Mediolanum International Funds Ltd Sells 14,118 Shares of Colgate-Palmolive (NYSE:CL)

Mediolanum International Funds Ltd decreased its position in Colgate-Palmolive (NYSE:CL) by 3.4% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 401,623 shares of the company’s stock after selling 14,118 shares during the quarter. Mediolanum International Funds Ltd’s holdings in Colgate-Palmolive were worth $41,563,000 at the end of the most recent quarter.

A number of other institutional investors have also added to or reduced their stakes in CL. Price T Rowe Associates Inc. MD raised its holdings in Colgate-Palmolive by 27.8% in the first quarter. Price T Rowe Associates Inc. MD now owns 41,067,130 shares of the company’s stock worth $3,698,096,000 after purchasing an additional 8,933,912 shares in the last quarter. Swedbank AB purchased a new stake in shares of Colgate-Palmolive during the 1st quarter valued at about $286,370,000. Acadian Asset Management LLC boosted its holdings in shares of Colgate-Palmolive by 108.4% during the 2nd quarter. Acadian Asset Management LLC now owns 5,682,280 shares of the company’s stock valued at $551,367,000 after acquiring an additional 2,955,442 shares during the last quarter. Massachusetts Financial Services Co. MA boosted its holdings in shares of Colgate-Palmolive by 40.7% during the 2nd quarter. Massachusetts Financial Services Co. MA now owns 8,969,498 shares of the company’s stock valued at $870,400,000 after acquiring an additional 2,593,313 shares during the last quarter. Finally, Ossiam boosted its holdings in shares of Colgate-Palmolive by 368.4% during the 1st quarter. Ossiam now owns 1,563,768 shares of the company’s stock valued at $140,817,000 after acquiring an additional 1,229,891 shares during the last quarter. Institutional investors own 80.41% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on the stock. JPMorgan Chase & Co. raised their price target on shares of Colgate-Palmolive from $113.00 to $114.00 and gave the company an “overweight” rating in a report on Friday, October 11th. Stifel Nicolaus raised their price target on shares of Colgate-Palmolive from $95.00 to $105.00 and gave the company a “buy” rating in a report on Monday, July 22nd. Bank of America raised their price target on shares of Colgate-Palmolive from $100.00 to $110.00 and gave the company a “buy” rating in a report on Wednesday, July 10th. Jefferies Financial Group cut shares of Colgate-Palmolive from a “buy” rating to a “hold” rating and lowered their price objective for the stock from $103.00 to $95.00 in a research note on Wednesday, July 24th. Finally, Piper Sandler started coverage on shares of Colgate-Palmolive in a research note on Tuesday, September 24th. They issued an “overweight” rating and a $121.00 price objective on the stock. One analyst has rated the stock with a sell rating, eight have issued a hold rating and fourteen have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Colgate-Palmolive has a consensus rating of “Moderate Buy” and a consensus target price of $106.00.

Colgate-Palmolive Price Performance

Shares of CL traded down $3.39 during mid-day trading on Friday, hitting $96.35. 2,749,798 shares of the stock were exchanged, compared to its average volume of 4,324,764. The company has a market cap of $79.05 billion, a PE ratio of 31.57, a price-to-earnings-growth ratio of 3.54 and a beta of 0.40. Colgate-Palmolive has a 52-week low of $71.46 and a 52-week high of $109.30. The firm has a 50-day moving average of $103.31 and a two-hundred day moving average of $97.84. The company has a debt-to-equity ratio of 16.90, a quick ratio of 0.70 and a current ratio of 1.06.

Colgate-Palmolive (NYSE:CL) last issued its quarterly earnings data on Friday, July 26th. The company reported $0.91 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.87 by $0.04. The business had revenue of $5.06 billion for the quarter, compared to analysts’ expectations of $5 billion. Colgate-Palmolive had a return on equity of 470.19% and a net margin of 14.21%. The company’s revenue for the quarter was up 4.9% on a year-over-year basis. During the same period in the prior year, the firm earned $0.77 EPS. On average, equities analysts predict that Colgate-Palmolive will post 3.57 earnings per share for the current year.

Colgate-Palmolive Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, November 15th. Stockholders of record on Friday, October 18th will be issued a dividend of $0.50 per share. The ex-dividend date of this dividend is Friday, October 18th. This represents a $2.00 annualized dividend and a dividend yield of 2.08%. Colgate-Palmolive’s dividend payout ratio (DPR) is 63.29%.

Insider Activity

In other news, Director Martina Hundmejean sold 2,313 shares of the business’s stock in a transaction that occurred on Friday, August 23rd. The stock was sold at an average price of $103.86, for a total transaction of $240,228.18. Following the transaction, the director now owns 11,755 shares of the company’s stock, valued at approximately $1,220,874.30. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In other news, Director Martina Hundmejean sold 2,313 shares of the business’s stock in a transaction that occurred on Friday, August 23rd. The stock was sold at an average price of $103.86, for a total transaction of $240,228.18. Following the transaction, the director now owns 11,755 shares of the company’s stock, valued at approximately $1,220,874.30. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, EVP Gregory Malcolm sold 10,533 shares of the business’s stock in a transaction that occurred on Tuesday, August 6th. The shares were sold at an average price of $103.10, for a total value of $1,085,952.30. Following the transaction, the executive vice president now directly owns 10,377 shares in the company, valued at approximately $1,069,868.70. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 43,490 shares of company stock valued at $4,486,063. 0.34% of the stock is currently owned by insiders.

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.