Colgate-Palmolive Company $CL Shares Sold by AMI Asset Management Corp

Key Points

• AMI Asset Management Corp trimmed its stake in Colgate-Palmolive by 18.4% in Q4, selling 95,366 shares and ending the period with 422,817 shares valued at about $33.41 million (1.9% of its portfolio).
• Significant insider selling occurred last quarter—insiders disposed of 184,683 shares worth roughly $17.49 million, including COO Panagiotis Tsourapas (15,000 shares) and CFO Stanley J. Sutula III (97,843 shares).
• Dividend increased: Colgate-Palmolive raised its quarterly dividend to $0.53 per share (annualized $2.12) with an ex-dividend date of April 20 and a yield of about 2.5%.

AMI Asset Management Corp trimmed its position in shares of Colgate-Palmolive Company (NYSE:CL - Free Report) by 18.4% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 422,817 shares of the company's stock after selling 95,366 shares during the period. Colgate-Palmolive makes up 1.9% of AMI Asset Management Corp's portfolio, making the stock its 23rd biggest position. AMI Asset Management Corp owned 0.05% of Colgate-Palmolive worth $33,411,000 at the end of the most recent quarter.

Other large investors have also added to or reduced their stakes in the company. Maseco LLP acquired a new position in Colgate-Palmolive during the 4th quarter worth $27,000. Copia Wealth Management acquired a new position in Colgate-Palmolive during the 3rd quarter worth $29,000. Cloud Capital Management LLC acquired a new position in Colgate-Palmolive during the 3rd quarter worth $30,000. Global Wealth Strategies & Associates grew its holdings 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 grew its holdings in Colgate-Palmolive by 182.6% during the 4th quarter. Grove Bank & Trust now owns 407 shares of the company's stock worth $32,000 after acquiring an additional 263 shares in the last quarter. 80.41% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several research analysts have weighed in on CL shares. Deutsche Bank Aktiengesellschaft raised shares of Colgate-Palmolive from a "hold" rating to a "buy" rating and raised their price objective for the stock from $90.00 to $98.00 in a report on Monday, March 30th. Weiss Ratings reissued a "hold (c)" rating on shares of Colgate-Palmolive in a report on Wednesday, January 21st. Jefferies Financial Group raised their price objective on shares of Colgate-Palmolive from $85.00 to $91.00 and gave the stock a "hold" rating in a report on Monday, February 2nd. Citigroup raised their price objective on shares of Colgate-Palmolive from $95.00 to $105.00 and gave the stock a "buy" rating in a report on Monday, February 2nd. Finally, UBS Group decreased their price objective on shares of Colgate-Palmolive from $100.00 to $98.00 and set a "buy" rating for the company in a report on Tuesday, April 7th. Eleven equities research analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus price target of $96.13.

Colgate-Palmolive Trading Down 0.5%

Shares of NYSE:CL opened at $83.92 on Tuesday. The company has a market cap of $67.33 billion, a PE ratio of 32.03, a P/E/G ratio of 3.89 and a beta of 0.34. The company's 50-day moving average price is $90.78 and its 200 day moving average price is $83.64. Colgate-Palmolive Company has a fifty-two week low of $74.54 and a fifty-two week high of $99.33. The company has a quick ratio of 0.54, a current ratio of 0.83 and a debt-to-equity ratio of 18.82.

Colgate-Palmolive (NYSE:CL - Get Free Report) last issued its quarterly earnings data on Friday, January 30th. The company reported $0.95 earnings per share for the quarter, beating the consensus estimate of $0.91 by $0.04. Colgate-Palmolive had a net margin of 10.45% and a return on equity of 353.72%. The firm had revenue of $5.23 billion for the quarter, compared to the consensus estimate of $5.13 billion. During the same period last year, the firm posted $0.91 EPS. Colgate-Palmolive's quarterly revenue was up 5.8% compared to the same quarter last year. Sell-side analysts anticipate that Colgate-Palmolive Company will post 3.75 earnings per share for the current year.

Colgate-Palmolive Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, May 15th. Shareholders of record on Monday, April 20th will be given a dividend of $0.53 per share. 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 2.5%. Colgate-Palmolive's payout ratio is presently 79.39%.

Insider Activity at Colgate-Palmolive

In other Colgate-Palmolive news, COO Panagiotis Tsourapas sold 15,000 shares of the business's stock in a transaction dated Thursday, February 12th. The shares were sold at an average price of $97.81, for a total transaction of $1,467,150.00. Following the sale, the chief operating officer directly owned 10,415 shares in the company, valued at approximately $1,018,691.15. The trade was a 59.02% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Stanley J. Sutula III sold 97,843 shares of the business's stock in a transaction that occurred on Wednesday, February 4th. The stock was sold at an average price of $94.27, for a total transaction of $9,223,659.61. Following the completion of the sale, the chief financial officer owned 55,310 shares in the company, valued at $5,214,073.70. The trade was a 63.89% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 184,683 shares of company stock valued at $17,486,693 over the last quarter. 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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