Colgate-Palmolive Company $CL Shares Sold by Legal & General Group Plc

Legal & General Group Plc lessened its position in Colgate-Palmolive Company (NYSE:CL) by 4.2% in the second quarter, HoldingsChannel.com reports. The institutional investor owned 5,757,271 shares of the company’s stock after selling 252,642 shares during the period. Legal & General Group Plc’s holdings in Colgate-Palmolive were worth $523,336,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. Grimes & Company Inc. increased its stake in Colgate-Palmolive by 1.0% in the second quarter. Grimes & Company Inc. now owns 12,495 shares of the company’s stock valued at $1,136,000 after purchasing an additional 118 shares during the last quarter. RFG Advisory LLC boosted its position in shares of Colgate-Palmolive by 1.4% in the second quarter. RFG Advisory LLC now owns 9,227 shares of the company’s stock worth $839,000 after buying an additional 123 shares during the period. Tiemann Investment Advisors LLC grew its stake in shares of Colgate-Palmolive by 2.1% in the second quarter. Tiemann Investment Advisors LLC now owns 6,083 shares of the company’s stock valued at $553,000 after buying an additional 125 shares in the last quarter. Redhawk Wealth Advisors Inc. raised its stake in shares of Colgate-Palmolive by 2.4% during the second quarter. Redhawk Wealth Advisors Inc. now owns 5,467 shares of the company’s stock valued at $497,000 after purchasing an additional 129 shares during the period. Finally, Westside Investment Management Inc. lifted its position in shares of Colgate-Palmolive by 85.5% during the second quarter. Westside Investment Management Inc. now owns 282 shares of the company’s stock worth $26,000 after purchasing an additional 130 shares in the last quarter. 80.41% of the stock is owned by hedge funds and other institutional investors.

Colgate-Palmolive Stock Up 2.7%

Shares of Colgate-Palmolive stock opened at $80.97 on Friday. Colgate-Palmolive Company has a twelve month low of $74.54 and a twelve month high of $100.18. The stock has a market capitalization of $65.27 billion, a price-to-earnings ratio of 22.74, a PEG ratio of 4.44 and a beta of 0.35. The company has a current ratio of 0.89, a quick ratio of 0.57 and a debt-to-equity ratio of 6.79. The business’s 50 day simple moving average is $78.73 and its 200-day simple moving average is $84.84.

Colgate-Palmolive (NYSE:CL) last issued its earnings results on Friday, October 31st. The company reported $0.91 earnings per share for the quarter, topping the consensus estimate of $0.89 by $0.02. The firm had revenue of $5.13 billion for the quarter, compared to analyst estimates of $5.17 billion. Colgate-Palmolive had a return on equity of 377.63% and a net margin of 14.55%.The firm’s revenue for the quarter was up 1.9% on a year-over-year basis. During the same period last year, the company earned $0.91 earnings per share. Equities research analysts forecast that Colgate-Palmolive Company will post 3.75 earnings per share for the current year.

Colgate-Palmolive Announces Dividend

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

Wall Street Analyst Weigh In

CL has been the subject of several recent analyst reports. Wells Fargo & Company decreased their price objective on shares of Colgate-Palmolive from $80.00 to $77.00 and set an “underweight” rating for the company in a report on Monday, November 3rd. UBS Group decreased their price target on Colgate-Palmolive from $92.00 to $90.00 and set a “buy” rating for the company in a research note on Monday, November 3rd. Morgan Stanley lowered their price objective on Colgate-Palmolive from $96.00 to $87.00 and set an “overweight” rating for the company in a report on Monday, November 3rd. Piper Sandler initiated coverage on Colgate-Palmolive in a report on Friday, October 3rd. They set a “neutral” rating and a $84.00 target price on the stock. Finally, JPMorgan Chase & Co. lowered their price target on Colgate-Palmolive from $88.00 to $87.00 and set an “overweight” rating for the company in a report on Monday, November 3rd. Nine analysts have rated the stock with a Buy rating, five have issued a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, Colgate-Palmolive has an average rating of “Moderate Buy” and an average target price of $89.87.

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.