Norden Group LLC Reduces Stock Holdings in Colgate-Palmolive Company $CL

Key Points

• Norden Group LLC cut its stake in Colgate-Palmolive by 86.2%, selling 76,326 shares in the 4th quarter and retaining 12,169 shares worth about $962,000 per its SEC filing.
• Colgate beat quarterly expectations with EPS of $0.95 (vs. $0.91) and revenue of $5.23B (+5.8% YoY), and raised its quarterly dividend to $0.53 (annualized $2.12, ~2.5% yield).
• Significant insider selling has occurred recently—184,683 shares (~$17.49M) sold in the last 90 days (insiders now own 0.34%)—while analysts have raised price targets and the consensus rating is a "Moderate Buy" with a $94.75 target.

Norden Group LLC reduced its holdings in shares of Colgate-Palmolive Company (NYSE:CL - Free Report) by 86.2% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 12,169 shares of the company's stock after selling 76,326 shares during the period. Norden Group LLC's holdings in Colgate-Palmolive were worth $962,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also added to or reduced their stakes in CL. Copia Wealth Management purchased a new stake in shares of Colgate-Palmolive during the third quarter worth about $29,000. Cloud Capital Management LLC purchased a new position in shares of Colgate-Palmolive in the 3rd quarter valued at approximately $30,000. Global Wealth Strategies & Associates boosted 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. Grove Bank & Trust boosted 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. Finally, Kelleher Financial Advisors purchased a new stake in Colgate-Palmolive during the 3rd quarter worth approximately $35,000. Institutional investors and hedge funds own 80.41% of the company's stock.

Colgate-Palmolive Stock Up 0.1%

Shares of CL opened at $84.25 on Friday. The company has a market capitalization of $67.59 billion, a price-to-earnings ratio of 32.16, a PEG ratio of 3.77 and a beta of 0.28. Colgate-Palmolive Company has a 52 week low of $74.54 and a 52 week high of $99.33. The stock's 50-day moving average price is $91.11 and its 200-day moving average price is $83.38. 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 (NYSE:CL - Get Free Report) last announced its quarterly earnings results on Friday, January 30th. The company reported $0.95 earnings per share (EPS) for the quarter, beating 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 company had revenue of $5.23 billion during the quarter, compared to the consensus estimate of $5.13 billion. During the same period in the previous year, the company posted $0.91 earnings per share. Colgate-Palmolive's revenue for the quarter was up 5.8% on a year-over-year basis. On average, sell-side analysts predict that Colgate-Palmolive Company will post 3.75 EPS for the current year.

Colgate-Palmolive Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, May 15th. Investors 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 annualized dividend and a dividend yield of 2.5%. This is an increase from Colgate-Palmolive's previous quarterly dividend of $0.52. Colgate-Palmolive's dividend payout ratio (DPR) is presently 79.39%.

Insider Activity

In related news, insider Sally Massey sold 15,851 shares of the stock in a transaction 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 approximately $1,306,757.53. This represents a 53.55% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, COO Panagiotis Tsourapas sold 35,000 shares of the firm's stock in a transaction 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 sale, the chief operating officer owned 10,415 shares in the company, valued at approximately $985,363.15. This represents a 77.07% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last 90 days, insiders have sold 184,683 shares of company stock valued at $17,486,693. 0.34% of the stock is currently owned by company insiders.

Analyst Ratings Changes

A number of research analysts have issued reports on CL shares. Citigroup upped their price target on shares of Colgate-Palmolive from $95.00 to $105.00 and gave the company a "buy" rating in a research note on Monday, February 2nd. UBS Group boosted their price objective on shares of Colgate-Palmolive from $90.00 to $93.00 and gave the company a "buy" rating in a report on Wednesday, January 14th. Wells Fargo & Company upped their target price on Colgate-Palmolive from $86.00 to $94.00 and gave the company an "equal weight" rating in a research report on Sunday, February 1st. JPMorgan Chase & Co. lifted their price objective on shares of Colgate-Palmolive from $93.00 to $97.00 and gave the company an "overweight" rating in a research note on Monday, February 2nd. Finally, Morgan Stanley upped their price objective on shares of Colgate-Palmolive from $87.00 to $100.00 and gave the company an "overweight" rating in a report on Monday, February 2nd. Eleven equities research analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company's stock. According to MarketBeat.com, Colgate-Palmolive currently has an average rating of "Moderate Buy" and a consensus target price of $94.75.

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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