Nordea Investment Management AB Sells 396,545 Shares of Colgate-Palmolive Company $CL

Nordea Investment Management AB reduced its stake in shares of Colgate-Palmolive Company (NYSE:CL) by 7.8% in the fourth quarter, HoldingsChannel reports. The institutional investor owned 4,667,298 shares of the company’s stock after selling 396,545 shares during the period. Nordea Investment Management AB’s holdings in Colgate-Palmolive were worth $370,537,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. American National Bank of Texas lifted its holdings in shares of Colgate-Palmolive by 7.7% in the fourth quarter. American National Bank of Texas now owns 3,315 shares of the company’s stock worth $262,000 after buying an additional 238 shares in the last quarter. Occidental Asset Management LLC purchased a new position in Colgate-Palmolive during the fourth quarter valued at $231,000. Procyon Advisors LLC increased its holdings in Colgate-Palmolive by 135.4% in the 4th quarter. Procyon Advisors LLC now owns 40,444 shares of the company’s stock valued at $3,196,000 after acquiring an additional 23,260 shares during the last quarter. Henrickson Nauta Wealth Advisors Inc. purchased a new stake in Colgate-Palmolive in the 4th quarter worth $237,000. Finally, Everpar Advisors LLC purchased a new stake in Colgate-Palmolive in the 4th quarter worth $290,000. Institutional investors own 80.41% of the company’s stock.

Analyst Ratings Changes

A number of research analysts have recently weighed in on the company. TD Cowen restated a “buy” rating on shares of Colgate-Palmolive in a research report on Monday, February 2nd. Piper Sandler boosted their target price on Colgate-Palmolive from $88.00 to $96.00 and gave the stock an “overweight” rating in a research report on Friday, January 30th. Rothschild & Co Redburn set a $93.00 price target on Colgate-Palmolive in a report on Friday, February 13th. Evercore lifted their price objective on Colgate-Palmolive from $94.00 to $100.00 and gave the stock an “outperform” rating in a research note on Monday, February 2nd. Finally, Deutsche Bank Aktiengesellschaft upped their price objective on Colgate-Palmolive from $83.00 to $90.00 and gave the stock a “hold” rating in a report on Monday, February 2nd. Eleven investment analysts have rated the stock with a Buy rating and six have given a Hold rating to the company. According to data from MarketBeat, Colgate-Palmolive currently has a consensus rating of “Moderate Buy” and an average target price of $94.75.

Insider Buying and Selling

In other Colgate-Palmolive news, insider John Hazlin sold 20,989 shares of Colgate-Palmolive stock in a transaction on Tuesday, February 10th. The shares were sold at an average price of $94.25, for a total transaction of $1,978,213.25. Following the completion of the transaction, the insider directly owned 17,645 shares of the company’s stock, valued at $1,663,041.25. The trade was a 54.33% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, COO Panagiotis Tsourapas sold 35,000 shares of the business’s stock in a transaction on Wednesday, February 11th. The shares were sold at an average price of $94.61, for a total transaction of $3,311,350.00. Following the transaction, the chief operating officer owned 10,415 shares in the company, valued at $985,363.15. This trade represents a 77.07% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last quarter, insiders sold 184,683 shares of company stock worth $17,486,693. 0.34% of the stock is owned by company insiders.

Colgate-Palmolive Stock Down 0.4%

Shares of NYSE CL opened at $85.14 on Friday. The firm’s 50-day moving average price is $91.01 and its 200-day moving average price is $83.36. The company has a current ratio of 0.83, a quick ratio of 0.54 and a debt-to-equity ratio of 18.82. The stock has a market capitalization of $68.62 billion, a price-to-earnings ratio of 32.49, a P/E/G ratio of 3.81 and a beta of 0.28. Colgate-Palmolive Company has a 12-month low of $74.54 and a 12-month high of $99.33.

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

Colgate-Palmolive Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, May 15th. Stockholders of record on Monday, April 20th will be issued a $0.53 dividend. This is a positive change from Colgate-Palmolive’s previous quarterly dividend of $0.52. The ex-dividend date is Monday, April 20th. This represents a $2.12 dividend on an annualized basis and a dividend yield of 2.5%. Colgate-Palmolive’s dividend payout ratio (DPR) is presently 79.39%.

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.