Colgate-Palmolive Company $CL Shares Sold by Premier Fund Managers Ltd

Premier Fund Managers Ltd lessened its stake in Colgate-Palmolive Company (NYSE:CL) by 68.0% in the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 36,033 shares of the company’s stock after selling 76,505 shares during the period. Premier Fund Managers Ltd’s holdings in Colgate-Palmolive were worth $2,866,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also recently modified their holdings of the stock. Maseco LLP purchased a new position in Colgate-Palmolive during the fourth quarter valued at approximately $27,000. Copia Wealth Management purchased a new stake in Colgate-Palmolive in the 3rd quarter worth approximately $29,000. Cloud Capital Management LLC purchased a new stake in Colgate-Palmolive in the 3rd quarter worth approximately $30,000. Global Wealth Strategies & Associates grew its stake in shares of Colgate-Palmolive by 300.0% during the 4th quarter. Global Wealth Strategies & Associates now owns 400 shares of the company’s stock worth $32,000 after purchasing an additional 300 shares during the period. Finally, Grove Bank & Trust increased its holdings in shares of Colgate-Palmolive by 182.6% during the 4th quarter. Grove Bank & Trust now owns 407 shares of the company’s stock valued at $32,000 after purchasing an additional 263 shares in the last quarter. Hedge funds and other institutional investors own 80.41% of the company’s stock.

Colgate-Palmolive Stock Performance

NYSE:CL opened at $88.21 on Thursday. The company has a debt-to-equity ratio of 16.33, a quick ratio of 0.29 and a current ratio of 1.02. The stock has a market capitalization of $70.77 billion, a PE ratio of 34.32, a P/E/G ratio of 4.47 and a beta of 0.31. Colgate-Palmolive Company has a fifty-two week low of $74.54 and a fifty-two week high of $99.33. The company has a fifty day moving average of $87.60 and a two-hundred day moving average of $84.28.

Colgate-Palmolive (NYSE:CL) last announced its earnings results on Friday, May 1st. The company reported $0.97 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.94 by $0.03. Colgate-Palmolive had a net margin of 10.04% and a return on equity of 386.76%. The business had revenue of $5.32 billion for the quarter, compared to analyst estimates of $5.22 billion. During the same quarter last year, the business earned $0.91 earnings per share. The company’s revenue for the quarter was up 8.4% compared to the same quarter last year. As a group, research analysts forecast that Colgate-Palmolive Company will post 3.83 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 Friday, May 15th. Shareholders of record on Monday, April 20th will be paid a dividend of $0.53 per share. This is an increase from Colgate-Palmolive’s previous quarterly dividend of $0.52. The ex-dividend date is Monday, April 20th. This represents a $2.12 annualized dividend and a yield of 2.4%. Colgate-Palmolive’s dividend payout ratio (DPR) is presently 82.49%.

Insider Buying and Selling

In other news, COO Panagiotis Tsourapas sold 35,000 shares of Colgate-Palmolive stock in a transaction that occurred on 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 sale, the chief operating officer directly owned 10,415 shares of the company’s stock, valued at $985,363.15. The trade was a 77.07% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, insider John Hazlin sold 20,989 shares of the stock in a transaction that occurred on Tuesday, February 10th. The shares were 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. This represents a 54.33% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold 70,989 shares of company stock valued at $6,756,713 in the last three months. Insiders own 0.43% of the company’s stock.

Analysts Set New Price Targets

A number of analysts recently issued reports on CL shares. UBS Group increased their price target on shares of Colgate-Palmolive from $98.00 to $100.00 and gave the stock a “buy” rating in a report on Monday. Royal Bank Of Canada reiterated an “outperform” rating and issued a $102.00 price objective on shares of Colgate-Palmolive in a research report on Monday. Weiss Ratings raised shares of Colgate-Palmolive from a “hold (c)” rating to a “hold (c+)” rating in a research note on Monday. Deutsche Bank Aktiengesellschaft restated a “buy” rating and set a $99.00 target price on shares of Colgate-Palmolive in a research report on Monday. Finally, Wells Fargo & Company reduced their price target on Colgate-Palmolive from $100.00 to $92.00 and set an “equal weight” rating for the company in a report on Wednesday, April 8th. Twelve analysts have rated the stock with a Buy rating and six have given a Hold rating to the stock. According to MarketBeat.com, Colgate-Palmolive currently has a consensus rating of “Moderate Buy” and an average target price of $95.88.

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.