Boston Common Asset Management LLC Sells 6,813 Shares of Colgate-Palmolive Company $CL

Boston Common Asset Management LLC trimmed its stake in Colgate-Palmolive Company (NYSE:CL) by 2.3% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 295,738 shares of the company’s stock after selling 6,813 shares during the quarter. Boston Common Asset Management LLC’s holdings in Colgate-Palmolive were worth $23,641,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. Norges Bank purchased a new position in shares of Colgate-Palmolive in the 2nd quarter worth about $960,390,000. Schroder Investment Management Group raised its holdings in Colgate-Palmolive by 242.3% in the second quarter. Schroder Investment Management Group now owns 5,324,115 shares of the company’s stock worth $483,962,000 after buying an additional 3,768,784 shares during the last quarter. Pacer Advisors Inc. raised its holdings in Colgate-Palmolive by 3,052.2% in the third quarter. Pacer Advisors Inc. now owns 2,697,047 shares of the company’s stock worth $215,602,000 after buying an additional 2,611,485 shares during the last quarter. Acadian Asset Management LLC grew its holdings in shares of Colgate-Palmolive by 42.9% during the second quarter. Acadian Asset Management LLC now owns 6,124,347 shares of the company’s stock valued at $556,663,000 after buying an additional 1,839,853 shares during the last quarter. Finally, OMERS ADMINISTRATION Corp increased its position in shares of Colgate-Palmolive by 2,890.5% during the second quarter. OMERS ADMINISTRATION Corp now owns 1,417,542 shares of the company’s stock valued at $128,855,000 after acquiring an additional 1,370,140 shares in the last quarter. 80.41% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on CL shares. Jefferies Financial Group set a $85.00 price objective on Colgate-Palmolive in a research report on Tuesday, December 16th. Deutsche Bank Aktiengesellschaft set a $86.00 price target on Colgate-Palmolive in a report on Friday, October 10th. Piper Sandler set a $88.00 price objective on Colgate-Palmolive and gave the stock an “overweight” rating in a report on Tuesday, January 6th. Citigroup lowered their target price on shares of Colgate-Palmolive from $105.00 to $95.00 and set a “buy” rating on the stock in a research note on Monday, November 3rd. Finally, Weiss Ratings reaffirmed a “hold (c)” rating on shares of Colgate-Palmolive in a report on Wednesday, October 8th. Eleven research analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the stock. According to MarketBeat, Colgate-Palmolive currently has a consensus rating of “Moderate Buy” and a consensus price target of $89.44.

Colgate-Palmolive Stock Performance

Shares of NYSE CL opened at $84.72 on Thursday. Colgate-Palmolive Company has a 12-month low of $74.54 and a 12-month high of $100.18. The firm has a market capitalization of $68.29 billion, a price-to-earnings ratio of 23.73, a price-to-earnings-growth ratio of 5.79 and a beta of 0.30. The company has a current ratio of 0.93, a quick ratio of 0.60 and a debt-to-equity ratio of 5.90. The firm has a 50 day moving average of $79.75 and a 200 day moving average of $81.60.

Colgate-Palmolive (NYSE:CL) last issued its quarterly earnings results on Friday, October 31st. The company reported $0.91 earnings per share for the quarter, topping the consensus estimate of $0.89 by $0.02. Colgate-Palmolive had a net margin of 14.47% and a return on equity of 333.39%. The business had revenue of $5.13 billion for the quarter, compared to analysts’ expectations of $5.17 billion. During the same quarter last year, the company posted $0.91 EPS. The company’s revenue was up 1.9% compared to the same quarter last year. On average, research analysts anticipate that Colgate-Palmolive Company will post 3.75 earnings per share for the current year.

Colgate-Palmolive Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, February 13th. Stockholders of record on Wednesday, January 21st will be paid a $0.52 dividend. The ex-dividend date of this dividend is Wednesday, January 21st. This represents a $2.08 annualized dividend and a dividend yield of 2.5%. Colgate-Palmolive’s dividend payout ratio (DPR) is 58.26%.

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.