Optas LLC Trims Stake in Colgate-Palmolive Company $CL

Optas LLC reduced its holdings in shares of Colgate-Palmolive Company (NYSE:CL) by 40.6% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 17,115 shares of the company’s stock after selling 11,693 shares during the period. Optas LLC’s holdings in Colgate-Palmolive were worth $1,352,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in CL. ProShare Advisors LLC increased its stake in shares of Colgate-Palmolive by 11.0% in the third quarter. ProShare Advisors LLC now owns 2,047,542 shares of the company’s stock worth $163,681,000 after purchasing an additional 202,379 shares in the last quarter. Providence Capital Advisors LLC purchased a new stake in shares of Colgate-Palmolive in the third quarter worth $5,373,000. Asset Management One Co. Ltd. increased its stake in shares of Colgate-Palmolive by 3.9% in the third 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. increased its stake in shares of Colgate-Palmolive by 43.7% in 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 in the last quarter. Finally, TD Waterhouse Canada Inc. increased its stake in shares of Colgate-Palmolive by 248.5% in the third quarter. TD Waterhouse Canada Inc. now owns 87,410 shares of the company’s stock worth $6,909,000 after purchasing an additional 62,327 shares in the last quarter. 80.41% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Colgate-Palmolive

In related news, insider John Hazlin sold 20,989 shares of the firm’s stock in a transaction 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 directly owned 17,645 shares of the company’s stock, valued at approximately $1,663,041.25. This trade represents a 54.33% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CFO Stanley J. Sutula III sold 97,843 shares of the firm’s stock in a transaction on Wednesday, February 4th. The shares were sold at an average price of $94.27, for a total transaction of $9,223,659.61. Following the transaction, the chief financial officer directly owned 55,310 shares of the company’s stock, valued at $5,214,073.70. The trade was a 63.89% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last ninety days, insiders sold 184,683 shares of company stock valued at $17,486,693. Insiders own 0.43% of the company’s stock.

Colgate-Palmolive Stock Performance

CL opened at $83.49 on Tuesday. The stock has a market capitalization of $66.98 billion, a price-to-earnings ratio of 31.87, a PEG ratio of 4.28 and a beta of 0.34. The company has a fifty day moving average of $89.78 and a 200 day moving average of $83.81. 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 debt-to-equity ratio of 18.82, a quick ratio of 0.54 and a current ratio of 0.83.

Colgate-Palmolive (NYSE:CL) last posted its earnings results on Friday, January 30th. The company reported $0.95 earnings per share for the quarter, beating the consensus estimate of $0.91 by $0.04. The company had revenue of $5.23 billion during the quarter, compared to analysts’ expectations of $5.13 billion. Colgate-Palmolive had a net margin of 10.45% and a return on equity of 353.72%. Colgate-Palmolive’s quarterly revenue was up 5.8% on a year-over-year basis. During the same period last year, the company posted $0.91 earnings per share. As a group, sell-side analysts forecast that Colgate-Palmolive Company will post 3.87 earnings per share for the current fiscal year.

Colgate-Palmolive Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, May 15th. Investors of record on Monday, April 20th will be paid a dividend of $0.53 per share. 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 annualized dividend and a yield of 2.5%. Colgate-Palmolive’s dividend payout ratio is 79.39%.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on the stock. Weiss Ratings reissued a “hold (c)” rating on shares of Colgate-Palmolive in a research note on Wednesday, January 21st. Wells Fargo & Company reduced their price objective on shares of Colgate-Palmolive from $100.00 to $92.00 and set an “equal weight” rating for the company in a research note on Wednesday, April 8th. Royal Bank Of Canada set a $102.00 price objective on shares of Colgate-Palmolive in a research note on Thursday, April 9th. Jefferies Financial Group increased their price objective on shares of Colgate-Palmolive from $85.00 to $91.00 and gave the stock a “hold” rating in a research note on Monday, February 2nd. Finally, 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. Twelve analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus 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.