Cannell & Spears LLC Lowers Position in Colgate-Palmolive Company $CL

Cannell & Spears LLC decreased its position in shares of Colgate-Palmolive Company (NYSE:CL) by 2.3% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 318,090 shares of the company’s stock after selling 7,605 shares during the quarter. Cannell & Spears LLC’s holdings in Colgate-Palmolive were worth $25,428,000 as of its most recent SEC filing.

Several other large investors have also recently made changes to their positions in the company. Vanguard Group Inc. boosted its holdings in Colgate-Palmolive by 1.2% during the second quarter. Vanguard Group Inc. now owns 82,751,689 shares of the company’s stock worth $7,522,129,000 after buying an additional 993,432 shares in the last quarter. Norges Bank purchased a new position in Colgate-Palmolive in the second quarter valued at $960,390,000. Invesco Ltd. increased its holdings in Colgate-Palmolive by 13.1% in the third quarter. Invesco Ltd. now owns 8,467,993 shares of the company’s stock valued at $676,931,000 after buying an additional 978,943 shares in the last quarter. Diamond Hill Capital Management Inc. raised its position in shares of Colgate-Palmolive by 46.7% in the third quarter. Diamond Hill Capital Management Inc. now owns 8,077,549 shares of the company’s stock worth $645,719,000 after acquiring an additional 2,572,796 shares during the period. Finally, Ameriprise Financial Inc. boosted its stake in shares of Colgate-Palmolive by 5.1% during the 3rd quarter. Ameriprise Financial Inc. now owns 6,423,764 shares of the company’s stock worth $517,167,000 after acquiring an additional 314,584 shares in the last quarter. 80.41% of the stock is currently owned by institutional investors and hedge funds.

Colgate-Palmolive Trading Up 1.0%

CL stock opened at $88.85 on Friday. Colgate-Palmolive Company has a 12-month low of $74.54 and a 12-month high of $99.33. The business’s 50-day moving average is $90.11 and its 200 day moving average is $83.23. 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 stock has a market cap of $71.62 billion, a price-to-earnings ratio of 33.91, a PEG ratio of 3.98 and a beta of 0.28.

Colgate-Palmolive (NYSE:CL) last announced its earnings results on Friday, January 30th. The company reported $0.95 EPS for the quarter, beating analysts’ consensus estimates of $0.91 by $0.04. The business had revenue of $5.23 billion during the quarter, compared to analysts’ expectations of $5.13 billion. Colgate-Palmolive had a return on equity of 353.72% and a net margin of 10.45%.The business’s revenue was up 5.8% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.91 earnings per share. On average, sell-side analysts anticipate 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 paid a $0.53 dividend. The ex-dividend date of this dividend is Monday, April 20th. This represents a $2.12 annualized dividend and a yield of 2.4%. This is an increase from Colgate-Palmolive’s previous quarterly dividend of $0.52. Colgate-Palmolive’s dividend payout ratio is currently 79.39%.

Insider Transactions at Colgate-Palmolive

In other news, insider John Hazlin sold 20,989 shares of the stock in a transaction dated 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 in the company, valued at $1,663,041.25. This represents a 54.33% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, insider Sally Massey sold 15,851 shares of the firm’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 directly owned 13,751 shares in the company, valued at approximately $1,306,757.53. This represents a 53.55% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last quarter, insiders have sold 184,683 shares of company stock worth $17,486,693. Company insiders own 0.34% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts recently weighed in on the company. Barclays lifted their price target on Colgate-Palmolive from $83.00 to $88.00 and gave the company an “equal weight” rating in a research note on Tuesday, February 3rd. Citigroup increased their price target on Colgate-Palmolive from $95.00 to $105.00 and gave the stock a “buy” rating in a research report on Monday, February 2nd. Royal Bank Of Canada upgraded Colgate-Palmolive from a “sector perform” rating to an “outperform” rating and set a $88.00 price objective for the company in a research report on Tuesday, December 9th. Wells Fargo & Company upped their target price on Colgate-Palmolive from $86.00 to $94.00 and gave the stock an “equal weight” rating in a research note on Sunday, February 1st. Finally, Piper Sandler increased their target price on Colgate-Palmolive from $88.00 to $96.00 and gave the company an “overweight” rating in a research report on Friday, January 30th. Eleven equities research analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $94.75.

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.