Robeco Institutional Asset Management B.V. Lowers Stock Holdings in Colgate

Feb 28, 2024

Robeco Institutional Asset Management B.V. reduced its stake in Colgate-Palmolive (NYSE:CL - Free Report) by 55.7% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 1,546,336 shares of the company's stock after selling 1,941,266 shares during the quarter. Robeco Institutional Asset Management B.V. owned 0.19% of Colgate-Palmolive worth $116,207,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently modified their holdings of CL. Korea Investment CORP boosted its stake in shares of Colgate-Palmolive by 12.6% in the fourth quarter. Korea Investment CORP now owns 771,326 shares of the company's stock valued at $60,773,000 after buying an additional 86,448 shares in the last quarter. Cassaday & Co Wealth Management LLC purchased a new stake in shares of Colgate-Palmolive in the fourth quarter valued at approximately $312,000. TCG Advisory Services LLC purchased a new stake in shares of Colgate-Palmolive in the first quarter valued at approximately $207,000. Mission Wealth Management LP boosted its stake in shares of Colgate-Palmolive by 6.8% in the fourth quarter. Mission Wealth Management LP now owns 3,648 shares of the company's stock valued at $287,000 after buying an additional 232 shares in the last quarter. Finally, International Assets Investment Management LLC boosted its stake in shares of Colgate-Palmolive by 423.6% in the fourth quarter. International Assets Investment Management LLC now owns 28,576 shares of the company's stock valued at $87,000 after buying an additional 23,118 shares in the last quarter. 79.01% of the stock is currently owned by hedge funds and other institutional investors.

In other Colgate-Palmolive news, Director Stephen I. Sadove sold 12,032 shares of the business's stock in a transaction dated Wednesday, May 3rd. The stock was sold at an average price of $81.37, for a total transaction of $979,043.84. Following the completion of the sale, the director now owns 11,866 shares of the company's stock, valued at $965,536.42. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. In other Colgate-Palmolive news, insider Jennifer Daniels sold 24,703 shares of the business's stock in a transaction dated Friday, May 19th. The stock was sold at an average price of $79.70, for a total transaction of $1,968,829.10. Following the completion of the sale, the insider now owns 52,769 shares of the company's stock, valued at $4,205,689.30. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Stephen I. Sadove sold 12,032 shares of the business's stock in a transaction dated Wednesday, May 3rd. The shares were sold at an average price of $81.37, for a total value of $979,043.84. Following the sale, the director now directly owns 11,866 shares of the company's stock, valued at approximately $965,536.42. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 187,748 shares of company stock valued at $15,138,660. Company insiders own 0.34% of the company's stock.

Shares of NYSE:CL traded down $1.52 during midday trading on Friday, reaching $75.59. The company's stock had a trading volume of 10,891,351 shares, compared to its average volume of 4,922,347. The firm has a market cap of $62.71 billion, a price-to-earnings ratio of 39.37, a price-to-earnings-growth ratio of 3.99 and a beta of 0.50. The company has a quick ratio of 0.76, a current ratio of 1.23 and a debt-to-equity ratio of 20.87. Colgate-Palmolive has a 1 year low of $67.84 and a 1 year high of $83.81. The business has a 50 day moving average price of $76.42 and a 200 day moving average price of $75.87.

Colgate-Palmolive (NYSE:CL - Get Free Report) last announced its quarterly earnings data on Friday, July 28th. The company reported $0.77 EPS for the quarter, beating analysts' consensus estimates of $0.75 by $0.02. The business had revenue of $4.82 billion during the quarter, compared to the consensus estimate of $4.70 billion. Colgate-Palmolive had a return on equity of 348.63% and a net margin of 8.71%. The business's revenue for the quarter was up 7.5% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.72 earnings per share. Research analysts forecast that Colgate-Palmolive will post 3.14 EPS for the current year.

The company also recently declared a quarterly dividend, which will be paid on Tuesday, August 15th. Shareholders of record on Friday, July 21st will be given a dividend of $0.48 per share. This represents a $1.92 dividend on an annualized basis and a yield of 2.54%. The ex-dividend date of this dividend is Thursday, July 20th. Colgate-Palmolive's dividend payout ratio (DPR) is presently 100.00%.

Several brokerages recently issued reports on CL. Citigroup lifted their price objective on Colgate-Palmolive from $88.00 to $92.00 in a report on Monday, May 1st. Evercore ISI lifted their price objective on Colgate-Palmolive from $85.00 to $91.00 in a report on Monday, May 1st. StockNews.com cut Colgate-Palmolive from a "buy" rating to a "hold" rating in a report on Sunday, May 28th. Royal Bank of Canada lifted their price objective on Colgate-Palmolive from $82.00 to $83.00 in a report on Monday, May 1st. Finally, Wells Fargo & Company lifted their price objective on Colgate-Palmolive from $76.00 to $81.00 in a report on Monday, May 1st. Four equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average target price of $84.75.

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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