State of New Jersey Common Pension Fund D Has $20.19 Million Stake in Colgate-Palmolive Company $CL

Key Points

• State of New Jersey Common Pension Fund D trimmed its Colgate‑Palmolive stake by 5.2% in Q4, selling 14,103 shares and now holds 255,549 shares valued at about $20.19 million.
• Company insiders have been sizable net sellers recently, disposing of 184,683 shares worth roughly $17.49 million over the last 90 days (notable sales by Sally Massey and John Hazlin), leaving insiders with just 0.43% ownership.
• Colgate beat quarterly expectations (EPS $0.95 vs. $0.91; revenue $5.23B vs. $5.13B), raised its quarterly dividend to $0.53 (annualized $2.12, ~2.5% yield), and holds a consensus Moderate Buy rating with an average price target of $95.56.

State of New Jersey Common Pension Fund D decreased its position in Colgate-Palmolive Company (NYSE:CL - Free Report) by 5.2% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 255,549 shares of the company's stock after selling 14,103 shares during the quarter. State of New Jersey Common Pension Fund D's holdings in Colgate-Palmolive were worth $20,193,000 as of its most recent SEC filing.

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

Insiders Place Their Bets

In other Colgate-Palmolive news, insider Sally Massey sold 15,851 shares of the company's stock in a transaction on Thursday, February 5th. The stock was sold at an average price of $95.03, for a total transaction of $1,506,320.53. Following the completion of the sale, the insider directly owned 13,751 shares in the company, valued at $1,306,757.53. This represents a 53.55% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider John Hazlin sold 20,989 shares of the company's stock in a transaction on Tuesday, February 10th. The stock was sold at an average price of $94.25, for a total value of $1,978,213.25. Following the sale, the insider owned 17,645 shares of the company's stock, valued at $1,663,041.25. The trade was a 54.33% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold 184,683 shares of company stock valued at $17,486,693 over the last ninety days. Company insiders own 0.43% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently issued reports on the company. Barclays reduced their price target on Colgate-Palmolive from $88.00 to $79.00 and set an "equal weight" rating on the stock in a research report on Tuesday, April 14th. UBS Group reduced their price target on Colgate-Palmolive from $100.00 to $98.00 and set a "buy" rating on the stock in a research report on Tuesday, April 7th. JPMorgan Chase & Co. reduced their price target on Colgate-Palmolive from $97.00 to $95.00 and set an "overweight" rating on the stock in a research report on Friday, April 17th. Jefferies Financial Group increased their price target on Colgate-Palmolive from $85.00 to $91.00 and gave the stock a "hold" rating in a research report on Monday, February 2nd. Finally, Citigroup increased 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. Twelve analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company's stock. According to data from MarketBeat, Colgate-Palmolive presently has a consensus rating of "Moderate Buy" and an average price target of $95.56.

Colgate-Palmolive Stock Up 1.1%

NYSE CL opened at $85.40 on Friday. The business has a fifty day moving average price of $87.95 and a two-hundred day moving average price of $84.06. The company has a debt-to-equity ratio of 18.82, a current ratio of 0.83 and a quick ratio of 0.54. Colgate-Palmolive Company has a fifty-two week low of $74.54 and a fifty-two week high of $99.33. The stock has a market capitalization of $68.51 billion, a PE ratio of 32.59, a PEG ratio of 4.32 and a beta of 0.34.

Colgate-Palmolive (NYSE:CL - Get Free Report) last released its earnings results on Friday, January 30th. The company reported $0.95 earnings per share for the quarter, topping the consensus estimate of $0.91 by $0.04. Colgate-Palmolive had a return on equity of 353.72% and a net margin of 10.45%.The firm had revenue of $5.23 billion during the quarter, compared to analysts' expectations of $5.13 billion. During the same period in the prior year, the company earned $0.91 earnings per share. The company's quarterly revenue was up 5.8% on a year-over-year basis. Equities analysts expect that Colgate-Palmolive Company will post 3.85 earnings per share for the current fiscal year.

Colgate-Palmolive Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, May 15th. Shareholders of record on Monday, April 20th will be paid a dividend of $0.53 per share. The ex-dividend date is Monday, April 20th. This is a boost from Colgate-Palmolive's previous quarterly dividend of $0.52. This represents a $2.12 annualized dividend and a yield of 2.5%. Colgate-Palmolive's dividend payout ratio is currently 80.92%.

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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