State of New Jersey Common Pension Fund D Trims Stock Holdings in Colgate-Palmolive (NYSE:CL)

State of New Jersey Common Pension Fund D trimmed its position in Colgate-Palmolive (NYSE:CL - Free Report) by 2.5% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 277,006 shares of the company's stock after selling 7,138 shares during the period. State of New Jersey Common Pension Fund D's holdings in Colgate-Palmolive were worth $25,183,000 at the end of the most recent quarter.

A number of other hedge funds have also added to or reduced their stakes in CL. FMR LLC boosted its stake in 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 purchasing an additional 2,674,807 shares during the last quarter. Barclays PLC boosted its stake in shares of Colgate-Palmolive by 38.7% in the 3rd quarter. Barclays PLC now owns 7,644,189 shares of the company's stock worth $793,542,000 after buying an additional 2,132,747 shares during the last quarter. State Street Corp boosted its stake in shares of Colgate-Palmolive by 3.8% in the 3rd quarter. State Street Corp now owns 48,436,276 shares of the company's stock worth $5,028,170,000 after buying an additional 1,784,411 shares during the last quarter. Nordea Investment Management AB boosted its stake in shares of Colgate-Palmolive by 32.5% in the 4th quarter. Nordea Investment Management AB now owns 5,091,683 shares of the company's stock worth $462,121,000 after buying an additional 1,247,731 shares during the last quarter. Finally, AustralianSuper Pty Ltd boosted its stake in shares of 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 during the last quarter. Institutional investors and hedge funds own 80.41% of the company's stock.

Colgate-Palmolive Stock Performance

Colgate-Palmolive stock traded up $0.38 during mid-day trading on Thursday, reaching $87.80. 3,252,724 shares of the stock traded hands, compared to its average volume of 4,889,062. The stock has a market capitalization of $71.25 billion, a PE ratio of 24.94, a price-to-earnings-growth ratio of 4.12 and a beta of 0.44. The company has a debt-to-equity ratio of 13.40, a current ratio of 0.92 and a quick ratio of 0.58. Colgate-Palmolive has a 12-month low of $84.45 and a 12-month high of $109.30. The business's 50-day moving average is $89.13 and its 200-day moving average is $96.05.

Colgate-Palmolive (NYSE:CL - Get Free Report) last posted its quarterly earnings data on Friday, January 31st. The company reported $0.91 EPS for the quarter, beating analysts' consensus estimates 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 previous year, the firm earned $0.87 earnings per share. As a group, sell-side analysts predict that Colgate-Palmolive will post 3.76 EPS for the current fiscal year.

Colgate-Palmolive Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, February 14th. Shareholders of record on Tuesday, January 21st were given a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a yield of 2.28%. The ex-dividend date was Tuesday, January 21st. Colgate-Palmolive's payout ratio is 56.82%.

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on the company. Piper Sandler decreased their price objective on Colgate-Palmolive from $121.00 to $112.00 and set an "overweight" rating for the company in a report on Monday, January 6th. Barclays dropped their price target on Colgate-Palmolive from $96.00 to $83.00 and set an "equal weight" rating for the company in a research report on Friday, January 17th. Royal Bank of Canada restated a "sector perform" rating and issued a $101.00 target price on shares of Colgate-Palmolive in a research report on Wednesday, January 29th. Morgan Stanley dropped their target price on Colgate-Palmolive from $111.00 to $104.00 and set an "overweight" rating for the company in a research report on Monday, February 3rd. Finally, StockNews.com cut Colgate-Palmolive from a "buy" rating to a "hold" rating in a research note on Thursday, January 9th. One equities research analyst has rated the stock with a sell rating, ten have given a hold rating and twelve have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and an average target price of $101.16.

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.