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

KBC Group NV reduced its stake in shares of Colgate-Palmolive Company (NYSE:CL) by 40.1% in the 1st quarter, Holdings Channel.com reports. The fund owned 301,508 shares of the company’s stock after selling 202,220 shares during the quarter. KBC Group NV’s holdings in Colgate-Palmolive were worth $25,697,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently modified their holdings of the stock. S&CO Inc. acquired a new stake in Colgate-Palmolive during the first quarter valued at approximately $204,000. SEB Asset Management AB acquired a new position in shares of Colgate-Palmolive in the 1st quarter worth approximately $91,149,000. Swiss National Bank increased its holdings in shares of Colgate-Palmolive by 6.8% in the 1st quarter. Swiss National Bank now owns 2,247,400 shares of the company’s stock valued at $191,546,000 after acquiring an additional 143,400 shares during the last quarter. World Equity Group Inc. acquired a new stake in shares of Colgate-Palmolive during the 1st quarter valued at approximately $444,000. Finally, AIA Group Ltd lifted its stake in Colgate-Palmolive by 33.4% during the first quarter. AIA Group Ltd now owns 26,275 shares of the company’s stock worth $2,239,000 after purchasing an additional 6,576 shares during the last quarter. Institutional investors own 80.41% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts have weighed in on the stock. Piper Sandler boosted their target price on shares of Colgate-Palmolive from $92.00 to $96.00 and gave the company an “overweight” rating in a research note on Thursday, July 9th. Morgan Stanley restated an “overweight” rating on shares of Colgate-Palmolive in a research report on Monday, May 4th. Barclays lifted their price target on shares of Colgate-Palmolive from $80.00 to $87.00 and gave the company an “equal weight” rating in a report on Tuesday. Bank of America dropped their price objective on shares of Colgate-Palmolive from $105.00 to $102.00 and set a “buy” rating on the stock in a research note on Friday, April 10th. Finally, Wall Street Zen cut shares of Colgate-Palmolive from a “buy” rating to a “hold” rating in a report on Sunday, March 29th. Twelve equities 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.com, the company has an average rating of “Moderate Buy” and an average target price of $97.82.

Colgate-Palmolive Trading Down 1.6%

Colgate-Palmolive stock opened at $90.48 on Wednesday. Colgate-Palmolive Company has a 52-week low of $74.54 and a 52-week high of $99.33. The company has a quick ratio of 0.67, a current ratio of 1.02 and a debt-to-equity ratio of 16.33. The firm has a market capitalization of $72.40 billion, a price-to-earnings ratio of 35.21, a PEG ratio of 4.84 and a beta of 0.33. The firm has a 50-day moving average price of $90.62 and a two-hundred day moving average price of $88.77.

Colgate-Palmolive (NYSE:CL) last announced its quarterly earnings results on Friday, May 1st. The company reported $0.97 EPS for the quarter, beating the consensus estimate of $0.94 by $0.03. The company had revenue of $5.32 billion for the quarter, compared to analyst estimates of $5.22 billion. Colgate-Palmolive had a net margin of 10.04% and a return on equity of 386.76%. Colgate-Palmolive’s revenue was up 8.4% compared to the same quarter last year. During the same quarter last year, the business earned $0.91 earnings per share. Sell-side analysts expect that Colgate-Palmolive Company will post 3.81 earnings per share for the current year.

Colgate-Palmolive Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, August 14th. Shareholders of record on Monday, July 20th will be paid a dividend of $0.53 per share. The ex-dividend date of this dividend is Monday, July 20th. This represents a $2.12 annualized dividend and a yield of 2.3%. Colgate-Palmolive’s payout ratio is presently 82.49%.

About Colgate-Palmolive

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.