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New York State Teachers Retirement System Sells 98,870 Shares of Colgate-Palmolive Company $CL

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Key Points

  • New York State Teachers Retirement System cut its Colgate stake by 13.1%, selling 98,870 shares in Q4 and now holds 657,603 shares (about 0.08% of the company) valued at roughly $51.96 million.
  • Colgate beat Q1 expectations—reporting $0.97 EPS and $5.32B revenue (up 8.4% YoY)—while the board expanded its strategic growth/restructuring program and raised the quarterly dividend to $0.53 (annualized $2.12, 2.4% yield).
  • Analyst sentiment has improved, with several firms raising targets or ratings; the stock's consensus is a Moderate Buy with an average price target near $95.56.
  • MarketBeat previews the top five stocks to own by June 1st.

New York State Teachers Retirement System reduced its stake in shares of Colgate-Palmolive Company (NYSE:CL - Free Report) by 13.1% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 657,603 shares of the company's stock after selling 98,870 shares during the quarter. New York State Teachers Retirement System owned approximately 0.08% of Colgate-Palmolive worth $51,964,000 as of its most recent SEC filing.

Other institutional investors also recently added to or reduced their stakes in the company. Maseco LLP purchased a new stake in shares of Colgate-Palmolive during the fourth quarter valued at about $27,000. Copia Wealth Management purchased a new position in shares of Colgate-Palmolive in the 3rd quarter worth approximately $29,000. Cloud Capital Management LLC bought a new position in shares of Colgate-Palmolive during the 3rd quarter worth approximately $30,000. Global Wealth Strategies & Associates raised its stake in shares of Colgate-Palmolive by 300.0% during the 4th quarter. Global Wealth Strategies & Associates now owns 400 shares of the company's stock worth $32,000 after acquiring an additional 300 shares in the last quarter. Finally, Grove Bank & Trust lifted its position in Colgate-Palmolive by 182.6% during 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 during the last quarter. Institutional investors own 80.41% of the company's stock.

Analyst Ratings Changes

A number of equities analysts have recently issued reports on the company. Citigroup upped their price target on Colgate-Palmolive from $95.00 to $105.00 and gave the stock a "buy" rating in a research report on Monday, February 2nd. Deutsche Bank Aktiengesellschaft raised Colgate-Palmolive from a "hold" rating to a "buy" rating and upped their target price for the company from $90.00 to $98.00 in a research report on Monday, March 30th. Royal Bank Of Canada set a $102.00 price target on Colgate-Palmolive in a research note on Thursday, April 9th. The Goldman Sachs Group restated a "buy" rating on shares of Colgate-Palmolive in a research note on Friday. Finally, Weiss Ratings restated a "hold (c)" rating on shares of Colgate-Palmolive in a report on Wednesday, January 21st. Twelve research analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the stock. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $95.56.

Check Out Our Latest Stock Report on Colgate-Palmolive

Colgate-Palmolive Stock Performance

Shares of Colgate-Palmolive stock opened at $87.15 on Friday. The business's 50 day moving average price is $87.95 and its 200 day moving average price is $84.06. The company has a debt-to-equity ratio of 18.82, a quick ratio of 0.54 and a current ratio of 0.83. The company has a market cap of $69.92 billion, a price-to-earnings ratio of 33.26, a PEG ratio of 4.37 and a beta of 0.31. 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 released its quarterly earnings data on Friday, May 1st. The company reported $0.97 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.94 by $0.03. Colgate-Palmolive had a net margin of 10.45% and a return on equity of 353.72%. The firm had revenue of $5.32 billion during the quarter, compared to analysts' expectations of $5.22 billion. During the same period last year, the business earned $0.91 earnings per share. Colgate-Palmolive's revenue was up 8.4% compared to the same quarter last year. On average, research analysts predict that Colgate-Palmolive Company will post 3.85 EPS for the current 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 issued a dividend of $0.53 per share. The ex-dividend date is Monday, April 20th. This represents a $2.12 dividend on an annualized basis and a dividend yield of 2.4%. This is a boost from Colgate-Palmolive's previous quarterly dividend of $0.52. Colgate-Palmolive's dividend payout ratio (DPR) is currently 80.92%.

Insider Activity at Colgate-Palmolive

In related 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 transaction of $1,506,320.53. Following the sale, the insider directly owned 13,751 shares of the company's stock, valued at $1,306,757.53. This represents a 53.55% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, COO Panagiotis Tsourapas sold 35,000 shares of the 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 sale, the chief operating officer owned 10,415 shares in the company, valued at approximately $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 three months, insiders sold 184,683 shares of company stock worth $17,486,693. 0.43% of the stock is owned by corporate insiders.

Trending Headlines about Colgate-Palmolive

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Colgate-Palmolive Profile

(Free Report)

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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Institutional Ownership by Quarter for Colgate-Palmolive (NYSE:CL)

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

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