TIAA Trust National Association Sells 4,569 Shares of Colgate-Palmolive Company $CL

TIAA Trust National Association cut its position in Colgate-Palmolive Company (NYSE:CL) by 6.6% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 64,705 shares of the company’s stock after selling 4,569 shares during the quarter. TIAA Trust National Association’s holdings in Colgate-Palmolive were worth $5,881,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently made changes to their positions in the company. Personal CFO Solutions LLC bought a new position in Colgate-Palmolive in the first quarter worth approximately $285,000. Vision Capital Management Inc. acquired a new position in shares of Colgate-Palmolive during the first quarter worth approximately $322,000. Financial Gravity Asset Management Inc. bought a new position in shares of Colgate-Palmolive in the 1st quarter worth $2,166,000. Cidel Asset Management Inc. lifted its holdings in shares of Colgate-Palmolive by 13.6% in the 2nd quarter. Cidel Asset Management Inc. now owns 329,060 shares of the company’s stock worth $29,912,000 after purchasing an additional 39,413 shares in the last quarter. Finally, Penserra Capital Management LLC grew its position in Colgate-Palmolive by 398.6% in the 1st quarter. Penserra Capital Management LLC now owns 10,651 shares of the company’s stock valued at $997,000 after purchasing an additional 8,515 shares during the period. 80.41% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of research analysts have recently issued reports on the stock. Morgan Stanley reduced their price objective on shares of Colgate-Palmolive from $104.00 to $96.00 and set an “overweight” rating for the company in a report on Monday, August 4th. Bank of America dropped their price target on shares of Colgate-Palmolive from $98.00 to $88.00 and set a “buy” rating on the stock in a research report on Wednesday, October 8th. Deutsche Bank Aktiengesellschaft set a $86.00 price objective on Colgate-Palmolive in a report on Friday, October 10th. UBS Group lowered their price objective on Colgate-Palmolive from $99.00 to $92.00 and set a “buy” rating for the company in a research note on Wednesday, October 8th. Finally, Piper Sandler started coverage on Colgate-Palmolive in a research report on Friday, October 3rd. They set a “neutral” rating and a $84.00 target price on the stock. Eight equities research analysts have rated the stock with a Buy rating, five have issued a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, Colgate-Palmolive has a consensus rating of “Moderate Buy” and a consensus price target of $91.50.

Colgate-Palmolive Price Performance

Shares of NYSE CL opened at $77.10 on Monday. The company has a current ratio of 0.89, a quick ratio of 0.57 and a debt-to-equity ratio of 6.79. The stock has a fifty day simple moving average of $80.45 and a two-hundred day simple moving average of $86.28. Colgate-Palmolive Company has a 1-year low of $74.62 and a 1-year high of $100.18. The firm has a market cap of $62.32 billion, a price-to-earnings ratio of 21.66, a price-to-earnings-growth ratio of 4.44 and a beta of 0.34.

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

Colgate-Palmolive Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, November 14th. Investors of record on Friday, October 17th will be paid a dividend of $0.52 per share. The ex-dividend date of this dividend is Friday, October 17th. This represents a $2.08 annualized dividend and a yield of 2.7%. Colgate-Palmolive’s dividend payout ratio (DPR) is currently 58.26%.

Colgate-Palmolive Company Profile

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.