Korea Investment CORP Has $39.63 Million Stock Holdings in Colgate-Palmolive Company $CL

Key Points

• Korea Investment CORP cut its stake in Colgate‑Palmolive by 20.2%, selling 125,311 shares to hold 495,787 shares worth about $39.63 million at the end of the quarter.
• Company insiders have been active sellers: CFO Stanley J. Sutula III and COO Panagiotis Tsourapas sold large blocks (97,843 and 35,000 shares respectively), and insiders sold a total of 184,683 shares worth $17.49 million in the past 90 days.
• Colgate recently beat expectations with Q results of $0.95 EPS vs $0.91 est and revenue up 5.8% to $5.23 billion, pays a quarterly dividend of $0.52 (annualized yield 2.2%, payout ratio ~79%), and carries a consensus analyst rating of Moderate Buy with an average target of $94.75.

Korea Investment CORP decreased its holdings in shares of Colgate-Palmolive Company (NYSE:CL - Free Report) by 20.2% in the 3rd quarter, according to its most recent 13F filing with the SEC. The fund owned 495,787 shares of the company's stock after selling 125,311 shares during the period. Korea Investment CORP owned approximately 0.06% of Colgate-Palmolive worth $39,633,000 at the end of the most recent reporting period.

A number of other large investors also recently made changes to their positions in the stock. Copia Wealth Management acquired a new stake in shares of Colgate-Palmolive during the third quarter worth $29,000. Vermillion & White Wealth Management Group LLC lifted its stake in Colgate-Palmolive by 86.1% in the second quarter. Vermillion & White Wealth Management Group LLC now owns 335 shares of the company's stock valued at $30,000 after buying an additional 155 shares during the period. Cloud Capital Management LLC acquired a new position in Colgate-Palmolive in the third quarter valued at about $30,000. MTM Investment Management LLC bought a new position in Colgate-Palmolive during the second quarter worth about $39,000. Finally, Louisbourg Investments Inc. grew its position in shares of Colgate-Palmolive by 94.7% during the 3rd quarter. Louisbourg Investments Inc. now owns 514 shares of the company's stock worth $41,000 after buying an additional 250 shares during the period. Institutional investors and hedge funds own 80.41% of the company's stock.

Insider Transactions at Colgate-Palmolive

In other news, CFO Stanley J. Sutula III sold 97,843 shares of the firm's stock in a transaction that occurred on 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 directly owned 55,310 shares of the company's stock, valued at $5,214,073.70. This trade represents a 63.89% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, COO Panagiotis Tsourapas sold 35,000 shares of Colgate-Palmolive stock in a transaction that occurred on Wednesday, February 11th. The shares were 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 owned 10,415 shares in the company, valued at $985,363.15. This trade represents a 77.07% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last 90 days, insiders sold 184,683 shares of company stock worth $17,486,693. Insiders own 0.41% of the company's stock.

Colgate-Palmolive Price Performance

Shares of NYSE CL opened at $92.90 on Tuesday. The company has a fifty day moving average price of $89.24 and a 200 day moving average price of $83.08. The firm has a market cap of $74.88 billion, a PE ratio of 35.46, a PEG ratio of 4.22 and a beta of 0.28. The company has a current ratio of 0.83, a quick ratio of 0.54 and a debt-to-equity ratio of 18.82. Colgate-Palmolive Company has a 1-year low of $74.54 and a 1-year high of $100.18.

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, beating the consensus estimate of $0.91 by $0.04. The firm had revenue of $5.23 billion for the quarter, compared to the consensus estimate of $5.13 billion. Colgate-Palmolive had a return on equity of 353.72% and a net margin of 10.45%.The company's revenue for the quarter was up 5.8% on a year-over-year basis. During the same quarter last year, the business posted $0.91 EPS. Research analysts predict that Colgate-Palmolive Company will post 3.75 earnings per share for the current fiscal year.

Colgate-Palmolive Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, February 13th. Shareholders of record on Wednesday, January 21st were paid a $0.52 dividend. The ex-dividend date was Wednesday, January 21st. This represents a $2.08 annualized dividend and a yield of 2.2%. Colgate-Palmolive's payout ratio is presently 79.39%.

Analyst Ratings Changes

CL has been the subject of a number of recent analyst reports. Citigroup upped their price target on Colgate-Palmolive from $95.00 to $105.00 and gave the company a "buy" rating in a research note on Monday, February 2nd. Rothschild & Co Redburn set a $93.00 target price on shares of Colgate-Palmolive in a research note on Friday, February 13th. Barclays increased their target price on shares of Colgate-Palmolive from $83.00 to $88.00 and gave the stock an "equal weight" rating in a report on Tuesday, February 3rd. JPMorgan Chase & Co. upped their price objective on shares of Colgate-Palmolive from $93.00 to $97.00 and gave the company an "overweight" rating in a research report on Monday, February 2nd. Finally, TD Cowen reaffirmed a "buy" rating on shares of Colgate-Palmolive in a research note on Monday, February 2nd. Eleven equities research analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $94.75.

Colgate-Palmolive Company 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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