Swiss Life Asset Management Ltd Acquires 76,139 Shares of Colgate-Palmolive Company $CL

Swiss Life Asset Management Ltd raised its holdings in Colgate-Palmolive Company (NYSE:CL) by 51.4% during the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 224,238 shares of the company’s stock after buying an additional 76,139 shares during the period. Swiss Life Asset Management Ltd’s holdings in Colgate-Palmolive were worth $17,926,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Norges Bank bought a new position in shares of Colgate-Palmolive in the 2nd quarter worth about $960,390,000. Invesco Ltd. increased its position in shares of Colgate-Palmolive by 13.1% during the 3rd quarter. Invesco Ltd. now owns 8,467,993 shares of the company’s stock valued at $676,931,000 after purchasing an additional 978,943 shares during the last quarter. Diamond Hill Capital Management Inc. increased its holdings in Colgate-Palmolive by 46.7% during 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 during the period. Ameriprise Financial Inc. raised its stake in Colgate-Palmolive by 5.1% in the third quarter. Ameriprise Financial Inc. now owns 6,423,764 shares of the company’s stock valued at $517,167,000 after purchasing an additional 314,584 shares in the last quarter. Finally, Amundi boosted its holdings in shares of Colgate-Palmolive by 41.6% in the 3rd quarter. Amundi now owns 6,294,445 shares of the company’s stock worth $487,505,000 after purchasing an additional 1,850,412 shares in the last quarter. Institutional investors own 80.41% of the company’s stock.

Insider Transactions at Colgate-Palmolive

In related news, insider Sally Massey sold 15,851 shares of the company’s stock in a transaction dated 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 in the company, valued at $1,306,757.53. This represents a 53.55% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, COO Panagiotis Tsourapas sold 35,000 shares of the firm’s stock in a transaction that occurred on Wednesday, February 11th. The stock was sold at an average price of $94.61, for a total transaction of $3,311,350.00. Following the completion of the transaction, the chief operating officer directly owned 10,415 shares in the company, valued at $985,363.15. This trade represents a 77.07% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last 90 days, insiders have sold 184,683 shares of company stock worth $17,486,693. Insiders own 0.34% of the company’s stock.

Colgate-Palmolive Stock Down 2.3%

Shares of CL stock opened at $85.49 on Friday. The company has a current ratio of 0.83, a quick ratio of 0.54 and a debt-to-equity ratio of 18.82. Colgate-Palmolive Company has a 12 month low of $74.54 and a 12 month high of $99.33. The company has a 50 day simple moving average of $90.94 and a two-hundred day simple moving average of $83.36. The stock has a market cap of $68.91 billion, a P/E ratio of 32.63, a P/E/G ratio of 3.92 and a beta of 0.28.

Colgate-Palmolive (NYSE:CL) last issued its quarterly earnings data on Friday, January 30th. The company reported $0.95 earnings per share for the quarter, beating 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 firm had revenue of $5.23 billion during the quarter, compared to analyst estimates of $5.13 billion. During the same quarter last year, the business posted $0.91 earnings per share. The business’s quarterly revenue was up 5.8% compared to the same quarter last year. On average, research analysts expect that Colgate-Palmolive Company will post 3.75 earnings per share for the current year.

Colgate-Palmolive Increases Dividend

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

Analyst Ratings Changes

Several research analysts have recently issued reports on the stock. Piper Sandler raised their target price on shares of Colgate-Palmolive from $88.00 to $96.00 and gave the stock an “overweight” rating in a report on Friday, January 30th. Morgan Stanley increased their target price on Colgate-Palmolive from $87.00 to $100.00 and gave the stock an “overweight” rating in a research report on Monday, February 2nd. Evercore increased their price objective on Colgate-Palmolive from $94.00 to $100.00 and gave the stock an “outperform” rating in a report on Monday, February 2nd. Citigroup upped their target price on shares of Colgate-Palmolive from $95.00 to $105.00 and gave the stock a “buy” rating in a research report on Monday, February 2nd. Finally, The Goldman Sachs Group reiterated a “buy” rating and set a $100.00 price objective on shares of Colgate-Palmolive in a research note on Friday, February 20th. Eleven analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $94.75.

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.