Generali Asset Management SPA SGR Raises Stake in Colgate-Palmolive Company $CL

Generali Asset Management SPA SGR lifted its holdings in Colgate-Palmolive Company (NYSE:CL) by 13.8% in the fourth quarter, according to the company in its most recent filing with the SEC. The fund owned 86,282 shares of the company’s stock after acquiring an additional 10,447 shares during the quarter. Generali Asset Management SPA SGR’s holdings in Colgate-Palmolive were worth $6,818,000 at the end of the most recent quarter.

A number of other institutional investors also recently made changes to their positions in the business. ProShare Advisors LLC grew its holdings in shares of Colgate-Palmolive by 11.0% in the third quarter. ProShare Advisors LLC now owns 2,047,542 shares of the company’s stock worth $163,681,000 after purchasing an additional 202,379 shares during the last quarter. Providence Capital Advisors LLC bought a new stake in Colgate-Palmolive during the 3rd quarter valued at $5,373,000. Citigroup Inc. boosted its position in Colgate-Palmolive by 43.7% during the 3rd quarter. Citigroup Inc. now owns 1,346,590 shares of the company’s stock valued at $107,646,000 after buying an additional 409,710 shares during the period. Envestnet Asset Management Inc. grew its holdings in Colgate-Palmolive by 18.0% in the 3rd quarter. Envestnet Asset Management Inc. now owns 800,554 shares of the company’s stock worth $63,996,000 after acquiring an additional 122,202 shares during the last quarter. Finally, TD Waterhouse Canada Inc. increased its position in shares of Colgate-Palmolive by 248.5% in the third quarter. TD Waterhouse Canada Inc. now owns 87,410 shares of the company’s stock valued at $6,909,000 after acquiring an additional 62,327 shares during the period. Hedge funds and other institutional investors own 80.41% of the company’s stock.

Colgate-Palmolive Stock Performance

Colgate-Palmolive stock opened at $87.53 on Friday. Colgate-Palmolive Company has a fifty-two week low of $74.54 and a fifty-two week high of $99.33. The stock’s 50 day simple moving average is $87.38 and its two-hundred day simple moving average is $84.34. The company has a debt-to-equity ratio of 16.33, a quick ratio of 0.29 and a current ratio of 1.02. The stock has a market cap of $70.22 billion, a price-to-earnings ratio of 34.06, a PEG ratio of 4.53 and a beta of 0.31.

Colgate-Palmolive (NYSE:CL) last announced its earnings results on Friday, May 1st. The company reported $0.97 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.94 by $0.03. The firm had revenue of $5.32 billion during the quarter, compared to analyst estimates of $5.22 billion. Colgate-Palmolive had a return on equity of 386.76% and a net margin of 10.04%.The business’s revenue was up 8.4% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.91 EPS. As a group, analysts expect that Colgate-Palmolive Company will post 3.83 earnings per share for the current fiscal year.

Colgate-Palmolive Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, May 15th. Shareholders of record on Monday, April 20th will be issued a $0.53 dividend. This represents a $2.12 dividend on an annualized basis and a yield of 2.4%. This is a positive change from Colgate-Palmolive’s previous quarterly dividend of $0.52. The ex-dividend date is Monday, April 20th. Colgate-Palmolive’s dividend payout ratio is currently 82.49%.

Analysts Set New Price Targets

A number of analysts have recently weighed in on the stock. Deutsche Bank Aktiengesellschaft reiterated a “buy” rating and set a $99.00 target price on shares of Colgate-Palmolive in a report on Monday. JPMorgan Chase & Co. upped their price target on Colgate-Palmolive from $95.00 to $96.00 and gave the company an “overweight” rating in a research report on Monday, May 4th. UBS Group increased their price objective on Colgate-Palmolive from $98.00 to $100.00 and gave the stock a “buy” rating in a report on Monday. Royal Bank Of Canada reiterated an “outperform” rating and issued a $102.00 price objective on shares of Colgate-Palmolive in a research report on Monday, May 4th. Finally, Piper Sandler reduced their target price on Colgate-Palmolive from $96.00 to $92.00 and set an “overweight” rating on the stock in a research note on Wednesday, April 8th. Twelve analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, Colgate-Palmolive presently has a consensus rating of “Moderate Buy” and an average target price of $95.88.

Insider Buying and Selling at Colgate-Palmolive

In related news, COO Panagiotis Tsourapas sold 35,000 shares of Colgate-Palmolive stock in a transaction dated Wednesday, February 11th. The shares were sold at an average price of $94.61, for a total transaction of $3,311,350.00. Following the completion of the transaction, the chief operating officer directly owned 10,415 shares of the company’s stock, valued at $985,363.15. This trade represents a 77.07% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, insider John Hazlin sold 20,989 shares of the business’s stock in a transaction dated Tuesday, February 10th. The stock was sold at an average price of $94.25, for a total transaction of $1,978,213.25. Following the sale, the insider directly owned 17,645 shares in the company, valued at $1,663,041.25. The trade was a 54.33% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold 70,989 shares of company stock valued at $6,756,713 in the last three months. Insiders own 0.43% of the company’s stock.

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.