-Palmolive Price Performance

Shares of NYSE CL opened at $79.53 on Wednesday. Colgate-Palmolive Company has a 1 year low of $74.54 and a 1 year high of $100.18. The stock has a market capitalization of $64.11 billion, a P/E ratio of 22.34, a P/E/G ratio of 4.44 and a beta of 0.35. The company’s 50-day moving average is $79.52 and its 200 day moving average is $85.44. The company has a debt-to-equity ratio of 6.79, a current ratio of 0.89 and a quick ratio of 0.57.

Colgate-Palmolive (NYSE:CL) last issued its quarterly earnings data on Friday, October 31st. The company reported $0.91 EPS for the quarter, topping the consensus estimate of $0.89 by $0.02. Colgate-Palmolive had a net margin of 14.55% and a return on equity of 377.63%. The business had revenue of $5.13 billion during the quarter, compared to analyst estimates of $5.17 billion. During the same period last year, the business posted $0.91 earnings per share. Colgate-Palmolive’s quarterly revenue was up 1.9% compared to the same quarter last year. On average, sell-side analysts expect that Colgate-Palmolive Company will post 3.75 earnings per share for the current year.

Colgate-Palmolive Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, November 14th. Investors of record on Friday, October 17th will be given a dividend of $0.52 per share. The ex-dividend date is Friday, October 17th. This represents a $2.08 annualized dividend and a dividend yield of 2.6%. Colgate-Palmolive’s payout ratio is currently 58.26%.

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.