Colgate-Palmolive Company $CL Shares Sold by Alpine Bank Wealth Management

Alpine Bank Wealth Management lessened its stake in shares of Colgate-Palmolive Company (NYSE:CL) by 18.8% during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 66,755 shares of the company’s stock after selling 15,421 shares during the period. Colgate-Palmolive accounts for approximately 0.7% of Alpine Bank Wealth Management’s portfolio, making the stock its 22nd biggest position. Alpine Bank Wealth Management’s holdings in Colgate-Palmolive were worth $5,275,000 at the end of the most recent reporting period.

Other hedge funds have also recently modified their holdings of the company. Copia Wealth Management acquired a new position in Colgate-Palmolive in the 3rd quarter valued at about $29,000. Cloud Capital Management LLC acquired a new position in Colgate-Palmolive in the third quarter valued at approximately $30,000. Global Wealth Strategies & Associates grew its position in Colgate-Palmolive by 300.0% in the fourth quarter. Global Wealth Strategies & Associates now owns 400 shares of the company’s stock worth $32,000 after acquiring an additional 300 shares during the period. Grove Bank & Trust increased its stake in Colgate-Palmolive by 182.6% during the fourth quarter. Grove Bank & Trust now owns 407 shares of the company’s stock worth $32,000 after acquiring an additional 263 shares during the last quarter. Finally, Kelleher Financial Advisors acquired a new stake in Colgate-Palmolive during the third quarter worth $35,000. Hedge funds and other institutional investors own 80.41% of the company’s stock.

Wall Street Analyst Weigh In

CL has been the subject of a number of research analyst reports. Jefferies Financial Group increased their price target on Colgate-Palmolive from $85.00 to $91.00 and gave the stock a “hold” rating in a report on Monday, February 2nd. Piper Sandler upped their target price on shares of Colgate-Palmolive from $88.00 to $96.00 and gave the company an “overweight” rating in a research report on Friday, January 30th. Barclays boosted their price target on shares of Colgate-Palmolive from $83.00 to $88.00 and gave the company an “equal weight” rating in a research note on Tuesday, February 3rd. Evercore boosted their target price on Colgate-Palmolive from $94.00 to $100.00 and gave the company an “outperform” rating in a research report on Monday, February 2nd. Finally, TD Cowen reiterated a “buy” rating on shares of Colgate-Palmolive in a report on Monday, February 2nd. Twelve equities research analysts have rated the stock with a Buy rating and five have given a Hold rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $95.25.

Insider Buying and Selling

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 shares were sold at an average price of $94.27, for a total transaction of $9,223,659.61. Following the sale, 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, COO Panagiotis Tsourapas sold 35,000 shares of the business’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 transaction of $3,311,350.00. Following the transaction, the chief operating officer owned 10,415 shares of the company’s stock, valued at $985,363.15. This trade represents a 77.07% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last ninety days, insiders sold 184,683 shares of company stock valued at $17,486,693. Corporate insiders own 0.41% of the company’s stock.

Colgate-Palmolive Stock Performance

Shares of CL stock opened at $85.59 on Tuesday. The firm has a 50 day moving average of $91.13 and a two-hundred day moving average of $83.39. The stock has a market capitalization of $68.67 billion, a PE ratio of 32.67, a P/E/G ratio of 3.78 and a beta of 0.28. 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.

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

Colgate-Palmolive Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, May 15th. Stockholders of record on Monday, April 20th will be given a dividend of $0.53 per share. This is a boost from Colgate-Palmolive’s previous quarterly dividend of $0.52. This represents a $2.12 dividend on an annualized basis and a dividend yield of 2.5%. The ex-dividend date of this dividend is Monday, April 20th. Colgate-Palmolive’s dividend payout ratio is presently 79.39%.

Colgate-Palmolive 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.