M&G PLC Has $3.64 Million Position in Colgate-Palmolive Company $CL

M&G PLC trimmed its position in Colgate-Palmolive Company (NYSE:CL) by 28.8% during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 40,005 shares of the company’s stock after selling 16,185 shares during the quarter. M&G PLC’s holdings in Colgate-Palmolive were worth $3,640,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently modified their holdings of CL. Forsta AP Fonden increased its position in Colgate-Palmolive by 25.9% during the second quarter. Forsta AP Fonden now owns 311,700 shares of the company’s stock worth $28,334,000 after acquiring an additional 64,100 shares during the period. Mitsubishi UFJ Trust & Banking Corp grew its position in shares of Colgate-Palmolive by 11.4% during the 2nd quarter. Mitsubishi UFJ Trust & Banking Corp now owns 1,061,126 shares of the company’s stock worth $96,456,000 after purchasing an additional 108,379 shares in the last quarter. SBI Securities Co. Ltd. grew its position in shares of Colgate-Palmolive by 5.8% during the 2nd quarter. SBI Securities Co. Ltd. now owns 3,366 shares of the company’s stock worth $306,000 after purchasing an additional 185 shares in the last quarter. National Pension Service increased its holdings in shares of Colgate-Palmolive by 3.3% during the second quarter. National Pension Service now owns 2,039,053 shares of the company’s stock worth $185,350,000 after purchasing an additional 64,990 shares during the period. Finally, Advyzon Investment Management LLC raised its position in shares of Colgate-Palmolive by 12.1% in the second quarter. Advyzon Investment Management LLC now owns 3,375 shares of the company’s stock valued at $307,000 after buying an additional 364 shares in the last quarter. Institutional investors and hedge funds own 80.41% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts have commented on the company. Piper Sandler initiated coverage on Colgate-Palmolive in a research note on Friday, October 3rd. They set a “neutral” rating and a $84.00 price objective on the stock. UBS Group reduced their target price on Colgate-Palmolive from $92.00 to $90.00 and set a “buy” rating on the stock in a report on Monday, November 3rd. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Colgate-Palmolive in a research note on Wednesday, October 8th. Citigroup reduced their price objective 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. Finally, Wells Fargo & Company decreased their target price 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. Nine analysts have rated the stock with a Buy rating, five have given a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $89.87.

Colgate-Palmolive Stock Performance

NYSE:CL opened at $78.71 on Friday. Colgate-Palmolive Company has a twelve month low of $74.54 and a twelve month high of $100.18. The company has a quick ratio of 0.57, a current ratio of 0.89 and a debt-to-equity ratio of 6.79. The stock’s 50-day simple moving average is $79.32 and its 200 day simple moving average is $85.35. The firm has a market capitalization of $63.45 billion, a PE ratio of 22.11, a price-to-earnings-growth ratio of 4.44 and a beta of 0.35.

Colgate-Palmolive (NYSE:CL) last posted its earnings results on Friday, October 31st. The company reported $0.91 EPS for the quarter, topping analysts’ consensus estimates 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 during the quarter, compared to analysts’ expectations of $5.17 billion. During the same quarter in the prior year, the business earned $0.91 earnings per share. The business’s revenue for the quarter was up 1.9% compared to the same quarter last year. On average, analysts anticipate that Colgate-Palmolive Company will post 3.75 EPS for the current fiscal year.

Colgate-Palmolive Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, November 14th. Shareholders of record on Friday, October 17th will be given a $0.52 dividend. The ex-dividend date is Friday, October 17th. This represents a $2.08 dividend on an annualized basis and a yield of 2.6%. Colgate-Palmolive’s dividend payout ratio (DPR) 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.