Exchange Traded Concepts LLC Lowers Holdings in Colgate-Palmolive Company $CL

Exchange Traded Concepts LLC decreased its holdings in shares of Colgate-Palmolive Company (NYSE:CL) by 65.2% in the 4th quarter, Holdings Channel.com reports. The fund owned 139,134 shares of the company’s stock after selling 261,003 shares during the quarter. Exchange Traded Concepts LLC’s holdings in Colgate-Palmolive were worth $10,994,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the business. ProShare Advisors LLC raised its stake in shares of Colgate-Palmolive by 11.0% in the 3rd quarter. ProShare Advisors LLC now owns 2,047,542 shares of the company’s stock valued at $163,681,000 after acquiring an additional 202,379 shares during the period. Providence Capital Advisors LLC acquired a new position in shares of Colgate-Palmolive in the 3rd quarter worth approximately $5,373,000. Asset Management One Co. Ltd. boosted its position in shares of Colgate-Palmolive by 3.9% during the 3rd quarter. Asset Management One Co. Ltd. now owns 422,292 shares of the company’s stock worth $33,758,000 after purchasing an additional 16,017 shares during the period. Citigroup Inc. increased 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 valued at $107,646,000 after purchasing an additional 409,710 shares during the last quarter. Finally, TD Waterhouse Canada Inc. increased 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 valued at $6,909,000 after purchasing an additional 62,327 shares during the last quarter. Hedge funds and other institutional investors own 80.41% of the company’s stock.

Insider Buying and Selling

In other Colgate-Palmolive news, insider Sally Massey sold 15,851 shares of the company’s stock in a transaction dated Thursday, February 5th. The stock was sold at an average price of $95.03, for a total transaction of $1,506,320.53. Following the sale, the insider owned 13,751 shares in the company, valued at $1,306,757.53. This represents a 53.55% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CFO Stanley J. Sutula III sold 97,843 shares of the stock in a transaction dated Wednesday, February 4th. The shares were sold at an average price of $94.27, for a total value of $9,223,659.61. Following the completion of the sale, the chief financial officer directly owned 55,310 shares in the company, valued at $5,214,073.70. This represents a 63.89% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold 184,683 shares of company stock worth $17,486,693 in the last quarter. Company insiders own 0.41% of the company’s stock.

Colgate-Palmolive Price Performance

Colgate-Palmolive stock opened at $84.25 on Monday. The company has a quick ratio of 0.54, a current ratio of 0.83 and a debt-to-equity ratio of 18.82. Colgate-Palmolive Company has a 52-week low of $74.54 and a 52-week high of $99.33. The firm has a market cap of $67.59 billion, a PE ratio of 32.16, a price-to-earnings-growth ratio of 3.78 and a beta of 0.28. The company’s 50 day moving average is $91.11 and its two-hundred day moving average is $83.37.

Colgate-Palmolive (NYSE:CL) last posted its quarterly earnings results on Friday, January 30th. The company reported $0.95 EPS for the quarter, topping the consensus estimate of $0.91 by $0.04. Colgate-Palmolive had a net margin of 10.45% and a return on equity of 353.72%. The business had revenue of $5.23 billion during the quarter, compared to the consensus estimate of $5.13 billion. During the same quarter in the previous year, the firm posted $0.91 earnings per share. The company’s quarterly revenue was up 5.8% compared to the same quarter last year. On average, research analysts expect that Colgate-Palmolive Company will post 3.75 EPS for the current fiscal year.

Colgate-Palmolive Increases Dividend

The business also recently announced 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. This represents a $2.12 annualized dividend and a yield of 2.5%. 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. Colgate-Palmolive’s payout ratio is presently 79.39%.

Wall Street Analyst Weigh In

CL has been the topic of a number of research reports. UBS Group upped their price target on Colgate-Palmolive from $90.00 to $93.00 and gave the stock a “buy” rating in a research note on Wednesday, January 14th. TD Cowen reaffirmed a “buy” rating on shares of Colgate-Palmolive in a research note on Monday, February 2nd. Jefferies Financial Group boosted their price objective on Colgate-Palmolive from $85.00 to $91.00 and gave the company a “hold” rating in a report on Monday, February 2nd. Bank of America increased their target price on Colgate-Palmolive from $90.00 to $100.00 and gave the stock a “buy” rating in a research note on Monday, February 2nd. Finally, Deutsche Bank Aktiengesellschaft raised their target price on Colgate-Palmolive from $83.00 to $90.00 and gave the company a “hold” rating in a report on Monday, February 2nd. Eleven research analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $94.75.

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.