KLP Kapitalforvaltning AS Increases Stake in Colgate-Palmolive Company $CL

Key Points

• KLP Kapitalforvaltning AS increased its stake in Colgate-Palmolive by 2.2% in Q4 to 629,523 shares (about $49.7M), while institutional investors collectively own roughly 80.41% of the company.
• Insiders sold 184,683 shares (~$17.49M) over the past three months — including COO Panagiotis Tsourapas (15,000 shares) and John Hazlin (20,989 shares) — leaving insiders with just 0.43% ownership.
• Colgate beat quarterly EPS estimates ($0.95 vs. $0.91) with revenue up 5.8% year-over-year and raised its quarterly dividend to $0.53 (annualized $2.12, ~2.6% yield).

KLP Kapitalforvaltning AS lifted its stake in shares of Colgate-Palmolive Company (NYSE:CL - Free Report) by 2.2% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 629,523 shares of the company's stock after acquiring an additional 13,600 shares during the period. KLP Kapitalforvaltning AS owned 0.08% of Colgate-Palmolive worth $49,745,000 as of its most recent SEC filing.

Several other hedge funds have also recently bought and sold shares of the business. Invesco Ltd. raised its holdings in Colgate-Palmolive by 13.1% in the third quarter. Invesco Ltd. now owns 8,467,993 shares of the company's stock valued at $676,931,000 after buying an additional 978,943 shares during the period. Diamond Hill Capital Management Inc. raised its holdings in Colgate-Palmolive by 46.7% in the third quarter. Diamond Hill Capital Management Inc. now owns 8,077,549 shares of the company's stock valued at $645,719,000 after buying an additional 2,572,796 shares during the period. Ameriprise Financial Inc. raised its holdings in Colgate-Palmolive by 5.1% in the third quarter. Ameriprise Financial Inc. now owns 6,423,764 shares of the company's stock valued at $517,167,000 after buying an additional 314,584 shares during the period. Amundi raised its holdings in Colgate-Palmolive by 41.6% in the third quarter. Amundi now owns 6,294,445 shares of the company's stock valued at $487,505,000 after buying an additional 1,850,412 shares during the period. Finally, Legal & General Group Plc raised its holdings in Colgate-Palmolive by 2.8% in the third quarter. Legal & General Group Plc now owns 5,919,524 shares of the company's stock valued at $473,207,000 after buying an additional 162,253 shares during the period. Hedge funds and other institutional investors own 80.41% of the company's stock.

Insider Activity

In other news, COO Panagiotis Tsourapas sold 15,000 shares of the firm's stock in a transaction that occurred on Thursday, February 12th. The shares were sold at an average price of $97.81, for a total transaction of $1,467,150.00. Following the completion of the sale, the chief operating officer 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 ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider John Hazlin sold 20,989 shares of the firm's stock in a transaction that occurred on Tuesday, February 10th. The stock was sold at an average price of $94.25, for a total transaction of $1,978,213.25. Following the sale, the insider directly owned 17,645 shares of the company's stock, valued at $1,663,041.25. The trade was a 54.33% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 184,683 shares of company stock worth $17,486,693 over the last three months. Insiders own 0.43% of the company's stock.

Colgate-Palmolive Stock Down 1.9%

Shares of NYSE:CL opened at $81.94 on Wednesday. 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 52-week low of $74.54 and a 52-week high of $99.33. The company has a 50 day moving average of $89.53 and a two-hundred day moving average of $83.83. The company has a market capitalization of $65.74 billion, a price-to-earnings ratio of 31.27, a price-to-earnings-growth ratio of 4.17 and a beta of 0.34.

Colgate-Palmolive (NYSE:CL - Get Free Report) last issued 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 company had revenue of $5.23 billion during the quarter, compared to the consensus estimate of $5.13 billion. During the same quarter last year, the company earned $0.91 earnings per share. Colgate-Palmolive's revenue for the quarter was up 5.8% on a year-over-year basis. As a group, analysts forecast that Colgate-Palmolive Company will post 3.87 earnings per share for the current fiscal year.

Colgate-Palmolive Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, May 15th. Shareholders of record on Monday, April 20th will be given a $0.53 dividend. This represents a $2.12 annualized dividend and a yield of 2.6%. This is a positive change from Colgate-Palmolive's previous quarterly dividend of $0.52. The ex-dividend date of this dividend is Monday, April 20th. Colgate-Palmolive's dividend payout ratio is 80.92%.

Analyst Upgrades and Downgrades

Several research analysts recently commented on the stock. The Goldman Sachs Group restated a "buy" rating and issued a $100.00 price target on shares of Colgate-Palmolive in a report on Friday, February 20th. Bank of America cut their price target on shares of Colgate-Palmolive from $105.00 to $102.00 and set a "buy" rating on the stock in a report on Friday, April 10th. Barclays cut their price target on shares of Colgate-Palmolive from $88.00 to $79.00 and set an "equal weight" rating on the stock in a report on Tuesday, April 14th. Wall Street Zen lowered shares of Colgate-Palmolive from a "buy" rating to a "hold" rating in a report on Sunday, March 29th. Finally, Citigroup raised their price target on shares of Colgate-Palmolive from $95.00 to $105.00 and gave the company a "buy" rating in a report on Monday, February 2nd. One investment analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating and six have issued a Hold rating to the company's stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average price target 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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