Crossmark Global Holdings Inc. Sells 37,096 Shares of Colgate-Palmolive Company $CL

Crossmark Global Holdings Inc. lessened its stake in Colgate-Palmolive Company (NYSE:CL) by 19.5% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 153,568 shares of the company’s stock after selling 37,096 shares during the period. Crossmark Global Holdings Inc.’s holdings in Colgate-Palmolive were worth $12,135,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently modified their holdings of CL. ProShare Advisors LLC lifted its holdings in Colgate-Palmolive by 11.0% in the 3rd quarter. ProShare Advisors LLC now owns 2,047,542 shares of the company’s stock worth $163,681,000 after buying an additional 202,379 shares during the period. Providence Capital Advisors LLC purchased a new stake in Colgate-Palmolive in the 3rd quarter worth approximately $5,373,000. Citigroup Inc. lifted its holdings in Colgate-Palmolive by 43.7% in the 3rd quarter. Citigroup Inc. now owns 1,346,590 shares of the company’s stock worth $107,646,000 after buying an additional 409,710 shares during the period. Envestnet Asset Management Inc. lifted its holdings in Colgate-Palmolive by 18.0% in the 3rd quarter. Envestnet Asset Management Inc. now owns 800,554 shares of the company’s stock worth $63,996,000 after buying an additional 122,202 shares during the period. Finally, TD Waterhouse Canada Inc. lifted its holdings in Colgate-Palmolive by 248.5% in the 3rd quarter. TD Waterhouse Canada Inc. now owns 87,410 shares of the company’s stock worth $6,909,000 after buying an additional 62,327 shares during the period. Institutional investors own 80.41% of the company’s stock.

Colgate-Palmolive Stock Up 0.2%

Shares of NYSE:CL opened at $87.53 on Friday. Colgate-Palmolive Company has a 52-week low of $74.54 and a 52-week high of $99.33. The firm has a market capitalization of $70.22 billion, a P/E ratio of 34.06, a P/E/G ratio of 4.54 and a beta of 0.31. The stock has a 50 day moving average price of $87.38 and a 200-day moving average price of $84.34. The company has a debt-to-equity ratio of 16.33, a quick ratio of 0.29 and a current ratio of 1.02.

Colgate-Palmolive (NYSE:CL) last announced its earnings results on Friday, May 1st. The company reported $0.97 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.94 by $0.03. Colgate-Palmolive had a return on equity of 386.76% and a net margin of 10.04%.The firm had revenue of $5.32 billion during the quarter, compared to analyst estimates of $5.22 billion. During the same quarter in the prior year, the company earned $0.91 EPS. The business’s revenue was up 8.4% compared to the same quarter last year. As a group, equities research analysts anticipate that Colgate-Palmolive Company will post 3.83 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 $0.53 dividend. The ex-dividend date of this dividend is Monday, April 20th. This represents a $2.12 annualized dividend and a dividend 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 82.49%.

Wall Street Analysts Forecast Growth

Several equities research analysts have weighed in on the company. Rothschild & Co Redburn set a $100.00 price objective on Colgate-Palmolive and gave the stock a “buy” rating in a report on Tuesday, April 21st. Barclays increased their price objective on Colgate-Palmolive from $79.00 to $80.00 and gave the stock an “equal weight” rating in a report on Tuesday, May 5th. Jefferies Financial Group increased their price objective on Colgate-Palmolive from $85.00 to $91.00 and gave the stock a “hold” rating in a report on Monday, February 2nd. Weiss Ratings raised Colgate-Palmolive from a “hold (c)” rating to a “hold (c+)” rating in a research report on Monday, May 4th. Finally, Deutsche Bank Aktiengesellschaft reissued a “buy” rating and issued a $99.00 target price on shares of Colgate-Palmolive in a research report on Monday, May 4th. Twelve analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $95.88.

Insider Activity at Colgate-Palmolive

In related news, insider John Hazlin sold 20,989 shares of the company’s stock in a transaction that occurred on Tuesday, February 10th. The stock was sold at an average price of $94.25, for a total value of $1,978,213.25. Following the sale, the insider owned 17,645 shares in the company, valued at $1,663,041.25. This represents a 54.33% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, COO Panagiotis Tsourapas sold 35,000 shares of the company’s stock in a transaction that occurred on Wednesday, February 11th. The stock was sold at an average price of $94.61, for a total value of $3,311,350.00. Following the completion of the sale, the chief operating officer owned 10,415 shares in the company, valued at $985,363.15. The trade was a 77.07% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 70,989 shares of company stock valued at $6,756,713 in the last three months. Corporate insiders own 0.43% of the company’s stock.

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.