Mitsubishi UFJ Asset Management Co. Ltd. Buys 101,823 Shares of Colgate-Palmolive Company $CL

Mitsubishi UFJ Asset Management Co. Ltd. raised its stake in Colgate-Palmolive Company (NYSE:CL) by 5.3% during the second quarter, HoldingsChannel reports. The institutional investor owned 2,025,671 shares of the company’s stock after acquiring an additional 101,823 shares during the period. Mitsubishi UFJ Asset Management Co. Ltd.’s holdings in Colgate-Palmolive were worth $185,714,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently made changes to their positions in the stock. HighPoint Advisor Group LLC lifted its stake in shares of Colgate-Palmolive by 0.7% in the fourth quarter. HighPoint Advisor Group LLC now owns 15,877 shares of the company’s stock worth $1,255,000 after acquiring an additional 109 shares during the period. Clear Harbor Asset Management LLC increased its position in Colgate-Palmolive by 2.6% during the 4th quarter. Clear Harbor Asset Management LLC now owns 4,503 shares of the company’s stock valued at $356,000 after purchasing an additional 113 shares during the period. Cooper Financial Group increased its position in Colgate-Palmolive by 4.0% during the 2nd quarter. Cooper Financial Group now owns 2,947 shares of the company’s stock valued at $270,000 after purchasing an additional 114 shares during the period. Moneta Group Investment Advisors LLC raised its holdings in Colgate-Palmolive by 0.7% during the 4th quarter. Moneta Group Investment Advisors LLC now owns 15,506 shares of the company’s stock worth $1,225,000 after purchasing an additional 114 shares during the last quarter. Finally, Gould Capital LLC raised its holdings in Colgate-Palmolive by 38.7% during the 1st quarter. Gould Capital LLC now owns 412 shares of the company’s stock worth $35,000 after purchasing an additional 115 shares during the last quarter. Institutional investors and hedge funds own 80.41% of the company’s stock.

Colgate-Palmolive Stock Performance

Shares of Colgate-Palmolive stock opened at $90.22 on Tuesday. The business has a 50-day simple moving average of $91.76 and a 200 day simple moving average of $90.05. Colgate-Palmolive Company has a one year low of $74.54 and a one year high of $99.33. The company has a debt-to-equity ratio of 13.82, a current ratio of 1.03 and a quick ratio of 0.67. The firm has a market capitalization of $71.92 billion, a price-to-earnings ratio of 35.80, a PEG ratio of 4.48 and a beta of 0.33.

Colgate-Palmolive (NYSE:CL) last announced its quarterly earnings data on Friday, July 31st. The company reported $0.99 EPS for the quarter, beating analysts’ consensus estimates of $0.95 by $0.04. The firm had revenue of $5.36 billion during the quarter, compared to analysts’ expectations of $5.36 billion. Colgate-Palmolive had a return on equity of 464.63% and a net margin of 9.68%.The company’s revenue for the quarter was up 4.9% compared to the same quarter last year. During the same quarter last year, the firm posted $0.92 earnings per share. On average, research analysts anticipate that Colgate-Palmolive Company will post 3.86 earnings per share for the current fiscal year.

Colgate-Palmolive Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, August 14th. Investors of record on Monday, July 20th were given a $0.53 dividend. The ex-dividend date of this dividend was Monday, July 20th. This represents a $2.12 annualized dividend and a yield of 2.3%. Colgate-Palmolive’s dividend payout ratio (DPR) is presently 84.13%.

Insider Buying and Selling at Colgate-Palmolive

In other Colgate-Palmolive news, CEO Noel R. Wallace sold 161,021 shares of the company’s stock in a transaction on Tuesday, August 4th. The shares were sold at an average price of $91.92, for a total transaction of $14,801,050.32. Following the transaction, the chief executive officer owned 362,231 shares in the company, valued at approximately $33,296,273.52. This represents a 30.77% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, Director John T. Cahill sold 4,170 shares of the firm’s stock in a transaction on Thursday, August 6th. The shares were sold at an average price of $93.37, for a total transaction of $389,352.90. Following the completion of the transaction, the director directly owned 28,373 shares in the company, valued at $2,649,187.01. This trade represents a 12.81% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Company insiders own 0.43% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently commented on the stock. Wells Fargo & Company upped their price objective on shares of Colgate-Palmolive from $92.00 to $95.00 and gave the company an “equal weight” rating in a research note on Wednesday, July 8th. Barclays lifted their target price on shares of Colgate-Palmolive from $80.00 to $87.00 and gave the stock an “equal weight” rating in a research note on Tuesday, July 21st. UBS Group boosted their target price on shares of Colgate-Palmolive from $106.00 to $109.00 and gave the company a “buy” rating in a report on Monday, August 3rd. Piper Sandler upped their price target on shares of Colgate-Palmolive from $92.00 to $96.00 and gave the company an “overweight” rating in a research report on Thursday, July 9th. Finally, Royal Bank Of Canada lifted their price objective on Colgate-Palmolive from $102.00 to $104.00 and gave the stock an “outperform” rating in a research report on Monday, August 3rd. Twelve research analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $99.00.

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.