Colgate-Palmolive Company $CL Holdings Boosted by Ameriprise Financial Inc.

Ameriprise Financial Inc. boosted its stake in shares of Colgate-Palmolive Company (NYSE:CL) by 5.1% in the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 6,423,764 shares of the company’s stock after purchasing an additional 314,584 shares during the quarter. Ameriprise Financial Inc. owned approximately 0.80% of Colgate-Palmolive worth $517,167,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently added to or reduced their stakes in the stock. ProShare Advisors LLC grew its stake in shares of Colgate-Palmolive by 11.0% in the third quarter. ProShare Advisors LLC now owns 2,047,542 shares of the company’s stock worth $163,681,000 after purchasing an additional 202,379 shares in the last quarter. Providence Capital Advisors LLC acquired a new position in Colgate-Palmolive during the 3rd quarter valued at about $5,373,000. Asset Management One Co. Ltd. raised its position in shares of Colgate-Palmolive by 3.9% during the 3rd quarter. Asset Management One Co. Ltd. now owns 422,292 shares of the company’s stock worth $33,758,000 after buying an additional 16,017 shares in the last quarter. Citigroup Inc. lifted its stake in shares of Colgate-Palmolive by 43.7% in the 3rd quarter. Citigroup Inc. now owns 1,346,590 shares of the company’s stock worth $107,646,000 after acquiring an additional 409,710 shares during the period. Finally, Vanguard Group Inc. lifted its stake in shares of Colgate-Palmolive by 1.2% in the 2nd quarter. Vanguard Group Inc. now owns 82,751,689 shares of the company’s stock worth $7,522,129,000 after acquiring an additional 993,432 shares during the period. 80.41% of the stock is currently owned by institutional investors.

Insider Activity

In other news, insider Sally Massey sold 15,851 shares of Colgate-Palmolive stock in a transaction on Thursday, February 5th. The stock was sold at an average price of $95.03, for a total transaction of $1,506,320.53. Following the transaction, the insider owned 13,751 shares in the company, valued at approximately $1,306,757.53. The trade was a 53.55% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider John Hazlin sold 20,989 shares of the company’s stock in a transaction on Tuesday, February 10th. The shares were sold at an average price of $94.25, for a total value of $1,978,213.25. Following the transaction, the insider directly owned 17,645 shares in the company, valued at $1,663,041.25. The trade was a 54.33% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last 90 days, insiders sold 184,683 shares of company stock worth $17,486,693. Company insiders own 0.41% of the company’s stock.

Analysts Set New Price Targets

A number of research firms recently commented on CL. Rothschild & Co Redburn set a $93.00 price objective on shares of Colgate-Palmolive in a research note on Friday, February 13th. Bank of America lifted their price target on Colgate-Palmolive from $90.00 to $100.00 and gave the company a “buy” rating in a research report on Monday, February 2nd. Wells Fargo & Company boosted their price objective on Colgate-Palmolive from $86.00 to $94.00 and gave the stock an “equal weight” rating in a research note on Sunday, February 1st. Piper Sandler upped their price objective on Colgate-Palmolive from $88.00 to $96.00 and gave the company an “overweight” rating in a report on Friday, January 30th. Finally, Barclays raised their target price on Colgate-Palmolive from $83.00 to $88.00 and gave the company an “equal weight” rating in a research note on Tuesday, February 3rd. Eleven analysts have rated the stock with a Buy rating and six have given a Hold rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $94.75.

Colgate-Palmolive Stock Performance

Shares of NYSE CL opened at $88.85 on Monday. The stock’s fifty day simple moving average is $90.11 and its 200 day simple moving average is $83.22. The stock has a market capitalization of $71.62 billion, a price-to-earnings ratio of 33.91, a PEG ratio of 3.98 and a beta of 0.28. The company has a quick ratio of 0.54, a current ratio of 0.83 and a debt-to-equity ratio of 18.82. Colgate-Palmolive Company has a 52-week low of $74.54 and a 52-week high of $99.33.

Colgate-Palmolive (NYSE:CL) last announced its earnings results on Friday, January 30th. The company reported $0.95 EPS for the quarter, beating the consensus estimate of $0.91 by $0.04. The business 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%.Colgate-Palmolive’s revenue was up 5.8% compared to the same quarter last year. During the same period in the prior year, the business posted $0.91 earnings per share. As a group, sell-side analysts forecast 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. Investors of record on Monday, April 20th will be given a $0.53 dividend. This is a boost from Colgate-Palmolive’s previous quarterly dividend of $0.52. The ex-dividend date is Monday, April 20th. This represents a $2.12 annualized dividend and a dividend yield of 2.4%. Colgate-Palmolive’s payout ratio is currently 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.