Colgate-Palmolive Company $CL Shares Sold by ABN AMRO Bank N.V.

Key Points

• ABN AMRO Bank N.V. cut its Colgate-Palmolive position by 29.4% in the fourth quarter, selling 16,549 shares and leaving it with 39,750 shares valued at about $3.13 million.
• Colgate-Palmolive reported better-than-expected first-quarter results, with EPS of $0.97 versus $0.94 expected and revenue of $5.32 billion versus $5.22 billion expected, up 8.4% year over year.
• The company also raised its quarterly dividend to $0.53 per share from $0.52, putting the annualized payout at $2.12 and the dividend yield at 2.4%.

ABN AMRO Bank N.V. trimmed its position in Colgate-Palmolive Company (NYSE:CL - Free Report) by 29.4% in the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor owned 39,750 shares of the company's stock after selling 16,549 shares during the period. ABN AMRO Bank N.V.'s holdings in Colgate-Palmolive were worth $3,133,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. Maseco LLP bought a new stake in Colgate-Palmolive during the fourth quarter valued at $27,000. Copia Wealth Management acquired a new position in shares of Colgate-Palmolive in the 3rd quarter valued at about $29,000. Cloud Capital Management LLC acquired a new position in shares of Colgate-Palmolive in the 3rd quarter valued at about $30,000. Global Wealth Strategies & Associates grew its position in shares of Colgate-Palmolive by 300.0% during the 4th quarter. Global Wealth Strategies & Associates now owns 400 shares of the company's stock valued at $32,000 after buying an additional 300 shares during the last quarter. Finally, Camelot Portfolios LLC bought a new stake in shares of Colgate-Palmolive during the 4th quarter valued at about $32,000. 80.41% of the stock is owned by institutional investors.

Colgate-Palmolive Stock Down 1.0%

Shares of Colgate-Palmolive stock opened at $86.68 on Tuesday. The company has a debt-to-equity ratio of 16.33, a current ratio of 1.02 and a quick ratio of 0.67. Colgate-Palmolive Company has a 1-year low of $74.54 and a 1-year high of $99.33. The business's fifty day moving average price is $86.98 and its two-hundred day moving average price is $84.46. The company has a market capitalization of $69.54 billion, a P/E ratio of 33.73, a PEG ratio of 4.54 and a beta of 0.31.

Colgate-Palmolive (NYSE:CL - Get Free Report) last released its quarterly earnings results on Friday, May 1st. The company reported $0.97 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.94 by $0.03. The company had revenue of $5.32 billion during the quarter, compared to analysts' expectations of $5.22 billion. Colgate-Palmolive had a return on equity of 386.76% and a net margin of 10.04%.The company's revenue for the quarter was up 8.4% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.91 earnings per share. As a group, research analysts forecast that Colgate-Palmolive Company will post 3.83 EPS for the current year.

Colgate-Palmolive Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, May 15th. Stockholders 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 dividend yield of 2.4%. This is an increase from Colgate-Palmolive's previous quarterly dividend of $0.52. Colgate-Palmolive's dividend payout ratio (DPR) is currently 82.49%.

Wall Street Analyst Weigh In

CL has been the topic of a number of recent research reports. The Goldman Sachs Group reissued a "buy" rating on shares of Colgate-Palmolive in a report on Friday, May 1st. TD Cowen reiterated a "hold" rating and set a $85.00 price target on shares of Colgate-Palmolive in a research report on Tuesday, March 31st. Piper Sandler cut their price target on Colgate-Palmolive from $96.00 to $92.00 and set an "overweight" rating on the stock in a report on Wednesday, April 8th. Deutsche Bank Aktiengesellschaft restated a "buy" rating and set a $99.00 price objective on shares of Colgate-Palmolive in a research report on Monday, May 4th. Finally, Royal Bank Of Canada restated an "outperform" rating and set a $102.00 price objective on shares of Colgate-Palmolive in a research note on Monday, May 4th. Twelve analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company. According to data from MarketBeat, Colgate-Palmolive presently has an average rating of "Moderate Buy" and an average target price of $95.88.

Insider Buying and Selling at Colgate-Palmolive

In other news, COO Panagiotis Tsourapas sold 15,000 shares of the stock in a transaction that occurred 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 transaction, the chief operating officer directly owned 10,415 shares in the company, valued at $1,018,691.15. This trade represents a 59.02% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Corporate insiders own 0.43% of the company's stock.

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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