LGT Capital Partners LTD. Trims Stock Position in Colgate-Palmolive Company $CL

LGT Capital Partners LTD. reduced its position in shares of Colgate-Palmolive Company (NYSE:CL) by 4.8% in the 3rd quarter, HoldingsChannel reports. The firm owned 765,702 shares of the company’s stock after selling 38,489 shares during the period. Colgate-Palmolive comprises approximately 3.0% of LGT Capital Partners LTD.’s holdings, making the stock its 14th largest position. LGT Capital Partners LTD.’s holdings in Colgate-Palmolive were worth $61,210,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors also recently made changes to their positions in CL. ProShare Advisors LLC increased its position in Colgate-Palmolive by 11.0% during the third quarter. ProShare Advisors LLC now owns 2,047,542 shares of the company’s stock worth $163,681,000 after buying an additional 202,379 shares in the last quarter. Providence Capital Advisors LLC acquired a new stake in Colgate-Palmolive in the 3rd quarter worth about $5,373,000. Asset Management One Co. Ltd. increased its position in Colgate-Palmolive by 3.9% during the third quarter. Asset Management One Co. Ltd. now owns 422,292 shares of the company’s stock worth $33,758,000 after purchasing an additional 16,017 shares during the last quarter. Vanguard Group Inc. grew its position in Colgate-Palmolive by 1.2% during the second quarter. Vanguard Group Inc. now owns 82,751,689 shares of the company’s stock valued at $7,522,129,000 after acquiring an additional 993,432 shares during the period. Finally, TD Waterhouse Canada Inc. lifted its position in Colgate-Palmolive by 248.5% during the third quarter. TD Waterhouse Canada Inc. now owns 87,410 shares of the company’s stock valued at $6,909,000 after buying an additional 62,327 shares in the last quarter. 80.41% of the stock is currently owned by hedge funds and other institutional investors.

Colgate-Palmolive Price Performance

NYSE CL opened at $96.97 on Tuesday. The stock’s 50-day moving average price is $85.96 and its two-hundred day moving average price is $82.34. The company has a market cap of $78.16 billion, a PE ratio of 37.01, a PEG ratio of 4.29 and a beta of 0.29. Colgate-Palmolive Company has a 1 year low of $74.54 and a 1 year high of $100.18. The company has a current ratio of 0.42, a quick ratio of 0.27 and a debt-to-equity ratio of 5.90.

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

Colgate-Palmolive Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, February 13th. Investors of record on Wednesday, January 21st were given a dividend of $0.52 per share. This represents a $2.08 annualized dividend and a yield of 2.1%. The ex-dividend date of this dividend was Wednesday, January 21st. Colgate-Palmolive’s dividend payout ratio (DPR) is presently 79.39%.

Insider Buying and Selling

In other Colgate-Palmolive news, insider Sally Massey sold 15,851 shares of the firm’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 value of $1,506,320.53. Following the sale, the insider owned 13,751 shares of the company’s stock, valued at $1,306,757.53. This trade represents a 53.55% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, COO Panagiotis Tsourapas sold 15,000 shares of the firm’s stock in a transaction on Thursday, February 12th. The stock was sold at an average price of $97.81, for a total transaction of $1,467,150.00. Following the completion of the sale, the chief operating officer owned 10,415 shares in the company, valued at $1,018,691.15. This represents a 59.02% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold 184,683 shares of company stock worth $17,486,693 over the last ninety days. 0.41% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

CL has been the topic of a number of recent research reports. Evercore boosted 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. Piper Sandler boosted their target price on shares of Colgate-Palmolive from $88.00 to $96.00 and gave the stock an “overweight” rating in a research report on Friday, January 30th. Weiss Ratings restated a “hold (c)” rating on shares of Colgate-Palmolive in a research note on Wednesday, January 21st. TD Cowen reaffirmed a “buy” rating on shares of Colgate-Palmolive in a report on Monday, February 2nd. Finally, Bank of America upped their price target on shares of Colgate-Palmolive from $90.00 to $100.00 and gave the stock a “buy” rating in a research report on Monday, February 2nd. Eleven investment analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $94.75.

Colgate-Palmolive 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.