Davis R M Inc. Decreases Stock Holdings in Colgate-Palmolive Company $CL

Davis R M Inc. lowered its position in shares of Colgate-Palmolive Company (NYSE:CL) by 35.6% in the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 142,890 shares of the company’s stock after selling 79,119 shares during the period. Davis R M Inc.’s holdings in Colgate-Palmolive were worth $11,423,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently modified their holdings of the company. Westside Investment Management Inc. boosted its holdings in shares of Colgate-Palmolive by 85.5% during the second quarter. Westside Investment Management Inc. now owns 282 shares of the company’s stock worth $26,000 after purchasing an additional 130 shares during the period. Copia Wealth Management bought a new position in Colgate-Palmolive during the 3rd quarter valued at approximately $29,000. Vermillion & White Wealth Management Group LLC lifted its holdings in Colgate-Palmolive by 86.1% in the 2nd quarter. Vermillion & White Wealth Management Group LLC now owns 335 shares of the company’s stock worth $30,000 after buying an additional 155 shares during the period. Cloud Capital Management LLC bought a new stake in shares of Colgate-Palmolive in the 3rd quarter worth approximately $30,000. Finally, MTM Investment Management LLC purchased a new position in shares of Colgate-Palmolive during the second quarter valued at approximately $39,000. Hedge funds and other institutional investors own 80.41% of the company’s stock.

Insider Activity

In related news, CFO Stanley J. Sutula III sold 97,843 shares of the company’s stock in a transaction that occurred on Wednesday, February 4th. The stock was sold at an average price of $94.27, for a total value of $9,223,659.61. Following the transaction, the chief financial officer directly owned 55,310 shares of the company’s stock, valued at approximately $5,214,073.70. This represents a 63.89% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, insider John Hazlin sold 20,989 shares of the stock in a transaction on Tuesday, February 10th. The shares were 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 approximately $1,663,041.25. This represents a 54.33% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last three months, insiders have sold 184,683 shares of company stock worth $17,486,693. Corporate insiders own 0.41% of the company’s stock.

Analyst Upgrades and Downgrades

CL has been the topic of several recent analyst reports. Barclays lifted their price target on shares of Colgate-Palmolive from $83.00 to $88.00 and gave the company an “equal weight” rating in a report on Tuesday, February 3rd. UBS Group lifted their target price on shares of Colgate-Palmolive from $90.00 to $93.00 and gave the company a “buy” rating in a research note on Wednesday, January 14th. Piper Sandler increased their price target on shares of Colgate-Palmolive from $88.00 to $96.00 and gave the stock an “overweight” rating in a research note on Friday, January 30th. TD Cowen reaffirmed a “buy” rating on shares of Colgate-Palmolive in a research report on Monday, February 2nd. Finally, Evercore upped their target price on Colgate-Palmolive from $94.00 to $100.00 and gave the stock an “outperform” rating in a 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. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $94.75.

Colgate-Palmolive Stock Up 1.5%

CL stock opened at $99.01 on Monday. The business has a 50 day moving average of $87.49 and a 200 day moving average of $82.69. The firm has a market cap of $79.81 billion, a PE ratio of 37.79, a price-to-earnings-growth ratio of 4.47 and a beta of 0.28. Colgate-Palmolive Company has a twelve month low of $74.54 and a twelve month high of $100.18. 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 (NYSE:CL) last released its earnings results on Friday, January 30th. The company reported $0.95 EPS for the quarter, topping 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%.The company’s quarterly revenue was up 5.8% on a year-over-year basis. During the same period in the prior year, the firm posted $0.91 earnings per share. On average, research analysts forecast that Colgate-Palmolive Company will post 3.75 EPS for the current fiscal year.

Colgate-Palmolive Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, February 13th. Shareholders of record on Wednesday, January 21st were issued a $0.52 dividend. The ex-dividend date of this dividend was Wednesday, January 21st. This represents a $2.08 annualized dividend and a yield of 2.1%. Colgate-Palmolive’s payout ratio is 79.39%.

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.