Colgate-Palmolive (NYSE:CL) Shares Sold by Mitsubishi UFJ Trust & Banking Corp

Mitsubishi UFJ Trust & Banking Corp trimmed its holdings in Colgate-Palmolive (NYSE:CL) by 6.1% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 967,333 shares of the company’s stock after selling 63,030 shares during the quarter. Mitsubishi UFJ Trust & Banking Corp’s holdings in Colgate-Palmolive were worth $87,940,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Connor Clark & Lunn Investment Management Ltd. boosted its stake in shares of Colgate-Palmolive by 36.9% during the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 14,689 shares of the company’s stock worth $1,525,000 after buying an additional 3,960 shares during the period. Great Valley Advisor Group Inc. increased its stake in shares of Colgate-Palmolive by 76.2% during the third quarter. Great Valley Advisor Group Inc. now owns 14,387 shares of the company’s stock worth $1,494,000 after acquiring an additional 6,224 shares during the period. Cerity Partners LLC increased its position in Colgate-Palmolive by 28.6% during the 3rd quarter. Cerity Partners LLC now owns 215,839 shares of the company’s stock worth $22,406,000 after purchasing an additional 48,024 shares during the period. Kingsview Wealth Management LLC raised its stake in shares of Colgate-Palmolive by 4.4% during the 3rd quarter. Kingsview Wealth Management LLC now owns 15,444 shares of the company’s stock worth $1,603,000 after buying an additional 644 shares in the last quarter. Finally, Algert Global LLC lifted its holdings in shares of Colgate-Palmolive by 830.4% in the 3rd quarter. Algert Global LLC now owns 47,739 shares of the company’s stock valued at $4,956,000 after buying an additional 42,608 shares during the period. Hedge funds and other institutional investors own 80.41% of the company’s stock.

Colgate-Palmolive Trading Up 0.7 %

Shares of Colgate-Palmolive stock opened at $90.91 on Tuesday. Colgate-Palmolive has a fifty-two week low of $85.32 and a fifty-two week high of $109.30. The business’s fifty day moving average is $89.40 and its two-hundred day moving average is $93.95. The company has a quick ratio of 0.58, a current ratio of 0.92 and a debt-to-equity ratio of 13.40. The firm has a market cap of $73.78 billion, a PE ratio of 25.83, a P/E/G ratio of 4.20 and a beta of 0.40.

Colgate-Palmolive (NYSE:CL) last released its earnings results on Friday, January 31st. The company reported $0.91 earnings per share for the quarter, topping the consensus estimate of $0.90 by $0.01. Colgate-Palmolive had a return on equity of 477.77% and a net margin of 14.38%. During the same quarter in the prior year, the firm earned $0.87 EPS. Analysts anticipate that Colgate-Palmolive will post 3.75 earnings per share for the current year.

Colgate-Palmolive Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, May 15th. Shareholders of record on Thursday, April 17th will be paid a dividend of $0.52 per share. The ex-dividend date of this dividend is Thursday, April 17th. This represents a $2.08 dividend on an annualized basis and a yield of 2.29%. This is an increase from Colgate-Palmolive’s previous quarterly dividend of $0.50. Colgate-Palmolive’s dividend payout ratio (DPR) is currently 56.82%.

Colgate-Palmolive announced that its board has approved a share repurchase program on Thursday, March 20th that permits the company to buyback $5.00 billion in shares. This buyback authorization permits the company to purchase up to 6.8% of its stock through open market purchases. Stock buyback programs are generally an indication that the company’s leadership believes its stock is undervalued.

Wall Street Analyst Weigh In

A number of brokerages recently weighed in on CL. Wells Fargo & Company dropped their price objective on Colgate-Palmolive from $92.00 to $83.00 and set an “underweight” rating on the stock in a report on Tuesday, January 7th. UBS Group cut their price target on shares of Colgate-Palmolive from $104.00 to $100.00 and set a “buy” rating for the company in a report on Monday, February 3rd. Morgan Stanley decreased their price objective on shares of Colgate-Palmolive from $111.00 to $104.00 and set an “overweight” rating on the stock in a report on Monday, February 3rd. Raymond James restated an “outperform” rating and set a $105.00 target price (down from $110.00) on shares of Colgate-Palmolive in a research report on Monday, February 3rd. Finally, Piper Sandler reduced their price target on shares of Colgate-Palmolive from $121.00 to $112.00 and set an “overweight” rating for the company in a research report on Monday, January 6th. One investment analyst has rated the stock with a sell rating, ten have issued a hold rating and eleven have assigned a buy rating to the company. Based on data from MarketBeat, Colgate-Palmolive currently has an average rating of “Hold” and a consensus price target of $101.72.

About Colgate-Palmolive

Colgate-Palmolive Company, together with its subsidiaries, manufactures and sells consumer products in the United States and internationally. It operates through two segments: Oral, Personal and Home Care; and Pet Nutrition. The Oral, Personal and Home Care segment offers 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 related items.