Norden Group LLC Lowers Stock Holdings in Colgate-Palmolive Company $CL

Norden Group LLC reduced its holdings in Colgate-Palmolive Company (NYSE:CL) by 86.2% during the 4th quarter, Holdings Channel reports. The firm owned 12,169 shares of the company’s stock after selling 76,326 shares during the quarter. Norden Group LLC’s holdings in Colgate-Palmolive were worth $962,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also made changes to their positions in CL. Norges Bank purchased a new position in shares of Colgate-Palmolive during the 2nd quarter valued at approximately $960,390,000. Invesco Ltd. grew its stake in Colgate-Palmolive by 13.1% in the 3rd quarter. Invesco Ltd. now owns 8,467,993 shares of the company’s stock valued at $676,931,000 after acquiring an additional 978,943 shares during the period. Diamond Hill Capital Management Inc. increased its holdings in Colgate-Palmolive by 46.7% in the 3rd 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 in the last quarter. Ameriprise Financial Inc. raised its position in Colgate-Palmolive by 5.1% during the third quarter. Ameriprise Financial Inc. now owns 6,423,764 shares of the company’s stock worth $517,167,000 after acquiring an additional 314,584 shares during the period. Finally, Amundi raised its position in Colgate-Palmolive by 41.6% during the third quarter. Amundi now owns 6,294,445 shares of the company’s stock worth $487,505,000 after acquiring an additional 1,850,412 shares during the period. 80.41% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

CL has been the subject of a number of research reports. Argus reissued a “hold” rating on shares of Colgate-Palmolive in a research note on Thursday, December 11th. Royal Bank Of Canada upgraded Colgate-Palmolive from a “sector perform” rating to an “outperform” rating and set a $88.00 price objective for the company in a research note on Tuesday, December 9th. Deutsche Bank Aktiengesellschaft raised their target price on Colgate-Palmolive from $83.00 to $90.00 and gave the company a “hold” rating in a research report on Monday, February 2nd. Morgan Stanley increased their price objective on Colgate-Palmolive from $87.00 to $100.00 and gave the company an “overweight” rating in a research note on Monday, February 2nd. Finally, Piper Sandler lifted their target price on shares of Colgate-Palmolive from $88.00 to $96.00 and gave the stock an “overweight” rating in a research note on Friday, January 30th. Eleven investment analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the stock. According to MarketBeat, Colgate-Palmolive has a consensus rating of “Moderate Buy” and an average target price of $94.75.

Colgate-Palmolive Stock Up 0.1%

NYSE CL opened at $84.25 on Friday. The business’s fifty day simple moving average is $91.11 and its 200-day simple moving average is $83.38. The company has a quick ratio of 0.54, a current ratio of 0.83 and a debt-to-equity ratio of 18.82. The firm has a market cap of $67.59 billion, a PE ratio of 32.16, a P/E/G ratio of 3.77 and a beta of 0.28. Colgate-Palmolive Company has a 52 week low of $74.54 and a 52 week high of $99.33.

Colgate-Palmolive (NYSE:CL) last announced its quarterly earnings data on Friday, January 30th. The company reported $0.95 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 during the quarter, compared to analyst estimates of $5.13 billion. During the same quarter in the prior year, the firm posted $0.91 earnings per share. Colgate-Palmolive’s quarterly revenue was up 5.8% on a year-over-year basis. As a group, equities analysts anticipate that Colgate-Palmolive Company will post 3.75 earnings per share for the current year.

Colgate-Palmolive Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, May 15th. Investors of record on Monday, April 20th will be given a $0.53 dividend. The ex-dividend date is Monday, April 20th. This is a positive change from Colgate-Palmolive’s previous quarterly dividend of $0.52. This represents a $2.12 annualized dividend and a yield of 2.5%. Colgate-Palmolive’s dividend payout ratio (DPR) is currently 79.39%.

Insiders Place Their Bets

In other Colgate-Palmolive news, insider Sally Massey sold 15,851 shares of Colgate-Palmolive 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 sale, the insider owned 13,751 shares in the company, valued at $1,306,757.53. The trade was a 53.55% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider John Hazlin sold 20,989 shares of the firm’s stock in a transaction dated 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 of the company’s stock, valued at $1,663,041.25. The trade was a 54.33% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 184,683 shares of company stock worth $17,486,693 in the last three months. 0.34% of the stock is owned by insiders.

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.