Mirae Asset Global Investments Co. Ltd. Purchases 21,109 Shares of Colgate-Palmolive Company $CL

Key Points

• Mirae Asset increased its stake in Colgate‑Palmolive by 10.5%, adding 21,109 shares to hold 221,443 shares worth about $17.5 million at quarter end.
• Insiders have been significant net sellers — the CFO sold 97,843 shares and the COO 15,000, with insiders disposing of 184,683 shares (~$17.49 million) over the last 90 days and now owning 0.43% of the stock.
• Colgate raised its quarterly dividend to $0.53 (2.5% yield) and posted a quarterly EPS beat ($0.95 vs. $0.91) as analysts maintain a consensus rating of "Moderate Buy" with a $95.44 target.

Mirae Asset Global Investments Co. Ltd. lifted its position in Colgate-Palmolive Company (NYSE:CL - Free Report) by 10.5% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 221,443 shares of the company's stock after acquiring an additional 21,109 shares during the quarter. Mirae Asset Global Investments Co. Ltd.'s holdings in Colgate-Palmolive were worth $17,498,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. Maseco LLP bought a new stake in shares of Colgate-Palmolive in the fourth quarter valued at about $27,000. Copia Wealth Management bought a new stake in shares of Colgate-Palmolive in the third quarter valued at about $29,000. Cloud Capital Management LLC bought a new stake in shares of Colgate-Palmolive in the third quarter valued at about $30,000. Global Wealth Strategies & Associates raised its holdings in shares of Colgate-Palmolive by 300.0% in the fourth 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 holdings in shares of Colgate-Palmolive by 182.6% in the fourth quarter. Grove Bank & Trust now owns 407 shares of the company's stock valued at $32,000 after acquiring an additional 263 shares in the last quarter. 80.41% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other news, CFO Stanley J. Sutula III sold 97,843 shares of the business's stock in a transaction dated Wednesday, February 4th. The stock was sold at an average price of $94.27, for a total transaction of $9,223,659.61. Following the sale, the chief financial officer owned 55,310 shares in the company, valued at approximately $5,214,073.70. The trade was a 63.89% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, COO Panagiotis Tsourapas sold 15,000 shares of the business's stock in a transaction dated Thursday, February 12th. The stock was sold at an average price of $97.81, for a total value of $1,467,150.00. Following the sale, the chief operating officer owned 10,415 shares in the company, valued at $1,018,691.15. The trade was a 59.02% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 184,683 shares of company stock worth $17,486,693 over the last ninety days. Insiders own 0.43% of the company's stock.

Analyst Ratings Changes

Several analysts recently weighed in on CL shares. Bank of America decreased their price objective on Colgate-Palmolive from $105.00 to $102.00 and set a "buy" rating for the company in a report on Friday, April 10th. Jefferies Financial Group lifted their target price on Colgate-Palmolive from $85.00 to $91.00 and gave the company a "hold" rating in a research note on Monday, February 2nd. UBS Group cut their target price on Colgate-Palmolive from $100.00 to $98.00 and set a "buy" rating on the stock in a research note on Tuesday, April 7th. Royal Bank Of Canada set a $102.00 target price on Colgate-Palmolive in a research note on Thursday, April 9th. Finally, Barclays cut their target price on Colgate-Palmolive from $88.00 to $79.00 and set an "equal weight" rating on the stock in a research note on Tuesday. Eleven analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $95.44.

Colgate-Palmolive Price Performance

CL opened at $85.83 on Friday. The business's 50-day moving average is $89.99 and its two-hundred day moving average is $83.74. Colgate-Palmolive Company has a 1 year low of $74.54 and a 1 year 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 has a market capitalization of $68.86 billion, a PE ratio of 32.76, a price-to-earnings-growth ratio of 4.16 and a beta of 0.34.

Colgate-Palmolive (NYSE:CL - Get Free Report) last issued its quarterly earnings results on Friday, January 30th. The company reported $0.95 earnings per share for the quarter, topping analysts' consensus estimates of $0.91 by $0.04. Colgate-Palmolive had a return on equity of 353.72% and a net margin of 10.45%.The business had revenue of $5.23 billion for the quarter, compared to analyst estimates of $5.13 billion. During the same quarter in the previous year, the firm earned $0.91 earnings per share. The company's revenue was up 5.8% on a year-over-year basis. Research analysts anticipate that Colgate-Palmolive Company will post 3.75 earnings per share for the current fiscal year.

Colgate-Palmolive Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, May 15th. Stockholders of record on Monday, April 20th will be paid a dividend of $0.53 per share. The ex-dividend date is Monday, April 20th. This is a positive change from Colgate-Palmolive's previous quarterly dividend of $0.52. This represents a $2.12 dividend on an annualized basis and a dividend yield of 2.5%. Colgate-Palmolive's payout ratio is presently 80.92%.

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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