Securian Asset Management Inc. Sells 647 Shares of Colgate-Palmolive Company $CL

Securian Asset Management Inc. cut its position in shares of Colgate-Palmolive Company (NYSE:CL) by 1.5% in the second quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 42,340 shares of the company’s stock after selling 647 shares during the quarter. Securian Asset Management Inc.’s holdings in Colgate-Palmolive were worth $3,849,000 as of its most recent SEC filing.

A number of other hedge funds have also modified their holdings of the company. Vanguard Group Inc. grew its holdings in shares of Colgate-Palmolive by 0.6% during the first quarter. Vanguard Group Inc. now owns 81,758,257 shares of the company’s stock worth $7,660,749,000 after buying an additional 455,198 shares in the last quarter. Price T Rowe Associates Inc. MD grew its holdings in shares of Colgate-Palmolive by 18.3% during the first quarter. Price T Rowe Associates Inc. MD now owns 34,009,078 shares of the company’s stock worth $3,186,651,000 after buying an additional 5,269,140 shares in the last quarter. Goldman Sachs Group Inc. grew its holdings in shares of Colgate-Palmolive by 34.5% during the first quarter. Goldman Sachs Group Inc. now owns 7,980,387 shares of the company’s stock worth $747,762,000 after buying an additional 2,045,191 shares in the last quarter. Deutsche Bank AG grew its holdings in shares of Colgate-Palmolive by 3.7% during the first quarter. Deutsche Bank AG now owns 7,176,598 shares of the company’s stock worth $672,447,000 after buying an additional 253,604 shares in the last quarter. Finally, Ameriprise Financial Inc. grew its holdings in shares of Colgate-Palmolive by 2.6% during the first quarter. Ameriprise Financial Inc. now owns 6,976,654 shares of the company’s stock worth $653,761,000 after buying an additional 177,833 shares in the last quarter. 80.41% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of research firms have weighed in on CL. JPMorgan Chase & Co. decreased their price target on Colgate-Palmolive from $95.00 to $88.00 and set an “overweight” rating for the company in a research note on Friday, October 10th. Piper Sandler began coverage on Colgate-Palmolive in a research note on Friday, October 3rd. They issued a “neutral” rating and a $84.00 price target for the company. Barclays decreased their price target on Colgate-Palmolive from $87.00 to $82.00 and set an “equal weight” rating for the company in a research note on Wednesday, October 1st. Citigroup decreased their price target on Colgate-Palmolive from $108.00 to $105.00 and set a “buy” rating for the company in a research note on Monday, August 4th. Finally, The Goldman Sachs Group decreased their price target on Colgate-Palmolive from $106.00 to $91.00 and set a “buy” rating for the company in a research note on Thursday, October 2nd. Eight analysts have rated the stock with a Buy rating, five have issued a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $91.50.

Colgate-Palmolive Price Performance

Shares of CL opened at $78.60 on Wednesday. The firm has a market capitalization of $63.52 billion, a PE ratio of 22.08, a PEG ratio of 4.62 and a beta of 0.34. The company’s 50-day moving average is $81.72 and its 200-day moving average is $87.13. Colgate-Palmolive Company has a fifty-two week low of $76.68 and a fifty-two week high of $100.18. 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 (NYSE:CL) last issued its quarterly earnings data on Friday, August 1st. The company reported $0.92 earnings per share for the quarter, beating the consensus estimate of $0.89 by $0.03. The company had revenue of $5.11 billion for the quarter, compared to analyst estimates of $5.03 billion. Colgate-Palmolive had a net margin of 14.55% and a return on equity of 377.63%. The company’s revenue was up 1.0% on a year-over-year basis. During the same period in the prior year, the firm earned $0.91 earnings per share. Equities analysts forecast that Colgate-Palmolive Company will post 3.75 EPS for the current year.

Colgate-Palmolive Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, November 14th. Shareholders of record on Friday, October 17th will be issued a $0.52 dividend. The ex-dividend date of this dividend is Friday, October 17th. This represents a $2.08 annualized dividend and a yield of 2.6%. Colgate-Palmolive’s payout ratio is currently 58.43%.

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.