Desjardins Global Asset Management Inc. Decreases Stake in Colgate-Palmolive (NYSE:CL)

Desjardins Global Asset Management Inc. cut its position in Colgate-Palmolive (NYSE:CL) by 25.7% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 7,284 shares of the company’s stock after selling 2,516 shares during the period. Desjardins Global Asset Management Inc.’s holdings in Colgate-Palmolive were worth $581,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently bought and sold shares of the business. OFI Invest Asset Management purchased a new stake in Colgate-Palmolive in the 3rd quarter worth approximately $25,000. Avion Wealth lifted its holdings in Colgate-Palmolive by 78.1% in the fourth quarter. Avion Wealth now owns 399 shares of the company’s stock valued at $32,000 after acquiring an additional 175 shares during the last quarter. McGlone Suttner Wealth Management Inc. acquired a new position in shares of Colgate-Palmolive in the 4th quarter valued at $34,000. Quarry LP lifted its position in Colgate-Palmolive by 48.2% in the second quarter. Quarry LP now owns 446 shares of the company’s stock valued at $34,000 after buying an additional 145 shares during the last quarter. Finally, Kayne Anderson Rudnick Investment Management LLC boosted its position in shares of Colgate-Palmolive by 142.0% during the 3rd quarter. Kayne Anderson Rudnick Investment Management LLC now owns 496 shares of the company’s stock worth $35,000 after purchasing an additional 291 shares during the period. Institutional investors and hedge funds own 80.41% of the company’s stock.

Colgate-Palmolive Stock Performance

Shares of CL stock opened at $86.77 on Thursday. The stock’s 50-day moving average is $86.97 and its two-hundred day moving average is $80.63. The company has a debt-to-equity ratio of 8.59, a quick ratio of 0.71 and a current ratio of 1.11. Colgate-Palmolive has a 1 year low of $67.62 and a 1 year high of $90.37. The firm has a market cap of $71.32 billion, a price-to-earnings ratio of 31.21, a PEG ratio of 3.24 and a beta of 0.42.

Colgate-Palmolive (NYSE:CL) last released its quarterly earnings results on Friday, January 26th. The company reported $0.87 EPS for the quarter, beating the consensus estimate of $0.85 by $0.02. Colgate-Palmolive had a net margin of 11.82% and a return on equity of 509.75%. The firm had revenue of $4.95 billion during the quarter, compared to the consensus estimate of $4.89 billion. During the same quarter in the prior year, the firm earned $0.77 EPS. Colgate-Palmolive’s revenue for the quarter was up 6.9% on a year-over-year basis. Analysts predict that Colgate-Palmolive will post 3.49 earnings per share for the current year.

Colgate-Palmolive Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, May 15th. Stockholders of record on Monday, April 22nd will be paid a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a dividend yield of 2.30%. The ex-dividend date is Friday, April 19th. This is a boost from Colgate-Palmolive’s previous quarterly dividend of $0.48. Colgate-Palmolive’s dividend payout ratio is 69.06%.

Insider Buying and Selling

In other news, Director C Martin Harris sold 2,760 shares of Colgate-Palmolive stock in a transaction dated Wednesday, January 31st. The shares were sold at an average price of $84.50, for a total value of $233,220.00. Following the sale, the director now owns 19,272 shares of the company’s stock, valued at $1,628,484. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In other news, Director C Martin Harris sold 2,760 shares of the firm’s stock in a transaction that occurred on Wednesday, January 31st. The stock was sold at an average price of $84.50, for a total value of $233,220.00. Following the completion of the sale, the director now directly owns 19,272 shares of the company’s stock, valued at approximately $1,628,484. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Jennifer Daniels sold 3,538 shares of the stock in a transaction on Tuesday, February 20th. The stock was sold at an average price of $84.67, for a total value of $299,562.46. Following the completion of the transaction, the insider now owns 59,698 shares of the company’s stock, valued at approximately $5,054,629.66. The disclosure for this sale can be found here. Insiders sold a total of 232,371 shares of company stock valued at $19,505,099 over the last three months. 0.34% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on the company. TheStreet upgraded Colgate-Palmolive from a “c+” rating to a “b+” rating in a report on Friday, January 26th. The Goldman Sachs Group initiated coverage on Colgate-Palmolive in a report on Friday, March 1st. They issued a “buy” rating and a $93.00 target price for the company. JPMorgan Chase & Co. upped their price target on Colgate-Palmolive from $88.00 to $90.00 and gave the stock an “overweight” rating in a report on Thursday, January 18th. Morgan Stanley lifted their price objective on Colgate-Palmolive from $85.00 to $93.00 and gave the company an “overweight” rating in a research note on Monday, January 29th. Finally, Barclays upped their target price on shares of Colgate-Palmolive from $82.00 to $84.00 and gave the stock an “equal weight” rating in a research note on Friday, April 12th. Three equities research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $89.50.

Colgate-Palmolive Company Profile

Colgate-Palmolive Company, together with its subsidiaries, manufactures and sells consumer products in the United States and internationally. It operates through two segments: Oral, Personal and Home Care; and Pet Nutrition. The Oral, Personal and Home Care segment offers toothpaste, toothbrushes, mouthwash, bar and liquid hand soaps, shower gels, shampoos, conditioners, deodorants and antiperspirants, skin health products, dishwashing detergents, fabric conditioners, household cleaners, and other related items.