Zurcher Kantonalbank Zurich Cantonalbank Sells 106,542 Shares of Colgate-Palmolive (NYSE:CL)

Zurcher Kantonalbank Zurich Cantonalbank cut its position in shares of Colgate-Palmolive (NYSE:CL) by 42.0% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 147,207 shares of the company’s stock after selling 106,542 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in Colgate-Palmolive were worth $11,734,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also bought and sold shares of CL. Everence Capital Management Inc. increased its holdings in shares of Colgate-Palmolive by 32.6% in the 4th quarter. Everence Capital Management Inc. now owns 19,597 shares of the company’s stock valued at $1,562,000 after acquiring an additional 4,820 shares during the period. Wealth Alliance purchased a new position in shares of Colgate-Palmolive in the 4th quarter valued at $313,000. DGS Capital Management LLC purchased a new position in shares of Colgate-Palmolive in the 4th quarter valued at $209,000. United Asset Strategies Inc. increased its holdings in shares of Colgate-Palmolive by 7.0% in the 4th quarter. United Asset Strategies Inc. now owns 12,047 shares of the company’s stock valued at $960,000 after acquiring an additional 785 shares during the period. Finally, Hamilton Point Investment Advisors LLC increased its holdings in shares of Colgate-Palmolive by 1.1% in the 4th quarter. Hamilton Point Investment Advisors LLC now owns 51,959 shares of the company’s stock valued at $4,141,000 after acquiring an additional 575 shares during the period. 80.41% of the stock is owned by institutional investors.

Colgate-Palmolive Stock Performance

Shares of CL stock opened at $87.13 on Friday. The stock has a market cap of $71.62 billion, a PE ratio of 31.34, a price-to-earnings-growth ratio of 3.26 and a beta of 0.42. The business has a 50-day simple moving average of $87.10 and a 200-day simple moving average of $80.78. 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 52-week low of $67.62 and a 52-week high of $90.37.

Colgate-Palmolive (NYSE:CL) last released its quarterly earnings results on Friday, January 26th. The company reported $0.87 earnings per share for the quarter, topping analysts’ consensus estimates of $0.85 by $0.02. The company had revenue of $4.95 billion during the quarter, compared to analysts’ expectations of $4.89 billion. Colgate-Palmolive had a return on equity of 509.75% and a net margin of 11.82%. Colgate-Palmolive’s quarterly revenue was up 6.9% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.77 EPS. On average, equities analysts expect that Colgate-Palmolive will post 3.49 EPS for the current year.

Colgate-Palmolive Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, May 15th. Investors of record on Monday, April 22nd will be issued a $0.50 dividend. This is a boost from Colgate-Palmolive’s previous quarterly dividend of $0.48. The ex-dividend date of this dividend is Friday, April 19th. This represents a $2.00 dividend on an annualized basis and a yield of 2.30%. Colgate-Palmolive’s dividend payout ratio is presently 69.06%.

Wall Street Analyst Weigh In

A number of research analysts have recently issued reports on the company. Citigroup lifted their price target on Colgate-Palmolive from $95.00 to $100.00 and gave the company a “buy” rating in a report on Tuesday. UBS Group lifted their price target on Colgate-Palmolive from $93.00 to $95.00 and gave the company a “buy” rating in a report on Monday, January 29th. Raymond James upgraded Colgate-Palmolive from a “market perform” rating to an “outperform” rating and set a $91.00 target price on the stock in a research note on Monday, January 29th. 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 note on Monday, January 29th. Finally, Stifel Nicolaus boosted their target price on Colgate-Palmolive from $89.00 to $94.00 and gave the stock a “buy” rating in a research note on Wednesday, April 10th. Three equities research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $89.50.

Insider Buying and Selling

In other Colgate-Palmolive news, insider Jennifer Daniels sold 3,538 shares of the business’s stock in a transaction that occurred on Tuesday, February 20th. The stock was sold at an average price of $84.67, for a total transaction of $299,562.46. Following the completion of the sale, the insider now directly owns 59,698 shares in the company, valued at approximately $5,054,629.66. The transaction was disclosed in a document filed with the SEC, which is available through this link. In other Colgate-Palmolive news, EVP Gregory Malcolm sold 8,930 shares of the business’s stock in a transaction that occurred on Thursday, February 1st. The stock was 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 directly owns 8,043 shares in the company, valued at approximately $686,470.05. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, insider Jennifer Daniels sold 3,538 shares of the business’s stock in a transaction that occurred on Tuesday, February 20th. The stock was sold at an average price of $84.67, for a total value of $299,562.46. Following the sale, the insider now owns 59,698 shares of the company’s stock, valued at $5,054,629.66. The disclosure for this sale can be found here. In the last 90 days, insiders sold 232,371 shares of company stock valued at $19,505,099. 0.34% of the stock is owned by company insiders.

About Colgate-Palmolive

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.