Madison Asset Management LLC Sells 11,872 Shares of Colgate-Palmolive Company $CL

Madison Asset Management LLC trimmed its stake in Colgate-Palmolive Company (NYSE:CL) by 13.9% during the third quarter, Holdings Channel reports. The fund owned 73,635 shares of the company’s stock after selling 11,872 shares during the quarter. Madison Asset Management LLC’s holdings in Colgate-Palmolive were worth $5,886,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Vanguard Group Inc. boosted its stake in Colgate-Palmolive by 1.2% during the 2nd quarter. Vanguard Group Inc. now owns 82,751,689 shares of the company’s stock valued at $7,522,129,000 after purchasing an additional 993,432 shares during the period. Norges Bank bought a new stake in shares of Colgate-Palmolive in the second quarter valued at approximately $960,390,000. Diamond Hill Capital Management Inc. grew its stake in shares of 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 worth $645,719,000 after acquiring an additional 2,572,796 shares during the last quarter. Invesco Ltd. raised its stake in Colgate-Palmolive by 9.1% during the 2nd quarter. Invesco Ltd. now owns 7,489,050 shares of the company’s stock valued at $680,755,000 after purchasing an additional 621,841 shares during the last quarter. Finally, Acadian Asset Management LLC boosted its holdings in Colgate-Palmolive by 42.9% in the 2nd quarter. Acadian Asset Management LLC now owns 6,124,347 shares of the company’s stock valued at $556,663,000 after purchasing an additional 1,839,853 shares during the period. Institutional investors and hedge funds own 80.41% of the company’s stock.

Analyst Ratings Changes

A number of brokerages have commented on CL. JPMorgan Chase & Co. raised their price objective on Colgate-Palmolive from $93.00 to $97.00 and gave the stock an “overweight” rating in a research report on Monday, February 2nd. Citigroup increased their price objective on shares of Colgate-Palmolive from $95.00 to $105.00 and gave the company a “buy” rating in a research note on Monday, February 2nd. Piper Sandler lifted their target price on shares of Colgate-Palmolive from $88.00 to $96.00 and gave the company an “overweight” rating in a research report on Friday, January 30th. Raymond James Financial dropped their price target on shares of Colgate-Palmolive from $105.00 to $95.00 and set an “outperform” rating for the company in a research report on Monday, October 20th. Finally, Argus reiterated a “hold” rating on shares of Colgate-Palmolive in a research note on Thursday, December 11th. Eleven investment analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, Colgate-Palmolive presently has a consensus rating of “Moderate Buy” and a consensus target price of $94.47.

Colgate-Palmolive Trading Up 1.5%

Shares of NYSE:CL opened at $95.36 on Thursday. The company’s 50-day moving average price is $83.06 and its two-hundred day moving average price is $81.73. Colgate-Palmolive Company has a one year low of $74.54 and a one year high of $100.18. The company has a debt-to-equity ratio of 5.90, a current ratio of 0.42 and a quick ratio of 0.27. The stock has a market capitalization of $76.87 billion, a PE ratio of 36.40, a price-to-earnings-growth ratio of 4.24 and a beta of 0.29.

Colgate-Palmolive (NYSE:CL) last released its quarterly earnings results on Friday, January 30th. The company reported $0.95 earnings per share for the quarter, beating the consensus estimate of $0.91 by $0.04. Colgate-Palmolive had a net margin of 10.45% and a return on equity of 353.72%. The firm had revenue of $5.23 billion for the quarter, compared to analysts’ expectations of $5.13 billion. During the same period in the prior year, the firm earned $0.91 EPS. The business’s revenue was up 5.8% on a year-over-year basis. On average, equities analysts forecast that Colgate-Palmolive Company will post 3.75 EPS for the current fiscal year.

Colgate-Palmolive Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, February 13th. Stockholders of record on Wednesday, January 21st will be paid a $0.52 dividend. The ex-dividend date is Wednesday, January 21st. This represents a $2.08 annualized dividend and a dividend yield of 2.2%. Colgate-Palmolive’s payout ratio is currently 79.39%.

Insider Activity at Colgate-Palmolive

In other Colgate-Palmolive news, CFO Stanley J. Sutula III sold 97,843 shares of the firm’s stock in a transaction on Wednesday, February 4th. The stock was sold at an average price of $94.27, for a total value of $9,223,659.61. Following the completion of the sale, the chief financial officer directly owned 55,310 shares of the company’s stock, valued at $5,214,073.70. This trade represents a 63.89% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, insider Sally Massey sold 15,851 shares of Colgate-Palmolive stock in a transaction that occurred on Thursday, February 5th. The shares were sold at an average price of $95.03, for a total transaction 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. This represents a 53.55% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders own 0.34% of the company’s stock.

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.