Kestra Private Wealth Services LLC Sells 9,294 Shares of Colgate-Palmolive Company $CL

Kestra Private Wealth Services LLC lessened its stake in Colgate-Palmolive Company (NYSE:CL) by 19.1% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 39,241 shares of the company’s stock after selling 9,294 shares during the period. Kestra Private Wealth Services LLC’s holdings in Colgate-Palmolive were worth $3,101,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in the stock. Maseco LLP acquired a new position in shares of Colgate-Palmolive in the 4th quarter worth approximately $27,000. Copia Wealth Management bought a new position in Colgate-Palmolive during the third quarter worth $29,000. Cloud Capital Management LLC acquired a new position in Colgate-Palmolive in the third quarter valued at $30,000. Global Wealth Strategies & Associates lifted its holdings in Colgate-Palmolive by 300.0% in the fourth quarter. Global Wealth Strategies & Associates now owns 400 shares of the company’s stock valued at $32,000 after buying an additional 300 shares during the period. Finally, Grove Bank & Trust boosted its position in Colgate-Palmolive by 182.6% during the fourth quarter. Grove Bank & Trust now owns 407 shares of the company’s stock valued at $32,000 after acquiring an additional 263 shares during the last quarter. Institutional investors and hedge funds own 80.41% of the company’s stock.

Analysts Set New Price Targets

CL has been the subject of several research analyst reports. Piper Sandler lowered their price objective on Colgate-Palmolive from $96.00 to $92.00 and set an “overweight” rating for the company in a research report on Wednesday, April 8th. Morgan Stanley cut their target price on Colgate-Palmolive from $100.00 to $95.00 and set an “overweight” rating on the stock in a research report on Thursday, April 23rd. TD Cowen reiterated a “hold” rating and issued a $85.00 target price on shares of Colgate-Palmolive in a report on Tuesday, March 31st. Wells Fargo & Company dropped their price target on Colgate-Palmolive from $100.00 to $92.00 and set an “equal weight” rating on the stock in a research note on Wednesday, April 8th. Finally, Weiss Ratings reaffirmed a “hold (c)” rating on shares of Colgate-Palmolive in a research report on Wednesday, January 21st. Twelve analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company’s stock. According to data from MarketBeat, Colgate-Palmolive has an average rating of “Moderate Buy” and an average target price of $95.56.

Colgate-Palmolive Price Performance

CL stock opened at $84.50 on Thursday. Colgate-Palmolive Company has a 1 year low of $74.54 and a 1 year high of $99.33. The stock has a market capitalization of $67.80 billion, a PE ratio of 32.25, a price-to-earnings-growth ratio of 4.31 and a beta of 0.34. The company’s 50-day moving average is $88.12 and its 200-day moving average is $84.05. The company has a debt-to-equity ratio of 18.82, a current ratio of 0.83 and a quick ratio of 0.54.

Colgate-Palmolive (NYSE:CL) last posted its quarterly earnings results on Friday, January 30th. The company reported $0.95 earnings per share for the quarter, topping analysts’ consensus estimates of $0.91 by $0.04. The business had revenue of $5.23 billion for the quarter, compared to the consensus estimate of $5.13 billion. Colgate-Palmolive had a return on equity of 353.72% and a net margin of 10.45%.The firm’s revenue for the quarter was up 5.8% on a year-over-year basis. During the same period in the prior year, the business earned $0.91 EPS. Equities research analysts expect that Colgate-Palmolive Company will post 3.85 EPS for the current fiscal year.

Colgate-Palmolive Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, May 15th. Stockholders of record on Monday, April 20th will be given 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 dividend on an annualized basis and a dividend yield of 2.5%. Colgate-Palmolive’s payout ratio is currently 80.92%.

Insider Buying and Selling at Colgate-Palmolive

In related news, insider Sally Massey sold 15,851 shares of Colgate-Palmolive stock in a transaction on Thursday, February 5th. The shares were sold at an average price of $95.03, for a total value of $1,506,320.53. Following the completion of the sale, the insider owned 13,751 shares of the company’s stock, valued at approximately $1,306,757.53. This trade represents a 53.55% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, COO Panagiotis Tsourapas sold 15,000 shares of the business’s stock in a transaction on Thursday, February 12th. The shares were sold at an average price of $97.81, for a total transaction of $1,467,150.00. Following the sale, the chief operating officer owned 10,415 shares of the company’s stock, valued at $1,018,691.15. This trade represents a 59.02% decrease in their position. The SEC filing for this sale provides additional information. In the last quarter, insiders sold 184,683 shares of company stock worth $17,486,693. 0.43% of the stock is owned by company insiders.

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.