Hartford Investment Management Co. Sells 976 Shares of Colgate-Palmolive (NYSE:CL)

Hartford Investment Management Co. reduced its position in shares of Colgate-Palmolive (NYSE:CL) by 1.9% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 50,482 shares of the company’s stock after selling 976 shares during the period. Hartford Investment Management Co.’s holdings in Colgate-Palmolive were worth $4,589,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of CL. Union Bancaire Privee UBP SA bought a new position in Colgate-Palmolive in the 4th quarter worth approximately $32,000. Hager Investment Management Services LLC acquired a new stake in shares of Colgate-Palmolive in the fourth quarter worth $36,000. Reston Wealth Management LLC bought a new position in Colgate-Palmolive during the third quarter worth $42,000. Synergy Asset Management LLC acquired a new position in Colgate-Palmolive during the 4th quarter valued at $49,000. Finally, Capital Performance Advisors LLP bought a new stake in Colgate-Palmolive in the 3rd quarter valued at $53,000. 80.41% of the stock is currently owned by institutional investors and hedge funds.

Colgate-Palmolive Stock Performance

NYSE CL opened at $86.75 on Thursday. The firm has a market cap of $70.88 billion, a price-to-earnings ratio of 24.64, a PEG ratio of 4.12 and a beta of 0.44. The company has a current ratio of 0.41, a quick ratio of 0.26 and a debt-to-equity ratio of 9.46. Colgate-Palmolive has a 1-year low of $82.76 and a 1-year high of $109.30. The company has a 50 day moving average of $90.00 and a 200-day moving average of $96.61.

Colgate-Palmolive (NYSE:CL) last released its quarterly earnings results on Friday, January 31st. The company reported $0.91 earnings per share for the quarter, beating analysts’ consensus estimates of $0.90 by $0.01. Colgate-Palmolive had a return on equity of 477.77% and a net margin of 14.38%. During the same quarter in the previous year, the business posted $0.87 earnings per share. On average, equities analysts forecast that Colgate-Palmolive will post 3.73 earnings per share for the current fiscal year.

Colgate-Palmolive Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, February 14th. Investors of record on Tuesday, January 21st will be given a dividend of $0.50 per share. The ex-dividend date is Tuesday, January 21st. This represents a $2.00 annualized dividend and a yield of 2.31%. Colgate-Palmolive’s dividend payout ratio (DPR) is 56.82%.

Analyst Upgrades and Downgrades

CL has been the topic of several research reports. TD Cowen dropped their price objective on shares of Colgate-Palmolive from $110.00 to $100.00 and set a “buy” rating on the stock in a report on Wednesday, January 8th. Royal Bank of Canada restated a “sector perform” rating and set a $101.00 price target on shares of Colgate-Palmolive in a research note on Wednesday, January 29th. Morgan Stanley reduced their price objective on Colgate-Palmolive from $111.00 to $104.00 and set an “overweight” rating for the company in a research report on Monday, February 3rd. UBS Group lowered their price objective on Colgate-Palmolive from $104.00 to $100.00 and set a “buy” rating on the stock in a research report on Monday, February 3rd. Finally, Wells Fargo & Company reduced their target price on Colgate-Palmolive from $92.00 to $83.00 and set an “underweight” rating for the company in a research report on Tuesday, January 7th. One investment analyst has rated the stock with a sell rating, ten have assigned a hold rating and twelve have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $101.16.

Colgate-Palmolive Company Profile

Colgate-Palmolive Company, together with its subsidiaries, manufactures and sells consumer products in the United States and internationally. It operates through two segments: Oral, Personal and Home Care; and Pet Nutrition. The Oral, Personal and Home Care segment offers toothpaste, toothbrushes, mouthwash, bar and liquid hand soaps, shower gels, shampoos, conditioners, deodorants and antiperspirants, skin health products, dishwashing detergents, fabric conditioners, household cleaners, and other related items.