Welch Group LLC Cuts Holdings in Colgate-Palmolive Company $CL

Key Points

• Welch Group LLC cut its Colgate-Palmolive stake by 10.6% in Q4, selling 72,609 shares and now holding 613,176 shares worth about $48.45 million (≈0.08% of Colgate and 1.9% of Welch's portfolio).
• Colgate beat quarterly estimates with EPS of $0.95 vs. $0.91 expected and revenue of $5.23 billion (up 5.8% year-over-year); analysts expect roughly $3.75 EPS for the full year.
• Dividend increased to $0.53 per quarter (from $0.52), annualized $2.12 with a ~2.5% yield; the ex-dividend date is April 20 and the payment date is May 15.

Welch Group LLC decreased its stake in shares of Colgate-Palmolive Company (NYSE:CL - Free Report) by 10.6% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 613,176 shares of the company's stock after selling 72,609 shares during the quarter. Colgate-Palmolive makes up 1.9% of Welch Group LLC's investment portfolio, making the stock its 25th biggest holding. Welch Group LLC owned approximately 0.08% of Colgate-Palmolive worth $48,453,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors also recently bought and sold shares of the company. ProShare Advisors LLC increased its holdings in shares of Colgate-Palmolive by 11.0% in the 3rd quarter. ProShare Advisors LLC now owns 2,047,542 shares of the company's stock valued at $163,681,000 after acquiring an additional 202,379 shares during the last quarter. Providence Capital Advisors LLC purchased a new position in shares of Colgate-Palmolive in the 3rd quarter valued at about $5,373,000. Asset Management One Co. Ltd. increased its holdings in shares of Colgate-Palmolive by 3.9% in the 3rd quarter. Asset Management One Co. Ltd. now owns 422,292 shares of the company's stock valued at $33,758,000 after acquiring an additional 16,017 shares during the last quarter. Citigroup Inc. increased its holdings in shares of Colgate-Palmolive by 43.7% in the 3rd quarter. Citigroup Inc. now owns 1,346,590 shares of the company's stock valued at $107,646,000 after acquiring an additional 409,710 shares during the last quarter. Finally, TD Waterhouse Canada Inc. increased its holdings in shares of Colgate-Palmolive by 248.5% in the 3rd quarter. TD Waterhouse Canada Inc. now owns 87,410 shares of the company's stock valued at $6,909,000 after acquiring an additional 62,327 shares during the last quarter. Hedge funds and other institutional investors own 80.41% of the company's stock.

Colgate-Palmolive Stock Up 0.1%

Colgate-Palmolive stock opened at $83.61 on Friday. Colgate-Palmolive Company has a twelve month low of $74.54 and a twelve month high of $99.33. The stock has a 50 day moving average of $90.16 and a two-hundred day moving average of $83.67. The company has a current ratio of 0.83, a quick ratio of 0.54 and a debt-to-equity ratio of 18.82. The stock has a market capitalization of $67.08 billion, a price-to-earnings ratio of 31.91, a PEG ratio of 4.15 and a beta of 0.34.

Colgate-Palmolive (NYSE:CL - Get Free Report) last posted its quarterly earnings data on Friday, January 30th. The company reported $0.95 earnings per share for the quarter, topping analysts' consensus estimates of $0.91 by $0.04. Colgate-Palmolive had a return on equity of 353.72% and a net margin of 10.45%.The company had revenue of $5.23 billion during the quarter, compared to analysts' expectations of $5.13 billion. During the same period last year, the firm earned $0.91 EPS. The firm's revenue for the quarter was up 5.8% on a year-over-year basis. As a group, research analysts expect that Colgate-Palmolive Company will post 3.75 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 given a dividend of $0.53 per share. This represents a $2.12 dividend on an annualized basis and a yield of 2.5%. The ex-dividend date of this dividend is Monday, April 20th. This is a positive change from Colgate-Palmolive's previous quarterly dividend of $0.52. Colgate-Palmolive's payout ratio is 79.39%.

Analyst Ratings Changes

A number of research analysts have recently commented on CL shares. Royal Bank Of Canada set a $102.00 price objective on Colgate-Palmolive in a report on Thursday, April 9th. Morgan Stanley raised their price target on Colgate-Palmolive from $87.00 to $100.00 and gave the stock an "overweight" rating in a research note on Monday, February 2nd. UBS Group dropped their price target on Colgate-Palmolive from $100.00 to $98.00 and set a "buy" rating on the stock in a research note on Tuesday, April 7th. Barclays dropped their price target on Colgate-Palmolive from $88.00 to $79.00 and set an "equal weight" rating on the stock in a research note on Tuesday. Finally, JPMorgan Chase & Co. raised their price target on Colgate-Palmolive from $93.00 to $97.00 and gave the stock an "overweight" rating in a research note on Monday, February 2nd. Eleven analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company's stock. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus target price of $95.56.

Insider Buying and Selling

In other news, insider Sally Massey sold 15,851 shares of the firm's stock in a transaction that occurred on Thursday, February 5th. The stock was sold at an average price of $95.03, for a total value of $1,506,320.53. Following the completion of the sale, the insider directly owned 13,751 shares of the company's stock, valued at $1,306,757.53. This trade represents a 53.55% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, COO Panagiotis Tsourapas sold 15,000 shares of the firm's stock in a transaction that occurred 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 sale, the chief operating officer directly owned 10,415 shares of the company's stock, valued at $1,018,691.15. This represents a 59.02% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold a total of 184,683 shares of company stock valued at $17,486,693 over the last 90 days. Insiders own 0.43% of the company's stock.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.