Allspring Global Investments Holdings LLC Has $2.82 Million Stock Position in Colgate-Palmolive Company $CL

Allspring Global Investments Holdings LLC reduced its position in Colgate-Palmolive Company (NYSE:CL) by 62.2% in the 4th quarter, according to its most recent filing with the SEC. The firm owned 36,331 shares of the company’s stock after selling 59,762 shares during the period. Allspring Global Investments Holdings LLC’s holdings in Colgate-Palmolive were worth $2,823,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Pacer Advisors Inc. grew its stake in shares of Colgate-Palmolive by 3,052.2% during the third quarter. Pacer Advisors Inc. now owns 2,697,047 shares of the company’s stock worth $215,602,000 after purchasing an additional 2,611,485 shares during the period. Diamond Hill Capital Management Inc. grew its stake in shares of Colgate-Palmolive by 46.7% during the third quarter. Diamond Hill Capital Management Inc. now owns 8,077,549 shares of the company’s stock worth $645,719,000 after purchasing an additional 2,572,796 shares during the period. Amundi grew its stake in shares of Colgate-Palmolive by 41.6% during the third quarter. Amundi now owns 6,294,445 shares of the company’s stock worth $487,505,000 after purchasing an additional 1,850,412 shares during the period. Two Sigma Investments LP grew its stake in shares of Colgate-Palmolive by 360.9% during the third quarter. Two Sigma Investments LP now owns 2,126,249 shares of the company’s stock worth $169,972,000 after purchasing an additional 1,664,949 shares during the period. Finally, Balyasny Asset Management L.P. grew its stake in shares of Colgate-Palmolive by 50,879.7% during the second quarter. Balyasny Asset Management L.P. now owns 1,193,435 shares of the company’s stock worth $108,483,000 after purchasing an additional 1,191,094 shares during the period. 80.41% of the stock is owned by institutional investors and hedge funds.

Colgate-Palmolive Stock Performance

Shares of Colgate-Palmolive stock opened at $83.16 on Wednesday. The firm has a market cap of $66.72 billion, a price-to-earnings ratio of 31.74, a price-to-earnings-growth ratio of 3.91 and a beta of 0.34. The stock’s 50-day moving average is $91.03 and its 200-day moving average is $83.50. Colgate-Palmolive Company has a one year low of $74.54 and a one year high of $99.33. The company has a debt-to-equity ratio of 18.82, a current ratio of 0.83 and a quick ratio of 0.54.

Colgate-Palmolive (NYSE:CL) last issued its quarterly earnings results on Friday, January 30th. The company reported $0.95 EPS for the quarter, beating analysts’ consensus estimates of $0.91 by $0.04. The company had revenue of $5.23 billion for the quarter, compared to analyst estimates of $5.13 billion. Colgate-Palmolive had a return on equity of 353.72% and a net margin of 10.45%.The company’s quarterly revenue was up 5.8% compared to the same quarter last year. During the same period in the previous year, the company posted $0.91 earnings per share. Equities analysts predict that Colgate-Palmolive Company will post 3.75 earnings per share for the current fiscal year.

Colgate-Palmolive Increases Dividend

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

Wall Street Analysts Forecast Growth

Several research firms have weighed in on CL. Morgan Stanley lifted their target price on Colgate-Palmolive from $87.00 to $100.00 and gave the stock an “overweight” rating in a report on Monday, February 2nd. JPMorgan Chase & Co. lifted their target price on Colgate-Palmolive from $93.00 to $97.00 and gave the stock an “overweight” rating in a report on Monday, February 2nd. Wall Street Zen lowered Colgate-Palmolive from a “buy” rating to a “hold” rating in a report on Sunday, March 29th. Royal Bank Of Canada upgraded Colgate-Palmolive from a “sector perform” rating to an “outperform” rating and set a $88.00 target price on the stock in a report on Tuesday, December 9th. Finally, Piper Sandler lifted their target price on Colgate-Palmolive from $88.00 to $96.00 and gave the stock an “overweight” rating in a report on Friday, January 30th. Eleven equities research analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the stock. According to MarketBeat, Colgate-Palmolive currently has an average rating of “Moderate Buy” and a consensus target price of $95.50.

Insider Transactions at Colgate-Palmolive

In related news, 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 sale, the insider owned 13,751 shares of the company’s stock, valued at approximately $1,306,757.53. The trade was a 53.55% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Stanley J. Sutula III sold 97,843 shares of Colgate-Palmolive stock in a transaction dated Wednesday, February 4th. The shares were sold at an average price of $94.27, for a total value of $9,223,659.61. Following the completion of the sale, the chief financial officer directly owned 55,310 shares in the company, valued at approximately $5,214,073.70. This represents a 63.89% decrease in their position. The SEC filing for this sale provides additional information. In the last ninety days, insiders have sold 184,683 shares of company stock valued at $17,486,693. 0.34% of the stock is currently owned by company insiders.

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.