Colgate-Palmolive Company $CL Shares Sold by PineStone Asset Management Inc.

PineStone Asset Management Inc. decreased its position in shares of Colgate-Palmolive Company (NYSE:CL) by 0.9% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund owned 1,590,289 shares of the company’s stock after selling 13,800 shares during the quarter. Colgate-Palmolive makes up about 0.8% of PineStone Asset Management Inc.’s holdings, making the stock its 26th largest position. PineStone Asset Management Inc. owned 0.20% of Colgate-Palmolive worth $125,665,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also made changes to their positions in the company. Copia Wealth Management purchased a new position in Colgate-Palmolive during the 3rd quarter worth approximately $29,000. Cloud Capital Management LLC purchased a new stake in Colgate-Palmolive in the third quarter valued at approximately $30,000. Global Wealth Strategies & Associates boosted its holdings in shares of Colgate-Palmolive by 300.0% in the fourth quarter. Global Wealth Strategies & Associates now owns 400 shares of the company’s stock valued at $32,000 after acquiring an additional 300 shares during the period. Grove Bank & Trust grew its position in shares of Colgate-Palmolive by 182.6% during the fourth quarter. Grove Bank & Trust now owns 407 shares of the company’s stock worth $32,000 after acquiring an additional 263 shares during the last quarter. Finally, Kelleher Financial Advisors purchased a new position in shares of Colgate-Palmolive during the third quarter worth approximately $35,000. 80.41% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other Colgate-Palmolive news, insider Sally Massey sold 15,851 shares of the business’s stock in a transaction that occurred on Thursday, February 5th. The stock was sold at an average price of $95.03, for a total transaction of $1,506,320.53. Following the transaction, the insider owned 13,751 shares in the company, valued at approximately $1,306,757.53. The trade was a 53.55% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CFO Stanley J. Sutula III sold 97,843 shares of the firm’s stock in a transaction that occurred on Wednesday, February 4th. The shares were sold at an average price of $94.27, for a total value of $9,223,659.61. Following the completion of the sale, the chief financial officer directly owned 55,310 shares of the company’s stock, valued at $5,214,073.70. This represents a 63.89% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last ninety days, insiders sold 184,683 shares of company stock valued at $17,486,693. Company insiders own 0.41% of the company’s stock.

Colgate-Palmolive Price Performance

Shares of NYSE CL opened at $85.31 on Wednesday. The stock has a fifty day moving average price of $91.13 and a 200 day moving average price of $83.40. Colgate-Palmolive Company has a 1-year low of $74.54 and a 1-year high of $99.33. 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 company has a market cap of $68.44 billion, a PE ratio of 32.56, a P/E/G ratio of 3.84 and a beta of 0.28.

Colgate-Palmolive (NYSE:CL) last announced its quarterly earnings data on Friday, January 30th. The company reported $0.95 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.91 by $0.04. Colgate-Palmolive had a net margin of 10.45% and a return on equity of 353.72%. The company had revenue of $5.23 billion for the quarter, compared to analysts’ expectations of $5.13 billion. During the same period in the previous year, the company posted $0.91 EPS. Colgate-Palmolive’s revenue was up 5.8% compared to the same quarter last year. Sell-side analysts forecast that Colgate-Palmolive Company will post 3.75 EPS for the current year.

Colgate-Palmolive Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, May 15th. Investors of record on Monday, April 20th will be issued a dividend of $0.53 per share. This is an increase from Colgate-Palmolive’s previous quarterly dividend of $0.52. This represents a $2.12 annualized dividend and a yield of 2.5%. The ex-dividend date of this dividend is Monday, April 20th. Colgate-Palmolive’s dividend payout ratio is currently 80.92%.

Analysts Set New Price Targets

Several research firms recently commented on CL. Morgan Stanley upped their price target on shares of Colgate-Palmolive from $87.00 to $100.00 and gave the company an “overweight” rating in a research report on Monday, February 2nd. UBS Group raised their price objective on shares of Colgate-Palmolive from $90.00 to $93.00 and gave the stock a “buy” rating in a research report on Wednesday, January 14th. Deutsche Bank Aktiengesellschaft upgraded shares of Colgate-Palmolive from a “hold” rating to a “buy” rating and lifted their price objective for the company from $90.00 to $98.00 in a research note on Monday. Wells Fargo & Company upped their target price on shares of Colgate-Palmolive from $86.00 to $94.00 and gave the company an “equal weight” rating in a report on Sunday, February 1st. Finally, Evercore raised their price target on Colgate-Palmolive from $94.00 to $100.00 and gave the stock an “outperform” rating in a report on Monday, February 2nd. Eleven investment analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $95.19.

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.