11,986 Colgate-Palmolive Company $CL Shares Purchased by Rakuten Investment Management Inc.

Rakuten Investment Management Inc. increased its holdings in Colgate-Palmolive Company (NYSE:CL) by 9.3% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 140,679 shares of the company’s stock after purchasing an additional 11,986 shares during the quarter. Rakuten Investment Management Inc.’s holdings in Colgate-Palmolive were worth $12,163,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also bought and sold shares of the stock. AIA Group Ltd grew its holdings in Colgate-Palmolive by 140.5% during the 3rd quarter. AIA Group Ltd now owns 47,369 shares of the company’s stock worth $4,042,000 after acquiring an additional 27,670 shares during the period. Provenance Wealth Advisors LLC acquired a new position in shares of Colgate-Palmolive in the 3rd quarter valued at about $526,000. Integras Partners LLC lifted its stake in shares of Colgate-Palmolive by 0.6% in the 3rd quarter. Integras Partners LLC now owns 35,991 shares of the company’s stock valued at $3,071,000 after purchasing an additional 207 shares during the period. Associated Banc Corp bought a new stake in shares of Colgate-Palmolive during the 3rd quarter valued at about $5,437,000. Finally, Integrity Alliance LLC. boosted its position in shares of Colgate-Palmolive by 21.7% during the 3rd quarter. Integrity Alliance LLC. now owns 3,060 shares of the company’s stock valued at $261,000 after purchasing an additional 545 shares in the last quarter. 80.41% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, COO Panagiotis Tsourapas sold 10,000 shares of the stock in a transaction that occurred on Monday, August 24th. The shares were sold at an average price of $92.05, for a total transaction of $920,500.00. Following the completion of the transaction, the chief operating officer directly owned 64,901 shares of the company’s stock, valued at $5,974,137.05. This represents a 13.35% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 0.43% of the stock is currently owned by insiders.

Colgate-Palmolive Trading Up 3.2%

Shares of Colgate-Palmolive stock opened at $98.65 on Thursday. The firm has a market cap of $78.42 billion, a PE ratio of 38.69, a P/E/G ratio of 4.34 and a beta of 0.31. Colgate-Palmolive Company has a 1 year low of $75.96 and a 1 year high of $99.69. The company has a debt-to-equity ratio of 11.23, a current ratio of 0.96 and a quick ratio of 0.30. The stock has a fifty day moving average price of $89.88 and a 200-day moving average price of $89.85.

Colgate-Palmolive (NYSE:CL) last issued its quarterly earnings results on Friday, October 30th. The company reported $0.97 earnings per share for the quarter, topping analysts’ consensus estimates of $0.93 by $0.04. The company had revenue of $5.37 billion for the quarter, compared to the consensus estimate of $5.34 billion. Colgate-Palmolive had a net margin of 9.65% and a return on equity of 607.88%. The firm’s quarterly revenue was up 4.6% on a year-over-year basis. During the same period in the previous year, the firm earned $0.91 EPS. Equities research analysts anticipate that Colgate-Palmolive Company will post 3.91 EPS for the current year.

Colgate-Palmolive Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, November 13th. Shareholders of record on Tuesday, October 20th will be paid a $0.53 dividend. This represents a $2.12 dividend on an annualized basis and a yield of 2.1%. The ex-dividend date is Tuesday, October 20th. Colgate-Palmolive’s payout ratio is presently 83.14%.

Trending Headlines about Colgate-Palmolive

Here are the key news stories impacting Colgate-Palmolive this week:

• Positive Sentiment: Investors have favored Colgate-Palmolive and other Dividend Kings amid political uncertainty, seeking dependable earnings and dividends. The company’s recent quarterly results also showed resilience: earnings and revenue exceeded consensus estimates, and revenue grew year over year. Article: Dividend Kings hitting 52-week highs
• Positive Sentiment: Several firms delivered supportive signals, including price-target increases from Wells Fargo and RBC, a bullish appreciation outlook from Morgan Stanley, and an Outperform reaffirmation from BNP Paribas Exane. Article: Wells Fargo raises price target Article: Morgan Stanley outlook Article: BNP Paribas Exane reaffirms Outperform Article: RBC raises price target
• Positive Sentiment: Commentary also highlights Colgate-Palmolive’s pricing power to help protect earnings and dividends from inflation, as well as improving execution and a potentially attractive valuation. Article: Dividend stocks with pricing power Article: Improving execution and valuation
• Neutral Sentiment: Barclays raised its target but maintained an Equal Weight/Hold stance, indicating limited conviction that the shares will outperform from current levels. Article: Barclays remains a Hold
• Negative Sentiment: JPMorgan lowered its expectations for CL’s share price, a counterpoint to the recent target increases. Article: JPMorgan lowers price expectations

Analysts Set New Price Targets

CL has been the topic of several research reports. Piper Sandler dropped their price objective on shares of Colgate-Palmolive from $98.00 to $95.00 and set an “overweight” rating on the stock in a report on Monday, September 21st. Wells Fargo & Company raised their target price on Colgate-Palmolive from $90.00 to $95.00 and gave the company an “equal weight” rating in a research note on Monday. Royal Bank Of Canada boosted their target price on Colgate-Palmolive from $104.00 to $105.00 and gave the company an “outperform” rating in a research report on Monday. Citigroup upped their price target on Colgate-Palmolive from $105.00 to $110.00 and gave the stock a “buy” rating in a research note on Tuesday, July 14th. Finally, Weiss Ratings lowered Colgate-Palmolive from a “buy (b-)” rating to a “hold (c+)” rating in a report on Friday, October 2nd. Thirteen investment analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the company’s stock. According to MarketBeat.com, Colgate-Palmolive presently has an average rating of “Moderate Buy” and a consensus price target of $101.22.

Colgate-Palmolive Profile

Colgate-Palmolive Company (NYSE: CL) is a global consumer products company focused on oral care, personal care, home care and pet nutrition. Its portfolio includes toothpaste, toothbrushes, mouthwash, liquid hand soap, body wash, deodorants, household cleaning products and pet food and treats.

The company markets well-known brands such as Colgate, Palmolive, elmex, meridol, Softsoap, Irish Spring, Ajax, Protex and Hill’s Science Diet. Colgate-Palmolive also provides veterinary and nutritional products through Hill’s Pet Nutrition, which serves pet owners and animal health professionals.

Founded in 1806 by William Colgate, the company developed from a soap and candle business into a diversified consumer goods manufacturer.