Braun Stacey Associates Inc. Makes New $23.96 Million Investment in Colgate-Palmolive (NYSE:CL)

Braun Stacey Associates Inc. acquired a new stake in Colgate-Palmolive (NYSE:CL - Free Report) during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund acquired 230,820 shares of the company's stock, valued at approximately $23,961,000.

Other large investors have also recently bought and sold shares of the company. E Fund Management Hong Kong Co. Ltd. acquired a new stake in Colgate-Palmolive in the 2nd quarter valued at about $25,000. Continuum Advisory LLC grew its holdings in Colgate-Palmolive by 46.5% in the 2nd quarter. Continuum Advisory LLC now owns 394 shares of the company's stock valued at $38,000 after buying an additional 125 shares during the period. Reston Wealth Management LLC acquired a new stake in shares of Colgate-Palmolive during the 3rd quarter worth $42,000. Capital Performance Advisors LLP purchased a new position in shares of Colgate-Palmolive in the 3rd quarter worth about $53,000. Finally, Gradient Investments LLC lifted its position in Colgate-Palmolive by 150.4% during the second quarter. Gradient Investments LLC now owns 666 shares of the company's stock valued at $65,000 after buying an additional 400 shares in the last quarter. Hedge funds and other institutional investors own 80.41% of the company's stock.

Colgate-Palmolive Trading Up 1.4 %

Shares of Colgate-Palmolive stock traded up $1.32 during trading on Monday, hitting $94.88. The stock had a trading volume of 2,638,558 shares, compared to its average volume of 4,379,354. Colgate-Palmolive has a 1 year low of $75.17 and a 1 year high of $109.30. The stock has a 50 day simple moving average of $99.31 and a 200 day simple moving average of $98.54. The company has a quick ratio of 0.68, a current ratio of 1.04 and a debt-to-equity ratio of 9.46. The company has a market capitalization of $77.52 billion, a PE ratio of 26.81, a P/E/G ratio of 3.34 and a beta of 0.42.

Colgate-Palmolive Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, November 15th. Shareholders of record on Friday, October 18th were paid a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a yield of 2.11%. The ex-dividend date of this dividend was Friday, October 18th. Colgate-Palmolive's dividend payout ratio (DPR) is currently 57.31%.

Analyst Ratings Changes

Several research firms recently issued reports on CL. Barclays lifted their price target on shares of Colgate-Palmolive from $91.00 to $96.00 and gave the stock an "equal weight" rating in a research note on Monday, July 29th. Redburn Atlantic upgraded shares of Colgate-Palmolive to a "hold" rating in a research note on Thursday, August 1st. Jefferies Financial Group lowered Colgate-Palmolive from a "buy" rating to a "hold" rating and decreased their target price for the stock from $103.00 to $95.00 in a research report on Wednesday, July 24th. Piper Sandler initiated coverage on shares of Colgate-Palmolive in a report on Tuesday, September 24th. They issued an "overweight" rating and a $121.00 target price on the stock. Finally, TD Cowen cut their price target on Colgate-Palmolive from $115.00 to $110.00 and set a "buy" rating on the stock in a report on Monday, October 28th. One investment analyst has rated the stock with a sell rating, nine have given a hold rating and thirteen have issued a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $105.11.

Insider Activity

In related news, Director Martina Hundmejean sold 2,313 shares of Colgate-Palmolive stock in a transaction on Friday, August 23rd. The stock was sold at an average price of $103.86, for a total transaction of $240,228.18. Following the completion of the sale, the director now owns 11,755 shares of the company's stock, valued at approximately $1,220,874.30. This trade represents a 16.44 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, 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 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 $3,456,283.86. This trade represents a 55.29 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 0.34% of the company's stock.

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.