Allspring Global Investments Holdings LLC Sells 83,071 Shares of Colgate-Palmolive Company $CL

Allspring Global Investments Holdings LLC reduced its stake in shares of Colgate-Palmolive Company (NYSE:CL) by 46.4% during the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 96,093 shares of the company’s stock after selling 83,071 shares during the quarter. Allspring Global Investments Holdings LLC’s holdings in Colgate-Palmolive were worth $7,592,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also bought and sold shares of CL. Calamos Advisors LLC lifted its position in Colgate-Palmolive by 0.3% during the third quarter. Calamos Advisors LLC now owns 305,953 shares of the company’s stock worth $24,458,000 after purchasing an additional 834 shares during the period. VIRGINIA RETIREMENT SYSTEMS ET Al increased its holdings in Colgate-Palmolive by 44.5% in the 3rd quarter. VIRGINIA RETIREMENT SYSTEMS ET Al now owns 1,332,700 shares of the company’s stock valued at $106,536,000 after buying an additional 410,400 shares during the period. Smith Salley Wealth Management raised its position in shares of Colgate-Palmolive by 698.5% in the 3rd quarter. Smith Salley Wealth Management now owns 125,787 shares of the company’s stock valued at $10,055,000 after buying an additional 110,034 shares in the last quarter. Ascent Group LLC lifted its holdings in shares of Colgate-Palmolive by 19.2% during the 3rd quarter. Ascent Group LLC now owns 30,415 shares of the company’s stock worth $2,431,000 after acquiring an additional 4,903 shares during the period. Finally, Abacus FCF Advisors LLC lifted its holdings in shares of Colgate-Palmolive by 11.0% during the 3rd quarter. Abacus FCF Advisors LLC now owns 223,175 shares of the company’s stock worth $17,841,000 after acquiring an additional 22,105 shares during the period. Institutional investors and hedge funds own 80.41% of the company’s stock.

Colgate-Palmolive Trading Up 0.3%

NYSE CL opened at $77.18 on Wednesday. The company has a market cap of $62.21 billion, a price-to-earnings ratio of 21.62, a price-to-earnings-growth ratio of 5.21 and a beta of 0.30. Colgate-Palmolive Company has a twelve month low of $74.54 and a twelve month high of $100.18. The company has a quick ratio of 0.60, a current ratio of 0.93 and a debt-to-equity ratio of 5.90. The business’s fifty day moving average is $78.51 and its 200 day moving average is $82.09.

Colgate-Palmolive (NYSE:CL) last issued its earnings results on Friday, October 31st. The company reported $0.91 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.89 by $0.02. Colgate-Palmolive had a return on equity of 333.39% and a net margin of 14.47%.The business had revenue of $5.13 billion during the quarter, compared to analysts’ expectations of $5.17 billion. During the same quarter in the prior year, the firm earned $0.91 EPS. The business’s revenue for the quarter was up 1.9% compared to the same quarter last year. As a group, sell-side analysts expect that Colgate-Palmolive Company will post 3.75 EPS for the current fiscal year.

Colgate-Palmolive Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, February 13th. Investors of record on Wednesday, January 21st will be issued a $0.52 dividend. This represents a $2.08 dividend on an annualized basis and a yield of 2.7%. The ex-dividend date is Wednesday, January 21st. Colgate-Palmolive’s dividend payout ratio (DPR) is 58.26%.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on CL shares. UBS Group decreased their price objective on shares of Colgate-Palmolive from $92.00 to $90.00 and set a “buy” rating on the stock in a research note on Monday, November 3rd. The Goldman Sachs Group reduced their target price on Colgate-Palmolive from $106.00 to $91.00 and set a “buy” rating on the stock in a report on Thursday, October 2nd. Citigroup lowered their price target on Colgate-Palmolive from $105.00 to $95.00 and set a “buy” rating for the company in a report on Monday, November 3rd. JPMorgan Chase & Co. upped their price objective on Colgate-Palmolive from $87.00 to $88.00 and gave the stock an “overweight” rating in a research report on Thursday, December 18th. Finally, Barclays decreased their target price on Colgate-Palmolive from $82.00 to $80.00 and set an “equal weight” rating on the stock in a research report on Tuesday, November 4th. Ten analysts have rated the stock with a Buy rating, five have given a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, Colgate-Palmolive presently has an average rating of “Moderate Buy” and an average target price of $89.06.

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.