Truist Financial Corp Trims Holdings in Colgate-Palmolive (NYSE:CL)

Truist Financial Corp decreased its holdings in Colgate-Palmolive (NYSE:CL) by 0.7% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 228,337 shares of the company’s stock after selling 1,574 shares during the quarter. Truist Financial Corp’s holdings in Colgate-Palmolive were worth $20,758,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of CL. FMR LLC raised its position in Colgate-Palmolive by 65.6% in 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 raised its position in Colgate-Palmolive by 38.7% in the 3rd 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 during the last quarter. State Street Corp raised its position in Colgate-Palmolive by 3.8% during 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 raised its position in Colgate-Palmolive by 32.5% during 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 raised its position in Colgate-Palmolive by 941.9% during 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. Hedge funds and other institutional investors own 80.41% of the company’s stock.

Analyst Ratings Changes

CL has been the subject of a number of analyst reports. Piper Sandler cut their price objective 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. Raymond James restated an “outperform” rating and set a $105.00 price objective (down previously from $110.00) on shares of Colgate-Palmolive in a research report on Monday, February 3rd. Royal Bank of Canada restated a “sector perform” rating and set a $101.00 price objective on shares of Colgate-Palmolive in a research report on Wednesday, January 29th. UBS Group cut their price objective on shares of Colgate-Palmolive from $104.00 to $100.00 and set a “buy” rating for the company in a research report on Monday, February 3rd. Finally, Wells Fargo & Company lowered their price target on shares of Colgate-Palmolive from $92.00 to $83.00 and set an “underweight” rating on the stock in a research note on Tuesday, January 7th. One 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’s stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $101.16.

Colgate-Palmolive Price Performance

Shares of NYSE CL opened at $87.32 on Thursday. The stock has a market cap of $70.86 billion, a price-to-earnings ratio of 24.81, a PEG ratio of 4.10 and a beta of 0.44. Colgate-Palmolive has a 52 week low of $83.70 and a 52 week high of $109.30. The company’s 50-day moving average price is $89.13 and its 200 day moving average price is $96.05. The company has a current ratio of 0.92, a quick ratio of 0.58 and a debt-to-equity ratio of 13.40.

Colgate-Palmolive (NYSE:CL) last released its quarterly earnings results on Friday, January 31st. The company reported $0.91 earnings per share (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 quarter in the previous year, the company posted $0.87 EPS. As a group, research analysts forecast that Colgate-Palmolive will post 3.76 earnings per share for the current fiscal year.

Colgate-Palmolive Dividend Announcement

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

Colgate-Palmolive Company 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.