AlphaStar Capital Management LLC grew its holdings in Colgate-Palmolive (NYSE:CL) by 9.5% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 6,718 shares of the company’s stock after acquiring an additional 583 shares during the period. AlphaStar Capital Management LLC’s holdings in Colgate-Palmolive were worth $532,000 as of its most recent filing with the Securities & Exchange Commission.
Several other large investors have also bought and sold shares of CL. Nordea Investment Management AB grew its stake in shares of Colgate-Palmolive by 76.1% in the second quarter. Nordea Investment Management AB now owns 2,750,788 shares of the company’s stock worth $200,064,000 after acquiring an additional 1,188,507 shares in the last quarter. M&G Investment Management Ltd. raised its holdings in shares of Colgate-Palmolive by 62.9% in the 2nd quarter. M&G Investment Management Ltd. now owns 1,853,623 shares of the company’s stock valued at $135,314,000 after acquiring an additional 715,773 shares in the last quarter. GUARDCAP ASSET MANAGEMENT Ltd raised its holdings in shares of Colgate-Palmolive by 29.3% in the 2nd quarter. GUARDCAP ASSET MANAGEMENT Ltd now owns 2,820,132 shares of the company’s stock valued at $206,603,000 after acquiring an additional 639,353 shares in the last quarter. Conning Inc. raised its holdings in shares of Colgate-Palmolive by 3,549.8% in the 2nd quarter. Conning Inc. now owns 482,284 shares of the company’s stock valued at $35,332,000 after acquiring an additional 469,070 shares in the last quarter. Finally, Sarasin & Partners LLP raised its holdings in shares of Colgate-Palmolive by 15.2% in the 2nd quarter. Sarasin & Partners LLP now owns 3,305,185 shares of the company’s stock valued at $242,138,000 after acquiring an additional 436,889 shares in the last quarter. Institutional investors and hedge funds own 76.74% of the company’s stock.
Several research firms have weighed in on CL. Deutsche Bank Aktiengesellschaft raised their price target on Colgate-Palmolive from $75.00 to $78.00 and gave the company a “hold” rating in a report on Monday, August 3rd. Morgan Stanley increased their price objective on Colgate-Palmolive from $78.00 to $80.00 and gave the company an “equal weight” rating in a research report on Monday, August 3rd. TheStreet upgraded Colgate-Palmolive from a “c+” rating to a “b+” rating in a research report on Friday, July 31st. Truist increased their price objective on Colgate-Palmolive from $80.00 to $85.00 in a research report on Monday, October 26th. Finally, Royal Bank of Canada reiterated a “buy” rating and set a $88.00 price objective on shares of Colgate-Palmolive in a research report on Thursday, July 30th. Three analysts have rated the stock with a sell rating, four have given a hold rating and six have issued a buy rating to the company. The stock presently has an average rating of “Hold” and a consensus target price of $76.08.
Colgate-Palmolive (NYSE:CL) last posted its quarterly earnings results on Friday, October 30th. The company reported $0.79 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.70 by $0.09. The business had revenue of $4.15 billion for the quarter, compared to analyst estimates of $4 billion. Colgate-Palmolive had a return on equity of 559.34% and a net margin of 16.13%. Colgate-Palmolive’s revenue for the quarter was up 5.7% compared to the same quarter last year. During the same period last year, the company earned $0.71 EPS. On average, equities analysts expect that Colgate-Palmolive will post 2.96 earnings per share for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Monday, November 16th. Stockholders of record on Friday, October 23rd will be given a $0.44 dividend. The ex-dividend date of this dividend is Thursday, October 22nd. This represents a $1.76 dividend on an annualized basis and a dividend yield of 2.23%. Colgate-Palmolive’s dividend payout ratio is currently 62.19%.
In other news, insider Sally Massey sold 387 shares of Colgate-Palmolive stock in a transaction that occurred on Monday, September 28th. The stock was sold at an average price of $77.30, for a total value of $29,915.10. Following the sale, the insider now directly owns 4,856 shares in the company, valued at approximately $375,368.80. The sale was disclosed in a filing with the SEC, which is available through this link. Also, CEO Noel R. Wallace sold 85,929 shares of Colgate-Palmolive stock in a transaction that occurred on Wednesday, August 5th. The stock was sold at an average price of $76.37, for a total value of $6,562,397.73. Following the completion of the sale, the chief executive officer now owns 282,097 shares in the company, valued at $21,543,747.89. The disclosure for this sale can be found here. Over the last quarter, insiders sold 256,994 shares of company stock worth $19,678,851. Corporate insiders own 0.78% of the company’s stock.
Colgate-Palmolive Company, together with its subsidiaries, manufactures and sells consumer products worldwide. The company operates through two segments, Oral, Personal and Home Care; and Pet Nutrition. The Oral, Personal and Home Care segment products include toothpaste, toothbrushes, mouthwash, bar and liquid hand soaps, shower gels, shampoos, conditioners, deodorants and antiperspirants, skin health products, dishwashing detergents, fabric conditioners, household cleaners, and other similar items.
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