Berkshire Bank decreased its holdings in shares of Colgate-Palmolive (NYSE:CL) by 2.6% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 7,590 shares of the company’s stock after selling 200 shares during the period. Berkshire Bank’s holdings in Colgate-Palmolive were worth $573,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Several other hedge funds have also modified their holdings of CL. Usca Ria LLC boosted its holdings in Colgate-Palmolive by 4.0% in the 2nd quarter. Usca Ria LLC now owns 34,373 shares of the company’s stock worth $2,796,000 after buying an additional 1,335 shares during the period. Trexquant Investment LP bought a new position in Colgate-Palmolive in the 2nd quarter worth $7,487,000. Tocqueville Asset Management L.P. boosted its holdings in Colgate-Palmolive by 1.1% in the 2nd quarter. Tocqueville Asset Management L.P. now owns 480,143 shares of the company’s stock worth $39,060,000 after buying an additional 5,318 shares during the period. HighPoint Advisor Group LLC boosted its holdings in Colgate-Palmolive by 70.6% in the 2nd quarter. HighPoint Advisor Group LLC now owns 24,959 shares of the company’s stock worth $2,030,000 after buying an additional 10,325 shares during the period. Finally, Scotia Capital Inc. boosted its holdings in Colgate-Palmolive by 3.4% in the 2nd quarter. Scotia Capital Inc. now owns 88,787 shares of the company’s stock worth $7,223,000 after buying an additional 2,917 shares during the period. 76.26% of the stock is owned by hedge funds and other institutional investors.
Shares of NYSE CL traded down $0.17 during mid-day trading on Thursday, hitting $77.76. 2,350,399 shares of the company’s stock traded hands, compared to its average volume of 4,252,988. The company’s 50-day moving average is $76.44 and its two-hundred day moving average is $79.54. The company has a debt-to-equity ratio of 7.48, a current ratio of 1.09 and a quick ratio of 0.70. The company has a market capitalization of $65.54 billion, a P/E ratio of 24.84, a PEG ratio of 4.36 and a beta of 0.59. Colgate-Palmolive has a 1 year low of $74.01 and a 1 year high of $86.38.
The company also recently disclosed a quarterly dividend, which was paid on Monday, November 15th. Investors of record on Thursday, October 21st were given a $0.45 dividend. This represents a $1.80 dividend on an annualized basis and a yield of 2.31%. The ex-dividend date of this dividend was Wednesday, October 20th. Colgate-Palmolive’s dividend payout ratio (DPR) is currently 57.51%.
Several research analysts recently weighed in on CL shares. Barclays dropped their target price on shares of Colgate-Palmolive from $85.00 to $83.00 and set an “equal weight” rating for the company in a report on Tuesday, November 2nd. Zacks Investment Research downgraded shares of Colgate-Palmolive from a “hold” rating to a “sell” rating and set a $82.00 target price for the company. in a report on Tuesday, November 9th. Deutsche Bank Aktiengesellschaft upgraded shares of Colgate-Palmolive from a “hold” rating to a “buy” rating and boosted their price target for the stock from $84.00 to $86.00 in a research note on Monday, September 20th. Bank of America initiated coverage on shares of Colgate-Palmolive in a research note on Tuesday, October 5th. They issued a “neutral” rating on the stock. Finally, Royal Bank of Canada decreased their price target on shares of Colgate-Palmolive from $90.00 to $85.00 and set a “sector perform” rating on the stock in a research note on Monday, November 1st. Three analysts have rated the stock with a sell rating, six have issued a hold rating and four have given a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $85.25.
In related news, CEO Noel R. Wallace sold 145,200 shares of the stock in a transaction dated Thursday, November 4th. The shares were sold at an average price of $77.18, for a total value of $11,206,536.00. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider John W. Kooyman sold 576 shares of the stock in a transaction dated Monday, November 8th. The stock was sold at an average price of $77.14, for a total transaction of $44,432.64. The disclosure for this sale can be found here. Insiders sold a total of 146,386 shares of company stock worth $11,298,048 over the last three months. 0.32% of the stock is currently owned by corporate insiders.
Colgate-Palmolive Company Profile
Colgate-Palmolive Co is engaged in the manufacturing and distribution of consumer products. It operates through Oral, Personal and Home Care and Pet Nutrition segments. The Oral, Personal and Home Care segment represents North America, Latin America, Europe, Asia Pacific, and Africa or Eurasia, all of which sell to a variety of retail and wholesale customers and distributors.
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