41,185 Shares in Colgate-Palmolive Company $CL Purchased by DoubleLine ETF Adviser LP

DoubleLine ETF Adviser LP bought a new stake in Colgate-Palmolive Company (NYSE:CL) during the third quarter, Holdings Channel.com reports. The fund bought 41,185 shares of the company’s stock, valued at approximately $3,292,000.

Several other institutional investors also recently added to or reduced their stakes in the business. ProShare Advisors LLC increased its position in Colgate-Palmolive by 11.0% during the third quarter. ProShare Advisors LLC now owns 2,047,542 shares of the company’s stock worth $163,681,000 after acquiring an additional 202,379 shares during the period. Providence Capital Advisors LLC bought a new stake in shares of Colgate-Palmolive in the third quarter valued at about $5,373,000. Asset Management One Co. Ltd. grew its position in Colgate-Palmolive by 3.9% during the third quarter. Asset Management One Co. Ltd. now owns 422,292 shares of the company’s stock worth $33,758,000 after buying an additional 16,017 shares in the last quarter. Citigroup Inc. increased its stake in Colgate-Palmolive by 43.7% during the third quarter. Citigroup Inc. now owns 1,346,590 shares of the company’s stock valued at $107,646,000 after acquiring an additional 409,710 shares during the period. Finally, Vanguard Group Inc. raised its holdings in 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 acquiring an additional 993,432 shares in the last quarter. 80.41% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several analysts have recently weighed in on the company. Argus reissued a “hold” rating on shares of Colgate-Palmolive in a report on Thursday, December 11th. The Goldman Sachs Group reaffirmed a “buy” rating and set a $100.00 price objective on shares of Colgate-Palmolive in a report on Friday, February 20th. Morgan Stanley increased their price target on shares of Colgate-Palmolive from $87.00 to $100.00 and gave the stock an “overweight” rating in a research report on Monday, February 2nd. Piper Sandler increased their target price on Colgate-Palmolive from $88.00 to $96.00 and gave the stock an “overweight” rating in a report on Friday, January 30th. Finally, Royal Bank Of Canada raised 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. Eleven investment analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the stock. According to data from MarketBeat.com, Colgate-Palmolive presently has an average rating of “Moderate Buy” and a consensus target price of $94.75.

Insider Activity at Colgate-Palmolive

In related news, insider Sally Massey sold 15,851 shares of the business’s stock in a transaction that occurred on Thursday, February 5th. The shares were 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 in the company, valued at $1,306,757.53. The trade was a 53.55% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CFO Stanley J. Sutula III sold 97,843 shares of the company’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 transaction, the chief financial officer directly owned 55,310 shares in the company, valued at approximately $5,214,073.70. This represents a 63.89% decrease in their position. The SEC filing for this sale provides additional information. In the last three months, insiders sold 184,683 shares of company stock valued at $17,486,693. Insiders own 0.34% of the company’s stock.

Colgate-Palmolive Stock Up 1.0%

NYSE CL opened at $88.85 on Friday. The stock’s 50 day simple moving average is $90.11 and its 200 day simple moving average is $83.23. The company has a debt-to-equity ratio of 18.82, a current ratio of 0.83 and a quick ratio of 0.54. Colgate-Palmolive Company has a one year low of $74.54 and a one year high of $99.33. The firm has a market cap of $71.62 billion, a PE ratio of 33.91, a price-to-earnings-growth ratio of 3.98 and a beta of 0.28.

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

Colgate-Palmolive Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, May 15th. Shareholders of record on Monday, April 20th will be given a $0.53 dividend. This represents a $2.12 annualized dividend and a yield of 2.4%. The ex-dividend date is Monday, April 20th. This is a boost from Colgate-Palmolive’s previous quarterly dividend of $0.52. Colgate-Palmolive’s dividend payout ratio is 79.39%.

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.