Avanza Fonder AB purchased a new stake in shares of Colgate-Palmolive (NYSE:CL - Free Report) in the fourth quarter, according to the company in its most recent filing with the SEC. The fund purchased 87,387 shares of the company's stock, valued at approximately $7,944,000.
Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Envestnet Asset Management Inc. increased its stake in Colgate-Palmolive by 16.2% in the 2nd quarter. Envestnet Asset Management Inc. now owns 459,445 shares of the company's stock valued at $44,585,000 after buying an additional 64,123 shares during the last quarter. Edgestream Partners L.P. boosted its holdings in shares of Colgate-Palmolive by 13.9% in the 2nd quarter. Edgestream Partners L.P. now owns 19,864 shares of the company's stock worth $1,928,000 after buying an additional 2,423 shares during the last quarter. Mercer Global Advisors Inc. ADV boosted its stake in Colgate-Palmolive by 2.0% in the second quarter. Mercer Global Advisors Inc. ADV now owns 126,759 shares of the company's stock valued at $12,301,000 after acquiring an additional 2,541 shares during the last quarter. Amalgamated Bank grew its position in shares of Colgate-Palmolive by 0.9% during the 2nd quarter. Amalgamated Bank now owns 171,194 shares of the company's stock valued at $16,613,000 after acquiring an additional 1,599 shares during the period. Finally, Vanguard Personalized Indexing Management LLC increased its stake in shares of Colgate-Palmolive by 23.9% during the 2nd quarter. Vanguard Personalized Indexing Management LLC now owns 76,857 shares of the company's stock worth $7,319,000 after purchasing an additional 14,811 shares during the last quarter. 80.41% of the stock is owned by institutional investors.
Colgate-Palmolive Price Performance
Shares of CL traded up $0.23 during midday trading on Friday, reaching $88.79. The stock had a trading volume of 5,149,874 shares, compared to its average volume of 3,679,883. The company has a current ratio of 1.04, a quick ratio of 0.68 and a debt-to-equity ratio of 9.46. The company has a market capitalization of $72.55 billion, a price-to-earnings ratio of 25.44, a price-to-earnings-growth ratio of 3.01 and a beta of 0.44. The company's 50-day moving average is $92.20 and its 200 day moving average is $97.74. Colgate-Palmolive has a 12-month low of $79.69 and a 12-month high of $109.30.
Colgate-Palmolive Dividend Announcement
The firm also recently declared a quarterly dividend, which will be paid on Friday, February 14th. Shareholders of record on Tuesday, January 21st will be given a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a yield of 2.25%. The ex-dividend date is Tuesday, January 21st. Colgate-Palmolive's payout ratio is currently 57.31%.
Wall Street Analysts Forecast Growth
Several equities analysts have weighed in on the company. JPMorgan Chase & Co. reduced their price objective on Colgate-Palmolive from $109.00 to $103.00 and set an "overweight" rating for the company in a report on Thursday. UBS Group cut their price target on Colgate-Palmolive from $112.00 to $104.00 and set a "buy" rating for the company in a research note on Thursday. Wells Fargo & Company lowered their price objective on Colgate-Palmolive from $92.00 to $83.00 and set an "underweight" rating on the stock in a research note on Tuesday, January 7th. StockNews.com lowered shares of Colgate-Palmolive from a "buy" rating to a "hold" rating in a research report on Thursday, January 9th. Finally, Stifel Nicolaus lowered their price target on shares of Colgate-Palmolive from $101.00 to $95.00 and set a "hold" rating on the stock in a research report on Friday. One analyst has rated the stock with a sell rating, ten have assigned a hold rating and twelve have issued a buy rating to the company's stock. According to MarketBeat.com, the stock has an average rating of "Hold" and an average price target of $101.11.
Check Out Our Latest Research Report on CL
Insiders Place Their Bets
In other news, CFO Stanley J. Sutula III sold 45,410 shares of the firm's stock in a transaction dated Tuesday, November 5th. The stock was sold at an average price of $94.11, for a total transaction of $4,273,535.10. Following the transaction, the chief financial officer now directly owns 36,726 shares of the company's stock, valued at approximately $3,456,283.86. This trade represents a 55.29 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 0.37% of the company's stock.
Colgate-Palmolive Profile
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Free Report)
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.
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