Vinva Investment Management Ltd Increases Stock Holdings in Colgate-Palmolive Company $CL

Vinva Investment Management Ltd grew its stake in shares of Colgate-Palmolive Company (NYSE:CL) by 27.4% during the third quarter, Holdings Channel reports. The firm owned 114,565 shares of the company’s stock after purchasing an additional 24,647 shares during the period. Vinva Investment Management Ltd’s holdings in Colgate-Palmolive were worth $9,211,000 as of its most recent SEC filing.

Several other institutional investors have also modified their holdings of the stock. Vanguard Group Inc. grew its position in shares of Colgate-Palmolive by 1.2% in the 2nd quarter. Vanguard Group Inc. now owns 82,751,689 shares of the company’s stock valued at $7,522,129,000 after buying an additional 993,432 shares during the last quarter. Norges Bank purchased a new stake in Colgate-Palmolive in the second quarter valued at $960,390,000. Diamond Hill Capital Management Inc. lifted its position in Colgate-Palmolive by 46.7% in the third quarter. Diamond Hill Capital Management Inc. now owns 8,077,549 shares of the company’s stock valued at $645,719,000 after acquiring an additional 2,572,796 shares during the last quarter. Invesco Ltd. boosted its stake in Colgate-Palmolive by 9.1% in the second quarter. Invesco Ltd. now owns 7,489,050 shares of the company’s stock valued at $680,755,000 after acquiring an additional 621,841 shares in the last quarter. Finally, Acadian Asset Management LLC grew its holdings in shares of Colgate-Palmolive by 42.9% during the second 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. Hedge funds and other institutional investors own 80.41% of the company’s stock.

Colgate-Palmolive Stock Up 0.9%

CL stock opened at $93.55 on Monday. The stock has a market capitalization of $75.41 billion, a PE ratio of 35.71, a price-to-earnings-growth ratio of 4.22 and a beta of 0.28. The company has a fifty day moving average of $88.98 and a 200-day moving average of $83.03. The company has a debt-to-equity ratio of 18.82, a quick ratio of 0.54 and a current ratio of 0.83. Colgate-Palmolive Company has a one year low of $74.54 and a one year high of $100.18.

Colgate-Palmolive (NYSE:CL) last issued its quarterly earnings results on Friday, January 30th. The company reported $0.95 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.91 by $0.04. The business had revenue of $5.23 billion for the quarter, compared to analyst estimates of $5.13 billion. Colgate-Palmolive had a net margin of 10.45% and a return on equity of 353.72%. The business’s revenue was up 5.8% compared to the same quarter last year. During the same period in the previous year, the business posted $0.91 earnings per share. As a group, analysts expect that Colgate-Palmolive Company will post 3.75 EPS for the current year.

Colgate-Palmolive Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, February 13th. Shareholders of record on Wednesday, January 21st were given a dividend of $0.52 per share. The ex-dividend date was Wednesday, January 21st. This represents a $2.08 annualized dividend and a yield of 2.2%. Colgate-Palmolive’s payout ratio is presently 79.39%.

Insiders Place Their Bets

In related news, insider John Hazlin sold 20,989 shares of Colgate-Palmolive stock in a transaction that occurred on Tuesday, February 10th. The stock was sold at an average price of $94.25, for a total value of $1,978,213.25. Following the sale, the insider directly owned 17,645 shares in the company, valued at $1,663,041.25. The trade was a 54.33% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, insider Sally Massey sold 15,851 shares of the stock in a transaction on Thursday, February 5th. The stock was sold at an average price of $95.03, for a total value of $1,506,320.53. Following the completion of the transaction, the insider owned 13,751 shares of the company’s stock, valued at $1,306,757.53. The trade was a 53.55% decrease in their position. The SEC filing for this sale provides additional information. In the last quarter, insiders sold 184,683 shares of company stock valued at $17,486,693. Corporate insiders own 0.41% of the company’s stock.

Analysts Set New Price Targets

Several research firms have recently weighed in on CL. Barclays boosted their target price on Colgate-Palmolive from $83.00 to $88.00 and gave the company an “equal weight” rating in a report on Tuesday, February 3rd. Piper Sandler raised their price target on Colgate-Palmolive from $88.00 to $96.00 and gave the stock an “overweight” rating in a research note on Friday, January 30th. Morgan Stanley lifted their price target on Colgate-Palmolive from $87.00 to $100.00 and gave the stock an “overweight” rating in a research report on Monday, February 2nd. The Goldman Sachs Group reissued a “buy” rating and issued a $100.00 price objective on shares of Colgate-Palmolive in a report on Friday, February 20th. Finally, Argus restated a “hold” rating on shares of Colgate-Palmolive in a research report on Thursday, December 11th. Eleven analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $94.75.

Colgate-Palmolive 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.