Ossiam Lowers Stock Holdings in Colgate-Palmolive Company $CL

Key Points

• Ossiam cut its stake in Colgate‑Palmolive by 9.1% in Q3, selling 28,966 shares and leaving it with 289,726 shares valued at about $23.16 million.
• Insider selling was heavy: insiders disposed of 184,683 shares in the last quarter (roughly $17.49 million), including large reductions by John Hazlin and COO Panagiotis Tsourapas.
• Company outlook: Colgate beat quarterly EPS and saw revenue rise 5.8%, raised its quarterly dividend to $0.53 (annualized $2.12, yield 2.4%), and several analysts lifted price targets contributing to a consensus "Moderate Buy" with an average target of $94.75.

Ossiam cut its holdings in Colgate-Palmolive Company (NYSE:CL - Free Report) by 9.1% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 289,726 shares of the company's stock after selling 28,966 shares during the quarter. Ossiam's holdings in Colgate-Palmolive were worth $23,161,000 as of its most recent SEC filing.

Other large investors have also made changes to their positions in the company. NorthRock Partners LLC raised its position in Colgate-Palmolive by 62.9% during the third quarter. NorthRock Partners LLC now owns 15,282 shares of the company's stock worth $1,222,000 after acquiring an additional 5,899 shares during the period. Prudential PLC grew its position in shares of Colgate-Palmolive by 61.8% in the third quarter. Prudential PLC now owns 117,827 shares of the company's stock valued at $9,419,000 after purchasing an additional 45,022 shares during the period. Texas Capital Bancshares Inc TX purchased a new stake in shares of Colgate-Palmolive during the third quarter worth about $168,000. United Financial Planning Group LLC acquired a new position in shares of Colgate-Palmolive during the 3rd quarter worth about $69,000. Finally, Perbak Capital Partners LLP purchased a new position in Colgate-Palmolive in the 3rd quarter valued at about $968,000. 80.41% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Colgate-Palmolive

In related news, insider John Hazlin sold 20,989 shares of the stock in a transaction that occurred on Tuesday, February 10th. The shares were sold at an average price of $94.25, for a total transaction of $1,978,213.25. Following the completion of the transaction, the insider owned 17,645 shares of the company's stock, valued at approximately $1,663,041.25. This trade represents a 54.33% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, COO Panagiotis Tsourapas sold 35,000 shares of the business's stock in a transaction that occurred on Wednesday, February 11th. The shares were sold at an average price of $94.61, for a total value of $3,311,350.00. Following the completion of the sale, the chief operating officer directly owned 10,415 shares in the company, valued at approximately $985,363.15. The trade was a 77.07% decrease in their position. The SEC filing for this sale provides additional information. In the last quarter, insiders have sold 184,683 shares of company stock valued at $17,486,693. 0.34% of the stock is owned by insiders.

Colgate-Palmolive Price Performance

Shares of CL stock opened at $88.85 on Friday. 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 company has a market capitalization of $71.62 billion, a PE ratio of 33.91, a price-to-earnings-growth ratio of 3.94 and a beta of 0.28. The firm's 50-day moving average is $90.11 and its two-hundred day moving average is $83.24. Colgate-Palmolive Company has a 12 month low of $74.54 and a 12 month high of $99.33.

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, topping analysts' consensus estimates of $0.91 by $0.04. Colgate-Palmolive had a net margin of 10.45% and a return on equity of 353.72%. The business 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 firm earned $0.91 EPS. The business's revenue was up 5.8% compared to the same quarter last year. Analysts predict that Colgate-Palmolive Company will post 3.75 earnings per share for the current year.

Colgate-Palmolive Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, May 15th. Stockholders of record on Monday, April 20th will be issued a $0.53 dividend. The ex-dividend date is Monday, April 20th. This represents a $2.12 annualized dividend and a dividend yield of 2.4%. This is an increase from Colgate-Palmolive's previous quarterly dividend of $0.52. Colgate-Palmolive's dividend payout ratio (DPR) is currently 79.39%.

Analysts Set New Price Targets

Several equities research analysts have commented on the company. Piper Sandler boosted their price objective on Colgate-Palmolive from $88.00 to $96.00 and gave the stock an "overweight" rating in a research note on Friday, January 30th. Wells Fargo & Company lifted their price target on Colgate-Palmolive from $86.00 to $94.00 and gave the stock an "equal weight" rating in a research note on Sunday, February 1st. Argus reissued a "hold" rating on shares of Colgate-Palmolive in a research note on Thursday, December 11th. Bank of America raised their price objective on Colgate-Palmolive from $90.00 to $100.00 and gave the company a "buy" rating in a report on Monday, February 2nd. Finally, Citigroup lifted their target price on shares of Colgate-Palmolive from $95.00 to $105.00 and gave the stock a "buy" rating in a research note on Monday, February 2nd. Eleven research analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company's stock. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average target price of $94.75.

About Colgate-Palmolive

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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