LGT Capital Partners LTD. Trims Position in Colgate-Palmolive Company $CL

LGT Capital Partners LTD. lessened its position in shares of Colgate-Palmolive Company (NYSE:CL) by 4.8% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 765,702 shares of the company’s stock after selling 38,489 shares during the period. Colgate-Palmolive makes up about 3.0% of LGT Capital Partners LTD.’s holdings, making the stock its 14th biggest position. LGT Capital Partners LTD. owned 0.09% of Colgate-Palmolive worth $61,210,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently made changes to their positions in the company. Westside Investment Management Inc. grew its holdings in shares of Colgate-Palmolive by 85.5% during the 2nd quarter. Westside Investment Management Inc. now owns 282 shares of the company’s stock valued at $26,000 after purchasing an additional 130 shares during the last quarter. Copia Wealth Management purchased a new position in shares of Colgate-Palmolive during the third quarter valued at approximately $29,000. Vermillion & White Wealth Management Group LLC raised its holdings in Colgate-Palmolive by 86.1% in the 2nd quarter. Vermillion & White Wealth Management Group LLC now owns 335 shares of the company’s stock worth $30,000 after purchasing an additional 155 shares in the last quarter. Cloud Capital Management LLC purchased a new stake in Colgate-Palmolive in the third quarter worth about $30,000. Finally, MTM Investment Management LLC purchased a new position in shares of Colgate-Palmolive in the 2nd quarter valued at approximately $39,000. 80.41% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several analysts recently commented on CL shares. Bank of America increased their price objective on shares of Colgate-Palmolive from $90.00 to $100.00 and gave the company a “buy” rating in a research report on Monday, February 2nd. Evercore raised their price target on Colgate-Palmolive from $94.00 to $100.00 and gave the stock an “outperform” rating in a research note on Monday, February 2nd. JPMorgan Chase & Co. increased their price objective on shares of Colgate-Palmolive from $93.00 to $97.00 and gave the stock an “overweight” rating in a research note on Monday, February 2nd. The Goldman Sachs Group reiterated a “buy” rating and set a $100.00 target price on shares of Colgate-Palmolive in a research report on Friday. Finally, Wells Fargo & Company lifted their target price on Colgate-Palmolive from $86.00 to $94.00 and gave the company an “equal weight” rating in a research note on Sunday, February 1st. Eleven investment analysts have rated the stock with a Buy rating and six have given a Hold rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $94.75.

Colgate-Palmolive Stock Up 2.0%

NYSE:CL opened at $96.97 on Tuesday. The company has a market cap of $78.16 billion, a PE ratio of 37.01, a P/E/G ratio of 4.29 and a beta of 0.29. The company has a current ratio of 0.42, a quick ratio of 0.27 and a debt-to-equity ratio of 5.90. The company’s 50 day moving average is $85.96 and its two-hundred day moving average is $82.34. Colgate-Palmolive Company has a twelve month low of $74.54 and a twelve month high of $100.18.

Colgate-Palmolive (NYSE:CL) last released its quarterly earnings data on Friday, January 30th. The company reported $0.95 EPS for the quarter, beating the consensus estimate of $0.91 by $0.04. The business 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 business’s revenue for the quarter was up 5.8% on a year-over-year basis. During the same period in the prior year, the firm earned $0.91 EPS. Analysts anticipate that Colgate-Palmolive Company will post 3.75 EPS for the current year.

Colgate-Palmolive Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, February 13th. Investors of record on Wednesday, January 21st were paid a $0.52 dividend. This represents a $2.08 annualized dividend and a yield of 2.1%. The ex-dividend date of this dividend was Wednesday, January 21st. Colgate-Palmolive’s dividend payout ratio is currently 79.39%.

Insider Buying and Selling at Colgate-Palmolive

In other Colgate-Palmolive news, COO Panagiotis Tsourapas sold 35,000 shares of the company’s stock in a transaction on Wednesday, February 11th. The stock was sold at an average price of $94.61, for a total transaction of $3,311,350.00. Following the transaction, the chief operating officer directly owned 10,415 shares in the company, valued at $985,363.15. This represents a 77.07% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider John Hazlin sold 20,989 shares of Colgate-Palmolive stock in a transaction that occurred on Tuesday, February 10th. The shares were sold at an average price of $94.25, for a total transaction of $1,978,213.25. Following the completion of the transaction, the insider owned 17,645 shares of the company’s stock, valued at $1,663,041.25. This trade represents a 54.33% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last three months, insiders sold 184,683 shares of company stock valued at $17,486,693. Corporate insiders own 0.41% of the company’s stock.

Colgate-Palmolive 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.