Community Bank N.A. lifted its holdings in shares of Colgate-Palmolive (NYSE:CL) by 0.9% during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 19,184 shares of the company’s stock after purchasing an additional 180 shares during the quarter. Community Bank N.A.’s holdings in Colgate-Palmolive were worth $1,405,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Advisory Alpha LLC acquired a new stake in shares of Colgate-Palmolive during the first quarter worth about $26,000. Balentine LLC bought a new position in shares of Colgate-Palmolive during the 1st quarter worth approximately $36,000. Golden State Wealth Management LLC bought a new position in shares of Colgate-Palmolive during the 1st quarter worth approximately $40,000. Paragon Capital Management LLC bought a new position in shares of Colgate-Palmolive during the 1st quarter worth approximately $42,000. Finally, Capital Advisory Group Advisory Services LLC bought a new position in shares of Colgate-Palmolive during the 1st quarter worth approximately $45,000. 77.13% of the stock is currently owned by institutional investors.
NYSE CL traded up $0.33 during midday trading on Friday, hitting $77.20. The company had a trading volume of 4,347,233 shares, compared to its average volume of 3,232,749. The company has a market capitalization of $66.12 billion, a PE ratio of 26.35, a P/E/G ratio of 4.76 and a beta of 0.60. The company has a current ratio of 0.96, a quick ratio of 0.66 and a debt-to-equity ratio of 21.51. The firm has a 50-day moving average price of $73.69 and a 200-day moving average price of $71.47. Colgate-Palmolive has a twelve month low of $58.49 and a twelve month high of $77.46.
The firm also recently declared a quarterly dividend, which will be paid on Friday, August 14th. Stockholders of record on Monday, July 20th will be issued a dividend of $0.44 per share. The ex-dividend date is Friday, July 17th. This represents a $1.76 dividend on an annualized basis and a dividend yield of 2.28%. Colgate-Palmolive’s dividend payout ratio (DPR) is currently 62.19%.
In other news, Director Michael B. Polk sold 3,115 shares of the business’s stock in a transaction on Wednesday, May 13th. The stock was sold at an average price of $68.08, for a total transaction of $212,069.20. Following the completion of the transaction, the director now owns 20,622 shares of the company’s stock, valued at approximately $1,403,945.76. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. 0.78% of the stock is currently owned by insiders.
Several brokerages have recently commented on CL. Stifel Nicolaus lifted their target price on Colgate-Palmolive from $72.00 to $75.00 and gave the stock a “buy” rating in a research note on Monday, May 4th. SunTrust Banks lifted their price target on Colgate-Palmolive from $75.00 to $80.00 and gave the stock a “buy” rating in a report on Friday, May 15th. Deutsche Bank lifted their price target on Colgate-Palmolive from $73.00 to $75.00 and gave the stock a “hold” rating in a report on Monday, July 27th. TheStreet cut Colgate-Palmolive from a “b” rating to a “c+” rating in a report on Friday, May 1st. Finally, Morgan Stanley cut Colgate-Palmolive from an “overweight” rating to an “equal weight” rating and set a $78.00 price target for the company. in a report on Wednesday, July 22nd. They noted that the move was a valuation call. Three analysts have rated the stock with a sell rating, five have assigned a hold rating and seven have assigned a buy rating to the stock. The stock currently has a consensus rating of “Hold” and a consensus target price of $74.92.
Colgate-Palmolive Company, together with its subsidiaries, manufactures and sells consumer products worldwide. The company operates through two segments, Oral, Personal and Home Care; and Pet Nutrition. It offers oral care products, including toothpastes, toothbrushes, and mouthwashes, as well as pharmaceutical products for dentists and other oral health professionals; and personal care products, such as liquid hand soaps, bar soaps, shower gels, deodorants and antiperspirants, skin care products, and shampoos and conditioners.
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