Asset Management One Co. Ltd. Reduces Position in Colgate-Palmolive Company $CL

Key Points

• Asset Management One cut its stake in Colgate-Palmolive by 8.0% in Q4, selling 33,976 shares and ending the quarter with 388,316 shares worth about $30.94 million.
• Insiders have been net sellers recently: John Hazlin sold 20,989 shares at an average $94.25 and COO Panagiotis Tsourapas sold 15,000 shares at $97.81, with insiders offloading 184,683 shares (~$17.49M) over the past 90 days and owning 0.43% of the stock.
• Colgate beat Q1 expectations (EPS $0.95 vs. $0.91; revenue $5.23B vs. $5.13B), raised its quarterly dividend to $0.53 (annual $2.12, 2.5% yield), and carries a MarketBeat consensus rating of Moderate Buy with a $95.44 target.

Asset Management One Co. Ltd. cut its position in shares of Colgate-Palmolive Company (NYSE:CL - Free Report) by 8.0% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 388,316 shares of the company's stock after selling 33,976 shares during the quarter. Asset Management One Co. Ltd.'s holdings in Colgate-Palmolive were worth $30,941,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also modified their holdings of the company. Maseco LLP acquired a new stake in Colgate-Palmolive in the 4th quarter worth about $27,000. Copia Wealth Management acquired a new position in Colgate-Palmolive during the third quarter valued at approximately $29,000. Cloud Capital Management LLC purchased a new stake in Colgate-Palmolive during the 3rd quarter worth $30,000. Global Wealth Strategies & Associates lifted its position in Colgate-Palmolive by 300.0% during the 4th quarter. Global Wealth Strategies & Associates now owns 400 shares of the company's stock worth $32,000 after acquiring an additional 300 shares in the last quarter. Finally, Grove Bank & Trust lifted its position in shares of Colgate-Palmolive by 182.6% during the fourth quarter. Grove Bank & Trust now owns 407 shares of the company's stock worth $32,000 after purchasing an additional 263 shares in the last quarter. Hedge funds and other institutional investors own 80.41% of the company's stock.

Insider Activity

In other news, insider John Hazlin sold 20,989 shares of Colgate-Palmolive stock in a transaction that occurred on Tuesday, February 10th. The shares were sold at an average price of $94.25, for a total value of $1,978,213.25. Following the transaction, the insider directly owned 17,645 shares of the company's stock, valued at $1,663,041.25. This trade represents a 54.33% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, COO Panagiotis Tsourapas sold 15,000 shares of the stock in a transaction on Thursday, February 12th. The shares were sold at an average price of $97.81, for a total value of $1,467,150.00. Following the completion of the sale, the chief operating officer owned 10,415 shares of the company's stock, valued at $1,018,691.15. The trade was a 59.02% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 184,683 shares of company stock valued at $17,486,693 over the last ninety days. Corporate insiders own 0.43% of the company's stock.

Colgate-Palmolive Price Performance

NYSE:CL opened at $85.83 on Friday. The company has a quick ratio of 0.54, a current ratio of 0.83 and a debt-to-equity ratio of 18.82. The business's 50-day moving average price is $89.99 and its 200 day moving average price is $83.74. Colgate-Palmolive Company has a 52-week low of $74.54 and a 52-week high of $99.33. The firm has a market cap of $68.86 billion, a P/E ratio of 32.76, a PEG ratio of 4.16 and a beta of 0.34.

Colgate-Palmolive (NYSE:CL - Get Free Report) last announced its quarterly earnings data on Friday, January 30th. The company reported $0.95 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.91 by $0.04. The company had revenue of $5.23 billion for 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 revenue was up 5.8% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.91 EPS. As a group, sell-side analysts predict that Colgate-Palmolive Company will post 3.75 earnings per share for the current fiscal year.

Colgate-Palmolive Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, May 15th. Investors of record on Monday, April 20th will be paid a $0.53 dividend. The ex-dividend date of this dividend is Monday, April 20th. This represents a $2.12 dividend on an annualized basis and a yield of 2.5%. This is an increase from Colgate-Palmolive's previous quarterly dividend of $0.52. Colgate-Palmolive's dividend payout ratio (DPR) is 80.92%.

Wall Street Analyst Weigh In

CL has been the subject of several recent analyst reports. Morgan Stanley raised their price objective on shares of Colgate-Palmolive from $87.00 to $100.00 and gave the stock an "overweight" rating in a report on Monday, February 2nd. Barclays dropped their target price on shares of Colgate-Palmolive from $88.00 to $79.00 and set an "equal weight" rating on the stock in a report on Tuesday. Royal Bank Of Canada set a $102.00 price target on shares of Colgate-Palmolive in a report on Thursday, April 9th. Wall Street Zen lowered Colgate-Palmolive from a "buy" rating to a "hold" rating in a report on Sunday, March 29th. Finally, Deutsche Bank Aktiengesellschaft upgraded shares of Colgate-Palmolive from a "hold" rating to a "buy" rating and upped their target price for the stock from $90.00 to $98.00 in a research report on Monday, March 30th. Eleven equities research analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company. According to MarketBeat, Colgate-Palmolive has a consensus rating of "Moderate Buy" and a consensus target price of $95.44.

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.

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