Cim Investment Management Inc. Lowers Stock Position in Colgate-Palmolive Company $CL

Cim Investment Management Inc. lessened its position in shares of Colgate-Palmolive Company (NYSE:CL) by 50.6% during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The firm owned 7,867 shares of the company’s stock after selling 8,060 shares during the quarter. Cim Investment Management Inc.’s holdings in Colgate-Palmolive were worth $629,000 at the end of the most recent reporting period.

A number of other large investors have also modified their holdings of CL. ProShare Advisors LLC boosted 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 last quarter. Providence Capital Advisors LLC acquired a new position in shares of Colgate-Palmolive during the third quarter valued at approximately $5,373,000. Asset Management One Co. Ltd. lifted its position in shares of Colgate-Palmolive by 3.9% in the third quarter. Asset Management One Co. Ltd. now owns 422,292 shares of the company’s stock valued at $33,758,000 after acquiring an additional 16,017 shares in the last quarter. Citigroup Inc. lifted its position in shares of Colgate-Palmolive by 43.7% in the third quarter. Citigroup Inc. now owns 1,346,590 shares of the company’s stock valued at $107,646,000 after acquiring an additional 409,710 shares in the last quarter. Finally, Vanguard Group Inc. boosted its stake in shares of Colgate-Palmolive by 1.2% in the second quarter. Vanguard Group Inc. now owns 82,751,689 shares of the company’s stock worth $7,522,129,000 after acquiring an additional 993,432 shares during the last quarter. Institutional investors and hedge funds own 80.41% of the company’s stock.

Colgate-Palmolive Stock Down 0.4%

Shares of NYSE:CL opened at $89.90 on Wednesday. Colgate-Palmolive Company has a 52-week low of $74.54 and a 52-week high of $99.33. The stock has a market cap of $72.47 billion, a P/E ratio of 34.31, a PEG ratio of 4.04 and a beta of 0.28. The business has a fifty day moving average of $90.64 and a two-hundred day moving average of $83.31. 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 announced its quarterly earnings results on Friday, January 30th. The company reported $0.95 earnings per share for the quarter, beating 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 firm had revenue of $5.23 billion for the quarter, compared to analysts’ expectations of $5.13 billion. During the same quarter in the previous year, the company posted $0.91 EPS. The company’s 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 earnings per share for the current year.

Colgate-Palmolive Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, May 15th. Stockholders of record on Monday, April 20th will be paid a $0.53 dividend. This is a positive change from Colgate-Palmolive’s previous quarterly dividend of $0.52. 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%. Colgate-Palmolive’s dividend payout ratio is currently 79.39%.

Analyst Ratings Changes

Several research analysts recently commented on the company. Argus reissued a “hold” rating on shares of Colgate-Palmolive in a research note on Thursday, December 11th. Barclays lifted their target price on shares of Colgate-Palmolive from $83.00 to $88.00 and gave the stock an “equal weight” rating in a research note on Tuesday, February 3rd. JPMorgan Chase & Co. raised their price target on shares of Colgate-Palmolive from $93.00 to $97.00 and gave the stock an “overweight” rating in a research note on Monday, February 2nd. TD Cowen restated a “buy” rating on shares of Colgate-Palmolive in a research report on Monday, February 2nd. Finally, Deutsche Bank Aktiengesellschaft upped their price objective on shares of Colgate-Palmolive from $83.00 to $90.00 and gave the company a “hold” rating in a research note on Monday, February 2nd. Eleven investment analysts have rated the stock with a Buy rating and six have issued a Hold rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $94.75.

Insider Activity

In related news, CFO Stanley J. Sutula III sold 97,843 shares of the 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 completion of the transaction, the chief financial officer directly owned 55,310 shares in the company, valued at approximately $5,214,073.70. This represents a 63.89% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Sally Massey sold 15,851 shares of the firm’s stock in a transaction on Thursday, February 5th. The stock was sold at an average price of $95.03, for a total value of $1,506,320.53. Following the sale, the insider directly 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 SEC filing for this sale provides additional information. Insiders have sold 184,683 shares of company stock worth $17,486,693 over the last quarter. 0.41% of the stock is currently owned by corporate insiders.

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.