Wealth Enhancement Advisory Services LLC Trims Stake in Colgate-Palmolive Company $CL

Wealth Enhancement Advisory Services LLC lessened its stake in Colgate-Palmolive Company (NYSE:CL) by 16.0% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 301,550 shares of the company’s stock after selling 57,264 shares during the period. Wealth Enhancement Advisory Services LLC’s holdings in Colgate-Palmolive were worth $23,281,000 at the end of the most recent quarter.

Several other institutional investors have also recently made changes to their positions in CL. NorthCrest Asset Manangement LLC raised its position in shares of Colgate-Palmolive by 21.5% in the fourth quarter. NorthCrest Asset Manangement LLC now owns 5,083 shares of the company’s stock worth $391,000 after acquiring an additional 901 shares during the period. Grove Bank & Trust raised its holdings in Colgate-Palmolive by 182.6% in the 4th quarter. Grove Bank & Trust now owns 407 shares of the company’s stock worth $32,000 after purchasing an additional 263 shares during the period. Wedmont Private Capital boosted its position in Colgate-Palmolive by 70.8% during the fourth quarter. Wedmont Private Capital now owns 16,440 shares of the company’s stock worth $1,267,000 after purchasing an additional 6,813 shares in the last quarter. Pine Haven Investment Counsel Inc grew its holdings in Colgate-Palmolive by 2.8% in the fourth quarter. Pine Haven Investment Counsel Inc now owns 12,351 shares of the company’s stock valued at $976,000 after purchasing an additional 333 shares during the period. Finally, Sarasin & Partners LLP grew its holdings in Colgate-Palmolive by 3.4% in the fourth quarter. Sarasin & Partners LLP now owns 4,347,768 shares of the company’s stock valued at $343,561,000 after purchasing an additional 141,405 shares during the period. 80.41% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other news, COO Panagiotis Tsourapas sold 35,000 shares of Colgate-Palmolive stock in a transaction that occurred on Wednesday, February 11th. The shares were sold at an average price of $94.61, for a total transaction of $3,311,350.00. Following the sale, the chief operating officer owned 10,415 shares of the company’s stock, valued at approximately $985,363.15. The trade was a 77.07% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Sally Massey sold 15,851 shares of the stock in a transaction that occurred on Thursday, February 5th. The stock was sold at an average price of $95.03, for a total value of $1,506,320.53. Following the completion of the transaction, the insider owned 13,751 shares of the company’s stock, valued at $1,306,757.53. The trade was a 53.55% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold 184,683 shares of company stock valued at $17,486,693 over the last three months. 0.41% of the stock is currently owned by company insiders.

Colgate-Palmolive Price Performance

NYSE:CL opened at $84.46 on Wednesday. Colgate-Palmolive Company has a one year low of $74.54 and a one year high of $99.33. The stock has a market cap of $68.08 billion, a PE ratio of 32.24, a P/E/G ratio of 3.81 and a beta of 0.28. The company has a debt-to-equity ratio of 18.82, a quick ratio of 0.54 and a current ratio of 0.83. The stock has a 50 day moving average price of $91.10 and a 200 day moving average price of $83.36.

Colgate-Palmolive (NYSE:CL) last issued its earnings results on Friday, January 30th. The company reported $0.95 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.91 by $0.04. Colgate-Palmolive had a return on equity of 353.72% and a net margin of 10.45%.The company had revenue of $5.23 billion during the quarter, compared to analysts’ expectations of $5.13 billion. During the same period in the prior year, the business earned $0.91 EPS. The firm’s quarterly revenue was up 5.8% on a year-over-year basis. Equities research analysts expect that Colgate-Palmolive Company will post 3.75 EPS 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. Investors of record on Monday, April 20th will be given a dividend of $0.53 per share. The ex-dividend date is Monday, April 20th. This is an increase from Colgate-Palmolive’s previous quarterly dividend of $0.52. This represents a $2.12 annualized dividend and a yield of 2.5%. Colgate-Palmolive’s dividend payout ratio (DPR) is 79.39%.

Analyst Ratings Changes

Several brokerages have recently weighed in on CL. UBS Group upped their target price on Colgate-Palmolive from $90.00 to $93.00 and gave the stock a “buy” rating in a research note on Wednesday, January 14th. JPMorgan Chase & Co. boosted their price target on shares of Colgate-Palmolive from $93.00 to $97.00 and gave the stock an “overweight” rating in a report on Monday, February 2nd. Piper Sandler increased their price objective on shares of Colgate-Palmolive from $88.00 to $96.00 and gave the company an “overweight” rating in a report on Friday, January 30th. Wall Street Zen upgraded shares of Colgate-Palmolive from a “hold” rating to a “buy” rating in a research report on Saturday. Finally, The Goldman Sachs Group reissued a “buy” rating and set a $100.00 target price on shares of Colgate-Palmolive in a research note 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 MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $94.75.

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.