VIRGINIA RETIREMENT SYSTEMS ET Al Trims Stock Position in Colgate-Palmolive Company $CL

Key Points

• VIRGINIA RETIREMENT SYSTEMS ET Al cut its Colgate-Palmolive stake by 4.8% in the fourth quarter, selling 64,100 shares and leaving it with 1,268,600 shares valued at about $100.2 million.
• Colgate-Palmolive reported better-than-expected quarterly results, with EPS of $0.97 versus $0.94 expected and revenue of $5.32 billion, up 8.4% year over year.
• The company raised its quarterly dividend to $0.53 per share from $0.52, implying an annualized dividend of $2.12 and a yield of 2.4%.

VIRGINIA RETIREMENT SYSTEMS ET Al lowered its position in shares of Colgate-Palmolive Company (NYSE:CL - Free Report) by 4.8% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,268,600 shares of the company's stock after selling 64,100 shares during the period. Colgate-Palmolive accounts for about 0.6% of VIRGINIA RETIREMENT SYSTEMS ET Al's holdings, making the stock its 29th biggest position. VIRGINIA RETIREMENT SYSTEMS ET Al owned 0.16% of Colgate-Palmolive worth $100,245,000 at the end of the most recent reporting period.

Several other hedge funds also recently bought and sold shares of CL. Maseco LLP purchased a new position in Colgate-Palmolive in the 4th quarter worth approximately $27,000. Copia Wealth Management purchased a new position in Colgate-Palmolive in the 3rd quarter worth approximately $29,000. Cloud Capital Management LLC purchased a new position in Colgate-Palmolive in the 3rd quarter worth approximately $30,000. Global Wealth Strategies & Associates grew its stake in Colgate-Palmolive by 300.0% in the 4th quarter. Global Wealth Strategies & Associates now owns 400 shares of the company's stock worth $32,000 after buying an additional 300 shares in the last quarter. Finally, Grove Bank & Trust grew its stake in Colgate-Palmolive by 182.6% in the 4th quarter. Grove Bank & Trust now owns 407 shares of the company's stock worth $32,000 after buying an additional 263 shares in the last quarter. Hedge funds and other institutional investors own 80.41% of the company's stock.

Colgate-Palmolive Trading Up 0.9%

NYSE:CL opened at $87.54 on Wednesday. The company has a fifty day moving average of $86.76 and a 200 day moving average of $84.51. Colgate-Palmolive Company has a 52 week low of $74.54 and a 52 week high of $99.33. The company has a quick ratio of 0.67, a current ratio of 1.02 and a debt-to-equity ratio of 16.33. The firm has a market capitalization of $70.23 billion, a P/E ratio of 34.06, a P/E/G ratio of 4.49 and a beta of 0.31.

Colgate-Palmolive (NYSE:CL - Get Free Report) last posted its quarterly earnings results on Friday, May 1st. The company reported $0.97 EPS for the quarter, beating analysts' consensus estimates of $0.94 by $0.03. Colgate-Palmolive had a net margin of 10.04% and a return on equity of 386.76%. The company had revenue of $5.32 billion during the quarter, compared to analyst estimates of $5.22 billion. During the same period in the prior year, the business posted $0.91 EPS. The firm's revenue was up 8.4% compared to the same quarter last year. On average, research analysts predict that Colgate-Palmolive Company will post 3.83 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. 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 is Monday, April 20th. This represents a $2.12 annualized dividend and a yield of 2.4%. Colgate-Palmolive's dividend payout ratio (DPR) is currently 82.49%.

Insider Buying and Selling

In other Colgate-Palmolive news, COO Panagiotis Tsourapas sold 15,000 shares of the company's stock in a transaction on 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 completion of the transaction, the chief operating officer directly owned 10,415 shares in the company, valued at approximately $1,018,691.15. This represents a 59.02% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 0.43% of the company's stock.

Analyst Ratings Changes

A number of equities analysts have commented on the stock. Bank of America cut their price target on shares of Colgate-Palmolive from $105.00 to $102.00 and set a "buy" rating for the company in a research note on Friday, April 10th. TD Cowen reaffirmed a "hold" rating and issued a $85.00 price objective on shares of Colgate-Palmolive in a research note on Tuesday, March 31st. Jefferies Financial Group upped their price objective on shares of Colgate-Palmolive from $85.00 to $91.00 and gave the company a "hold" rating in a research note on Monday, February 2nd. Deutsche Bank Aktiengesellschaft reaffirmed a "buy" rating and issued a $99.00 price objective on shares of Colgate-Palmolive in a research note on Monday, May 4th. Finally, The Goldman Sachs Group reaffirmed a "buy" rating on shares of Colgate-Palmolive in a research note on Friday, May 1st. Twelve investment analysts have rated the stock with a Buy rating and six have given a Hold rating to the company's stock. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $95.88.

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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