NJ State Employees Deferred Compensation Plan Sells 5,400 Shares of Colgate-Palmolive (NYSE:CL)

NJ State Employees Deferred Compensation Plan decreased its holdings in Colgate-Palmolive (NYSE:CL) by 18.9% in the 4th quarter, HoldingsChannel reports. The firm owned 23,100 shares of the company’s stock after selling 5,400 shares during the quarter. NJ State Employees Deferred Compensation Plan’s holdings in Colgate-Palmolive were worth $1,841,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently bought and sold shares of CL. Vest Financial LLC grew its holdings in Colgate-Palmolive by 25.1% during the 4th quarter. Vest Financial LLC now owns 370,071 shares of the company’s stock worth $29,498,000 after acquiring an additional 74,337 shares during the last quarter. Central Bank & Trust Co. grew its stake in shares of Colgate-Palmolive by 22.1% during the fourth quarter. Central Bank & Trust Co. now owns 1,383 shares of the company’s stock valued at $110,000 after purchasing an additional 250 shares during the last quarter. Dynamic Advisor Solutions LLC grew its stake in shares of Colgate-Palmolive by 9.2% during the fourth quarter. Dynamic Advisor Solutions LLC now owns 10,808 shares of the company’s stock valued at $864,000 after purchasing an additional 910 shares during the last quarter. Sarasin & Partners LLP increased its holdings in shares of Colgate-Palmolive by 1.2% in the fourth quarter. Sarasin & Partners LLP now owns 4,053,634 shares of the company’s stock valued at $323,115,000 after purchasing an additional 49,980 shares in the last quarter. Finally, Cornerstone Wealth Management LLC lifted its holdings in Colgate-Palmolive by 2.5% during the 4th quarter. Cornerstone Wealth Management LLC now owns 7,170 shares of the company’s stock worth $571,000 after buying an additional 172 shares in the last quarter. Institutional investors and hedge funds own 80.41% of the company’s stock.

Colgate-Palmolive Stock Up 1.9 %

CL traded up $1.72 during trading on Friday, hitting $91.01. The company had a trading volume of 7,417,212 shares, compared to its average volume of 4,589,879. The firm’s 50-day moving average price is $87.51 and its 200 day moving average price is $81.30. The company has a market capitalization of $74.81 billion, a PE ratio of 32.59, a PEG ratio of 3.34 and a beta of 0.42. The company has a quick ratio of 0.71, a current ratio of 1.11 and a debt-to-equity ratio of 8.59. Colgate-Palmolive has a one year low of $67.62 and a one year high of $92.25.

Colgate-Palmolive (NYSE:CL) last posted its quarterly earnings data on Friday, April 26th. The company reported $0.86 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.82 by $0.04. Colgate-Palmolive had a return on equity of 509.75% and a net margin of 11.82%. The business had revenue of $5.07 billion during the quarter, compared to the consensus estimate of $4.96 billion. During the same period last year, the company earned $0.73 earnings per share. Colgate-Palmolive’s quarterly revenue was up 6.2% on a year-over-year basis. As a group, equities analysts expect that Colgate-Palmolive will post 3.5 earnings per share for the current year.

Colgate-Palmolive Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, May 15th. Investors of record on Monday, April 22nd will be given a $0.50 dividend. The ex-dividend date is Friday, April 19th. This represents a $2.00 dividend on an annualized basis and a yield of 2.20%. This is an increase from Colgate-Palmolive’s previous quarterly dividend of $0.48. Colgate-Palmolive’s dividend payout ratio (DPR) is 71.94%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on CL shares. Morgan Stanley boosted their target price on Colgate-Palmolive from $85.00 to $93.00 and gave the stock an “overweight” rating in a research report on Monday, January 29th. Stifel Nicolaus upped their target price on shares of Colgate-Palmolive from $89.00 to $94.00 and gave the company a “buy” rating in a research report on Wednesday, April 10th. Wells Fargo & Company lifted their price target on shares of Colgate-Palmolive from $80.00 to $88.00 and gave the stock an “equal weight” rating in a research report on Monday, January 29th. The Goldman Sachs Group started coverage on shares of Colgate-Palmolive in a report on Friday, March 1st. They issued a “buy” rating and a $93.00 price objective on the stock. Finally, Citigroup lifted their target price on shares of Colgate-Palmolive from $95.00 to $100.00 and gave the stock a “buy” rating in a report on Tuesday, April 16th. Three research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company. According to data from MarketBeat.com, Colgate-Palmolive has a consensus rating of “Moderate Buy” and an average target price of $89.50.

Insider Buying and Selling at Colgate-Palmolive

In other news, Director C Martin Harris sold 2,760 shares of the stock in a transaction dated Wednesday, January 31st. The shares were sold at an average price of $84.50, for a total transaction of $233,220.00. Following the completion of the transaction, the director now directly owns 19,272 shares in the company, valued at approximately $1,628,484. The transaction was disclosed in a document filed with the SEC, which is available at this link. In other Colgate-Palmolive news, Director C Martin Harris sold 2,760 shares of the company’s stock in a transaction on Wednesday, January 31st. The shares were sold at an average price of $84.50, for a total transaction of $233,220.00. Following the sale, the director now directly owns 19,272 shares of the company’s stock, valued at $1,628,484. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Gregory Malcolm sold 8,930 shares of the stock in a transaction on Thursday, February 1st. The shares were sold at an average price of $85.35, for a total transaction of $762,175.50. Following the completion of the sale, the executive vice president now owns 8,043 shares of the company’s stock, valued at approximately $686,470.05. The disclosure for this sale can be found here. In the last three months, insiders have sold 232,371 shares of company stock worth $19,505,099. Insiders own 0.34% of the company’s stock.

Colgate-Palmolive Profile

Colgate-Palmolive Company, together with its subsidiaries, manufactures and sells consumer products in the United States and internationally. It operates through two segments: Oral, Personal and Home Care; and Pet Nutrition. The Oral, Personal and Home Care segment offers toothpaste, toothbrushes, mouthwash, bar and liquid hand soaps, shower gels, shampoos, conditioners, deodorants and antiperspirants, skin health products, dishwashing detergents, fabric conditioners, household cleaners, and other related items.