Colgate-Palmolive (NYSE:CL) Shares Sold by Corebridge Financial Inc.

Corebridge Financial Inc. trimmed its position in Colgate-Palmolive (NYSE:CL) by 2.6% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 193,762 shares of the company’s stock after selling 5,098 shares during the quarter. Corebridge Financial Inc.’s holdings in Colgate-Palmolive were worth $17,615,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently modified their holdings of CL. Congress Wealth Management LLC DE raised its holdings in shares of Colgate-Palmolive by 5.9% during the fourth quarter. Congress Wealth Management LLC DE now owns 159,069 shares of the company’s stock worth $14,461,000 after purchasing an additional 8,792 shares during the last quarter. Dillon & Associates Inc. raised its stake in shares of Colgate-Palmolive by 0.5% during the 4th quarter. Dillon & Associates Inc. now owns 31,104 shares of the company’s stock valued at $2,830,000 after buying an additional 150 shares during the last quarter. Vanguard Group Inc. raised its stake in shares of Colgate-Palmolive by 0.7% during the 4th quarter. Vanguard Group Inc. now owns 81,303,059 shares of the company’s stock valued at $7,391,261,000 after buying an additional 588,230 shares during the last quarter. Blueprint Investment Partners LLC lifted its holdings in shares of Colgate-Palmolive by 57.5% in the 4th quarter. Blueprint Investment Partners LLC now owns 3,871 shares of the company’s stock valued at $352,000 after buying an additional 1,413 shares during the period. Finally, Guardian Partners Inc. purchased a new stake in shares of Colgate-Palmolive in the fourth quarter worth about $306,000. Institutional investors and hedge funds own 80.41% of the company’s stock.

Colgate-Palmolive Stock Performance

Shares of NYSE:CL opened at $90.91 on Tuesday. 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 1 year low of $85.32 and a 1 year high of $109.30. The firm has a market capitalization of $73.78 billion, a PE ratio of 25.83, a P/E/G ratio of 4.20 and a beta of 0.40. The business’s 50 day moving average price is $89.40 and its 200-day moving average price is $93.95.

Colgate-Palmolive (NYSE:CL) last announced its 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 firm posted $0.87 EPS. As a group, equities research analysts expect that Colgate-Palmolive will post 3.75 earnings per share for the current fiscal year.

Colgate-Palmolive Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, May 15th. Investors of record on Thursday, April 17th will be paid a dividend of $0.52 per share. This represents a $2.08 annualized dividend and a yield of 2.29%. The ex-dividend date is Thursday, April 17th. This is a boost from Colgate-Palmolive’s previous quarterly dividend of $0.50. Colgate-Palmolive’s dividend payout ratio is currently 56.82%.

Colgate-Palmolive declared that its Board of Directors has authorized a stock buyback program on Thursday, March 20th that authorizes the company to buyback $5.00 billion in outstanding shares. This buyback authorization authorizes the company to purchase up to 6.8% of its stock through open market purchases. Stock buyback programs are often an indication that the company’s board of directors believes its stock is undervalued.

Analyst Ratings Changes

Several brokerages recently weighed in on CL. Wells Fargo & Company reduced their price target 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. Piper Sandler cut their target price on shares of Colgate-Palmolive from $121.00 to $112.00 and set an “overweight” rating for the company in a report on Monday, January 6th. JPMorgan Chase & Co. increased their price target on shares of Colgate-Palmolive from $97.00 to $99.00 and gave the stock an “overweight” rating in a report on Friday, March 14th. Morgan Stanley cut their price objective on shares of Colgate-Palmolive from $111.00 to $104.00 and set an “overweight” rating for the company in a report on Monday, February 3rd. Finally, TD Cowen decreased their price objective on shares of Colgate-Palmolive from $110.00 to $100.00 and set a “buy” rating for the company in a research report on Wednesday, January 8th. One research analyst has rated the stock with a sell rating, ten have given a hold rating and eleven have issued a buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $101.72.

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.