Optas LLC Trims Holdings in Colgate-Palmolive (NYSE:CL)

Optas LLC reduced its holdings in shares of Colgate-Palmolive (NYSE:CL) by 2.3% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 5,443 shares of the company’s stock after selling 129 shares during the period. Optas LLC’s holdings in Colgate-Palmolive were worth $490,000 at the end of the most recent reporting period.

Several other hedge funds have also bought and sold shares of the business. Vest Financial LLC grew its position in Colgate-Palmolive by 25.1% during the 4th quarter. Vest Financial LLC now owns 370,071 shares of the company’s stock valued at $29,498,000 after purchasing an additional 74,337 shares during the last quarter. Central Bank & Trust Co. increased its position in shares of Colgate-Palmolive by 22.1% during the fourth quarter. Central Bank & Trust Co. now owns 1,383 shares of the company’s stock valued at $110,000 after acquiring an additional 250 shares in the last quarter. Dynamic Advisor Solutions LLC raised its holdings in Colgate-Palmolive by 9.2% in the 4th quarter. Dynamic Advisor Solutions LLC now owns 10,808 shares of the company’s stock worth $864,000 after acquiring an additional 910 shares during the last quarter. Sarasin & Partners LLP lifted its position in Colgate-Palmolive by 1.2% in the 4th quarter. Sarasin & Partners LLP now owns 4,053,634 shares of the company’s stock valued at $323,115,000 after acquiring an additional 49,980 shares in the last quarter. Finally, Cornerstone Wealth Management LLC boosted its stake in Colgate-Palmolive by 2.5% during the 4th quarter. Cornerstone Wealth Management LLC now owns 7,170 shares of the company’s stock valued at $571,000 after purchasing an additional 172 shares during the last quarter. Institutional investors own 80.41% of the company’s stock.

Insider Transactions at Colgate-Palmolive

In other news, insider Sally Massey sold 12,226 shares of Colgate-Palmolive stock in a transaction that occurred on Thursday, May 9th. The shares were sold at an average price of $94.06, for a total transaction of $1,149,977.56. Following the sale, the insider now owns 13,924 shares in the company, valued at $1,309,691.44. The transaction was disclosed in a document filed with the SEC, which is available at this link. In other news, insider Sally Massey sold 12,226 shares of Colgate-Palmolive stock in a transaction dated Thursday, May 9th. The stock was sold at an average price of $94.06, for a total value of $1,149,977.56. Following the sale, the insider now directly owns 13,924 shares of the company’s stock, valued at $1,309,691.44. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider John W. Kooyman sold 3,497 shares of the stock in a transaction that occurred on Tuesday, May 7th. The shares were sold at an average price of $93.47, for a total value of $326,864.59. Following the transaction, the insider now directly owns 3,181 shares of the company’s stock, valued at $297,328.07. The disclosure for this sale can be found here. Corporate insiders own 0.34% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have recently issued reports on CL shares. Argus upped their price target on Colgate-Palmolive from $97.00 to $107.00 and gave the company a “buy” rating in a report on Wednesday, May 15th. Stifel Nicolaus raised their price target on shares of Colgate-Palmolive from $94.00 to $95.00 and gave the company a “buy” rating in a report on Monday, April 29th. Wells Fargo & Company lifted their price target on shares of Colgate-Palmolive from $90.00 to $92.00 and gave the stock an “equal weight” rating in a research note on Monday, April 29th. Evercore ISI increased their price objective on shares of Colgate-Palmolive from $90.00 to $96.00 and gave the company an “outperform” rating in a research report on Monday, April 8th. Finally, Royal Bank of Canada lifted their target price on shares of Colgate-Palmolive from $88.00 to $95.00 and gave the stock a “sector perform” rating in a research report on Monday, April 29th. Three analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $93.83.

Colgate-Palmolive Stock Performance

Shares of NYSE:CL traded down $1.13 during mid-day trading on Friday, reaching $97.04. 11,036,315 shares of the company traded hands, compared to its average volume of 3,769,464. The company’s 50 day moving average price is $93.87 and its 200-day moving average price is $87.63. The firm has a market cap of $79.62 billion, a PE ratio of 30.71, a PEG ratio of 3.57 and a beta of 0.39. Colgate-Palmolive has a 52 week low of $67.62 and a 52 week high of $99.08. The company has a debt-to-equity ratio of 13.21, a current ratio of 1.06 and a quick ratio of 0.70.

Colgate-Palmolive (NYSE:CL) last posted its quarterly earnings results on Friday, April 26th. The company reported $0.86 earnings per share for the quarter, topping analysts’ consensus estimates of $0.82 by $0.04. The business had revenue of $5.07 billion during the quarter, compared to analyst estimates of $4.96 billion. Colgate-Palmolive had a net margin of 13.22% and a return on equity of 485.40%. The company’s revenue was up 6.2% on a year-over-year basis. During the same period in the prior year, the business posted $0.73 earnings per share. On average, equities analysts expect that Colgate-Palmolive will post 3.53 EPS for the current fiscal year.

Colgate-Palmolive Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, August 15th. Stockholders of record on Friday, July 19th will be given a $0.50 dividend. The ex-dividend date is Friday, July 19th. This represents a $2.00 annualized dividend and a dividend yield of 2.06%. Colgate-Palmolive’s payout ratio is 63.29%.

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.