Kimelman & Baird LLC Trims Stake in Colgate-Palmolive (NYSE:CL)

Kimelman & Baird LLC reduced its position in Colgate-Palmolive (NYSE:CL) by 63.2% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 3,500 shares of the company’s stock after selling 6,000 shares during the quarter. Kimelman & Baird LLC’s holdings in Colgate-Palmolive were worth $318,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Diamond Hill Capital Management Inc. purchased a new position in shares of Colgate-Palmolive during the fourth quarter worth $348,718,000. FMR LLC raised its holdings in shares of Colgate-Palmolive by 65.6% during the third quarter. FMR LLC now owns 6,749,275 shares of the company’s stock worth $700,642,000 after purchasing an additional 2,674,807 shares during the last quarter. AMF Tjanstepension AB raised its holdings in shares of Colgate-Palmolive by 1,088.8% during the fourth quarter. AMF Tjanstepension AB now owns 2,569,394 shares of the company’s stock worth $233,584,000 after purchasing an additional 2,353,268 shares during the last quarter. Barclays PLC raised its holdings in shares of Colgate-Palmolive by 38.7% during the third quarter. Barclays PLC now owns 7,644,189 shares of the company’s stock worth $793,542,000 after purchasing an additional 2,132,747 shares during the last quarter. Finally, State Street Corp raised its holdings in shares of Colgate-Palmolive by 3.8% during the third quarter. State Street Corp now owns 48,436,276 shares of the company’s stock worth $5,028,170,000 after purchasing an additional 1,784,411 shares during the last quarter. 80.41% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of research firms have weighed in on CL. Barclays cut their price objective on shares of Colgate-Palmolive from $96.00 to $83.00 and set an “equal weight” rating for the company in a report on Friday, January 17th. Wells Fargo & Company dropped their target price on shares of Colgate-Palmolive from $92.00 to $83.00 and set an “underweight” rating on the stock in a research report on Tuesday, January 7th. TD Cowen dropped their target price on shares of Colgate-Palmolive from $110.00 to $100.00 and set a “buy” rating on the stock in a research report on Wednesday, January 8th. Piper Sandler dropped their target price on shares of Colgate-Palmolive from $121.00 to $112.00 and set an “overweight” rating on the stock in a research report on Monday, January 6th. Finally, StockNews.com lowered shares of Colgate-Palmolive from a “buy” rating to a “hold” rating in a research report on Friday. One investment analyst has rated the stock with a sell rating, ten have assigned a hold rating and eleven have given a buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $101.72.

Colgate-Palmolive Price Performance

Colgate-Palmolive stock opened at $89.80 on Monday. The company’s 50 day simple moving average is $89.02 and its 200-day simple moving average is $94.67. The company has a market capitalization of $72.87 billion, a price-to-earnings ratio of 25.51, a price-to-earnings-growth ratio of 4.20 and a beta of 0.40. Colgate-Palmolive has a 1 year low of $85.32 and a 1 year high of $109.30. The company has a debt-to-equity ratio of 13.40, a quick ratio of 0.58 and a current ratio of 0.92.

Colgate-Palmolive (NYSE:CL) last announced its earnings results on Friday, January 31st. The company reported $0.91 earnings per share for the quarter, topping the consensus estimate of $0.90 by $0.01. Colgate-Palmolive had a net margin of 14.38% and a return on equity of 477.77%. During the same quarter in the prior year, the company posted $0.87 EPS. As a group, equities research analysts expect that Colgate-Palmolive will post 3.75 earnings per share for the current year.

About Colgate-Palmolive

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.