Colgate-Palmolive Company $CL Shares Sold by KBC Group NV

KBC Group NV cut its stake in Colgate-Palmolive Company (NYSE:CL) by 0.4% in the second quarter, HoldingsChannel reports. The firm owned 376,844 shares of the company’s stock after selling 1,342 shares during the quarter. KBC Group NV’s holdings in Colgate-Palmolive were worth $34,255,000 as of its most recent SEC filing.

Other large investors also recently bought and sold shares of the company. Price T Rowe Associates Inc. MD increased its stake 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 during the period. Nuveen LLC purchased a new stake in shares of Colgate-Palmolive in the 1st quarter valued at approximately $217,593,000. Goldman Sachs Group Inc. raised its holdings in shares of Colgate-Palmolive by 34.5% in the 1st quarter. Goldman Sachs Group Inc. now owns 7,980,387 shares of the company’s stock valued at $747,762,000 after purchasing an additional 2,045,191 shares in the last quarter. Acadian Asset Management LLC lifted its position in shares of Colgate-Palmolive by 42.9% during the 2nd quarter. Acadian Asset Management LLC now owns 6,124,347 shares of the company’s stock worth $556,663,000 after purchasing an additional 1,839,853 shares during the last quarter. Finally, Diamond Hill Capital Management Inc. grew its stake in shares of Colgate-Palmolive by 45.0% during the first quarter. Diamond Hill Capital Management Inc. now owns 5,562,968 shares of the company’s stock worth $521,250,000 after purchasing an additional 1,727,105 shares in the last quarter. Hedge funds and other institutional investors own 80.41% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts have issued reports on CL shares. Barclays decreased their price target on Colgate-Palmolive from $82.00 to $80.00 and set an “equal weight” rating for the company in a report on Tuesday, November 4th. Bank of America decreased their target price on Colgate-Palmolive from $98.00 to $88.00 and set a “buy” rating for the company in a research note on Wednesday, October 8th. Piper Sandler began coverage on shares of Colgate-Palmolive in a research note on Friday, October 3rd. They issued a “neutral” rating and a $84.00 price target on the stock. Wells Fargo & Company cut their price objective on shares of Colgate-Palmolive from $80.00 to $77.00 and set an “underweight” rating on the stock in a report on Monday, November 3rd. Finally, Evercore ISI lowered their target price on shares of Colgate-Palmolive from $100.00 to $94.00 and set an “outperform” rating for the company in a report on Monday, November 3rd. Nine analysts have rated the stock with a Buy rating, five have issued a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $89.87.

Colgate-Palmolive Stock Performance

Shares of CL opened at $78.57 on Thursday. The company has a market capitalization of $63.33 billion, a PE ratio of 22.07, a P/E/G ratio of 4.44 and a beta of 0.35. Colgate-Palmolive Company has a 52-week low of $74.54 and a 52-week high of $100.18. The company has a 50-day simple moving average of $79.42 and a 200-day simple moving average of $85.39. The company has a quick ratio of 0.57, a current ratio of 0.89 and a debt-to-equity ratio of 6.79.

Colgate-Palmolive (NYSE:CL) last released its quarterly earnings data on Friday, October 31st. The company reported $0.91 EPS for the quarter, topping the consensus estimate of $0.89 by $0.02. The business had revenue of $5.13 billion for 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 business’s revenue for the quarter was up 1.9% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.91 EPS. Equities research analysts predict that Colgate-Palmolive Company will post 3.75 earnings per share for the current fiscal year.

Colgate-Palmolive Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, November 14th. Stockholders of record on Friday, October 17th will be given a $0.52 dividend. The ex-dividend date of this dividend is Friday, October 17th. This represents a $2.08 dividend on an annualized basis and a dividend yield of 2.6%. Colgate-Palmolive’s payout ratio is currently 58.26%.

Colgate-Palmolive 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.