Blue Trust Inc. Acquires 2,927 Shares of Colgate-Palmolive (NYSE:CL)

Blue Trust Inc. raised its stake in shares of Colgate-Palmolive (NYSE:CL - Free Report) by 55.6% in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 8,190 shares of the company's stock after buying an additional 2,927 shares during the quarter. Blue Trust Inc.'s holdings in Colgate-Palmolive were worth $745,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently modified their holdings of CL. FMR LLC boosted its position in shares of Colgate-Palmolive by 65.6% during the 3rd quarter. FMR LLC now owns 6,749,275 shares of the company's stock valued at $700,642,000 after acquiring an additional 2,674,807 shares during the last quarter. Barclays PLC raised its stake in Colgate-Palmolive by 38.7% in the third quarter. Barclays PLC now owns 7,644,189 shares of the company's stock valued at $793,542,000 after purchasing an additional 2,132,747 shares in the last quarter. State Street Corp lifted its position in Colgate-Palmolive by 3.8% during the third quarter. State Street Corp now owns 48,436,276 shares of the company's stock valued at $5,028,170,000 after purchasing an additional 1,784,411 shares during the last quarter. Nordea Investment Management AB lifted its position in Colgate-Palmolive by 32.5% during the fourth quarter. Nordea Investment Management AB now owns 5,091,683 shares of the company's stock valued at $462,121,000 after purchasing an additional 1,247,731 shares during the last quarter. Finally, AustralianSuper Pty Ltd grew its stake in Colgate-Palmolive by 941.9% in the 4th quarter. AustralianSuper Pty Ltd now owns 1,138,655 shares of the company's stock worth $103,515,000 after buying an additional 1,029,364 shares in the last quarter. 80.41% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

CL has been the subject of a number of research analyst reports. Stifel Nicolaus dropped their price objective on shares of Colgate-Palmolive from $95.00 to $93.00 and set a "hold" rating for the company in a report on Monday, February 3rd. Piper Sandler reduced their price objective on Colgate-Palmolive from $121.00 to $112.00 and set an "overweight" rating on the stock in a research report on Monday, January 6th. Wells Fargo & Company dropped their target price on Colgate-Palmolive from $92.00 to $83.00 and set an "underweight" rating for the company in a research report on Tuesday, January 7th. TD Cowen cut their target price on Colgate-Palmolive from $110.00 to $100.00 and set a "buy" rating for the company in a research note on Wednesday, January 8th. Finally, Morgan Stanley decreased their price target on shares of Colgate-Palmolive from $111.00 to $104.00 and set an "overweight" rating on the stock in a research note on Monday, February 3rd. One investment analyst has rated the stock with a sell rating, ten have issued a hold rating and twelve have assigned a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of "Hold" and an average target price of $101.16.

Colgate-Palmolive Trading Up 1.1 %

Shares of CL traded up $0.93 during mid-day trading on Wednesday, hitting $87.32. 4,306,951 shares of the company's stock traded hands, compared to its average volume of 4,940,192. The business's 50-day moving average price is $89.13 and its 200-day moving average price is $96.05. Colgate-Palmolive has a 1 year low of $83.70 and a 1 year high of $109.30. The firm has a market capitalization of $70.86 billion, a P/E ratio of 24.81, a PEG ratio of 4.10 and a beta of 0.44. The company has a quick ratio of 0.58, a current ratio of 0.92 and a debt-to-equity ratio of 13.40.

Colgate-Palmolive (NYSE:CL - Get Free Report) last posted its earnings results on Friday, January 31st. The company reported $0.91 EPS for the quarter, topping the consensus estimate of $0.90 by $0.01. Colgate-Palmolive had a net margin of 14.38% and a return on equity of 477.77%. During the same period in the previous year, the business posted $0.87 earnings per share. As a group, sell-side analysts forecast that Colgate-Palmolive will post 3.76 EPS for the current fiscal year.

Colgate-Palmolive Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, February 14th. Shareholders of record on Tuesday, January 21st were issued a dividend of $0.50 per share. The ex-dividend date was Tuesday, January 21st. This represents a $2.00 dividend on an annualized basis and a dividend yield of 2.29%. Colgate-Palmolive's dividend payout ratio (DPR) is 56.82%.

Colgate-Palmolive Profile

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.