Erste Asset Management GmbH Reduces Stock Position in Colgate-Palmolive Company $CL

Erste Asset Management GmbH decreased its position in shares of Colgate-Palmolive Company (NYSE:CL) by 33.8% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 60,106 shares of the company’s stock after selling 30,651 shares during the quarter. Erste Asset Management GmbH’s holdings in Colgate-Palmolive were worth $4,833,000 at the end of the most recent quarter.

Other hedge funds have also recently bought and sold shares of the company. R Squared Ltd raised its holdings in Colgate-Palmolive by 196.2% during the third quarter. R Squared Ltd now owns 11,240 shares of the company’s stock worth $899,000 after purchasing an additional 7,445 shares during the last quarter. Close Asset Management Ltd increased its position in shares of Colgate-Palmolive by 0.7% in the third quarter. Close Asset Management Ltd now owns 41,468 shares of the company’s stock valued at $3,315,000 after buying an additional 304 shares in the last quarter. Xponance Inc. raised its stake in shares of Colgate-Palmolive by 14.9% during the 3rd quarter. Xponance Inc. now owns 183,599 shares of the company’s stock worth $14,677,000 after buying an additional 23,807 shares during the last quarter. Integrated Advisors Network LLC boosted its position in shares of Colgate-Palmolive by 17.8% in the 3rd quarter. Integrated Advisors Network LLC now owns 3,250 shares of the company’s stock worth $260,000 after buying an additional 491 shares in the last quarter. Finally, Interchange Capital Partners LLC grew its stake in Colgate-Palmolive by 32.7% in the 3rd quarter. Interchange Capital Partners LLC now owns 3,302 shares of the company’s stock valued at $264,000 after acquiring an additional 814 shares during the last quarter. 80.41% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of equities analysts have issued reports on the stock. Morgan Stanley lifted their target price on shares of Colgate-Palmolive from $87.00 to $100.00 and gave the stock an “overweight” rating in a research report on Monday, February 2nd. Wells Fargo & Company raised their price objective on shares of Colgate-Palmolive from $86.00 to $94.00 and gave the stock an “equal weight” rating in a research note on Sunday, February 1st. UBS Group upped their target price on Colgate-Palmolive from $90.00 to $93.00 and gave the company a “buy” rating in a research note on Wednesday, January 14th. Rothschild & Co Redburn set a $93.00 target price on Colgate-Palmolive in a report on Friday, February 13th. Finally, Piper Sandler boosted their price target on Colgate-Palmolive from $88.00 to $96.00 and gave the stock an “overweight” rating in a report on Friday, January 30th. Eleven research analysts have rated the stock with a Buy rating and six have given a Hold rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $94.75.

Colgate-Palmolive Price Performance

CL stock opened at $99.01 on Friday. The stock has a market capitalization of $79.81 billion, a price-to-earnings ratio of 37.79, a price-to-earnings-growth ratio of 4.47 and a beta of 0.29. The company has a quick ratio of 0.27, a current ratio of 0.83 and a debt-to-equity ratio of 18.82. Colgate-Palmolive Company has a 52-week low of $74.54 and a 52-week high of $100.18. The stock’s fifty day simple moving average is $87.49 and its 200-day simple moving average is $82.72.

Colgate-Palmolive (NYSE:CL) last released its earnings results on Friday, January 30th. The company reported $0.95 earnings per share for the quarter, topping the consensus estimate of $0.91 by $0.04. Colgate-Palmolive had a return on equity of 353.72% and a net margin of 10.45%.The firm had revenue of $5.23 billion for the quarter, compared to the consensus estimate of $5.13 billion. During the same period in the prior year, the business posted $0.91 earnings per share. The firm’s revenue for the quarter was up 5.8% compared to the same quarter last year. Equities research analysts expect that Colgate-Palmolive Company will post 3.75 EPS for the current year.

Colgate-Palmolive Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, February 13th. Investors of record on Wednesday, January 21st were given a $0.52 dividend. The ex-dividend date of this dividend was Wednesday, January 21st. This represents a $2.08 annualized dividend and a dividend yield of 2.1%. Colgate-Palmolive’s dividend payout ratio (DPR) is currently 79.39%.

Insider Activity at Colgate-Palmolive

In other news, insider Sally Massey sold 15,851 shares of the company’s stock in a transaction on Thursday, February 5th. The stock was sold at an average price of $95.03, for a total transaction of $1,506,320.53. Following the completion of the sale, the insider directly owned 13,751 shares in the company, valued at $1,306,757.53. This represents a 53.55% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, COO Panagiotis Tsourapas sold 15,000 shares of the stock in a transaction on Thursday, February 12th. The stock was sold at an average price of $97.81, for a total value of $1,467,150.00. Following the completion of the transaction, the chief operating officer directly owned 10,415 shares in the company, valued at $1,018,691.15. This trade represents a 59.02% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold a total of 184,683 shares of company stock valued at $17,486,693 in the last ninety days. 0.34% of the stock is owned by company insiders.

Colgate-Palmolive 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.