OVERSEA CHINESE BANKING Corp Ltd Sells 6,785 Shares of Colgate-Palmolive Company $CL

OVERSEA CHINESE BANKING Corp Ltd lessened its holdings in Colgate-Palmolive Company (NYSE:CL) by 49.1% during the third quarter, according to the company in its most recent disclosure with the SEC. The firm owned 7,028 shares of the company’s stock after selling 6,785 shares during the quarter. OVERSEA CHINESE BANKING Corp Ltd’s holdings in Colgate-Palmolive were worth $562,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also made changes to their positions in the business. Westside Investment Management Inc. boosted its position in shares of Colgate-Palmolive by 85.5% in 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 in the last quarter. Vermillion & White Wealth Management Group LLC raised its stake in Colgate-Palmolive by 86.1% during the second quarter. Vermillion & White Wealth Management Group LLC now owns 335 shares of the company’s stock valued at $30,000 after buying an additional 155 shares during the last quarter. MTM Investment Management LLC bought a new stake in Colgate-Palmolive in the second quarter worth $39,000. Louisbourg Investments Inc. grew its stake in shares of Colgate-Palmolive by 94.7% in the third quarter. Louisbourg Investments Inc. now owns 514 shares of the company’s stock worth $41,000 after acquiring an additional 250 shares during the last quarter. Finally, Atticus Wealth Management LLC increased its holdings in shares of Colgate-Palmolive by 156.8% during the second quarter. Atticus Wealth Management LLC now owns 488 shares of the company’s stock valued at $44,000 after acquiring an additional 298 shares in the last quarter. Institutional investors own 80.41% of the company’s stock.

Analyst Ratings Changes

A number of brokerages recently issued reports on CL. Royal Bank Of Canada upgraded shares of Colgate-Palmolive from a “sector perform” rating to an “outperform” rating and set a $88.00 price target on the stock in a research note on Tuesday, December 9th. Deutsche Bank Aktiengesellschaft set a $86.00 target price on shares of Colgate-Palmolive in a research note on Friday, October 10th. Bank of America reduced their price target on shares of Colgate-Palmolive from $98.00 to $88.00 and set a “buy” rating for the company in a research report on Wednesday, October 8th. Argus reaffirmed a “hold” rating on shares of Colgate-Palmolive in a research report on Thursday, December 11th. Finally, Piper Sandler set a $88.00 target price on Colgate-Palmolive and gave the stock an “overweight” rating in a report on Tuesday, January 6th. Eleven equities research analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $88.94.

Colgate-Palmolive Trading Down 0.3%

Shares of CL stock opened at $84.32 on Friday. The company has a current ratio of 0.93, a quick ratio of 0.60 and a debt-to-equity ratio of 5.90. Colgate-Palmolive Company has a 12-month low of $74.54 and a 12-month high of $100.18. The stock has a market capitalization of $67.97 billion, a P/E ratio of 23.62, a P/E/G ratio of 5.73 and a beta of 0.30. The firm’s 50 day moving average is $79.28 and its 200 day moving average is $81.86.

Colgate-Palmolive (NYSE:CL) last released its quarterly earnings results on Friday, October 31st. The company reported $0.91 earnings per share for the quarter, beating the consensus estimate of $0.89 by $0.02. Colgate-Palmolive had a return on equity of 333.39% and a net margin of 14.47%.The firm had revenue of $5.13 billion for the quarter, compared to analysts’ expectations of $5.17 billion. During the same period in the prior year, the firm earned $0.91 EPS. The company’s revenue was up 1.9% compared to the same quarter last year. Research analysts expect that Colgate-Palmolive Company will post 3.75 earnings per share for the current year.

Colgate-Palmolive Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, February 13th. Shareholders of record on Wednesday, January 21st will be paid a dividend of $0.52 per share. This represents a $2.08 dividend on an annualized basis and a dividend yield of 2.5%. The ex-dividend date is Wednesday, January 21st. Colgate-Palmolive’s payout ratio is currently 58.26%.

Colgate-Palmolive Company Profile

Colgate-Palmolive Company is a global consumer products company with a long history in household and personal care categories. The business traces its roots to the early 19th century and has evolved into a multinational manufacturer and marketer of everyday consumer goods focused on health, hygiene and home care.

The company’s core activities center on oral care, personal care, home care and pet nutrition. Its product portfolio includes toothpaste, toothbrushes and mouthwash in oral care; soaps, body washes and deodorants in personal care; dishwashing liquids, surface cleaners and other household products in home care; and scientifically formulated pet foods under its pet nutrition business.