Sumitomo Mitsui Trust Group Inc. Sells 81,070 Shares of Colgate-Palmolive Company $CL

Key Points

• Sumitomo Mitsui Trust Group sold 81,070 shares of Colgate-Palmolive, cutting its stake by 4.1% to 1,878,388 shares (about 0.23% of the company) valued at roughly $148.43 million at quarter-end.
• Colgate boosted its quarterly dividend to $0.53 (annualized $2.12) with an ex-dividend date of April 20 and a payment date of May 15, implying a ~2.5% yield.
• Analysts remain generally positive with a MarketBeat consensus of "Moderate Buy" and a consensus target of $96.13, though price targets range roughly from $92 to $102 and some ratings have been mixed.

Sumitomo Mitsui Trust Group Inc. decreased its holdings in Colgate-Palmolive Company (NYSE:CL - Free Report) by 4.1% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 1,878,388 shares of the company's stock after selling 81,070 shares during the quarter. Sumitomo Mitsui Trust Group Inc. owned approximately 0.23% of Colgate-Palmolive worth $148,430,000 at the end of the most recent reporting period.

Other institutional investors also recently modified their holdings of the company. Maseco LLP bought a new stake in shares of Colgate-Palmolive in the fourth quarter worth $27,000. Copia Wealth Management bought a new stake in shares of Colgate-Palmolive in the third quarter worth $29,000. Cloud Capital Management LLC bought a new stake in shares of Colgate-Palmolive in the third quarter worth $30,000. Global Wealth Strategies & Associates boosted 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 acquiring an additional 300 shares during the last quarter. Finally, Grove Bank & Trust boosted 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 acquiring an additional 263 shares during the last quarter. Institutional investors own 80.41% of the company's stock.

Wall Street Analysts Forecast Growth

CL has been the subject of several research analyst reports. Wells Fargo & Company lowered their price objective on Colgate-Palmolive from $100.00 to $92.00 and set an "equal weight" rating for the company in a research report on Wednesday, April 8th. Rothschild & Co Redburn set a $93.00 target price on Colgate-Palmolive in a research report on Friday, February 13th. Deutsche Bank Aktiengesellschaft upgraded Colgate-Palmolive from a "hold" rating to a "buy" rating and upped their target price for the company from $90.00 to $98.00 in a research report on Monday, March 30th. Royal Bank Of Canada set a $102.00 target price on Colgate-Palmolive in a research report on Thursday. Finally, Wall Street Zen lowered Colgate-Palmolive from a "buy" rating to a "hold" rating in a research report on Sunday, March 29th. Eleven research analysts have rated the stock with a Buy rating and six have issued a Hold rating to the stock. According to MarketBeat, Colgate-Palmolive currently has a consensus rating of "Moderate Buy" and a consensus target price of $96.13.

Colgate-Palmolive Stock Down 0.0%

Shares of Colgate-Palmolive stock opened at $84.31 on Monday. The firm has a market cap of $67.64 billion, a price-to-earnings ratio of 32.18, a PEG ratio of 3.89 and a beta of 0.34. The stock's 50-day moving average is $90.94 and its 200 day moving average is $83.61. 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 one year low of $74.54 and a one year high of $99.33.

Colgate-Palmolive (NYSE:CL - Get Free Report) last released its quarterly earnings data 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. The company had revenue of $5.23 billion for the quarter, compared to analysts' expectations of $5.13 billion. Colgate-Palmolive had a net margin of 10.45% and a return on equity of 353.72%. The business's revenue was up 5.8% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.91 EPS. Equities research analysts anticipate that Colgate-Palmolive Company will post 3.75 EPS 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 given a dividend of $0.53 per share. 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 dividend on an annualized basis and a dividend yield of 2.5%. Colgate-Palmolive's payout ratio is currently 80.92%.

Insider Activity at Colgate-Palmolive

In other news, insider Sally Massey sold 15,851 shares of the stock in a transaction dated 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 transaction, the insider owned 13,751 shares of the company's stock, valued at $1,306,757.53. This represents a 53.55% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider John Hazlin sold 20,989 shares of the stock in a transaction dated Tuesday, February 10th. The stock was sold at an average price of $94.25, for a total transaction of $1,978,213.25. Following the transaction, the insider directly owned 17,645 shares in the company, valued at $1,663,041.25. This trade represents a 54.33% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold 184,683 shares of company stock worth $17,486,693 over the last quarter. Company insiders own 0.34% of the company's stock.

Colgate-Palmolive Company 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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