Mirae Asset Global Investments Co. Ltd. Decreases Position in Colgate-Palmolive (NYSE:CL)

Posted by Defense World Staff on Aug 5th, 2023

Mirae Asset Global Investments Co. Ltd. lessened its holdings in Colgate-Palmolive (NYSE:CL – Free Report) by 3.7% during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 244,229 shares of the company’s stock after selling 9,513 shares during the quarter. Mirae Asset Global Investments Co. Ltd.’s holdings in Colgate-Palmolive were worth $18,354,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors also recently added to or reduced their stakes in the company. Capital Advisors Ltd. LLC grew its holdings in Colgate-Palmolive by 36.4% in the 4th quarter. Capital Advisors Ltd. LLC now owns 704 shares of the company’s stock worth $33,000 after acquiring an additional 188 shares during the last quarter. WFA of San Diego LLC bought a new stake in Colgate-Palmolive in the 4th quarter worth $35,000. Arcus Capital Partners LLC bought a new stake in Colgate-Palmolive in the 4th quarter worth $39,000. Kepos Capital LP bought a new stake in shares of Colgate-Palmolive during the 4th quarter valued at about $40,000. Finally, US Asset Management LLC bought a new stake in shares of Colgate-Palmolive during the 4th quarter valued at about $41,000. Hedge funds and other institutional investors own 79.01% of the company’s stock.

Colgate-Palmolive Stock Down 0.4 %

Shares of Colgate-Palmolive stock opened at $76.26 on Friday. The company has a debt-to-equity ratio of 20.87, a quick ratio of 0.25 and a current ratio of 0.40. The stock has a market capitalization of $63.04 billion, a PE ratio of 42.37, a price-to-earnings-growth ratio of 3.30 and a beta of 0.49. Colgate-Palmolive has a 52-week low of $67.84 and a 52-week high of $83.81. The company has a 50-day simple moving average of $76.40 and a two-hundred day simple moving average of $75.84.

Colgate-Palmolive (NYSE:CL – Get Free Report) last issued its earnings results on Friday, July 28th. The company reported $0.77 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.75 by $0.02. The business had revenue of $4.82 billion during the quarter, compared to analysts’ expectations of $4.70 billion. Colgate-Palmolive had a net margin of 8.02% and a return on equity of 386.76%. The business’s revenue for the quarter was up 7.5% compared to the same quarter last year. During the same period in the previous year, the company earned $0.72 earnings per share. On average, analysts anticipate that Colgate-Palmolive will post 3.16 EPS for the current fiscal year.

Colgate-Palmolive Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, August 15th. Shareholders of record on Friday, July 21st will be issued a $0.48 dividend. The ex-dividend date is Thursday, July 20th. This represents a $1.92 annualized dividend and a yield of 2.52%. Colgate-Palmolive’s dividend payout ratio (DPR) is presently 106.67%.

Analyst Ratings Changes

A number of equities research analysts have recently weighed in on the stock. Bank of America lifted their target price on shares of Colgate-Palmolive from $80.00 to $85.00 in a research note on Monday, May 1st. StockNews.com raised shares of Colgate-Palmolive from a “hold” rating to a “buy” rating in a research note on Monday, July 31st. Deutsche Bank Aktiengesellschaft lifted their target price on shares of Colgate-Palmolive from $88.00 to $91.00 and gave the company a “buy” rating in a research note on Monday, July 31st. Evercore ISI lifted their target price on shares of Colgate-Palmolive from $85.00 to $91.00 in a research note on Monday, May 1st. Finally, Citigroup boosted their price objective on shares of Colgate-Palmolive from $88.00 to $92.00 in a research note on Monday, May 1st. Four investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. According to data from MarketBeat, Colgate-Palmolive currently has a consensus rating of “Moderate Buy” and a consensus price target of $85.33.

Insiders Place Their Bets

In other news, insider John W. Kooyman sold 21,677 shares of the business’s stock in a transaction that occurred on Wednesday, August 2nd. The shares were sold at an average price of $77.69, for a total transaction of $1,684,086.13. Following the completion of the transaction, the insider now directly owns 6,384 shares of the company’s stock, valued at $495,972.96. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, insider Prabha Parameswaran sold 64,373 shares of the business’s stock in a transaction that occurred on Monday, May 8th. The shares were sold at an average price of $80.58, for a total transaction of $5,187,176.34. Following the completion of the transaction, the insider now directly owns 12,427 shares of the company’s stock, valued at $1,001,367.66. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider John W. Kooyman sold 21,677 shares of the business’s stock in a transaction that occurred on Wednesday, August 2nd. The shares were sold at an average price of $77.69, for a total transaction of $1,684,086.13. Following the transaction, the insider now directly owns 6,384 shares of the company’s stock, valued at $495,972.96. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 180,154 shares of company stock valued at $14,444,585. Insiders own 0.34% of the company’s stock.

Colgate-Palmolive Company Profile

(Free Report)

Colgate-Palmolive Company, together with its subsidiaries, manufactures and sells consumer products worldwide. The company 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.

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Institutional Ownership by Quarter for Colgate-Palmolive (NYSE:CL)

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