J. Safra Sarasin Holding AG Trims Stake in Colgate-Palmolive Company $CL
by Michael Walen · The Markets DailyJ. Safra Sarasin Holding AG cut its position in Colgate-Palmolive Company (NYSE:CL – Free Report) by 8.7% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 675,344 shares of the company’s stock after selling 64,164 shares during the quarter. J. Safra Sarasin Holding AG owned approximately 0.08% of Colgate-Palmolive worth $53,366,000 at the end of the most recent quarter.
Other hedge funds have also recently added to or reduced their stakes in the company. Copia Wealth Management purchased a new stake in Colgate-Palmolive in the third quarter valued at approximately $29,000. Cloud Capital Management LLC acquired a new stake in shares of Colgate-Palmolive in the third quarter valued at approximately $30,000. Global Wealth Strategies & Associates grew its position in shares of Colgate-Palmolive by 300.0% during 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 last quarter. Grove Bank & Trust increased its holdings in shares of Colgate-Palmolive by 182.6% in the 4th quarter. Grove Bank & Trust now owns 407 shares of the company’s stock valued at $32,000 after acquiring an additional 263 shares during the period. Finally, Kelleher Financial Advisors acquired a new position in shares of Colgate-Palmolive in the 3rd quarter valued at $35,000. Hedge funds and other institutional investors own 80.41% of the company’s stock.
Wall Street Analyst Weigh In
A number of analysts recently weighed in on CL shares. 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. Royal Bank Of Canada upgraded shares of Colgate-Palmolive from a “sector perform” rating to an “outperform” rating and set a $88.00 price objective on the stock in a research note on Tuesday, December 9th. Barclays upped their target price 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. Wall Street Zen lowered Colgate-Palmolive from a “buy” rating to a “hold” rating in a report on Sunday. Finally, The Goldman Sachs Group restated a “buy” rating and issued a $100.00 price target on shares of Colgate-Palmolive in a research report on Friday, February 20th. 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, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $95.25.
Check Out Our Latest Research Report on Colgate-Palmolive
Insider Activity
In other Colgate-Palmolive news, insider John Hazlin sold 20,989 shares of the business’s stock in a transaction that occurred on Tuesday, February 10th. The stock was sold at an average price of $94.25, for a total transaction of $1,978,213.25. Following the transaction, the insider owned 17,645 shares in the company, valued at approximately $1,663,041.25. The trade was a 54.33% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, COO Panagiotis Tsourapas sold 15,000 shares of the stock in a transaction that occurred on Thursday, February 12th. The stock was sold at an average price of $97.81, for a total value of $1,467,150.00. Following the transaction, the chief operating officer directly owned 10,415 shares of the company’s stock, valued at approximately $1,018,691.15. This trade represents a 59.02% decrease in their ownership of the stock. 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 three months. 0.41% of the stock is currently owned by company insiders.
Colgate-Palmolive Stock Performance
NYSE:CL opened at $85.59 on Tuesday. The company has a debt-to-equity ratio of 18.82, a current ratio of 0.83 and a quick ratio of 0.54. The firm has a market cap of $68.67 billion, a price-to-earnings ratio of 32.67, a price-to-earnings-growth ratio of 3.78 and a beta of 0.28. The firm’s fifty day moving average price is $91.13 and its 200 day moving average price is $83.39. Colgate-Palmolive Company has a 1-year low of $74.54 and a 1-year high of $99.33.
Colgate-Palmolive (NYSE:CL – Get Free Report) last announced its quarterly earnings data on Friday, January 30th. The company reported $0.95 EPS for the quarter, topping analysts’ consensus estimates of $0.91 by $0.04. The company had revenue of $5.23 billion during the quarter, compared to the consensus estimate of $5.13 billion. Colgate-Palmolive had a net margin of 10.45% and a return on equity of 353.72%. Colgate-Palmolive’s quarterly revenue was up 5.8% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.91 EPS. On average, sell-side analysts expect that Colgate-Palmolive Company will post 3.75 EPS for the current year.
Colgate-Palmolive Increases Dividend
The company also recently disclosed a quarterly dividend, which will be paid on Friday, May 15th. Investors of record on Monday, April 20th will be given a $0.53 dividend. The ex-dividend date is Monday, April 20th. This is an increase from Colgate-Palmolive’s previous quarterly dividend of $0.52. This represents a $2.12 dividend on an annualized basis and a yield of 2.5%. 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.