Financial Counselors Inc. Reduces Position in Colgate-Palmolive (NYSE:CL)

Financial Counselors Inc. lowered its position in Colgate-Palmolive (NYSE:CL) by 1.0% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 17,041 shares of the company’s stock after selling 170 shares during the period. Financial Counselors Inc.’s holdings in Colgate-Palmolive were worth $1,769,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also modified their holdings of the company. E Fund Management Hong Kong Co. Ltd. purchased a new position in Colgate-Palmolive in the 2nd quarter worth about $25,000. Continuum Advisory LLC increased its position in shares of Colgate-Palmolive by 46.5% during the second quarter. Continuum Advisory LLC now owns 394 shares of the company’s stock worth $38,000 after acquiring an additional 125 shares during the period. Reston Wealth Management LLC bought a new stake in shares of Colgate-Palmolive during the third quarter valued at approximately $42,000. Capital Performance Advisors LLP purchased a new stake in shares of Colgate-Palmolive in the third quarter valued at approximately $53,000. Finally, Prospera Private Wealth LLC bought a new position in Colgate-Palmolive in the third quarter worth approximately $64,000. Hedge funds and other institutional investors own 80.41% of the company’s stock.

Insider Activity at Colgate-Palmolive

In other Colgate-Palmolive news, CFO Stanley J. Sutula III sold 45,410 shares of the company’s stock in a transaction on Tuesday, November 5th. The shares were sold at an average price of $94.11, for a total value of $4,273,535.10. Following the sale, the chief financial officer now directly owns 36,726 shares of the company’s stock, valued at approximately $3,456,283.86. This represents a 55.29 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 0.34% of the stock is owned by insiders.

Colgate-Palmolive Stock Performance

Shares of CL stock opened at $96.60 on Friday. The business has a fifty day moving average of $97.38 and a 200 day moving average of $98.58. Colgate-Palmolive has a 1 year low of $75.50 and a 1 year high of $109.30. The company has a debt-to-equity ratio of 9.46, a current ratio of 1.04 and a quick ratio of 0.68. The firm has a market capitalization of $78.92 billion, a price-to-earnings ratio of 27.68, a price-to-earnings-growth ratio of 3.45 and a beta of 0.42.

Colgate-Palmolive Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, November 15th. Investors of record on Friday, October 18th were issued a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a dividend yield of 2.07%. The ex-dividend date was Friday, October 18th. Colgate-Palmolive’s dividend payout ratio (DPR) is 57.31%.

Analysts Set New Price Targets

Several equities research analysts have weighed in on the company. Piper Sandler began coverage on Colgate-Palmolive in a report on Tuesday, September 24th. They issued an “overweight” rating and a $121.00 target price for the company. Wells Fargo & Company dropped their target price on shares of Colgate-Palmolive from $100.00 to $92.00 and set an “underweight” rating on the stock in a report on Monday, October 28th. Deutsche Bank Aktiengesellschaft lowered shares of Colgate-Palmolive from a “buy” rating to a “hold” rating and boosted their price target for the company from $107.00 to $109.00 in a report on Monday, September 9th. Stifel Nicolaus downgraded shares of Colgate-Palmolive from a “buy” rating to a “hold” rating and dropped their price objective for the company from $105.00 to $101.00 in a research note on Monday, October 28th. Finally, UBS Group boosted their price objective on shares of Colgate-Palmolive from $119.00 to $122.00 and gave the stock a “buy” rating in a research note on Wednesday, September 4th. One equities research analyst has rated the stock with a sell rating, nine have given a hold rating and thirteen have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $105.11.

Colgate-Palmolive Company 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.