Colgate-Palmolive Company $CL Shares Sold by New York State Teachers Retirement System

New York State Teachers Retirement System reduced its position in Colgate-Palmolive Company (NYSE:CL) by 2.2% in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 756,473 shares of the company’s stock after selling 16,797 shares during the quarter. New York State Teachers Retirement System owned about 0.09% of Colgate-Palmolive worth $60,472,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the business. Cidel Asset Management Inc. grew its holdings in shares of Colgate-Palmolive by 13.6% in the second quarter. Cidel Asset Management Inc. now owns 329,060 shares of the company’s stock valued at $29,912,000 after purchasing an additional 39,413 shares in the last quarter. Asset Management One Co. Ltd. boosted its position in Colgate-Palmolive by 3.9% in the 3rd quarter. Asset Management One Co. Ltd. now owns 422,292 shares of the company’s stock valued at $33,758,000 after buying an additional 16,017 shares during the period. Vanguard Group Inc. boosted its position 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 buying an additional 993,432 shares during the period. Sequoia Financial Advisors LLC grew its stake in shares of Colgate-Palmolive by 18.6% in the second quarter. Sequoia Financial Advisors LLC now owns 30,273 shares of the company’s stock worth $2,752,000 after acquiring an additional 4,738 shares in the last quarter. Finally, Exchange Traded Concepts LLC increased its position in shares of Colgate-Palmolive by 15.0% during the third quarter. Exchange Traded Concepts LLC now owns 400,137 shares of the company’s stock worth $31,987,000 after acquiring an additional 52,261 shares during the period. Institutional investors and hedge funds own 80.41% of the company’s stock.

Colgate-Palmolive Price Performance

Shares of NYSE CL opened at $81.44 on Monday. The stock’s 50-day simple moving average is $78.71 and its 200-day simple moving average is $81.91. The firm has a market capitalization of $65.64 billion, a PE ratio of 22.81, a price-to-earnings-growth ratio of 5.52 and a beta of 0.30. Colgate-Palmolive Company has a fifty-two week low of $74.54 and a fifty-two week high of $100.18. The company has a debt-to-equity ratio of 5.90, a quick ratio of 0.60 and a current ratio of 0.93.

Colgate-Palmolive (NYSE:CL) last announced its quarterly earnings results on Friday, October 31st. The company reported $0.91 EPS for the quarter, beating the consensus estimate of $0.89 by $0.02. The company had revenue of $5.13 billion for the quarter, compared to analyst estimates of $5.17 billion. Colgate-Palmolive had a net margin of 14.47% and a return on equity of 333.39%. The firm’s revenue was up 1.9% on a year-over-year basis. During the same period in the prior year, the firm posted $0.91 earnings per share. As a group, equities research analysts forecast that Colgate-Palmolive Company will post 3.75 EPS for the current fiscal year.

Colgate-Palmolive Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, February 13th. Investors of record on Wednesday, January 21st will be given a $0.52 dividend. The ex-dividend date of this dividend is Wednesday, January 21st. This represents a $2.08 dividend on an annualized basis and a yield of 2.6%. Colgate-Palmolive’s payout ratio is 58.26%.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on CL shares. UBS Group decreased their target price on Colgate-Palmolive from $92.00 to $90.00 and set a “buy” rating for the company in a report on Monday, November 3rd. Bank of America decreased their price objective on Colgate-Palmolive from $98.00 to $88.00 and set a “buy” rating for the company in a research note on Wednesday, October 8th. JPMorgan Chase & Co. boosted 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. Piper Sandler set a $88.00 target price on shares of Colgate-Palmolive and gave the company an “overweight” rating in a report on Tuesday, January 6th. Finally, Evercore ISI lowered their price target on shares of Colgate-Palmolive from $100.00 to $94.00 and set an “outperform” rating for the company in a report on Monday, November 3rd. Eleven investment analysts have rated the stock with a Buy rating, four have issued a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, Colgate-Palmolive currently has a consensus rating of “Moderate Buy” and a consensus price target of $88.19.

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.