Danica Pension Livsforsikringsaktieselskab Sells 100,763 Shares of Colgate-Palmolive Company $CL

Danica Pension Livsforsikringsaktieselskab cut its holdings in Colgate-Palmolive Company (NYSE:CL) by 24.7% in the 2nd quarter, according to its most recent 13F filing with the SEC. The firm owned 307,752 shares of the company’s stock after selling 100,763 shares during the quarter. Danica Pension Livsforsikringsaktieselskab’s holdings in Colgate-Palmolive were worth $28,215,000 as of its most recent SEC filing.

Other hedge funds have also recently bought and sold shares of the company. Diversify Advisory Services LLC acquired a new stake in Colgate-Palmolive during the 2nd quarter worth approximately $1,101,000. Oxbow Advisors LLC boosted its holdings in shares of Colgate-Palmolive by 0.8% in the second quarter. Oxbow Advisors LLC now owns 40,246 shares of the company’s stock valued at $3,690,000 after buying an additional 326 shares during the period. Wealthfront Advisers LLC increased its position in shares of Colgate-Palmolive by 15.8% during the second quarter. Wealthfront Advisers LLC now owns 305,090 shares of the company’s stock worth $27,971,000 after acquiring an additional 41,712 shares in the last quarter. Main Street Financial Solutions LLC acquired a new stake in shares of Colgate-Palmolive during the second quarter worth $384,000. Finally, RHS Financial LLC bought a new stake in Colgate-Palmolive in the 2nd quarter valued at $648,000. 80.41% of the stock is currently owned by institutional investors and hedge funds.

Colgate-Palmolive Stock Performance

Shares of CL stock opened at $91.45 on Wednesday. Colgate-Palmolive Company has a 52 week low of $74.54 and a 52 week high of $99.33. The company has a market capitalization of $72.90 billion, a price-to-earnings ratio of 36.29, a PEG ratio of 4.48 and a beta of 0.33. The company has a 50-day simple moving average of $91.83 and a 200 day simple moving average of $90.10. The company has a debt-to-equity ratio of 13.82, a quick ratio of 0.67 and a current ratio of 1.03.

Colgate-Palmolive (NYSE:CL) last released its quarterly earnings results on Friday, July 31st. The company reported $0.99 earnings per share for the quarter, beating the consensus estimate of $0.95 by $0.04. The firm had revenue of $5.36 billion for the quarter, compared to analysts’ expectations of $5.36 billion. Colgate-Palmolive had a net margin of 9.68% and a return on equity of 464.63%. The business’s revenue was up 4.9% on a year-over-year basis. During the same period in the prior year, the firm earned $0.92 EPS. On average, sell-side analysts predict that Colgate-Palmolive Company will post 3.86 earnings per share for the current year.

Colgate-Palmolive Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, August 14th. Stockholders of record on Monday, July 20th were paid a dividend of $0.53 per share. The ex-dividend date was Monday, July 20th. This represents a $2.12 dividend on an annualized basis and a dividend yield of 2.3%. Colgate-Palmolive’s dividend payout ratio (DPR) is 84.13%.

Wall Street Analyst Weigh In

CL has been the subject of a number of research analyst reports. UBS Group upped their target price on shares of Colgate-Palmolive from $106.00 to $109.00 and gave the stock a “buy” rating in a research note on Monday, August 3rd. Piper Sandler boosted their price target on Colgate-Palmolive from $92.00 to $96.00 and gave the company an “overweight” rating in a report on Thursday, July 9th. Jefferies Financial Group reaffirmed a “hold” rating on shares of Colgate-Palmolive in a research report on Monday, August 3rd. JPMorgan Chase & Co. decreased their price objective on Colgate-Palmolive from $104.00 to $103.00 and set an “overweight” rating for the company in a report on Monday, August 3rd. Finally, Rothschild & Co Redburn set a $100.00 target price on Colgate-Palmolive and gave the company a “buy” rating in a research report on Tuesday, April 21st. Twelve research analysts have rated the stock with a Buy rating and seven have given a Hold rating to the stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $99.00.

Insider Buying and Selling at Colgate-Palmolive

In related news, Director John T. Cahill sold 4,170 shares of the business’s stock in a transaction on Thursday, August 6th. The stock was sold at an average price of $93.37, for a total value of $389,352.90. Following the completion of the sale, the director directly owned 28,373 shares in the company, valued at $2,649,187.01. The trade was a 12.81% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CEO Noel R. Wallace sold 161,021 shares of the company’s stock in a transaction on Tuesday, August 4th. The shares were sold at an average price of $91.92, for a total value of $14,801,050.32. Following the completion of the transaction, the chief executive officer directly owned 362,231 shares in the company, valued at approximately $33,296,273.52. This represents a 30.77% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders own 0.43% of the company’s stock.

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.