AIA Group Ltd Takes $2.11 Million Position in Colgate-Palmolive Company $CL

AIA Group Ltd purchased a new position in shares of Colgate-Palmolive Company (NYSE:CL) in the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm purchased 26,429 shares of the company’s stock, valued at approximately $2,113,000.

A number of other institutional investors have also made changes to their positions in the business. Copia Wealth Management bought a new position in Colgate-Palmolive during the 3rd quarter worth $29,000. Vermillion & White Wealth Management Group LLC increased its position in Colgate-Palmolive by 86.1% during the second quarter. Vermillion & White Wealth Management Group LLC now owns 335 shares of the company’s stock worth $30,000 after acquiring an additional 155 shares during the period. Cloud Capital Management LLC bought a new stake in Colgate-Palmolive in the 3rd quarter valued at about $30,000. Kelleher Financial Advisors acquired a new position in shares of Colgate-Palmolive during the 3rd quarter worth approximately $35,000. Finally, KERR FINANCIAL PLANNING Corp bought a new position in shares of Colgate-Palmolive during the third quarter worth approximately $36,000. 80.41% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of equities research analysts recently issued reports on CL shares. Rothschild & Co Redburn set a $93.00 price target on Colgate-Palmolive in a research report on Friday, February 13th. Citigroup raised their price target on Colgate-Palmolive from $95.00 to $105.00 and gave the stock a “buy” rating in a research report on Monday, February 2nd. Evercore upped their price objective on shares of Colgate-Palmolive from $94.00 to $100.00 and gave the stock an “outperform” rating in a research report on Monday, February 2nd. Piper Sandler raised their target price on shares of Colgate-Palmolive from $88.00 to $96.00 and gave the company an “overweight” rating in a report on Friday, January 30th. Finally, Weiss Ratings restated a “hold (c)” rating on shares of Colgate-Palmolive in a research report on Wednesday, January 21st. Eleven analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company’s stock. According to data from MarketBeat, Colgate-Palmolive currently has a consensus rating of “Moderate Buy” and a consensus target price of $94.75.

Insider Transactions at Colgate-Palmolive

In other news, CFO Stanley J. Sutula III sold 97,843 shares of the stock in a transaction on Wednesday, February 4th. The stock was sold at an average price of $94.27, for a total transaction of $9,223,659.61. Following the completion of the transaction, the chief financial officer owned 55,310 shares in the company, valued at approximately $5,214,073.70. This represents a 63.89% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Sally Massey sold 15,851 shares of Colgate-Palmolive stock in a transaction dated Thursday, February 5th. The stock was sold at an average price of $95.03, for a total value of $1,506,320.53. Following the completion of the sale, the insider directly owned 13,751 shares of the company’s stock, valued at approximately $1,306,757.53. This trade represents a 53.55% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 184,683 shares of company stock worth $17,486,693 over the last quarter. 0.34% of the stock is currently owned by corporate insiders.

Colgate-Palmolive Stock Performance

CL stock opened at $85.14 on Friday. The company has a quick ratio of 0.54, a current ratio of 0.83 and a debt-to-equity ratio of 18.82. The firm has a market cap of $68.62 billion, a PE ratio of 32.49, a P/E/G ratio of 3.83 and a beta of 0.28. The business has a 50 day moving average of $91.01 and a 200-day moving average of $83.37. Colgate-Palmolive Company has a 12-month low of $74.54 and a 12-month high of $99.33.

Colgate-Palmolive (NYSE:CL) last announced its quarterly earnings data on Friday, January 30th. The company reported $0.95 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.91 by $0.04. The firm had revenue of $5.23 billion during the quarter, compared to the consensus estimate of $5.13 billion. Colgate-Palmolive had a return on equity of 353.72% and a net margin of 10.45%.The business’s revenue for the quarter was up 5.8% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.91 EPS. As a group, sell-side analysts expect that Colgate-Palmolive Company will post 3.75 earnings per share for the current year.

Colgate-Palmolive Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, May 15th. Shareholders of record on Monday, April 20th will be paid a $0.53 dividend. The ex-dividend date is Monday, April 20th. This is a boost from Colgate-Palmolive’s previous quarterly dividend of $0.52. This represents a $2.12 annualized dividend and a dividend yield of 2.5%. Colgate-Palmolive’s dividend payout ratio is presently 79.39%.

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.