Crossmark Global Holdings Inc. Trims Stake in Colgate-Palmolive Company $CL

Key Points

• Crossmark Global Holdings cut its Colgate-Palmolive stake by 19.5% in the fourth quarter, selling 37,096 shares and leaving it with 153,568 shares valued at about $12.1 million.
• Colgate-Palmolive reported better-than-expected quarterly results, with EPS of $0.97 versus $0.94 expected and revenue of $5.32 billion, up 8.4% from a year earlier.
• The company also raised its quarterly dividend to $0.53 per share, while analysts currently rate the stock a consensus Moderate Buy with an average target price of $95.88.

Crossmark Global Holdings Inc. trimmed its holdings in shares of Colgate-Palmolive Company (NYSE:CL - Free Report) by 19.5% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 153,568 shares of the company's stock after selling 37,096 shares during the quarter. Crossmark Global Holdings Inc.'s holdings in Colgate-Palmolive were worth $12,135,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Maseco LLP purchased a new position in Colgate-Palmolive during the fourth quarter worth about $27,000. Copia Wealth Management purchased a new position in Colgate-Palmolive during the third quarter worth about $29,000. Cloud Capital Management LLC purchased a new position in Colgate-Palmolive during the third quarter worth about $30,000. Global Wealth Strategies & Associates grew its position in Colgate-Palmolive by 300.0% during the fourth quarter. Global Wealth Strategies & Associates now owns 400 shares of the company's stock worth $32,000 after buying an additional 300 shares in the last quarter. Finally, Camelot Portfolios LLC purchased a new position in Colgate-Palmolive during the fourth quarter worth about $32,000. 80.41% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at Colgate-Palmolive

In other news, insider John Hazlin sold 20,989 shares of the business's stock in a transaction dated Tuesday, February 10th. The stock was sold at an average price of $94.25, for a total value of $1,978,213.25. Following the completion of the sale, the insider owned 17,645 shares of the company's stock, valued at approximately $1,663,041.25. The trade was a 54.33% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, 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 value of $1,467,150.00. Following the completion of the sale, the chief operating officer directly owned 10,415 shares of the company's stock, valued at approximately $1,018,691.15. This trade represents a 59.02% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last three months, insiders sold 70,989 shares of company stock valued at $6,756,713. 0.43% of the stock is currently owned by corporate insiders.

Colgate-Palmolive Price Performance

CL opened at $87.53 on Friday. The stock has a 50-day moving average price of $87.38 and a 200-day moving average price of $84.34. Colgate-Palmolive Company has a 12-month low of $74.54 and a 12-month high of $99.33. The company has a current ratio of 1.02, a quick ratio of 0.29 and a debt-to-equity ratio of 16.33. The stock has a market capitalization of $70.22 billion, a P/E ratio of 34.06, a PEG ratio of 4.54 and a beta of 0.31.

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

Colgate-Palmolive Increases Dividend

The business also recently announced 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. This is a boost from Colgate-Palmolive's previous quarterly dividend of $0.52. 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%. Colgate-Palmolive's dividend payout ratio is presently 82.49%.

Analysts Set New Price Targets

CL has been the subject of several recent analyst reports. Citigroup boosted their target price on Colgate-Palmolive from $95.00 to $105.00 and gave the stock a "buy" rating in a research report on Monday, February 2nd. Weiss Ratings upgraded Colgate-Palmolive from a "hold (c)" rating to a "hold (c+)" rating in a research report on Monday, May 4th. Jefferies Financial Group boosted their target price on Colgate-Palmolive from $85.00 to $91.00 and gave the stock a "hold" rating in a research report on Monday, February 2nd. Morgan Stanley reiterated an "overweight" rating on shares of Colgate-Palmolive in a report on Monday, May 4th. Finally, Barclays upped their price objective on Colgate-Palmolive from $79.00 to $80.00 and gave the stock an "equal weight" rating in a report on Tuesday, May 5th. Twelve equities research analysts have rated the stock with a Buy rating and six have given a Hold rating to the company. Based on data from MarketBeat, Colgate-Palmolive has a consensus rating of "Moderate Buy" and a consensus target price of $95.88.

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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