Alliancebernstein L.P. Raises Stock Position in Colgate-Palmolive Company $CL

Alliancebernstein L.P. boosted its holdings in shares of Colgate-Palmolive Company (NYSE:CL) by 18.3% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 2,460,538 shares of the company’s stock after purchasing an additional 379,880 shares during the period. Alliancebernstein L.P. owned about 0.31% of Colgate-Palmolive worth $196,695,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds also recently added to or reduced their stakes in the company. ProShare Advisors LLC boosted its holdings in Colgate-Palmolive by 11.0% during the third quarter. ProShare Advisors LLC now owns 2,047,542 shares of the company’s stock worth $163,681,000 after buying an additional 202,379 shares in the last quarter. Providence Capital Advisors LLC purchased a new position in Colgate-Palmolive in the third quarter valued at $5,373,000. Asset Management One Co. Ltd. increased its holdings in Colgate-Palmolive by 3.9% in the third quarter. Asset Management One Co. Ltd. now owns 422,292 shares of the company’s stock valued at $33,758,000 after buying an additional 16,017 shares in the last quarter. Citigroup Inc. raised its position in shares of Colgate-Palmolive by 43.7% in the third 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. boosted its stake in shares of Colgate-Palmolive by 1.2% during 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 in the last quarter. 80.41% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other news, COO Panagiotis Tsourapas sold 15,000 shares of the company’s stock in a transaction on Thursday, February 12th. The stock was sold at an average price of $97.81, for a total value of $1,467,150.00. Following the transaction, the chief operating officer owned 10,415 shares of the company’s stock, valued at $1,018,691.15. This represents a 59.02% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider John Hazlin sold 20,989 shares of the stock in a transaction on Tuesday, February 10th. The stock was sold at an average price of $94.25, for a total value of $1,978,213.25. Following the transaction, the insider owned 17,645 shares of the company’s stock, valued at approximately $1,663,041.25. This represents a 54.33% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold 184,683 shares of company stock worth $17,486,693 over the last ninety days. Company insiders own 0.41% of the company’s stock.

Analyst Ratings Changes

CL has been the subject of a number of analyst reports. Rothschild & Co Redburn set a $93.00 price target on Colgate-Palmolive in a report on Friday, February 13th. Piper Sandler boosted their price objective on Colgate-Palmolive from $88.00 to $96.00 and gave the company an “overweight” rating in a research report on Friday, January 30th. JPMorgan Chase & Co. upped their target price on Colgate-Palmolive from $93.00 to $97.00 and gave the stock an “overweight” rating in a research note on Monday, February 2nd. UBS Group increased their target price on Colgate-Palmolive from $90.00 to $93.00 and gave the company a “buy” rating in a research report on Wednesday, January 14th. Finally, Evercore lifted their price target on shares of Colgate-Palmolive from $94.00 to $100.00 and gave the company an “outperform” rating in a research note 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.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $94.75.

Colgate-Palmolive Price Performance

NYSE:CL opened at $90.39 on Tuesday. 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 quick ratio of 0.54 and a current ratio of 0.83. The stock has a 50 day moving average price of $90.38 and a 200 day moving average price of $83.27. The stock has a market cap of $72.86 billion, a PE ratio of 34.50, a P/E/G ratio of 3.98 and a beta of 0.28.

Colgate-Palmolive (NYSE:CL) last announced its quarterly earnings results on Friday, January 30th. The company reported $0.95 earnings per share for the quarter, beating the consensus estimate of $0.91 by $0.04. The firm had revenue of $5.23 billion for the quarter, compared to analysts’ expectations of $5.13 billion. Colgate-Palmolive had a net margin of 10.45% and a return on equity of 353.72%. The company’s revenue was up 5.8% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.91 EPS. Equities research analysts expect that Colgate-Palmolive Company will post 3.75 EPS 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. This represents a $2.12 annualized dividend and a yield of 2.3%. This is a positive change from Colgate-Palmolive’s previous quarterly dividend of $0.52. The ex-dividend date of this dividend is Monday, April 20th. Colgate-Palmolive’s payout ratio is 79.39%.

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.