Chevy Chase Trust Holdings LLC Reduces Holdings in Colgate-Palmolive Company $CL

Chevy Chase Trust Holdings LLC reduced its position in shares of Colgate-Palmolive Company (NYSE:CL) by 3.6% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 419,880 shares of the company’s stock after selling 15,708 shares during the period. Chevy Chase Trust Holdings LLC’s holdings in Colgate-Palmolive were worth $33,565,000 as of its most recent SEC filing.

A number of other large investors have also added to or reduced their stakes in the company. Brighton Jones LLC boosted its position in Colgate-Palmolive by 4.4% in the 4th quarter. Brighton Jones LLC now owns 10,578 shares of the company’s stock valued at $962,000 after buying an additional 450 shares during the last quarter. Woodline Partners LP increased its position in shares of Colgate-Palmolive by 76.3% during the first quarter. Woodline Partners LP now owns 46,361 shares of the company’s stock worth $4,344,000 after acquiring an additional 20,062 shares during the last quarter. Schnieders Capital Management LLC. lifted its stake in shares of Colgate-Palmolive by 2.0% in the second quarter. Schnieders Capital Management LLC. now owns 12,494 shares of the company’s stock worth $1,136,000 after acquiring an additional 245 shares in the last quarter. SBI Securities Co. Ltd. boosted its holdings in Colgate-Palmolive by 5.8% in the second quarter. SBI Securities Co. Ltd. now owns 3,366 shares of the company’s stock valued at $306,000 after purchasing an additional 185 shares during the last quarter. Finally, Massachusetts Financial Services Co. MA boosted its holdings in Colgate-Palmolive by 2.1% in the second quarter. Massachusetts Financial Services Co. MA now owns 4,485,095 shares of the company’s stock valued at $407,695,000 after purchasing an additional 90,557 shares during the last quarter. 80.41% of the stock is owned by institutional investors and hedge funds.

Colgate-Palmolive Stock Performance

Shares of NYSE CL opened at $88.85 on Monday. Colgate-Palmolive Company has a 1 year low of $74.54 and a 1 year high of $99.33. The firm has a market cap of $71.62 billion, a P/E ratio of 33.91, a PEG ratio of 3.98 and a beta of 0.28. The stock has a fifty day moving average price of $90.11 and a two-hundred day moving average price of $83.22. The company has a debt-to-equity ratio of 18.82, a quick ratio of 0.54 and a current ratio of 0.83.

Colgate-Palmolive (NYSE:CL) last announced its quarterly earnings data on Friday, January 30th. The company reported $0.95 earnings per share for the quarter, beating 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 business had revenue of $5.23 billion during the quarter, compared to analyst estimates of $5.13 billion. During the same quarter in the prior year, the firm posted $0.91 earnings per share. The company’s revenue was up 5.8% on a year-over-year basis. Research analysts forecast that Colgate-Palmolive Company will post 3.75 EPS for the current fiscal year.

Colgate-Palmolive Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, May 15th. Stockholders of record on Monday, April 20th will be given a dividend of $0.53 per share. 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 annualized dividend and a dividend yield of 2.4%. Colgate-Palmolive’s payout ratio is 79.39%.

Wall Street Analysts Forecast Growth

Several equities research analysts have issued reports on the company. Barclays lifted their price objective on Colgate-Palmolive from $83.00 to $88.00 and gave the stock an “equal weight” rating in a report on Tuesday, February 3rd. The Goldman Sachs Group reissued a “buy” rating and set a $100.00 price target on shares of Colgate-Palmolive in a research report on Friday, February 20th. UBS Group lifted their price target on shares of Colgate-Palmolive from $90.00 to $93.00 and gave the stock a “buy” rating in a research note on Wednesday, January 14th. TD Cowen reiterated a “buy” rating on shares of Colgate-Palmolive in a research note on Monday, February 2nd. Finally, Rothschild & Co Redburn set a $93.00 price objective on shares of Colgate-Palmolive in a report on Friday, February 13th. Eleven research analysts have rated the stock with a Buy rating and six have given a Hold rating to the company. According to data from MarketBeat.com, Colgate-Palmolive currently has a consensus rating of “Moderate Buy” and an average price target of $94.75.

Insider Buying and Selling at Colgate-Palmolive

In related news, COO Panagiotis Tsourapas sold 35,000 shares of the firm’s stock in a transaction that occurred 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 completion of the sale, the chief operating officer directly owned 10,415 shares in the company, valued at approximately $985,363.15. This trade represents a 77.07% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider John Hazlin sold 20,989 shares of Colgate-Palmolive stock in a transaction that occurred on Tuesday, February 10th. The stock was 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 owned 17,645 shares in the company, valued at approximately $1,663,041.25. This trade represents a 54.33% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last 90 days, insiders sold 184,683 shares of company stock worth $17,486,693. 0.41% of the stock is currently owned by company insiders.

Colgate-Palmolive Company Profile

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.