Colgate-Palmolive Company $CL Shares Sold by Cannell & Spears LLC

Cannell & Spears LLC cut its stake in Colgate-Palmolive Company (NYSE:CL) by 2.3% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 318,090 shares of the company’s stock after selling 7,605 shares during the period. Cannell & Spears LLC’s holdings in Colgate-Palmolive were worth $25,428,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also recently added to or reduced their stakes in the stock. Brighton Jones LLC raised its holdings in shares of Colgate-Palmolive by 4.4% during the 4th quarter. Brighton Jones LLC now owns 10,578 shares of the company’s stock worth $962,000 after acquiring an additional 450 shares during the period. Woodline Partners LP boosted its position in shares of Colgate-Palmolive by 76.3% during the 1st quarter. Woodline Partners LP now owns 46,361 shares of the company’s stock valued at $4,344,000 after acquiring an additional 20,062 shares during the last quarter. Schnieders Capital Management LLC. grew its holdings in shares of Colgate-Palmolive by 2.0% in the second quarter. Schnieders Capital Management LLC. now owns 12,494 shares of the company’s stock valued at $1,136,000 after purchasing an additional 245 shares during the period. SBI Securities Co. Ltd. increased its position in Colgate-Palmolive by 5.8% during the second quarter. SBI Securities Co. Ltd. now owns 3,366 shares of the company’s stock worth $306,000 after purchasing an additional 185 shares during the last quarter. Finally, Clearstead Trust LLC raised its stake in Colgate-Palmolive by 17.9% during the second quarter. Clearstead Trust LLC now owns 2,765 shares of the company’s stock worth $251,000 after purchasing an additional 419 shares during the period. Hedge funds and other institutional investors own 80.41% of the company’s stock.

Colgate-Palmolive Trading Up 1.0%

Shares of CL stock opened at $88.85 on Friday. Colgate-Palmolive Company has a 1-year low of $74.54 and a 1-year high of $99.33. The firm has a market cap of $71.62 billion, a PE ratio of 33.91, a price-to-earnings-growth ratio of 3.98 and a beta of 0.28. The company has a 50-day moving average of $90.11 and a two-hundred day moving average of $83.23. The company has a debt-to-equity ratio of 18.82, a current ratio of 0.83 and a quick ratio of 0.54.

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

Colgate-Palmolive Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, May 15th. Shareholders of record on Monday, April 20th will be given a $0.53 dividend. The ex-dividend date of this dividend is Monday, April 20th. This is a positive change from Colgate-Palmolive’s previous quarterly dividend of $0.52. This represents a $2.12 dividend on an annualized basis and a yield of 2.4%. Colgate-Palmolive’s dividend payout ratio is presently 79.39%.

Analyst Upgrades and Downgrades

Several research firms have weighed in on CL. 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 report on Tuesday, December 9th. Evercore raised their price target on shares of Colgate-Palmolive from $94.00 to $100.00 and gave the stock an “outperform” rating in a report on Monday, February 2nd. JPMorgan Chase & Co. lifted their price target on shares of Colgate-Palmolive from $93.00 to $97.00 and gave the company an “overweight” rating in a research report on Monday, February 2nd. Rothschild & Co Redburn set a $93.00 price objective on Colgate-Palmolive in a report on Friday, February 13th. Finally, The Goldman Sachs Group reiterated a “buy” rating and issued a $100.00 price objective on shares of Colgate-Palmolive in a research report on Friday, February 20th. Eleven analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $94.75.

Insider Transactions at Colgate-Palmolive

In other news, insider John Hazlin sold 20,989 shares of Colgate-Palmolive stock in a transaction on Tuesday, February 10th. The stock was sold at an average price of $94.25, for a total value of $1,978,213.25. Following the completion of the sale, the insider directly owned 17,645 shares of the company’s stock, valued at approximately $1,663,041.25. The trade was a 54.33% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, COO Panagiotis Tsourapas sold 35,000 shares of the stock in a transaction dated Wednesday, February 11th. The stock was sold at an average price of $94.61, for a total value of $3,311,350.00. Following the transaction, the chief operating officer directly owned 10,415 shares in the company, valued at approximately $985,363.15. The trade was a 77.07% decrease in their position. 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 three months. 0.34% of the stock is currently owned by company insiders.

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.