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Sarasin & Partners increased its Colgate-Palmolive stake to 4.2 million shares, worth $338 million, as the company beat earnings estimates and maintained strong profitability.
Sarasin & Partners LLP boosted its stake in Colgate-Palmolive by 2.5% in Q3, now holding 4.2 million shares worth $338 million, making it the firm’s eighth-largest holding.
The company reported Q3 earnings of $0.91 per share, beating estimates by $0.02, with revenue of $5.13 billion, up 1.9% year-over-year.
Despite slightly missing revenue forecasts, Colgate-Palmolive posted a 333.39% return on equity and a 14.47% net margin.
Analysts maintain a "Moderate Buy" consensus with a $88.81 target.
The stock, trading around $78.50, has a 2.6% dividend yield and a low beta of 0.30, reflecting stability.
A quarterly dividend of $0.52 is set for February 13.
Sarasin & Partners aumentó su participación en Colgate-Palmolive a 4.2 millones de acciones, por valor de $338 millones, ya que la compañía superó las estimaciones de ganancias y mantuvo una fuerte rentabilidad.