Colgate-Palmolive Company $CL Shares Sold by Zurcher Kantonalbank Zurich Cantonalbank

Key Points

• Zurcher Kantonalbank trimmed its stake in Colgate‑Palmolive by 21.4%, selling 121,801 shares and retaining 447,581 shares worth about $35.37 million at quarter end.
• Colgate beat Q4 estimates with $0.95 EPS (vs. $0.91) and $5.23B revenue (+5.8% YoY) and raised its quarterly dividend to $0.53 ($2.12 annual; 2.5% yield), with an ex‑dividend date of April 20 and payment on May 15.
• Company insiders have been net sellers recently: the CFO sold 97,843 shares and the COO sold 15,000 shares, and insiders sold 184,683 shares totaling about $17.49 million over the last 90 days (insiders now own 0.43% of the stock).

Zurcher Kantonalbank Zurich Cantonalbank trimmed its position in shares of Colgate-Palmolive Company (NYSE:CL - Free Report) by 21.4% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 447,581 shares of the company's stock after selling 121,801 shares during the quarter. Zurcher Kantonalbank Zurich Cantonalbank owned approximately 0.06% of Colgate-Palmolive worth $35,368,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of CL. Maseco LLP acquired a new position in shares of Colgate-Palmolive during the 4th quarter worth $27,000. Copia Wealth Management acquired a new stake in Colgate-Palmolive in the 3rd quarter valued at about $29,000. Cloud Capital Management LLC acquired a new stake in Colgate-Palmolive in the 3rd quarter valued at about $30,000. Global Wealth Strategies & Associates increased 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 valued at $32,000 after acquiring an additional 300 shares in the last quarter. Finally, Grove Bank & Trust raised its position in Colgate-Palmolive by 182.6% during the fourth quarter. Grove Bank & Trust now owns 407 shares of the company's stock worth $32,000 after acquiring an additional 263 shares during the last quarter. Institutional investors and hedge funds own 80.41% of the company's stock.

Colgate-Palmolive Price Performance

Colgate-Palmolive stock opened at $83.49 on Tuesday. The stock has a market capitalization of $66.98 billion, a P/E ratio of 31.87, a P/E/G ratio of 4.28 and a beta of 0.34. Colgate-Palmolive Company has a 12-month low of $74.54 and a 12-month high of $99.33. The company has a debt-to-equity ratio of 18.82, a current ratio of 0.83 and a quick ratio of 0.54. The firm's 50-day moving average is $89.78 and its two-hundred day moving average is $83.81.

Colgate-Palmolive (NYSE:CL - Get Free Report) last announced its quarterly earnings data on Friday, January 30th. The company reported $0.95 earnings per share (EPS) 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 business had revenue of $5.23 billion for the quarter, compared to the consensus estimate of $5.13 billion. During the same quarter in the prior year, the firm posted $0.91 earnings per share. The company's quarterly revenue was up 5.8% compared to the same quarter last year. Equities analysts predict that Colgate-Palmolive Company will post 3.87 earnings per share for the current year.

Colgate-Palmolive Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, May 15th. Shareholders of record on Monday, April 20th will be paid a dividend of $0.53 per share. 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 2.5%. This is a boost from Colgate-Palmolive's previous quarterly dividend of $0.52. Colgate-Palmolive's dividend payout ratio is currently 79.39%.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on CL shares. JPMorgan Chase & Co. reduced their price target on shares of Colgate-Palmolive from $97.00 to $95.00 and set an "overweight" rating on the stock in a report on Friday. Bank of America cut their price objective on Colgate-Palmolive from $105.00 to $102.00 and set a "buy" rating for the company in a research report on Friday, April 10th. Weiss Ratings reaffirmed a "hold (c)" rating on shares of Colgate-Palmolive in a research note on Wednesday, January 21st. Rothschild & Co Redburn set a $100.00 target price on Colgate-Palmolive and gave the company a "buy" rating in a report on Tuesday. Finally, UBS Group dropped their price target on Colgate-Palmolive from $100.00 to $98.00 and set a "buy" rating for the company in a research report on Tuesday, April 7th. Twelve equities research analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company's stock. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average price target of $95.88.

Insiders Place Their Bets

In other news, CFO Stanley J. Sutula III sold 97,843 shares of the company's stock in a transaction dated Wednesday, February 4th. The shares were sold at an average price of $94.27, for a total transaction of $9,223,659.61. Following the completion of the transaction, the chief financial officer owned 55,310 shares of the company's stock, valued at $5,214,073.70. This represents a 63.89% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, COO Panagiotis Tsourapas sold 15,000 shares of the stock in a transaction dated Thursday, February 12th. The stock was sold at an average price of $97.81, for a total transaction of $1,467,150.00. Following the transaction, the chief operating officer owned 10,415 shares in the company, valued at approximately $1,018,691.15. The trade was a 59.02% 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 ninety days. Company 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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