Securian Asset Management Inc. Trims Stock Position in Colgate-Palmolive Company $CL

Key Points

• Securian Asset Management cut its Colgate-Palmolive stake by 43.8% in the fourth quarter, selling 17,113 shares and leaving it with 21,918 shares valued at about $1.73 million.
• Colgate-Palmolive reported better-than-expected Q1 results, with EPS of $0.97 versus the $0.94 estimate and revenue of $5.32 billion, up 8.4% year over year.
• The company also raised its quarterly dividend to $0.53 per share, and Wall Street remains generally constructive, with 12 analysts rating the stock a Buy and a consensus price target of $95.88.

Securian Asset Management Inc. lessened its holdings in shares of Colgate-Palmolive Company (NYSE:CL - Free Report) by 43.8% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 21,918 shares of the company's stock after selling 17,113 shares during the period. Securian Asset Management Inc.'s holdings in Colgate-Palmolive were worth $1,732,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also recently made changes to their positions in CL. Maseco LLP acquired a new stake in Colgate-Palmolive during the fourth quarter valued at $27,000. Copia Wealth Management acquired a new stake in Colgate-Palmolive during the third quarter valued at $29,000. Cloud Capital Management LLC acquired a new stake in Colgate-Palmolive during the third quarter valued at $30,000. Global Wealth Strategies & Associates grew its position in Colgate-Palmolive by 300.0% during the fourth quarter. Global Wealth Strategies & Associates now owns 400 shares of the company's stock valued at $32,000 after buying an additional 300 shares during the period. Finally, Grove Bank & Trust grew 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 buying an additional 263 shares during the period. Hedge funds and other institutional investors own 80.41% of the company's stock.

Insider Activity

In other news, COO Panagiotis Tsourapas sold 15,000 shares of Colgate-Palmolive stock in a transaction dated Thursday, February 12th. The shares were 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. This trade represents a 59.02% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 0.43% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

Several research firms recently commented on CL. Deutsche Bank Aktiengesellschaft restated a "buy" rating and set a $99.00 price target on shares of Colgate-Palmolive in a research report on Monday, May 4th. Barclays raised their price target on shares of Colgate-Palmolive from $79.00 to $80.00 and gave the company an "equal weight" rating in a research report on Tuesday, May 5th. Wells Fargo & Company dropped their price target on shares of Colgate-Palmolive from $100.00 to $92.00 and set an "equal weight" rating on the stock in a research report on Wednesday, April 8th. TD Cowen restated a "hold" rating and set a $85.00 price target on shares of Colgate-Palmolive in a research report on Tuesday, March 31st. Finally, Jefferies Financial Group raised their price target on shares of Colgate-Palmolive from $85.00 to $91.00 and gave the company a "hold" rating in a research report on Monday, February 2nd. Twelve research analysts have rated the stock with a Buy rating and six have given a Hold rating to the company's stock. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus price target of $95.88.

Colgate-Palmolive Stock Down 1.0%

Shares of NYSE CL opened at $86.68 on Tuesday. The company's 50-day simple moving average is $86.98 and its 200-day simple moving average is $84.46. Colgate-Palmolive Company has a 52-week low of $74.54 and a 52-week high of $99.33. The firm has a market cap of $69.54 billion, a price-to-earnings ratio of 33.73, a price-to-earnings-growth ratio of 4.54 and a beta of 0.31. The company has a quick ratio of 0.67, a current ratio of 1.02 and a debt-to-equity ratio of 16.33.

Colgate-Palmolive (NYSE:CL - Get Free Report) last announced its earnings results on Friday, May 1st. The company reported $0.97 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.94 by $0.03. Colgate-Palmolive had a net margin of 10.04% and a return on equity of 386.76%. The business had revenue of $5.32 billion for the quarter, compared to analyst estimates of $5.22 billion. During the same quarter last year, the business earned $0.91 earnings per share. The company's revenue for the quarter was up 8.4% compared to the same quarter last year. Equities analysts predict that Colgate-Palmolive Company will post 3.83 EPS for the current fiscal year.

Colgate-Palmolive Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, May 15th. Stockholders of record on Monday, April 20th will be given a $0.53 dividend. This represents a $2.12 annualized dividend and a dividend yield of 2.4%. This is a positive change from Colgate-Palmolive's previous quarterly dividend of $0.52. The ex-dividend date is Monday, April 20th. Colgate-Palmolive's dividend payout ratio (DPR) is 82.49%.

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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