Canoe Financial LP lifted its stake in Colgate-Palmolive (NYSE:CL - Free Report) by 5.0% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 88,646 shares of the company's stock after purchasing an additional 4,200 shares during the quarter. Canoe Financial LP's holdings in Colgate-Palmolive were worth $8,059,000 as of its most recent filing with the Securities & Exchange Commission.
Other hedge funds and other institutional investors also recently made changes to their positions in the company. Reston Wealth Management LLC bought a new stake in Colgate-Palmolive during the 3rd quarter valued at about $42,000. Capital Performance Advisors LLP bought a new stake in shares of Colgate-Palmolive during the third quarter valued at approximately $53,000. Prospera Private Wealth LLC purchased a new position in Colgate-Palmolive in the 3rd quarter worth approximately $64,000. True Wealth Design LLC raised its holdings in Colgate-Palmolive by 1,460.9% in the 3rd quarter. True Wealth Design LLC now owns 718 shares of the company's stock worth $75,000 after acquiring an additional 672 shares during the last quarter. Finally, Continuum Advisory LLC lifted its position in Colgate-Palmolive by 93.4% in the 3rd quarter. Continuum Advisory LLC now owns 762 shares of the company's stock valued at $79,000 after acquiring an additional 368 shares in the last quarter. Hedge funds and other institutional investors own 80.41% of the company's stock.
Wall Street Analyst Weigh In
Several research analysts have recently weighed in on CL shares. TD Cowen decreased their price target on Colgate-Palmolive from $110.00 to $100.00 and set a "buy" rating for the company in a research note on Wednesday, January 8th. Stifel Nicolaus reduced their price objective on Colgate-Palmolive from $101.00 to $95.00 and set a "hold" rating for the company in a report on Friday. Piper Sandler lowered their target price on shares of Colgate-Palmolive from $121.00 to $112.00 and set an "overweight" rating on the stock in a research note on Monday, January 6th. StockNews.com lowered shares of Colgate-Palmolive from a "buy" rating to a "hold" rating in a research note on Thursday, January 9th. Finally, JPMorgan Chase & Co. lowered their price objective on shares of Colgate-Palmolive from $109.00 to $103.00 and set an "overweight" rating on the stock in a research report on Thursday. One equities research analyst has rated the stock with a sell rating, ten have issued a hold rating and twelve have issued a buy rating to the company. According to MarketBeat, Colgate-Palmolive has an average rating of "Hold" and an average price target of $101.11.
Read Our Latest Report on CL
Colgate-Palmolive Price Performance
Shares of CL stock traded up $0.23 on Friday, hitting $88.79. 5,149,874 shares of the stock traded hands, compared to its average volume of 3,679,883. The firm has a market cap of $72.55 billion, a price-to-earnings ratio of 25.44, a PEG ratio of 3.01 and a beta of 0.44. 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 50 day simple moving average of $92.20 and a two-hundred day simple moving average of $97.75. Colgate-Palmolive has a 52 week low of $79.69 and a 52 week high of $109.30.
Colgate-Palmolive Announces Dividend
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, February 14th. Stockholders of record on Tuesday, January 21st will be given a $0.50 dividend. The ex-dividend date is Tuesday, January 21st. This represents a $2.00 annualized dividend and a dividend yield of 2.25%. Colgate-Palmolive's payout ratio is 57.31%.
Insider Transactions at Colgate-Palmolive
In other Colgate-Palmolive news, CFO Stanley J. Sutula III sold 45,410 shares of Colgate-Palmolive 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 in the company, valued at approximately $3,456,283.86. The trade was a 55.29 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Corporate insiders own 0.34% 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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