Clark Capital Management Group Inc. Sells 40,026 Shares of Colgate-Palmolive Company $CL

Key Points

• Clark Capital cut its stake in Colgate-Palmolive by 77% in Q3, selling 40,026 shares and leaving 11,943 shares worth about $955,000.
• Insiders also sold heavily this quarter — COO Panagiotis Tsourapas sold 35,000 shares and John Hazlin 20,989, with total insider sales of 184,683 shares worth roughly $17.5 million.
• Several Wall Street firms raised price targets (many to the mid-$90s) and the stock has a consensus rating of "Moderate Buy" with an average target of $94.75.

Clark Capital Management Group Inc. decreased its stake in Colgate-Palmolive Company (NYSE:CL - Free Report) by 77.0% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 11,943 shares of the company's stock after selling 40,026 shares during the quarter. Clark Capital Management Group Inc.'s holdings in Colgate-Palmolive were worth $955,000 as of its most recent SEC filing.

A number of other large investors have also recently made changes to their positions in CL. Vermillion & White Wealth Management Group LLC increased its holdings in Colgate-Palmolive by 86.1% in the 2nd quarter. Vermillion & White Wealth Management Group LLC now owns 335 shares of the company's stock worth $30,000 after acquiring an additional 155 shares in the last quarter. Copia Wealth Management purchased a new position in Colgate-Palmolive during the third quarter valued at approximately $29,000. Cloud Capital Management LLC bought a new position in shares of Colgate-Palmolive in the third quarter worth approximately $30,000. MTM Investment Management LLC bought a new position in shares of Colgate-Palmolive in the second quarter worth approximately $39,000. Finally, Kelleher Financial Advisors purchased a new stake in shares of Colgate-Palmolive in the third quarter worth $35,000. 80.41% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several analysts have recently commented on the stock. Deutsche Bank Aktiengesellschaft raised their price objective on shares of Colgate-Palmolive from $83.00 to $90.00 and gave the company a "hold" rating in a research report on Monday, February 2nd. JPMorgan Chase & Co. upped their target price on shares of Colgate-Palmolive from $93.00 to $97.00 and gave the stock an "overweight" rating in a report on Monday, February 2nd. Evercore raised their price target on Colgate-Palmolive from $94.00 to $100.00 and gave the company an "outperform" rating in a report on Monday, February 2nd. Bank of America boosted their price objective on Colgate-Palmolive from $90.00 to $100.00 and gave the company a "buy" rating in a research report on Monday, February 2nd. Finally, Morgan Stanley upped their price objective on Colgate-Palmolive from $87.00 to $100.00 and gave the stock an "overweight" rating in a research note on Monday, February 2nd. Eleven analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus price target of $94.75.

Insider Buying and Selling

In other news, COO Panagiotis Tsourapas sold 35,000 shares of the business's stock in a transaction that occurred on Wednesday, February 11th. The stock was 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 of the company's stock, valued at approximately $985,363.15. The trade was a 77.07% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider John Hazlin sold 20,989 shares of the firm's stock in a transaction on Tuesday, February 10th. The stock was sold at an average price of $94.25, for a total value of $1,978,213.25. Following the completion of the sale, the insider owned 17,645 shares of the company's stock, valued at approximately $1,663,041.25. This represents a 54.33% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last quarter, insiders sold 184,683 shares of company stock worth $17,486,693. 0.41% of the stock is owned by company insiders.

Colgate-Palmolive Stock Performance

Colgate-Palmolive stock opened at $90.39 on Tuesday. The company's 50-day moving average price is $90.38 and its 200-day moving average price is $83.27. 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 company has a market cap of $72.86 billion, a PE ratio of 34.50, a price-to-earnings-growth ratio of 3.98 and a beta of 0.28. Colgate-Palmolive Company has a twelve month low of $74.54 and a twelve month high of $99.33.

Colgate-Palmolive (NYSE:CL - Get Free Report) 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 forecast 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 2.3%. Colgate-Palmolive's dividend payout ratio (DPR) is presently 79.39%.

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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