Ossiam Cuts Stock Position in Colgate-Palmolive Company $CL

Ossiam lessened its holdings in shares of Colgate-Palmolive Company (NYSE:CL) by 9.1% during the 3rd quarter, Holdings Channel reports. The firm owned 289,726 shares of the company’s stock after selling 28,966 shares during the period. Ossiam’s holdings in Colgate-Palmolive were worth $23,161,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also made changes to their positions in the company. ProShare Advisors LLC increased its position in shares of Colgate-Palmolive by 11.0% during the third quarter. ProShare Advisors LLC now owns 2,047,542 shares of the company’s stock worth $163,681,000 after acquiring an additional 202,379 shares during the period. Providence Capital Advisors LLC acquired a new stake in shares of Colgate-Palmolive in the third quarter valued at $5,373,000. Asset Management One Co. Ltd. boosted its holdings in Colgate-Palmolive by 3.9% in the third quarter. Asset Management One Co. Ltd. now owns 422,292 shares of the company’s stock valued at $33,758,000 after purchasing an additional 16,017 shares during the period. Citigroup Inc. grew its stake in Colgate-Palmolive by 43.7% during the 3rd quarter. Citigroup Inc. now owns 1,346,590 shares of the company’s stock worth $107,646,000 after purchasing an additional 409,710 shares in the last quarter. Finally, Vanguard Group Inc. grew its stake in Colgate-Palmolive by 1.2% during the 2nd quarter. Vanguard Group Inc. now owns 82,751,689 shares of the company’s stock worth $7,522,129,000 after purchasing an additional 993,432 shares in the last quarter. Hedge funds and other institutional investors own 80.41% of the company’s stock.

Colgate-Palmolive Price Performance

CL stock opened at $88.85 on Friday. The business has a 50 day moving average price of $90.11 and a 200 day moving average price of $83.24. The company has a quick ratio of 0.54, a current ratio of 0.83 and a debt-to-equity ratio of 18.82. The stock has a market cap of $71.62 billion, a price-to-earnings ratio of 33.91, a PEG ratio of 3.94 and a beta of 0.28. Colgate-Palmolive Company has a fifty-two week low of $74.54 and a fifty-two week high of $99.33.

Colgate-Palmolive (NYSE:CL) last announced its quarterly earnings results on Friday, January 30th. The company reported $0.95 EPS for the quarter, beating the consensus estimate of $0.91 by $0.04. Colgate-Palmolive had a net margin of 10.45% and a return on equity of 353.72%. The company had revenue of $5.23 billion for the quarter, compared to analyst estimates of $5.13 billion. During the same period in the prior year, the firm posted $0.91 earnings per share. The firm’s revenue was up 5.8% on a year-over-year basis. Equities research analysts anticipate that Colgate-Palmolive Company will post 3.75 earnings per share for the current fiscal year.

Colgate-Palmolive Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, May 15th. Investors of record on Monday, April 20th will be given a $0.53 dividend. This is a positive change 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 2.4%. Colgate-Palmolive’s payout ratio is 79.39%.

Insider Activity at Colgate-Palmolive

In other news, insider Sally Massey sold 15,851 shares of Colgate-Palmolive stock in a transaction dated Thursday, February 5th. The stock was sold at an average price of $95.03, for a total transaction of $1,506,320.53. Following the sale, the insider owned 13,751 shares in the company, valued at approximately $1,306,757.53. The trade was a 53.55% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Stanley J. Sutula III sold 97,843 shares of the business’s stock in a transaction dated Wednesday, February 4th. The shares were sold at an average price of $94.27, for a total value of $9,223,659.61. Following the completion of the sale, the chief financial officer directly owned 55,310 shares of the company’s stock, valued at $5,214,073.70. The trade was a 63.89% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold 184,683 shares of company stock valued at $17,486,693 over the last quarter. 0.34% of the stock is owned by insiders.

Analyst Ratings Changes

CL has been the topic of a number of analyst reports. Citigroup increased their price target on Colgate-Palmolive from $95.00 to $105.00 and gave the company a “buy” rating in a research report on Monday, February 2nd. Royal Bank Of Canada upgraded shares of Colgate-Palmolive from a “sector perform” rating to an “outperform” rating and set a $88.00 target price on the stock in a research note on Tuesday, December 9th. Morgan Stanley raised their target price on shares of Colgate-Palmolive from $87.00 to $100.00 and gave the company an “overweight” rating in a report on Monday, February 2nd. Rothschild & Co Redburn set a $93.00 price target on shares of Colgate-Palmolive in a research note on Friday, February 13th. Finally, Deutsche Bank Aktiengesellschaft increased their price objective on shares of Colgate-Palmolive from $83.00 to $90.00 and gave the company a “hold” rating in a research report on Monday, February 2nd. Eleven analysts have rated the stock with a Buy rating and six have given a Hold rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $94.75.

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.