MV Capital Management Inc. Reduces Position in Colgate-Palmolive (NYSE:CL)

MV Capital Management Inc. decreased its position in Colgate-Palmolive (NYSE:CL) by 49.6% during the 1st quarter, according to its most recent disclosure with the SEC. The fund owned 497 shares of the company’s stock after selling 490 shares during the period. MV Capital Management Inc.’s holdings in Colgate-Palmolive were worth $45,000 as of its most recent SEC filing.

Several other hedge funds also recently made changes to their positions in CL. Norges Bank purchased a new stake in Colgate-Palmolive in the fourth quarter worth $731,843,000. Price T Rowe Associates Inc. MD boosted its stake in shares of Colgate-Palmolive by 16.8% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 32,133,218 shares of the company’s stock valued at $2,561,340,000 after purchasing an additional 4,625,472 shares in the last quarter. Magellan Asset Management Ltd increased its position in shares of Colgate-Palmolive by 4,162.6% during the fourth quarter. Magellan Asset Management Ltd now owns 2,016,290 shares of the company’s stock valued at $160,718,000 after buying an additional 1,968,988 shares during the period. Confluence Investment Management LLC purchased a new position in shares of Colgate-Palmolive during the first quarter valued at about $130,622,000. Finally, Allspring Global Investments Holdings LLC raised its stake in Colgate-Palmolive by 461.5% in the first quarter. Allspring Global Investments Holdings LLC now owns 1,036,215 shares of the company’s stock worth $93,311,000 after buying an additional 851,671 shares in the last quarter. 80.41% of the stock is owned by hedge funds and other institutional investors.

Colgate-Palmolive Stock Up 0.6 %

CL stock opened at $96.12 on Wednesday. The stock has a market capitalization of $78.86 billion, a P/E ratio of 30.42, a P/E/G ratio of 3.57 and a beta of 0.39. The company has a debt-to-equity ratio of 13.21, a current ratio of 1.06 and a quick ratio of 0.70. Colgate-Palmolive has a 1-year low of $67.62 and a 1-year high of $99.08. The business has a fifty day moving average price of $94.02 and a 200-day moving average price of $87.76.

Colgate-Palmolive (NYSE:CL) last issued its earnings results on Friday, April 26th. The company reported $0.86 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.82 by $0.04. The company had revenue of $5.07 billion for the quarter, compared to analysts’ expectations of $4.96 billion. Colgate-Palmolive had a net margin of 13.22% and a return on equity of 485.40%. The firm’s quarterly revenue was up 6.2% on a year-over-year basis. During the same quarter last year, the company posted $0.73 earnings per share. Equities analysts forecast that Colgate-Palmolive will post 3.53 earnings per share for the current fiscal year.

Colgate-Palmolive Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, August 15th. Shareholders of record on Friday, July 19th will be issued a dividend of $0.50 per share. The ex-dividend date of this dividend is Friday, July 19th. This represents a $2.00 dividend on an annualized basis and a yield of 2.08%. Colgate-Palmolive’s dividend payout ratio is currently 63.29%.

Insider Transactions at Colgate-Palmolive

In related news, insider Sally Massey sold 12,226 shares of the business’s stock in a transaction that occurred on Thursday, May 9th. The stock was sold at an average price of $94.06, for a total transaction of $1,149,977.56. Following the completion of the transaction, the insider now directly owns 13,924 shares in the company, valued at approximately $1,309,691.44. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. In related news, insider Sally Massey sold 12,226 shares of the company’s stock in a transaction on Thursday, May 9th. The shares were sold at an average price of $94.06, for a total value of $1,149,977.56. Following the completion of the transaction, the insider now owns 13,924 shares of the company’s stock, valued at approximately $1,309,691.44. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, insider John W. Kooyman sold 3,497 shares of the firm’s stock in a transaction dated Tuesday, May 7th. The shares were sold at an average price of $93.47, for a total value of $326,864.59. Following the sale, the insider now directly owns 3,181 shares in the company, valued at $297,328.07. The disclosure for this sale can be found here. 0.37% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

CL has been the topic of a number of research analyst reports. Citigroup upped their target price on Colgate-Palmolive from $95.00 to $100.00 and gave the stock a “buy” rating in a report on Tuesday, April 16th. Wells Fargo & Company increased their price objective on Colgate-Palmolive from $90.00 to $92.00 and gave the stock an “equal weight” rating in a report on Monday, April 29th. Evercore ISI boosted their target price on shares of Colgate-Palmolive from $90.00 to $96.00 and gave the company an “outperform” rating in a report on Monday, April 8th. BNP Paribas began coverage on shares of Colgate-Palmolive in a research note on Monday, June 24th. They issued an “outperform” rating and a $109.00 price target for the company. Finally, Bank of America boosted their price objective on shares of Colgate-Palmolive from $90.00 to $100.00 and gave the stock a “buy” rating in a research note on Monday, April 29th. Three equities research analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the company’s stock. According to MarketBeat, Colgate-Palmolive currently has a consensus rating of “Moderate Buy” and a consensus target price of $93.83.

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.