Prudential Financial Inc. Sells 220,152 Shares of Colgate-Palmolive Company $CL

Prudential Financial Inc. lowered its position in Colgate-Palmolive Company (NYSE:CL) by 15.0% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 1,248,101 shares of the company’s stock after selling 220,152 shares during the quarter. Prudential Financial Inc. owned 0.15% of Colgate-Palmolive worth $113,452,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also bought and sold shares of CL. Westside Investment Management Inc. raised its holdings in Colgate-Palmolive by 85.5% during the 2nd quarter. Westside Investment Management Inc. now owns 282 shares of the company’s stock worth $26,000 after purchasing an additional 130 shares during the last quarter. Saudi Central Bank bought a new position in shares of Colgate-Palmolive during the 1st quarter worth about $29,000. Ransom Advisory Ltd acquired a new stake in Colgate-Palmolive in the first quarter valued at approximately $33,000. Y.D. More Investments Ltd acquired a new stake in Colgate-Palmolive in the 1st quarter valued at $37,000. Finally, MTM Investment Management LLC bought a new stake in shares of Colgate-Palmolive during the second quarter worth about $39,000. 80.41% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on CL shares. JPMorgan Chase & Co. cut their price objective on shares of Colgate-Palmolive from $88.00 to $87.00 and set an “overweight” rating on the stock in a report on Monday, November 3rd. Piper Sandler assumed coverage on Colgate-Palmolive in a research note on Friday, October 3rd. They issued a “neutral” rating and a $84.00 target price on the stock. Citigroup dropped their price target on shares of Colgate-Palmolive from $105.00 to $95.00 and set a “buy” rating on the stock in a research note on Monday, November 3rd. Raymond James Financial reduced their price objective on shares of Colgate-Palmolive from $105.00 to $95.00 and set an “outperform” rating for the company in a research note on Monday, October 20th. Finally, Evercore ISI lowered their target price on shares of Colgate-Palmolive from $100.00 to $94.00 and set an “outperform” rating on the stock in a report on Monday, November 3rd. Nine research analysts have rated the stock with a Buy rating, five have given a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $89.87.

Colgate-Palmolive Price Performance

Shares of Colgate-Palmolive stock opened at $80.97 on Monday. The company has a debt-to-equity ratio of 6.79, a current ratio of 0.89 and a quick ratio of 0.57. Colgate-Palmolive Company has a one year low of $74.54 and a one year high of $100.18. The business’s 50 day simple moving average is $78.73 and its two-hundred day simple moving average is $84.75. The stock has a market capitalization of $65.27 billion, a P/E ratio of 22.74, a price-to-earnings-growth ratio of 4.44 and a beta of 0.35.

Colgate-Palmolive (NYSE:CL) last issued its earnings results on Friday, October 31st. The company reported $0.91 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.89 by $0.02. Colgate-Palmolive had a net margin of 14.55% and a return on equity of 377.63%. The firm had revenue of $5.13 billion for the quarter, compared to analysts’ expectations of $5.17 billion. During the same quarter last year, the business earned $0.91 earnings per share. The business’s revenue was up 1.9% on a year-over-year basis. Analysts forecast that Colgate-Palmolive Company will post 3.75 EPS for the current year.

Colgate-Palmolive Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, November 14th. Shareholders of record on Friday, October 17th were given a dividend of $0.52 per share. The ex-dividend date of this dividend was Friday, October 17th. This represents a $2.08 annualized dividend and a yield of 2.6%. Colgate-Palmolive’s dividend payout ratio (DPR) is currently 58.26%.

About Colgate-Palmolive

Colgate-Palmolive Company, together with its subsidiaries, manufactures and sells consumer products in the United States and internationally. It operates through two segments: Oral, Personal and Home Care; and Pet Nutrition. The Oral, Personal and Home Care segment offers toothpaste, toothbrushes, mouthwash, bar and liquid hand soaps, shower gels, shampoos, conditioners, deodorants and antiperspirants, skin health products, dishwashing detergents, fabric conditioners, household cleaners, and other related items.