Meyer Handelman Co. Sells 6,300 Shares of Colgate-Palmolive Company $CL

Meyer Handelman Co. lowered its stake in shares of Colgate-Palmolive Company (NYSE:CL) by 3.7% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 165,440 shares of the company’s stock after selling 6,300 shares during the period. Meyer Handelman Co.’s holdings in Colgate-Palmolive were worth $13,073,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of the business. ProShare Advisors LLC raised its holdings in Colgate-Palmolive by 11.0% in the 3rd quarter. ProShare Advisors LLC now owns 2,047,542 shares of the company’s stock valued at $163,681,000 after acquiring an additional 202,379 shares during the period. Providence Capital Advisors LLC acquired a new stake in Colgate-Palmolive during the third quarter worth approximately $5,373,000. Asset Management One Co. Ltd. grew its holdings in shares of Colgate-Palmolive by 3.9% during the 3rd quarter. Asset Management One Co. Ltd. now owns 422,292 shares of the company’s stock worth $33,758,000 after purchasing an additional 16,017 shares in the last quarter. Citigroup Inc. lifted its position in Colgate-Palmolive by 43.7% during the third 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 during the period. Finally, TD Waterhouse Canada Inc. boosted its position in shares of Colgate-Palmolive by 248.5% during the 3rd quarter. TD Waterhouse Canada Inc. now owns 87,410 shares of the company’s stock worth $6,909,000 after acquiring an additional 62,327 shares in the last quarter. Institutional investors own 80.41% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on CL. Evercore raised their price objective on Colgate-Palmolive from $94.00 to $100.00 and gave the company an “outperform” rating in a research note on Monday, February 2nd. Argus reaffirmed a “hold” rating on shares of Colgate-Palmolive in a research report on Thursday, December 11th. The Goldman Sachs Group reissued a “buy” rating and issued a $100.00 price objective on shares of Colgate-Palmolive in a research note on Friday, February 20th. Jefferies Financial Group increased their target price on Colgate-Palmolive from $85.00 to $91.00 and gave the stock a “hold” rating in a report on Monday, February 2nd. Finally, Deutsche Bank Aktiengesellschaft upgraded shares of Colgate-Palmolive from a “hold” rating to a “buy” rating and upped their target price for the stock from $90.00 to $98.00 in a research note on Monday. Eleven research analysts have rated the stock with a Buy rating and six have given a Hold rating to the stock. Based on data from MarketBeat, Colgate-Palmolive presently has a consensus rating of “Moderate Buy” and an average target price of $95.19.

Insider Activity

In related news, CFO Stanley J. Sutula III sold 97,843 shares of the firm’s stock in a transaction on Wednesday, February 4th. The stock was 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 in the company, valued at $5,214,073.70. This trade represents a 63.89% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Sally Massey sold 15,851 shares of the company’s 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 completion of the transaction, the insider owned 13,751 shares in the company, valued at $1,306,757.53. This represents a 53.55% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last 90 days, insiders sold 184,683 shares of company stock valued at $17,486,693. 0.41% of the stock is owned by insiders.

Colgate-Palmolive Price Performance

CL stock opened at $85.31 on Wednesday. The company has a current ratio of 0.83, a quick ratio of 0.54 and a debt-to-equity ratio of 18.82. The firm’s 50-day moving average price is $91.13 and its two-hundred day moving average price is $83.40. The stock has a market capitalization of $68.44 billion, a price-to-earnings ratio of 32.56, a PEG ratio of 3.84 and a beta of 0.28. Colgate-Palmolive Company has a 12-month low of $74.54 and a 12-month high of $99.33.

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

Colgate-Palmolive Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, May 15th. Stockholders of record on Monday, April 20th will be paid a dividend of $0.53 per share. The ex-dividend date is Monday, April 20th. This represents a $2.12 annualized dividend and a dividend yield of 2.5%. This is a boost from Colgate-Palmolive’s previous quarterly dividend of $0.52. Colgate-Palmolive’s dividend payout ratio is 80.92%.

About Colgate-Palmolive

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.