Colgate-Palmolive Company $CL Shares Sold by Martingale Asset Management L P

Key Points

• Martingale Asset Management cut its Colgate-Palmolive stake by 5.7%, selling 12,932 shares and leaving 213,059 shares valued at about $17.03 million at the end of the quarter.
• Quarterly results beat: Colgate reported $0.95 EPS versus $0.91 expected and revenue of $5.23 billion (up 5.8% year-over-year), while analysts project roughly $3.75 EPS for the current year.
• Dividend up and insider selling: the company raised its quarterly dividend to $0.53 ($2.12 annualized, ~2.4% yield; ex-dividend April 20), even as insiders—including the CFO—sold substantial stock (about 184,683 shares worth ~$17.5M last quarter).

Martingale Asset Management L P lowered its stake in shares of Colgate-Palmolive Company (NYSE:CL - Free Report) by 5.7% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 213,059 shares of the company's stock after selling 12,932 shares during the period. Martingale Asset Management L P's holdings in Colgate-Palmolive were worth $17,032,000 at the end of the most recent quarter.

Other institutional investors also recently bought and sold shares of the company. S.A. Mason LLC increased its holdings in Colgate-Palmolive by 3.9% during the 3rd quarter. S.A. Mason LLC now owns 3,499 shares of the company's stock valued at $280,000 after acquiring an additional 130 shares in the last quarter. Security National Bank of Sioux City Iowa IA raised its position in Colgate-Palmolive by 0.8% during the 3rd quarter. Security National Bank of Sioux City Iowa IA now owns 16,241 shares of the company's stock worth $1,298,000 after buying an additional 130 shares during the last quarter. Stratos Wealth Advisors LLC boosted its stake in shares of Colgate-Palmolive by 4.5% in the third quarter. Stratos Wealth Advisors LLC now owns 3,015 shares of the company's stock valued at $241,000 after buying an additional 130 shares in the last quarter. Cordatus Wealth Management LLC raised its position in shares of Colgate-Palmolive by 0.6% during the second quarter. Cordatus Wealth Management LLC now owns 23,036 shares of the company's stock worth $2,094,000 after purchasing an additional 134 shares during the period. Finally, Chicago Partners Investment Group LLC raised its position in Colgate-Palmolive by 1.5% during the third quarter. Chicago Partners Investment Group LLC now owns 9,387 shares of the company's stock worth $724,000 after acquiring an additional 136 shares in the last quarter. Institutional investors own 80.41% of the company's stock.

Colgate-Palmolive Stock Performance

Shares of Colgate-Palmolive stock opened at $87.94 on Friday. Colgate-Palmolive Company has a twelve month low of $74.54 and a twelve month high of $99.33. The stock has a market cap of $70.89 billion, a price-to-earnings ratio of 33.57, a P/E/G ratio of 4.01 and a beta of 0.28. 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's fifty day moving average is $89.89 and its 200 day moving average is $83.20.

Colgate-Palmolive (NYSE:CL - Get Free Report) last released its quarterly earnings results 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. 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 quarter in the previous year, the firm posted $0.91 EPS. The firm's quarterly revenue was up 5.8% on a year-over-year basis. Sell-side analysts forecast that Colgate-Palmolive Company will post 3.75 EPS for the current year.

Colgate-Palmolive Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, May 15th. Investors of record on Monday, April 20th will be issued a dividend of $0.53 per share. This represents a $2.12 dividend on an annualized basis and a yield of 2.4%. This is an increase from Colgate-Palmolive's previous quarterly dividend of $0.52. The ex-dividend date is Monday, April 20th. Colgate-Palmolive's dividend payout ratio is 79.39%.

Analyst Ratings Changes

A number of brokerages recently issued reports on CL. Piper Sandler increased their price target on shares of Colgate-Palmolive from $88.00 to $96.00 and gave the stock an "overweight" rating in a report on Friday, January 30th. Deutsche Bank Aktiengesellschaft upped their price objective on shares of Colgate-Palmolive from $83.00 to $90.00 and gave the stock a "hold" rating in a research report on Monday, February 2nd. Rothschild & Co Redburn set a $93.00 price target on shares of Colgate-Palmolive in a report on Friday, February 13th. Royal Bank Of Canada upgraded shares of Colgate-Palmolive from a "sector perform" rating to an "outperform" rating and set a $88.00 target price on the stock in a report on Tuesday, December 9th. Finally, JPMorgan Chase & Co. lifted their target price on shares of Colgate-Palmolive from $93.00 to $97.00 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 issued a Hold rating to the stock. According to MarketBeat.com, Colgate-Palmolive currently has a consensus rating of "Moderate Buy" and an average price target of $94.75.

Insider Buying and Selling at Colgate-Palmolive

In related news, CFO Stanley J. Sutula III sold 97,843 shares of Colgate-Palmolive stock in a transaction on Wednesday, February 4th. The shares were sold at an average price of $94.27, for a total value of $9,223,659.61. Following the transaction, the chief financial officer owned 55,310 shares in the company, valued at $5,214,073.70. This trade represents a 63.89% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider John Hazlin sold 20,989 shares of the company's 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 completion of the transaction, the insider owned 17,645 shares in the company, valued at $1,663,041.25. This represents a 54.33% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 184,683 shares of company stock worth $17,486,693 over the last quarter. Company insiders own 0.34% 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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