Annex Advisory Services LLC Sells 98,101 Shares of Colgate-Palmolive Company $CL

Key Points

• Annex Advisory Services LLC cut its stake in Colgate-Palmolive by 92.5%, selling 98,101 shares in Q4 and now holds 7,967 shares valued at $630,000 per its SEC filing.
• Company insiders have been active sellers—insiders sold 184,683 shares (about $17.49M) over the past 90 days, including large reductions by Sally Massey and John Hazlin.
• Colgate recently beat quarterly estimates (EPS $0.95 vs. $0.91; revenue $5.23B), raised its quarterly dividend to $0.53 (annual $2.12, yield 2.5%), and carries an average analyst rating of "Moderate Buy" with a $95.56 price target.

Annex Advisory Services LLC cut its holdings in shares of Colgate-Palmolive Company (NYSE:CL - Free Report) by 92.5% during the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 7,967 shares of the company's stock after selling 98,101 shares during the period. Annex Advisory Services LLC's holdings in Colgate-Palmolive were worth $630,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently modified their holdings of CL. Maseco LLP acquired a new stake in Colgate-Palmolive in the fourth quarter valued at approximately $27,000. Copia Wealth Management acquired a new stake in Colgate-Palmolive in the third quarter valued at approximately $29,000. Cloud Capital Management LLC acquired a new stake in Colgate-Palmolive in the third quarter valued at approximately $30,000. Global Wealth Strategies & Associates boosted its stake in 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 in the last quarter. Finally, Grove Bank & Trust boosted its stake in Colgate-Palmolive by 182.6% in the fourth quarter. Grove Bank & Trust now owns 407 shares of the company's stock valued at $32,000 after acquiring an additional 263 shares in the last quarter. 80.41% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several equities research analysts have weighed in on CL shares. The Goldman Sachs Group restated a "buy" rating and issued a $100.00 target price on shares of Colgate-Palmolive in a research note on Friday, February 20th. Piper Sandler lowered their target price on shares of Colgate-Palmolive from $96.00 to $92.00 and set an "overweight" rating for the company in a research note on Wednesday, April 8th. UBS Group lowered their target price on shares of Colgate-Palmolive from $100.00 to $98.00 and set a "buy" rating for the company in a research note on Tuesday, April 7th. Jefferies Financial Group raised their target price on shares of Colgate-Palmolive from $85.00 to $91.00 and gave the company a "hold" rating in a research note on Monday, February 2nd. Finally, Barclays lowered their target price on shares of Colgate-Palmolive from $88.00 to $79.00 and set an "equal weight" rating for the company in a research note on Tuesday. Eleven equities 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 an average rating of "Moderate Buy" and an average price target of $95.56.

Insider Buying and Selling at Colgate-Palmolive

In related news, insider Sally Massey sold 15,851 shares of the business's stock in a transaction on Thursday, February 5th. The shares were sold at an average price of $95.03, for a total transaction of $1,506,320.53. Following the completion of the transaction, the insider directly owned 13,751 shares in the company, valued at $1,306,757.53. The trade was a 53.55% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider John Hazlin sold 20,989 shares of the business's 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 transaction, the insider owned 17,645 shares of the company's stock, valued at $1,663,041.25. This represents a 54.33% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last ninety days, insiders have sold 184,683 shares of company stock valued at $17,486,693. Company insiders own 0.43% of the company's stock.

Colgate-Palmolive Trading Down 0.8%

NYSE CL opened at $83.49 on Thursday. The company has a fifty day simple moving average of $90.39 and a two-hundred day simple moving average of $83.67. The stock has a market cap of $66.98 billion, a P/E ratio of 31.87, a P/E/G ratio of 4.19 and a beta of 0.34. Colgate-Palmolive Company has a 12-month low of $74.54 and a 12-month high of $99.33. The company has a current ratio of 0.83, a quick ratio of 0.54 and a debt-to-equity ratio of 18.82.

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

Colgate-Palmolive Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, May 15th. Investors of record on Monday, April 20th will be given a dividend of $0.53 per share. This is a boost from Colgate-Palmolive's previous quarterly dividend of $0.52. This represents a $2.12 dividend on an annualized basis and a yield of 2.5%. The ex-dividend date is Monday, April 20th. Colgate-Palmolive's payout ratio is presently 80.92%.

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.

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