Colgate-Palmolive Company $CL Shares Sold by LGT Fund Management Co Ltd.

Key Points

• LGT Fund Management reduced its Colgate-Palmolive stake by 91.6%, selling 33,650 shares in Q3 and retaining 3,070 shares worth about $243,000.
• Company insiders sold 184,683 shares totaling $17.49 million last quarter, including CFO Stanley J. Sutula III's sale of 97,843 shares and Sally Massey's sale of 15,851 shares, leaving insiders with 0.41% ownership.
• Colgate beat quarterly estimates and continues paying a dividend, reporting EPS of $0.95 vs. $0.91 expected and revenue of $5.23B (up 5.8% YoY), and declaring a $0.52 quarterly dividend (2.2% yield; 79% payout ratio).

LGT Fund Management Co Ltd. reduced its holdings in Colgate-Palmolive Company (NYSE:CL - Free Report) by 91.6% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 3,070 shares of the company's stock after selling 33,650 shares during the quarter. LGT Fund Management Co Ltd.'s holdings in Colgate-Palmolive were worth $243,000 at the end of the most recent quarter.

Other large investors have also recently added to or reduced their stakes in the company. Copia Wealth Management acquired a new position in Colgate-Palmolive in the third quarter worth approximately $29,000. Vermillion & White Wealth Management Group LLC lifted its position in shares of Colgate-Palmolive by 86.1% during the 2nd quarter. Vermillion & White Wealth Management Group LLC now owns 335 shares of the company's stock valued at $30,000 after acquiring an additional 155 shares during the last quarter. Cloud Capital Management LLC bought a new stake in shares of Colgate-Palmolive during the 3rd quarter worth $30,000. MTM Investment Management LLC bought a new stake in shares of Colgate-Palmolive during the 2nd quarter worth $39,000. Finally, Louisbourg Investments Inc. grew its holdings in shares of Colgate-Palmolive by 94.7% in the 3rd quarter. Louisbourg Investments Inc. now owns 514 shares of the company's stock worth $41,000 after acquiring an additional 250 shares during the last quarter. 80.41% of the stock is currently owned by institutional investors.

Colgate-Palmolive Price Performance

CL opened at $92.90 on Tuesday. The firm has a market capitalization of $74.88 billion, a P/E ratio of 35.46, a PEG ratio of 4.22 and a beta of 0.28. The stock has a fifty day moving average of $89.24 and a 200-day moving average of $83.08. 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 Company has a 12-month low of $74.54 and a 12-month high of $100.18.

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

Colgate-Palmolive Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, February 13th. Shareholders of record on Wednesday, January 21st were paid a dividend of $0.52 per share. This represents a $2.08 annualized dividend and a yield of 2.2%. The ex-dividend date of this dividend was Wednesday, January 21st. Colgate-Palmolive's payout ratio is 79.39%.

Insiders Place Their Bets

In other news, insider Sally Massey sold 15,851 shares of the company's stock in a transaction dated Thursday, February 5th. The stock was sold at an average price of $95.03, for a total value of $1,506,320.53. Following the transaction, the insider owned 13,751 shares in the company, valued at $1,306,757.53. This represents a 53.55% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CFO Stanley J. Sutula III sold 97,843 shares of the 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 directly owned 55,310 shares of the company's stock, valued at $5,214,073.70. This trade represents a 63.89% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold 184,683 shares of company stock worth $17,486,693 over the last quarter. Company insiders own 0.41% of the company's stock.

Wall Street Analysts Forecast Growth

CL has been the topic of a number of recent analyst reports. Royal Bank Of Canada raised Colgate-Palmolive from a "sector perform" rating to an "outperform" rating and set a $88.00 target price on the stock in a research report on Tuesday, December 9th. Deutsche Bank Aktiengesellschaft increased their price target on Colgate-Palmolive from $83.00 to $90.00 and gave the company a "hold" rating in a research report on Monday, February 2nd. Rothschild & Co Redburn set a $93.00 price objective on Colgate-Palmolive in a report on Friday, February 13th. The Goldman Sachs Group reaffirmed a "buy" rating and set a $100.00 price objective on shares of Colgate-Palmolive in a research note on Friday, February 20th. Finally, Argus reiterated a "hold" rating on shares of Colgate-Palmolive in a report on Thursday, December 11th. Eleven equities research analysts have rated the stock with a Buy rating and six have issued a Hold rating to the stock. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $94.75.

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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