First Trust Direct Indexing L.P. Sells 1,164 Shares of Colgate-Palmolive (NYSE:CL)

First Trust Direct Indexing L.P. lowered its position in Colgate-Palmolive (NYSE:CL) by 3.9% during the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 29,054 shares of the company’s stock after selling 1,164 shares during the period. First Trust Direct Indexing L.P.’s holdings in Colgate-Palmolive were worth $2,616,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Truist Financial Corp lifted its holdings in shares of Colgate-Palmolive by 13.2% in the third quarter. Truist Financial Corp now owns 322,496 shares of the company’s stock valued at $22,933,000 after purchasing an additional 37,564 shares in the last quarter. Advisors Asset Management Inc. lifted its holdings in shares of Colgate-Palmolive by 29.1% in the third quarter. Advisors Asset Management Inc. now owns 7,027 shares of the company’s stock valued at $500,000 after purchasing an additional 1,586 shares in the last quarter. AXQ Capital LP bought a new position in shares of Colgate-Palmolive in the third quarter valued at approximately $420,000. Ameriprise Financial Inc. lifted its holdings in Colgate-Palmolive by 25.8% during the third quarter. Ameriprise Financial Inc. now owns 1,878,062 shares of the company’s stock worth $131,558,000 after acquiring an additional 385,249 shares during the period. Finally, KPP Advisory Services LLC bought a new stake in Colgate-Palmolive during the third quarter worth $654,000. Institutional investors own 80.41% of the company’s stock.

Insiders Place Their Bets

In other Colgate-Palmolive news, insider John W. Kooyman sold 3,497 shares of Colgate-Palmolive stock in a transaction dated Tuesday, May 7th. The stock was sold at an average price of $93.47, for a total transaction of $326,864.59. Following the completion of the sale, the insider now owns 3,181 shares of the company’s stock, valued at $297,328.07. The sale was disclosed in a filing with the SEC, which is available at the SEC website. In other news, insider Sally Massey sold 12,226 shares of the business’s stock in a transaction dated Thursday, May 9th. The stock was sold at an average price of $94.06, for a total value of $1,149,977.56. Following the completion of the sale, the insider now owns 13,924 shares of the company’s stock, valued at approximately $1,309,691.44. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, insider John W. Kooyman sold 3,497 shares of the business’s stock in a transaction dated Tuesday, May 7th. The shares were sold at an average price of $93.47, for a total value of $326,864.59. Following the completion of the sale, the insider now directly owns 3,181 shares of the company’s stock, valued at approximately $297,328.07. The disclosure for this sale can be found here. Corporate insiders own 0.37% of the company’s stock.

Colgate-Palmolive Price Performance

Colgate-Palmolive stock opened at $95.89 on Friday. Colgate-Palmolive has a 52 week low of $67.62 and a 52 week high of $99.08. The business has a 50-day simple moving average of $94.44 and a 200 day simple moving average of $88.01. The company has a quick ratio of 0.70, a current ratio of 1.06 and a debt-to-equity ratio of 13.21. The stock has a market cap of $78.67 billion, a price-to-earnings ratio of 30.35, a PEG ratio of 3.53 and a beta of 0.39.

Colgate-Palmolive (NYSE:CL) last posted its earnings results on Friday, April 26th. The company reported $0.86 EPS for the quarter, topping the consensus estimate of $0.82 by $0.04. Colgate-Palmolive had a return on equity of 485.40% and a net margin of 13.22%. The business had revenue of $5.07 billion during the quarter, compared to analysts’ expectations of $4.96 billion. During the same period in the previous year, the business earned $0.73 earnings per share. The firm’s revenue was up 6.2% on a year-over-year basis. On average, research analysts forecast that Colgate-Palmolive will post 3.53 earnings per share for the current fiscal year.

Colgate-Palmolive Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, August 15th. Shareholders of record on Friday, July 19th will be paid a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a yield of 2.09%. The ex-dividend date is Friday, July 19th. Colgate-Palmolive’s dividend payout ratio (DPR) is currently 63.29%.

Analysts Set New Price Targets

CL has been the topic of a number of recent analyst reports. Stifel Nicolaus lifted their price target on Colgate-Palmolive from $94.00 to $95.00 and gave the stock a “buy” rating in a report on Monday, April 29th. Bank of America lifted their price target on Colgate-Palmolive from $90.00 to $100.00 and gave the stock a “buy” rating in a report on Monday, April 29th. Wells Fargo & Company lifted their price target on Colgate-Palmolive from $90.00 to $92.00 and gave the stock an “equal weight” rating in a report on Monday, April 29th. Royal Bank of Canada lifted their price target on Colgate-Palmolive from $88.00 to $95.00 and gave the stock a “sector perform” rating in a report on Monday, April 29th. Finally, Evercore ISI lifted their price target on Colgate-Palmolive from $90.00 to $96.00 and gave the stock an “outperform” rating in a report on Monday, April 8th. Three analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $93.83.

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.