Oxbow Advisors LLC Sells 34,327 Shares of Colgate-Palmolive Company $CL

Key Points

• Oxbow Advisors LLC cut its Colgate-Palmolive position by 46.4% in the fourth quarter, selling 34,327 shares and leaving it with 39,659 shares valued at about $3.13 million.
• Colgate-Palmolive reported better-than-expected quarterly results, posting EPS of $0.97 versus the $0.94 estimate and revenue of $5.32 billion versus $5.22 billion expected. Revenue rose 8.4% year over year.
• The company raised its quarterly dividend to $0.53 per share from $0.52, implying an annualized yield of 2.4%. Analysts currently rate the stock a Moderate Buy with an average price target of $95.88.

Oxbow Advisors LLC reduced its stake in Colgate-Palmolive Company (NYSE:CL - Free Report) by 46.4% in the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 39,659 shares of the company's stock after selling 34,327 shares during the quarter. Oxbow Advisors LLC's holdings in Colgate-Palmolive were worth $3,134,000 at the end of the most recent reporting period.

A number of other large investors have also recently added to or reduced their stakes in the stock. Brighton Jones LLC grew its stake in Colgate-Palmolive by 4.4% in the 4th quarter. Brighton Jones LLC now owns 10,578 shares of the company's stock valued at $962,000 after buying an additional 450 shares during the last quarter. Woodline Partners LP lifted its position in Colgate-Palmolive by 76.3% during the 1st quarter. Woodline Partners LP now owns 46,361 shares of the company's stock worth $4,344,000 after acquiring an additional 20,062 shares during the last quarter. Schnieders Capital Management LLC. lifted its position in Colgate-Palmolive by 2.0% during the 2nd quarter. Schnieders Capital Management LLC. now owns 12,494 shares of the company's stock worth $1,136,000 after acquiring an additional 245 shares during the last quarter. Nebula Research & Development LLC boosted its holdings in Colgate-Palmolive by 165.5% during the second quarter. Nebula Research & Development LLC now owns 10,326 shares of the company's stock valued at $939,000 after acquiring an additional 6,437 shares during the period. Finally, Sei Investments Co. boosted its holdings in Colgate-Palmolive by 21.7% during the second quarter. Sei Investments Co. now owns 657,093 shares of the company's stock valued at $59,732,000 after acquiring an additional 116,968 shares during the period. Institutional investors own 80.41% of the company's stock.

Colgate-Palmolive Trading Up 0.2%

Colgate-Palmolive stock opened at $87.53 on Friday. The business has a 50 day moving average price of $87.38 and a two-hundred day moving average price of $84.34. The company has a quick ratio of 0.29, a current ratio of 1.02 and a debt-to-equity ratio of 16.33. Colgate-Palmolive Company has a 12 month low of $74.54 and a 12 month high of $99.33. The stock has a market cap of $70.22 billion, a price-to-earnings ratio of 34.06, a price-to-earnings-growth ratio of 4.54 and a beta of 0.31.

Colgate-Palmolive (NYSE:CL - Get Free Report) last announced its quarterly earnings data on Friday, May 1st. The company reported $0.97 earnings per share for the quarter, topping the consensus estimate of $0.94 by $0.03. The company had revenue of $5.32 billion for the quarter, compared to analyst estimates of $5.22 billion. Colgate-Palmolive had a return on equity of 386.76% and a net margin of 10.04%.Colgate-Palmolive's revenue for the quarter was up 8.4% compared to the same quarter last year. During the same quarter last year, the firm earned $0.91 EPS. As a group, equities analysts forecast that Colgate-Palmolive Company will post 3.83 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. Shareholders of record on Monday, April 20th will be issued a $0.53 dividend. This is a boost from Colgate-Palmolive's previous quarterly dividend of $0.52. The ex-dividend date of this dividend is Monday, April 20th. This represents a $2.12 annualized dividend and a yield of 2.4%. Colgate-Palmolive's payout ratio is presently 82.49%.

Wall Street Analyst Weigh In

CL has been the topic of a number of recent analyst reports. Piper Sandler dropped their price objective on Colgate-Palmolive from $96.00 to $92.00 and set an "overweight" rating on the stock in a research note on Wednesday, April 8th. Wall Street Zen lowered Colgate-Palmolive from a "buy" rating to a "hold" rating in a report on Sunday, March 29th. Rothschild & Co Redburn set a $100.00 price target on Colgate-Palmolive and gave the stock a "buy" rating in a research report on Tuesday, April 21st. Weiss Ratings upgraded Colgate-Palmolive from a "hold (c)" rating to a "hold (c+)" rating in a report on Monday, May 4th. Finally, The Goldman Sachs Group reissued a "buy" rating on shares of Colgate-Palmolive in a research report on Friday, May 1st. Twelve research analysts have rated the stock with a Buy rating and six have given a Hold rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $95.88.

Insiders Place Their Bets

In other news, COO Panagiotis Tsourapas sold 35,000 shares of the stock in a transaction 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 transaction, 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. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider John Hazlin sold 20,989 shares of Colgate-Palmolive stock in a transaction dated 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 sale, the insider owned 17,645 shares in the company, valued at approximately $1,663,041.25. This trade represents a 54.33% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last 90 days, insiders sold 70,989 shares of company stock valued at $6,756,713. Corporate insiders own 0.43% of the company's stock.

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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