PineStone Asset Management Inc. Cuts Position in Colgate-Palmolive Company $CL

PineStone Asset Management Inc. decreased its stake in Colgate-Palmolive Company (NYSE:CL) by 0.9% in the 4th quarter, Holdings Channel reports. The firm owned 1,590,289 shares of the company’s stock after selling 13,800 shares during the quarter. Colgate-Palmolive accounts for approximately 0.8% of PineStone Asset Management Inc.’s portfolio, making the stock its 26th biggest position. PineStone Asset Management Inc.’s holdings in Colgate-Palmolive were worth $125,665,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors have also recently added to or reduced their stakes in the company. Copia Wealth Management acquired a new position in Colgate-Palmolive during the third quarter worth about $29,000. Cloud Capital Management LLC acquired a new stake in shares of Colgate-Palmolive during the 3rd quarter valued at approximately $30,000. Global Wealth Strategies & Associates boosted its stake in shares of Colgate-Palmolive by 300.0% during the 4th quarter. Global Wealth Strategies & Associates now owns 400 shares of the company’s stock worth $32,000 after acquiring an additional 300 shares in the last quarter. Grove Bank & Trust grew its holdings in shares of 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 acquiring an additional 263 shares during the period. Finally, Kelleher Financial Advisors acquired a new stake in shares of Colgate-Palmolive in the 3rd quarter worth approximately $35,000. Hedge funds and other institutional investors own 80.41% of the company’s stock.

Insider Buying and Selling

In related news, CFO Stanley J. Sutula III sold 97,843 shares of Colgate-Palmolive stock in a transaction dated Wednesday, February 4th. The stock was sold at an average price of $94.27, for a total transaction of $9,223,659.61. Following the completion of the sale, the chief financial officer owned 55,310 shares in the company, valued at approximately $5,214,073.70. This trade represents a 63.89% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider John Hazlin sold 20,989 shares of the business’s stock in a transaction dated 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 $1,663,041.25. The trade was a 54.33% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 184,683 shares of company stock worth $17,486,693 in the last ninety days. 0.41% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on CL shares. Wall Street Zen cut Colgate-Palmolive from a “buy” rating to a “hold” rating in a report on Sunday. Jefferies Financial Group upped their target price on Colgate-Palmolive from $85.00 to $91.00 and gave the company a “hold” rating in a report on Monday, February 2nd. UBS Group raised their price target on Colgate-Palmolive from $90.00 to $93.00 and gave the company a “buy” rating in a research report on Wednesday, January 14th. Wells Fargo & Company lifted their price target 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, Morgan Stanley boosted their price objective on shares of Colgate-Palmolive from $87.00 to $100.00 and gave the stock an “overweight” rating in a research report on Monday, February 2nd. Eleven equities research analysts have rated the stock with a Buy rating and six have given a Hold rating to the company. Based on data from MarketBeat.com, Colgate-Palmolive currently has an average rating of “Moderate Buy” and a consensus target price of $95.19.

Colgate-Palmolive Trading Down 0.5%

Shares of Colgate-Palmolive stock opened at $85.31 on Wednesday. Colgate-Palmolive Company has a 1 year low of $74.54 and a 1 year high of $99.33. The company has a debt-to-equity ratio of 18.82, a current ratio of 0.83 and a quick ratio of 0.54. The business has a 50 day moving average price of $91.13 and a 200 day moving average price of $83.40. The company has a market capitalization of $68.44 billion, a P/E ratio of 32.56, a P/E/G ratio of 3.84 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 firm had revenue of $5.23 billion for 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%.Colgate-Palmolive’s quarterly revenue was up 5.8% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.91 EPS. Sell-side analysts anticipate that Colgate-Palmolive Company will post 3.75 EPS for the current fiscal year.

Colgate-Palmolive Increases Dividend

The business 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 dividend of $0.53 per share. The ex-dividend date of this dividend is Monday, April 20th. This is an increase from Colgate-Palmolive’s previous quarterly dividend of $0.52. This represents a $2.12 dividend on an annualized basis and a dividend yield of 2.5%. Colgate-Palmolive’s dividend payout ratio is 80.92%.

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.