Intact Investment Management Inc. Lowers Holdings in Colgate-Palmolive Company $CL

Intact Investment Management Inc. trimmed its holdings in Colgate-Palmolive Company (NYSE:CL) by 72.7% during the 4th quarter, Holdings Channel.com reports. The firm owned 24,400 shares of the company’s stock after selling 65,100 shares during the period. Intact Investment Management Inc.’s holdings in Colgate-Palmolive were worth $1,928,000 as of its most recent filing with the SEC.

Several other hedge funds also recently added to or reduced their stakes in the business. PKO Investment Management Joint Stock Co purchased a new stake in Colgate-Palmolive in the fourth quarter valued at $1,797,000. Legacy Edge Advisors LLC purchased a new stake in Colgate-Palmolive in the fourth quarter valued at $208,000. CX Institutional boosted its holdings in Colgate-Palmolive by 21.0% in the fourth quarter. CX Institutional now owns 92,262 shares of the company’s stock valued at $7,291,000 after purchasing an additional 15,983 shares during the last quarter. Wilkins Investment Counsel Inc. boosted its holdings in Colgate-Palmolive by 2.4% in the fourth quarter. Wilkins Investment Counsel Inc. now owns 111,909 shares of the company’s stock valued at $8,843,000 after purchasing an additional 2,570 shares during the last quarter. Finally, Composition Wealth LLC boosted its holdings in Colgate-Palmolive by 7.0% in the fourth quarter. Composition Wealth LLC now owns 11,000 shares of the company’s stock valued at $869,000 after purchasing an additional 720 shares during the last quarter. 80.41% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Colgate-Palmolive

In related news, insider Sally Massey sold 15,851 shares of the company’s 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 completion of the transaction, the insider owned 13,751 shares in the company, 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 at the SEC website. Also, CFO Stanley J. Sutula III sold 97,843 shares of the company’s stock in a transaction dated Wednesday, February 4th. The stock was sold at an average price of $94.27, for a total transaction of $9,223,659.61. Following the transaction, the chief financial officer owned 55,310 shares of the company’s stock, valued at approximately $5,214,073.70. This trade represents a 63.89% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold 184,683 shares of company stock worth $17,486,693 in the last quarter. Company insiders own 0.43% of the company’s stock.

Colgate-Palmolive Trading Down 2.3%

Shares of Colgate-Palmolive stock opened at $85.28 on Tuesday. The firm has a 50-day simple moving average of $87.95 and a two-hundred day simple moving average of $84.15. The company has a market cap of $68.42 billion, a P/E ratio of 33.18, a price-to-earnings-growth ratio of 4.46 and a beta of 0.31. Colgate-Palmolive Company has a fifty-two week low of $74.54 and a fifty-two week high of $99.33. The company has a debt-to-equity ratio of 18.82, a quick ratio of 0.29 and a current ratio of 0.44.

Colgate-Palmolive (NYSE:CL) last issued its quarterly earnings data on Friday, May 1st. The company reported $0.97 earnings per share for the quarter, topping analysts’ consensus estimates of $0.94 by $0.03. The business had revenue of $5.32 billion during the quarter, compared to the consensus estimate of $5.22 billion. Colgate-Palmolive had a net margin of 10.04% and a return on equity of 386.76%. The company’s revenue was up 8.4% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.91 earnings per share. As a group, equities analysts predict that Colgate-Palmolive Company will post 3.85 earnings per share for the current fiscal year.

Colgate-Palmolive Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, May 15th. Investors 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 is Monday, April 20th. This represents a $2.12 annualized dividend and a dividend yield of 2.5%. Colgate-Palmolive’s payout ratio is currently 82.49%.

Analyst Ratings Changes

Several equities research analysts have commented on the stock. Citigroup upped their price target on shares of Colgate-Palmolive from $95.00 to $105.00 and gave the company a “buy” rating in a report on Monday, February 2nd. TD Cowen reiterated a “hold” rating and issued a $85.00 price objective on shares of Colgate-Palmolive in a research report on Tuesday, March 31st. Royal Bank Of Canada reiterated an “outperform” rating and issued a $102.00 price objective on shares of Colgate-Palmolive in a research report on Monday. Rothschild & Co Redburn set a $100.00 price objective on shares of Colgate-Palmolive and gave the stock a “buy” rating in a research report on Tuesday, April 21st. Finally, Piper Sandler decreased their price objective on shares of Colgate-Palmolive from $96.00 to $92.00 and set an “overweight” rating for the company in a research report on Wednesday, April 8th. Twelve equities research analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $95.81.

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.