Danica Pension Livsforsikringsaktieselskab Decreases Stock Position in Colgate-Palmolive Company $CL

Key Points

• Danica Pension cut its stake in Colgate‑Palmolive by 14.5% in Q4, selling 72,405 shares and ending the quarter with 425,727 shares (about 0.05% of the company) worth roughly $33.64 million.
• Insider selling has been heavy recently — insiders disposed of 184,683 shares valued at $17.49 million over the past 90 days, including large sales by Sally Massey and COO Panagiotis Tsourapas that significantly reduced their holdings.
• Several analysts have reduced price targets and ratings (Wells Fargo, Morgan Stanley, Piper Sandler among them), leaving an average MarketBeat rating of "Moderate Buy" with a $95.56 target, while Colgate also raised its quarterly dividend to $0.53 (annual $2.12, ~2.5% yield).

Danica Pension Livsforsikringsaktieselskab lowered its stake in Colgate-Palmolive Company (NYSE:CL - Free Report) by 14.5% during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 425,727 shares of the company's stock after selling 72,405 shares during the quarter. Danica Pension Livsforsikringsaktieselskab owned about 0.05% of Colgate-Palmolive worth $33,641,000 as of its most recent SEC filing.

Several other hedge funds have also bought and sold shares of CL. Maseco LLP purchased a new stake in Colgate-Palmolive in the 4th quarter worth $27,000. Copia Wealth Management purchased a new stake in Colgate-Palmolive in the 3rd quarter worth $29,000. Cloud Capital Management LLC purchased a new stake in Colgate-Palmolive in the 3rd quarter worth $30,000. Global Wealth Strategies & Associates lifted its stake in Colgate-Palmolive by 300.0% in the 4th quarter. Global Wealth Strategies & Associates now owns 400 shares of the company's stock worth $32,000 after purchasing an additional 300 shares in the last quarter. Finally, Grove Bank & Trust lifted its stake in Colgate-Palmolive by 182.6% in the 4th quarter. Grove Bank & Trust now owns 407 shares of the company's stock worth $32,000 after purchasing an additional 263 shares in the last quarter. Hedge funds and other institutional investors own 80.41% of the company's stock.

Insider Activity at Colgate-Palmolive

In other news, insider Sally Massey sold 15,851 shares of the company's stock in a transaction that occurred on Thursday, February 5th. The shares were sold at an average price of $95.03, for a total value of $1,506,320.53. Following the completion of the sale, the insider owned 13,751 shares of the company's stock, valued at approximately $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 accessible through this link. Also, COO Panagiotis Tsourapas sold 35,000 shares of the company's stock in a transaction that occurred on Wednesday, February 11th. The stock was sold at an average price of $94.61, for a total transaction of $3,311,350.00. Following the completion of the sale, the chief operating officer directly owned 10,415 shares of the company's stock, valued at $985,363.15. The trade was a 77.07% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 184,683 shares of company stock valued at $17,486,693 over the last 90 days. 0.43% of the stock is currently owned by insiders.

Analyst Ratings Changes

CL has been the topic of several research analyst reports. Wells Fargo & Company decreased their price target on shares of Colgate-Palmolive from $100.00 to $92.00 and set an "equal weight" rating on the stock in a research note on Wednesday, April 8th. Wall Street Zen downgraded shares of Colgate-Palmolive from a "buy" rating to a "hold" rating in a report on Sunday, March 29th. Morgan Stanley reduced their target price on shares of Colgate-Palmolive from $100.00 to $95.00 and set an "overweight" rating on the stock in a report on Thursday, April 23rd. Piper Sandler reduced their target price on shares of Colgate-Palmolive from $96.00 to $92.00 and set an "overweight" rating on the stock in a report on Wednesday, April 8th. Finally, Rothschild & Co Redburn set a $100.00 target price on shares of Colgate-Palmolive and gave the stock a "buy" rating in a report on Tuesday, April 21st. Twelve research analysts have rated the stock with a Buy rating and six have given a Hold rating to the stock. Based on data from MarketBeat.com, Colgate-Palmolive presently has an average rating of "Moderate Buy" and an average price target of $95.56.

Colgate-Palmolive Price Performance

Shares of CL stock opened at $85.40 on Friday. 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 company has a market capitalization of $68.51 billion, a P/E ratio of 32.59, a P/E/G ratio of 4.32 and a beta of 0.34. The company's 50-day simple moving average is $87.95 and its two-hundred day simple moving average is $84.06. Colgate-Palmolive Company has a one year low of $74.54 and a one year high of $99.33.

Colgate-Palmolive (NYSE:CL - Get Free Report) last issued its earnings results on Friday, January 30th. The company reported $0.95 EPS for the quarter, topping 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 net margin of 10.45% and a return on equity of 353.72%. The company's revenue for the quarter was up 5.8% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.91 EPS. As a group, equities analysts anticipate that Colgate-Palmolive Company will post 3.85 EPS for the current year.

Colgate-Palmolive Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, May 15th. Shareholders of record on Monday, April 20th will be paid a $0.53 dividend. The ex-dividend date is Monday, April 20th. This represents a $2.12 dividend on an annualized basis and a yield of 2.5%. This is an increase from Colgate-Palmolive's previous quarterly dividend of $0.52. Colgate-Palmolive's payout ratio is currently 80.92%.

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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