Colgate-Palmolive Company $CL Shares Sold by Pictet Asset Management Holding SA

Pictet Asset Management Holding SA cut its position in shares of Colgate-Palmolive Company (NYSE:CL) by 39.8% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 429,702 shares of the company’s stock after selling 283,524 shares during the quarter. Pictet Asset Management Holding SA’s holdings in Colgate-Palmolive were worth $36,662,000 at the end of the most recent reporting period.

Several other large investors also recently modified their holdings of CL. Virginia Estate & Retirement Planning Advisors Inc. raised its stake in Colgate-Palmolive by 1,409.1% during the third quarter. Virginia Estate & Retirement Planning Advisors Inc. now owns 332 shares of the company’s stock worth $28,000 after buying an additional 310 shares during the last quarter. Parvin Asset Management LLC bought a new stake in Colgate-Palmolive during the second quarter valued at $32,000. Park Place Capital Corp boosted its position in Colgate-Palmolive by 55.5% during the second quarter. Park Place Capital Corp now owns 356 shares of the company’s stock valued at $33,000 after acquiring an additional 127 shares during the last quarter. Gould Capital LLC grew its holdings in Colgate-Palmolive by 38.7% during the 1st quarter. Gould Capital LLC now owns 412 shares of the company’s stock worth $35,000 after acquiring an additional 115 shares during the period. Finally, Montgomery Financial Services LLC acquired a new stake in Colgate-Palmolive during the 2nd quarter worth about $36,000. 80.41% of the stock is currently owned by institutional investors and hedge funds.

Colgate-Palmolive Stock Up 0.0%

Colgate-Palmolive stock opened at $97.95 on Wednesday. The company has a quick ratio of 0.63, a current ratio of 0.96 and a debt-to-equity ratio of 11.23. Colgate-Palmolive Company has a 12-month low of $75.96 and a 12-month high of $101.18. The firm’s fifty day moving average is $90.42 and its 200 day moving average is $90.10. The company has a market capitalization of $77.86 billion, a PE ratio of 38.41, a PEG ratio of 4.43 and a beta of 0.31.

Colgate-Palmolive (NYSE:CL) last issued its earnings results on Friday, October 30th. The company reported $0.97 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.93 by $0.04. The business had revenue of $5.37 billion for the quarter, compared to analyst estimates of $5.34 billion. Colgate-Palmolive had a net margin of 9.65% and a return on equity of 607.88%. Colgate-Palmolive’s revenue was up 4.6% on a year-over-year basis. During the same period in the prior year, the firm earned $0.91 earnings per share. As a group, sell-side analysts predict that Colgate-Palmolive Company will post 3.92 EPS for the current fiscal year.

Colgate-Palmolive Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, November 13th. Stockholders of record on Tuesday, October 20th will be issued a dividend of $0.53 per share. The ex-dividend date is Tuesday, October 20th. This represents a $2.12 annualized dividend and a dividend yield of 2.2%. Colgate-Palmolive’s dividend payout ratio is currently 83.14%.

Insider Activity

In other news, insider John Hazlin sold 23,376 shares of the firm’s stock in a transaction dated Wednesday, November 4th. The stock was sold at an average price of $99.15, for a total value of $2,317,730.40. Following the completion of the sale, the insider directly owned 27,021 shares in the company, valued at $2,679,132.15. This trade represents a 46.38% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, COO Panagiotis Tsourapas sold 19,938 shares of the business’s stock in a transaction dated Wednesday, November 4th. The shares were sold at an average price of $98.74, for a total value of $1,968,678.12. Following the completion of the sale, the chief operating officer directly owned 9,111 shares of the company’s stock, valued at $899,620.14. The trade was a 68.64% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Over the last 90 days, insiders have sold 73,314 shares of company stock worth $7,212,109. Company insiders own 0.43% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on CL shares. UBS Group lifted their price objective on Colgate-Palmolive from $106.00 to $112.00 and gave the stock a “buy” rating in a research report on Monday, November 2nd. Wells Fargo & Company upped their target price on Colgate-Palmolive from $90.00 to $95.00 and gave the company an “equal weight” rating in a research report on Monday, November 2nd. Raymond James Financial raised their target price on Colgate-Palmolive from $100.00 to $102.00 and gave the stock an “outperform” rating in a research note on Monday, August 3rd. TD Cowen raised their target price on Colgate-Palmolive from $90.00 to $97.00 and gave the stock a “hold” rating in a research note on Monday, November 2nd. Finally, Bank of America lifted their target price on Colgate-Palmolive from $100.00 to $105.00 and gave the stock a “buy” rating in a report on Monday, November 2nd. Thirteen analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the company. Based on data from MarketBeat.com, Colgate-Palmolive has an average rating of “Moderate Buy” and a consensus target price of $101.22.

Colgate-Palmolive Profile

Colgate-Palmolive is a global consumer products company whose business spans oral care, personal care, home care and pet nutrition. Its products include toothpaste, toothbrushes, mouthwashes, soaps, shampoos, cleaning products and pet food. The company’s best-known brands include Colgate, Palmolive, elmex, Softsoap, Ajax and Hill’s Pet Nutrition. It sells products through retail and other channels in markets around the world. Founded in 1806 by William Colgate as a soap and candle business in New York City, the company has grown into an international manufacturer of household and personal care products.