Glenmede Investment Management LP Has $38.42 Million Holdings in Colgate-Palmolive Company $CL

Glenmede Investment Management LP grew its position in Colgate-Palmolive Company (NYSE:CL) by 17.6% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 480,609 shares of the company’s stock after purchasing an additional 71,762 shares during the quarter. Glenmede Investment Management LP owned about 0.06% of Colgate-Palmolive worth $38,420,000 as of its most recent SEC filing.

A number of other large investors also recently made changes to their positions in the company. Copia Wealth Management bought a new position in Colgate-Palmolive during the 3rd quarter worth $29,000. Vermillion & White Wealth Management Group LLC lifted its holdings in shares of 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 buying an additional 155 shares in the last quarter. Cloud Capital Management LLC bought a new stake in shares of Colgate-Palmolive in the third quarter valued at about $30,000. MTM Investment Management LLC acquired a new position in shares of Colgate-Palmolive in the second quarter valued at about $39,000. Finally, Louisbourg Investments Inc. grew its stake in shares of Colgate-Palmolive by 94.7% in the third quarter. Louisbourg Investments Inc. now owns 514 shares of the company’s stock valued at $41,000 after acquiring an additional 250 shares in the last quarter. Institutional investors own 80.41% of the company’s stock.

Insider Activity at Colgate-Palmolive

In related news, COO Panagiotis Tsourapas sold 35,000 shares of the company’s stock in a transaction that occurred on Wednesday, February 11th. The shares were sold at an average price of $94.61, for a total transaction of $3,311,350.00. Following the completion of the transaction, the chief operating officer directly owned 10,415 shares in the company, valued at $985,363.15. This represents a 77.07% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Sally Massey sold 15,851 shares of the stock in a transaction that occurred on Thursday, February 5th. The shares were sold at an average price of $95.03, for a total transaction of $1,506,320.53. Following the completion of the transaction, the insider directly 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 position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 184,683 shares of company stock worth $17,486,693 over the last three months. 0.34% of the stock is owned by insiders.

Colgate-Palmolive Stock Up 1.0%

NYSE CL opened at $88.85 on Friday. The business has a fifty day moving average price of $90.11 and a two-hundred day moving average price of $83.24. The stock has a market capitalization of $71.62 billion, a PE ratio of 33.91, a PEG ratio of 3.94 and a beta of 0.28. Colgate-Palmolive Company has a fifty-two week low of $74.54 and a fifty-two week 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 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.91 by $0.04. Colgate-Palmolive had a return on equity of 353.72% and a net margin of 10.45%.The company had revenue of $5.23 billion for the quarter, compared to analyst estimates of $5.13 billion. During the same quarter last year, the company posted $0.91 EPS. The company’s revenue for the quarter was up 5.8% compared to the same quarter last year. Equities analysts expect that Colgate-Palmolive Company will post 3.75 earnings per share for the current fiscal year.

Colgate-Palmolive Increases Dividend

The firm 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 dividend of $0.53 per share. The ex-dividend date of this dividend is Monday, April 20th. This is a positive change from Colgate-Palmolive’s previous quarterly dividend of $0.52. This represents a $2.12 annualized dividend and a yield of 2.4%. Colgate-Palmolive’s payout ratio is presently 79.39%.

Wall Street Analysts Forecast Growth

CL has been the subject of several analyst reports. Bank of America lifted their price objective on shares of Colgate-Palmolive from $90.00 to $100.00 and gave the stock a “buy” rating in a research note on Monday, February 2nd. Royal Bank Of Canada upgraded shares of Colgate-Palmolive from a “sector perform” rating to an “outperform” rating and set a $88.00 target price on the stock in a research report on Tuesday, December 9th. Citigroup lifted their price target on shares of Colgate-Palmolive from $95.00 to $105.00 and gave the company a “buy” rating in a research report on Monday, February 2nd. Piper Sandler boosted their price target on Colgate-Palmolive from $88.00 to $96.00 and gave the company an “overweight” rating in a research note on Friday, January 30th. Finally, Deutsche Bank Aktiengesellschaft increased their price target on Colgate-Palmolive from $83.00 to $90.00 and gave the stock a “hold” rating in a research report on Monday, February 2nd. Eleven research analysts have rated the stock with a Buy rating and six have given a Hold rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $94.75.

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.