Main Street Research LLC Sells 475 Shares of Colgate-Palmolive (NYSE:CL)

Main Street Research LLC reduced its stake in Colgate-Palmolive (NYSE:CL) by 5.6% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 7,978 shares of the company’s stock after selling 475 shares during the period. Main Street Research LLC’s holdings in Colgate-Palmolive were worth $636,000 at the end of the most recent reporting period.

A number of other large investors have also recently made changes to their positions in the stock. OFI Invest Asset Management purchased a new stake in shares of Colgate-Palmolive in the third quarter worth $25,000. Avion Wealth raised its position in shares of Colgate-Palmolive by 78.1% in the fourth quarter. Avion Wealth now owns 399 shares of the company’s stock worth $32,000 after buying an additional 175 shares in the last quarter. McGlone Suttner Wealth Management Inc. purchased a new stake in shares of Colgate-Palmolive in the fourth quarter worth $34,000. Quarry LP raised its position in shares of Colgate-Palmolive by 48.2% in the second quarter. Quarry LP now owns 446 shares of the company’s stock worth $34,000 after buying an additional 145 shares in the last quarter. Finally, Kayne Anderson Rudnick Investment Management LLC raised its position in shares of Colgate-Palmolive by 142.0% in the third quarter. Kayne Anderson Rudnick Investment Management LLC now owns 496 shares of the company’s stock worth $35,000 after buying an additional 291 shares in the last quarter. 80.41% of the stock is owned by institutional investors.

Insider Buying and Selling

In other Colgate-Palmolive news, CEO Noel R. Wallace sold 69,948 shares of the firm’s stock in a transaction that occurred on Tuesday, February 20th. The shares were sold at an average price of $84.22, for a total value of $5,891,020.56. Following the completion of the sale, the chief executive officer now directly owns 286,881 shares in the company, valued at $24,161,117.82. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. In other Colgate-Palmolive news, CEO Noel R. Wallace sold 69,948 shares of the business’s stock in a transaction that occurred on Tuesday, February 20th. The stock was sold at an average price of $84.22, for a total transaction of $5,891,020.56. Following the completion of the sale, the chief executive officer now directly owns 286,881 shares in the company, valued at approximately $24,161,117.82. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, insider Jennifer Daniels sold 61,633 shares of the stock in a transaction that occurred on Thursday, February 1st. The stock was sold at an average price of $83.93, for a total value of $5,172,857.69. Following the completion of the transaction, the insider now owns 57,948 shares of the company’s stock, valued at $4,863,575.64. The disclosure for this sale can be found here. Insiders have sold 232,371 shares of company stock valued at $19,505,099 in the last ninety days. 0.37% of the stock is owned by company insiders.

Colgate-Palmolive Price Performance

Colgate-Palmolive stock traded up $0.32 during mid-day trading on Tuesday, hitting $86.49. The stock had a trading volume of 1,546,562 shares, compared to its average volume of 4,531,878. The firm has a market capitalization of $71.09 billion, a P/E ratio of 31.00, a P/E/G ratio of 3.26 and a beta of 0.42. The company has a current ratio of 1.11, a quick ratio of 0.71 and a debt-to-equity ratio of 8.59. The firm’s 50 day moving average is $86.87 and its 200 day moving average is $80.48. Colgate-Palmolive has a one year low of $67.62 and a one year high of $90.37.

Colgate-Palmolive (NYSE:CL) last released its quarterly earnings data 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 business 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. The business’s revenue was up 6.9% on a year-over-year basis. On average, sell-side analysts forecast that Colgate-Palmolive will post 3.49 earnings per share for the current fiscal year.

Colgate-Palmolive Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 15th. Investors of record on Monday, April 22nd will be given a $0.50 dividend. This is a positive change from Colgate-Palmolive’s previous quarterly dividend of $0.48. This represents a $2.00 dividend on an annualized basis and a yield of 2.31%. The ex-dividend date is Friday, April 19th. Colgate-Palmolive’s dividend payout ratio is 69.06%.

Analyst Upgrades and Downgrades

CL has been the topic of a number of research reports. Citigroup raised their price target on Colgate-Palmolive from $95.00 to $100.00 and gave the company a “buy” rating in a research report on Tuesday. JPMorgan Chase & Co. lifted their price objective on Colgate-Palmolive from $88.00 to $90.00 and gave the stock an “overweight” rating in a report on Thursday, January 18th. Barclays lifted their price objective on Colgate-Palmolive from $82.00 to $84.00 and gave the stock an “equal weight” rating in a report on Friday. StockNews.com cut Colgate-Palmolive from a “strong-buy” rating to a “buy” rating in a research note on Tuesday, February 20th. Finally, TheStreet raised Colgate-Palmolive from a “c+” rating to a “b+” rating in a research note on Friday, January 26th. Three research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target 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.