Colgate-Palmolive (NYSE:CL) Shares Sold by Allspring Global Investments Holdings LLC

Allspring Global Investments Holdings LLC decreased its position in shares of Colgate-Palmolive (NYSE:CL) by 58.8% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 184,544 shares of the company’s stock after selling 263,476 shares during the period. Allspring Global Investments Holdings LLC’s holdings in Colgate-Palmolive were worth $14,710,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in CL. OFI Invest Asset Management acquired a new position in Colgate-Palmolive in the 3rd quarter valued at about $25,000. McGlone Suttner Wealth Management Inc. purchased a new stake in shares of Colgate-Palmolive during the fourth quarter worth approximately $34,000. Quarry LP lifted its holdings in shares of Colgate-Palmolive by 48.2% during the second quarter. Quarry LP now owns 446 shares of the company’s stock worth $34,000 after purchasing an additional 145 shares during the period. Kayne Anderson Rudnick Investment Management LLC grew its position in Colgate-Palmolive by 142.0% in the 3rd quarter. Kayne Anderson Rudnick Investment Management LLC now owns 496 shares of the company’s stock valued at $35,000 after buying an additional 291 shares during the last quarter. Finally, McCarthy Grittinger Financial Group LLC acquired a new position in Colgate-Palmolive in the 3rd quarter valued at $37,000. Hedge funds and other institutional investors own 80.41% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts have recently commented on CL shares. Evercore ISI raised their target price on shares of Colgate-Palmolive from $90.00 to $96.00 and gave the stock an “outperform” rating in a research note on Monday, April 8th. Morgan Stanley lifted their price objective on Colgate-Palmolive from $85.00 to $93.00 and gave the company an “overweight” rating in a report on Monday, January 29th. Wells Fargo & Company raised their price target on Colgate-Palmolive from $80.00 to $88.00 and gave the company an “equal weight” rating in a report on Monday, January 29th. StockNews.com downgraded Colgate-Palmolive from a “strong-buy” rating to a “buy” rating in a research note on Tuesday, February 20th. Finally, Stifel Nicolaus increased their price objective on Colgate-Palmolive from $89.00 to $94.00 and gave the stock a “buy” rating in a research report on Wednesday, April 10th. Three equities research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $88.56.

Colgate-Palmolive Stock Performance

NYSE CL opened at $86.17 on Tuesday. The company has a quick ratio of 0.71, a current ratio of 1.11 and a debt-to-equity ratio of 8.59. Colgate-Palmolive has a fifty-two week low of $67.62 and a fifty-two week high of $90.37. The business has a fifty day moving average of $86.87 and a 200-day moving average of $80.48. The stock has a market cap of $70.83 billion, a price-to-earnings ratio of 31.00, a price-to-earnings-growth ratio of 3.26 and a beta of 0.42.

Colgate-Palmolive (NYSE:CL) last announced its earnings results on Friday, January 26th. The company reported $0.87 earnings per share for the quarter, beating the consensus estimate of $0.85 by $0.02. Colgate-Palmolive had a net margin of 11.82% and a return on equity of 509.75%. The firm had revenue of $4.95 billion during the quarter, compared to the consensus estimate of $4.89 billion. During the same quarter in the previous year, the company posted $0.77 EPS. The firm’s revenue for the quarter was up 6.9% on a year-over-year basis. As a group, analysts predict that Colgate-Palmolive will post 3.49 earnings per share for the current fiscal year.

Colgate-Palmolive Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, May 15th. Investors of record on Monday, April 22nd will be given a dividend of $0.50 per share. The ex-dividend date of this dividend is Friday, April 19th. This represents a $2.00 dividend on an annualized basis and a yield of 2.32%. This is a positive change from Colgate-Palmolive’s previous quarterly dividend of $0.48. Colgate-Palmolive’s dividend payout ratio (DPR) is 69.06%.

Insiders Place Their Bets

In other Colgate-Palmolive news, CEO Noel R. Wallace sold 29,772 shares of the stock in a transaction on Friday, February 16th. The stock was sold at an average price of $84.06, for a total transaction of $2,502,634.32. Following the transaction, the chief executive officer now owns 301,343 shares of the company’s stock, valued at approximately $25,330,892.58. The sale was disclosed in a filing with the SEC, which is available at the SEC website. In related news, CEO Noel R. Wallace sold 50,000 shares of the business’s stock in a transaction that occurred on Monday, February 12th. The shares were sold at an average price of $83.15, for a total value of $4,157,500.00. Following the completion of the sale, the chief executive officer now directly owns 274,179 shares in the company, valued at $22,797,983.85. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CEO Noel R. Wallace sold 29,772 shares of the stock in a transaction that occurred on Friday, February 16th. The stock was sold at an average price of $84.06, for a total transaction of $2,502,634.32. Following the transaction, the chief executive officer now directly owns 301,343 shares in the company, valued at approximately $25,330,892.58. The disclosure for this sale can be found here. In the last three months, insiders sold 232,371 shares of company stock valued at $19,505,099. Company insiders own 0.37% of the company’s stock.

About Colgate-Palmolive

Colgate-Palmolive Company, together with its subsidiaries, manufactures and sells consumer products in the United States and internationally. It operates through two segments: Oral, Personal and Home Care; and Pet Nutrition. The Oral, Personal and Home Care segment offers toothpaste, toothbrushes, mouthwash, bar and liquid hand soaps, shower gels, shampoos, conditioners, deodorants and antiperspirants, skin health products, dishwashing detergents, fabric conditioners, household cleaners, and other related items.