Franklin Resources Inc. Decreases Position in Colgate-Palmolive (NYSE:CL)

Franklin Resources Inc. decreased its stake in Colgate-Palmolive (NYSE:CL) by 5.2% in the third quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 4,763,061 shares of the company’s stock after selling 261,899 shares during the quarter. Franklin Resources Inc.’s holdings in Colgate-Palmolive were worth $479,771,000 at the end of the most recent reporting period.

Other large investors have also recently modified their holdings of the company. Gordian Advisors LLC purchased a new position in Colgate-Palmolive during the third quarter worth $602,000. Carrera Capital Advisors boosted its stake in shares of Colgate-Palmolive by 23.1% during the 3rd quarter. Carrera Capital Advisors now owns 39,170 shares of the company’s stock worth $4,066,000 after purchasing an additional 7,353 shares during the period. Vontobel Holding Ltd. grew its holdings in Colgate-Palmolive by 224.6% during the 3rd quarter. Vontobel Holding Ltd. now owns 795,938 shares of the company’s stock valued at $82,626,000 after purchasing an additional 550,750 shares during the last quarter. Handelsbanken Fonder AB raised its position in Colgate-Palmolive by 10.9% in the 3rd quarter. Handelsbanken Fonder AB now owns 332,972 shares of the company’s stock worth $34,566,000 after purchasing an additional 32,624 shares during the period. Finally, Barclays PLC lifted its stake in Colgate-Palmolive by 38.7% in the third quarter. Barclays PLC now owns 7,644,189 shares of the company’s stock worth $793,542,000 after purchasing an additional 2,132,747 shares during the last quarter. Institutional investors own 80.41% of the company’s stock.

Insider Activity at Colgate-Palmolive

In related news, CFO Stanley J. Sutula III sold 45,410 shares of the business’s stock in a transaction on Tuesday, November 5th. The stock was sold at an average price of $94.11, for a total transaction of $4,273,535.10. Following the transaction, the chief financial officer now directly owns 36,726 shares in the company, valued at $3,456,283.86. The trade was a 55.29 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 0.34% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

CL has been the topic of a number of analyst reports. Deutsche Bank Aktiengesellschaft cut Colgate-Palmolive from a “buy” rating to a “hold” rating and upped their target price for the company from $107.00 to $109.00 in a research note on Monday, September 9th. UBS Group increased their target price on Colgate-Palmolive from $119.00 to $122.00 and gave the stock a “buy” rating in a research note on Wednesday, September 4th. Stifel Nicolaus lowered shares of Colgate-Palmolive from a “buy” rating to a “hold” rating and lowered their target price for the company from $105.00 to $101.00 in a research note on Monday, October 28th. Piper Sandler started coverage on shares of Colgate-Palmolive in a report on Tuesday, September 24th. They issued an “overweight” rating and a $121.00 price target on the stock. Finally, TD Cowen decreased their price objective on shares of Colgate-Palmolive from $115.00 to $110.00 and set a “buy” rating for the company in a report on Monday, October 28th. One investment analyst has rated the stock with a sell rating, nine have given a hold rating and thirteen have issued a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $105.11.

Colgate-Palmolive Price Performance

CL opened at $93.44 on Friday. The firm has a market capitalization of $76.34 billion, a PE ratio of 26.77, a price-to-earnings-growth ratio of 3.31 and a beta of 0.43. The company has a debt-to-equity ratio of 9.46, a current ratio of 1.04 and a quick ratio of 0.68. The business’s 50-day moving average is $95.73 and its two-hundred day moving average is $98.58. Colgate-Palmolive has a 1 year low of $75.50 and a 1 year high of $109.30.

Colgate-Palmolive Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, February 14th. Investors of record on Tuesday, January 21st will be paid a dividend of $0.50 per share. The ex-dividend date of this dividend is Tuesday, January 21st. This represents a $2.00 annualized dividend and a dividend yield of 2.14%. Colgate-Palmolive’s dividend payout ratio (DPR) is presently 57.31%.

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.