Sumitomo Mitsui Trust Group Inc. Buys 38,836 Shares of Colgate-Palmolive Company $CL

Sumitomo Mitsui Trust Group Inc. raised its stake in shares of Colgate-Palmolive Company (NYSE:CL) by 2.0% in the third quarter, Holdings Channel reports. The institutional investor owned 1,959,458 shares of the company’s stock after buying an additional 38,836 shares during the quarter. Sumitomo Mitsui Trust Group Inc.’s holdings in Colgate-Palmolive were worth $156,639,000 as of its most recent SEC filing.

Several other large investors have also recently modified their holdings of CL. Cidel Asset Management Inc. increased its position in shares of Colgate-Palmolive by 13.6% during the second quarter. Cidel Asset Management Inc. now owns 329,060 shares of the company’s stock valued at $29,912,000 after acquiring an additional 39,413 shares in the last quarter. Asset Management One Co. Ltd. boosted its holdings in shares of Colgate-Palmolive by 3.9% during the 3rd quarter. Asset Management One Co. Ltd. now owns 422,292 shares of the company’s stock valued at $33,758,000 after acquiring an additional 16,017 shares during the last quarter. Vanguard Group Inc. lifted its position in Colgate-Palmolive by 1.2% during the second quarter. Vanguard Group Inc. now owns 82,751,689 shares of the company’s stock valued at $7,522,129,000 after purchasing an additional 993,432 shares during the period. Sequoia Financial Advisors LLC raised its stake in Colgate-Palmolive by 18.6% during the 2nd quarter. Sequoia Financial Advisors LLC now owns 30,273 shares of the company’s stock valued at $2,752,000 after buying an additional 4,738 shares during the last quarter. Finally, Welch Group LLC boosted its stake in shares of Colgate-Palmolive by 1.5% in the 2nd quarter. Welch Group LLC now owns 665,041 shares of the company’s stock worth $60,452,000 after buying an additional 9,689 shares during the last quarter. Hedge funds and other institutional investors own 80.41% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on CL shares. Piper Sandler set a $88.00 price target on Colgate-Palmolive and gave the company an “overweight” rating in a research note on Tuesday, January 6th. Evercore ISI lowered their target price on Colgate-Palmolive from $100.00 to $94.00 and set an “outperform” rating on the stock in a research report on Monday, November 3rd. Jefferies Financial Group set a $85.00 target price on shares of Colgate-Palmolive in a research note on Tuesday, December 16th. Bank of America dropped their target price on shares of Colgate-Palmolive from $98.00 to $88.00 and set a “buy” rating for the company in a report on Wednesday, October 8th. Finally, UBS Group cut their target price on Colgate-Palmolive from $92.00 to $90.00 and set a “buy” rating for the company in a research report on Monday, November 3rd. Eleven analysts have rated the stock with a Buy rating, four have given a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $88.75.

Colgate-Palmolive Price Performance

Colgate-Palmolive stock opened at $81.91 on Tuesday. The firm’s fifty day moving average is $78.85 and its 200 day moving average is $81.87. The company has a quick ratio of 0.60, a current ratio of 0.93 and a debt-to-equity ratio of 5.90. The company has a market cap of $66.03 billion, a price-to-earnings ratio of 22.94, a PEG ratio of 5.52 and a beta of 0.30. Colgate-Palmolive Company has a 52-week low of $74.54 and a 52-week high of $100.18.

Colgate-Palmolive (NYSE:CL) last issued its quarterly earnings data on Friday, October 31st. The company reported $0.91 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.89 by $0.02. Colgate-Palmolive had a return on equity of 333.39% and a net margin of 14.47%.The business had revenue of $5.13 billion for the quarter, compared to the consensus estimate of $5.17 billion. During the same period in the prior year, the business posted $0.91 earnings per share. The company’s quarterly revenue was up 1.9% compared to the same quarter last year. Sell-side analysts forecast that Colgate-Palmolive Company will post 3.75 EPS for the current fiscal year.

Colgate-Palmolive Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, February 13th. Stockholders of record on Wednesday, January 21st will be given a dividend of $0.52 per share. This represents a $2.08 annualized dividend and a dividend yield of 2.5%. The ex-dividend date is Wednesday, January 21st. Colgate-Palmolive’s dividend payout ratio (DPR) is 58.26%.

Colgate-Palmolive Company Profile

Colgate-Palmolive Company is a global consumer products company with a long history in household and personal care categories. The business traces its roots to the early 19th century and has evolved into a multinational manufacturer and marketer of everyday consumer goods focused on health, hygiene and home care.

The company’s core activities center on oral care, personal care, home care and pet nutrition. Its product portfolio includes toothpaste, toothbrushes and mouthwash in oral care; soaps, body washes and deodorants in personal care; dishwashing liquids, surface cleaners and other household products in home care; and scientifically formulated pet foods under its pet nutrition business.