Allspring Global Investments Holdings LLC Decreases Position in Colgate-Palmolive (NYSE:CL)

Allspring Global Investments Holdings LLC cut its stake in shares of Colgate-Palmolive (NYSE:CL) by 21.5% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 737,004 shares of the company’s stock after selling 201,525 shares during the period. Allspring Global Investments Holdings LLC owned 0.09% of Colgate-Palmolive worth $66,746,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also recently modified their holdings of the business. State Street Corp raised its holdings in shares of Colgate-Palmolive by 3.8% in the third 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 period. Geode Capital Management LLC increased its holdings in Colgate-Palmolive by 2.8% during the 3rd quarter. Geode Capital Management LLC now owns 20,193,331 shares of the company’s stock worth $2,095,325,000 after purchasing an additional 552,949 shares during the period. Massachusetts Financial Services Co. MA raised its position in Colgate-Palmolive by 6.2% during the 3rd quarter. Massachusetts Financial Services Co. MA now owns 9,526,990 shares of the company’s stock valued at $988,997,000 after purchasing an additional 557,492 shares in the last quarter. Barclays PLC lifted its holdings 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 period. Finally, FMR LLC grew 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 worth $700,642,000 after buying an additional 2,674,807 shares in the last quarter. 80.41% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several analysts recently weighed in on the company. UBS Group decreased their price objective on Colgate-Palmolive from $104.00 to $100.00 and set a “buy” rating for the company in a report on Monday, February 3rd. Stifel Nicolaus reduced their price target 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. Raymond James restated an “outperform” rating and issued a $105.00 price target (down previously from $110.00) on shares of Colgate-Palmolive in a report on Monday, February 3rd. TD Cowen reduced their price target on shares of Colgate-Palmolive from $110.00 to $100.00 and set a “buy” rating for the company in a report on Wednesday, January 8th. Finally, Piper Sandler reduced their price target 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. One equities research analyst has rated the stock with a sell rating, ten have issued a hold rating and twelve have assigned a buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $101.16.

Colgate-Palmolive Stock Up 1.3 %

NYSE:CL opened at $87.87 on Friday. The company has a market cap of $71.79 billion, a PE ratio of 24.96, a P/E/G ratio of 4.12 and a beta of 0.44. Colgate-Palmolive has a twelve month low of $82.83 and a twelve month high of $109.30. The company has a current ratio of 0.41, a quick ratio of 0.26 and a debt-to-equity ratio of 9.46. The company’s 50 day moving average is $89.83 and its two-hundred day moving average is $96.54.

Colgate-Palmolive (NYSE:CL) last released its earnings results on Friday, January 31st. The company reported $0.91 earnings per share 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 prior year, the firm posted $0.87 EPS. Analysts anticipate that Colgate-Palmolive will post 3.73 EPS for the current year.

Colgate-Palmolive Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, February 14th. Stockholders of record on Tuesday, January 21st will be issued a $0.50 dividend. This represents a $2.00 annualized dividend and a dividend yield of 2.28%. The ex-dividend date is Tuesday, January 21st. Colgate-Palmolive’s dividend payout ratio (DPR) is currently 56.82%.

About Colgate-Palmolive

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.