Danica Pension Livsforsikringsaktieselskab Acquires Shares of 498,132 Colgate-Palmolive Company $CL

Danica Pension Livsforsikringsaktieselskab bought a new position in Colgate-Palmolive Company (NYSE:CL) during the third quarter, according to its most recent Form 13F filing with the SEC. The firm bought 498,132 shares of the company’s stock, valued at approximately $39,821,000. Danica Pension Livsforsikringsaktieselskab owned approximately 0.06% of Colgate-Palmolive at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also made changes to their positions in CL. Copia Wealth Management acquired a new position in Colgate-Palmolive during the third quarter worth $29,000. Vermillion & White Wealth Management Group LLC increased its stake in shares of Colgate-Palmolive by 86.1% in the 2nd 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 last quarter. Cloud Capital Management LLC purchased a new position in shares of Colgate-Palmolive during the 3rd quarter worth $30,000. Kelleher Financial Advisors purchased a new position in shares of Colgate-Palmolive during the 3rd quarter worth $35,000. Finally, JPL Wealth Management LLC acquired a new position in shares of Colgate-Palmolive during the 3rd quarter valued at about $38,000. 80.41% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

CL has been the subject of several recent analyst reports. Evercore raised 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. Jefferies Financial Group lifted their target price on shares of Colgate-Palmolive from $85.00 to $91.00 and gave the stock a “hold” rating in a research note on Monday, February 2nd. Piper Sandler boosted 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. Barclays raised their price target on shares of Colgate-Palmolive from $83.00 to $88.00 and gave the stock an “equal weight” rating in a report on Tuesday, February 3rd. Finally, 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. Eleven 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 stock presently has an average rating of “Moderate Buy” and a consensus price target of $94.75.

Insider Transactions at Colgate-Palmolive

In other news, COO Panagiotis Tsourapas sold 35,000 shares of the firm’s stock in a transaction on Wednesday, February 11th. The stock was 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 trade represents a 77.07% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider John Hazlin sold 20,989 shares of the stock in a transaction dated 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 directly owned 17,645 shares in the company, valued at approximately $1,663,041.25. The trade was a 54.33% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold 184,683 shares of company stock valued at $17,486,693 over the last three months. 0.41% of the stock is currently owned by company insiders.

Colgate-Palmolive Stock Down 0.4%

Shares of CL opened at $89.90 on Wednesday. The company’s 50-day moving average price is $90.64 and its 200 day moving average price is $83.31. Colgate-Palmolive Company has a 12-month low of $74.54 and a 12-month high of $99.33. The company has a current ratio of 0.83, a quick ratio of 0.54 and a debt-to-equity ratio of 18.82. The firm has a market cap of $72.47 billion, a P/E ratio of 34.31, a price-to-earnings-growth ratio of 4.04 and a beta of 0.28.

Colgate-Palmolive (NYSE:CL) last announced its earnings results on Friday, January 30th. The company reported $0.95 earnings per share for the quarter, topping the consensus estimate of $0.91 by $0.04. The company had revenue of $5.23 billion during the quarter, compared to analyst estimates of $5.13 billion. Colgate-Palmolive had a net margin of 10.45% and a return on equity of 353.72%. Colgate-Palmolive’s revenue was up 5.8% compared to the same quarter last year. During the same quarter last year, the firm posted $0.91 earnings per share. On average, sell-side analysts forecast 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 given a $0.53 dividend. 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 dividend on an annualized basis and a yield of 2.4%. Colgate-Palmolive’s dividend payout ratio is presently 79.39%.

Colgate-Palmolive 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.