Meyer Handelman Co. Cuts Stock Position in Colgate-Palmolive Company $CL

Meyer Handelman Co. lessened its holdings in shares of Colgate-Palmolive Company (NYSE:CL) by 3.7% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 165,440 shares of the company’s stock after selling 6,300 shares during the quarter. Meyer Handelman Co.’s holdings in Colgate-Palmolive were worth $13,073,000 at the end of the most recent quarter.

A number of other hedge funds have also modified their holdings of the business. S.A. Mason LLC lifted its stake in Colgate-Palmolive by 3.9% during the third quarter. S.A. Mason LLC now owns 3,499 shares of the company’s stock worth $280,000 after purchasing an additional 130 shares in the last quarter. Security National Bank of Sioux City Iowa IA boosted its holdings in Colgate-Palmolive by 0.8% in the third quarter. Security National Bank of Sioux City Iowa IA now owns 16,241 shares of the company’s stock valued at $1,298,000 after purchasing an additional 130 shares during the period. Stratos Wealth Advisors LLC boosted its stake in shares of Colgate-Palmolive by 4.5% in the 3rd quarter. Stratos Wealth Advisors LLC now owns 3,015 shares of the company’s stock valued at $241,000 after buying an additional 130 shares during the period. Chicago Partners Investment Group LLC grew its holdings in Colgate-Palmolive by 1.5% during the 3rd quarter. Chicago Partners Investment Group LLC now owns 9,387 shares of the company’s stock worth $724,000 after acquiring an additional 136 shares in the last quarter. Finally, Cary Street Partners Investment Advisory LLC grew its stake in shares of Colgate-Palmolive by 17.7% during the second quarter. Cary Street Partners Investment Advisory LLC now owns 911 shares of the company’s stock worth $83,000 after purchasing an additional 137 shares in the last quarter. 80.41% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, insider Sally Massey sold 15,851 shares of the stock in a transaction dated Thursday, February 5th. The stock was sold at an average price of $95.03, for a total value of $1,506,320.53. Following the completion of the transaction, the insider owned 13,751 shares of the company’s stock, valued at approximately $1,306,757.53. This represents a 53.55% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, insider John Hazlin sold 20,989 shares of the stock in a transaction that occurred on Tuesday, February 10th. The shares were sold at an average price of $94.25, for a total value of $1,978,213.25. Following the transaction, the insider owned 17,645 shares of the company’s stock, valued at approximately $1,663,041.25. This trade represents a 54.33% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last quarter, insiders sold 184,683 shares of company stock valued at $17,486,693. Insiders own 0.41% of the company’s stock.

Analyst Upgrades and Downgrades

CL has been the subject of several research analyst reports. Morgan Stanley upped their price objective on shares of Colgate-Palmolive from $87.00 to $100.00 and gave the company an “overweight” rating in a research note on Monday, February 2nd. JPMorgan Chase & Co. raised their price target on Colgate-Palmolive from $93.00 to $97.00 and gave the stock an “overweight” rating in a report on Monday, February 2nd. Piper Sandler boosted their target price on Colgate-Palmolive from $88.00 to $96.00 and gave the company an “overweight” rating in a report on Friday, January 30th. Rothschild & Co Redburn set a $93.00 target price on shares of Colgate-Palmolive in a research note on Friday, February 13th. Finally, Wall Street Zen downgraded shares of Colgate-Palmolive from a “buy” rating to a “hold” rating in a research report on Sunday. Eleven investment analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the stock. According to MarketBeat, Colgate-Palmolive currently has an average rating of “Moderate Buy” and a consensus target price of $95.19.

Colgate-Palmolive Trading Down 0.5%

Shares of CL stock opened at $85.31 on Wednesday. The company has a debt-to-equity ratio of 18.82, a current ratio of 0.83 and a quick ratio of 0.54. The firm has a market cap of $68.44 billion, a P/E ratio of 32.56, a PEG ratio of 3.84 and a beta of 0.28. Colgate-Palmolive Company has a 1-year low of $74.54 and a 1-year high of $99.33. The firm’s 50-day simple moving average is $91.13 and its 200-day simple moving average is $83.40.

Colgate-Palmolive (NYSE:CL) last issued its earnings results on Friday, January 30th. The company reported $0.95 earnings per share for the quarter, topping the consensus estimate of $0.91 by $0.04. The business had revenue of $5.23 billion for the quarter, compared to analyst estimates of $5.13 billion. Colgate-Palmolive had a return on equity of 353.72% and a net margin of 10.45%.The business’s quarterly revenue was up 5.8% on a year-over-year basis. During the same period last year, the company posted $0.91 EPS. As a group, equities analysts forecast that Colgate-Palmolive Company will post 3.75 EPS for the current year.

Colgate-Palmolive Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, May 15th. Shareholders of record on Monday, April 20th will be paid a dividend of $0.53 per share. This is a boost from Colgate-Palmolive’s previous quarterly dividend of $0.52. This represents a $2.12 dividend on an annualized basis and a dividend yield of 2.5%. The ex-dividend date is Monday, April 20th. Colgate-Palmolive’s payout ratio is presently 80.92%.

About Colgate-Palmolive

Colgate-Palmolive Company is a global consumer products company with a long history in household and personal care categories. The business traces its roots to the early 19th century and has evolved into a multinational manufacturer and marketer of everyday consumer goods focused on health, hygiene and home care.

The company’s core activities center on oral care, personal care, home care and pet nutrition. Its product portfolio includes toothpaste, toothbrushes and mouthwash in oral care; soaps, body washes and deodorants in personal care; dishwashing liquids, surface cleaners and other household products in home care; and scientifically formulated pet foods under its pet nutrition business.