Colgate-Palmolive (NYSE:CL) Shares Sold by Destination Wealth Management

Destination Wealth Management reduced its holdings in Colgate-Palmolive (NYSE:CL - Free Report) by 1.6% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 499,416 shares of the company's stock after selling 8,195 shares during the period. Colgate-Palmolive comprises 1.6% of Destination Wealth Management's holdings, making the stock its 20th biggest position. Destination Wealth Management owned about 0.06% of Colgate-Palmolive worth $51,844,000 as of its most recent SEC filing.

A number of other large investors also recently bought and sold shares of the business. Gordian Advisors LLC acquired a new position in Colgate-Palmolive during the third quarter worth $602,000. Carrera Capital Advisors raised its holdings in shares of Colgate-Palmolive by 23.1% in the 3rd quarter. Carrera Capital Advisors now owns 39,170 shares of the company's stock valued at $4,066,000 after purchasing an additional 7,353 shares in the last quarter. Vontobel Holding Ltd. grew its stake in shares of Colgate-Palmolive by 224.6% during the third quarter. Vontobel Holding Ltd. now owns 795,938 shares of the company's stock worth $82,626,000 after purchasing an additional 550,750 shares in the last quarter. Handelsbanken Fonder AB raised its position in shares of Colgate-Palmolive by 10.9% during the 3rd quarter. Handelsbanken Fonder AB now owns 332,972 shares of the company's stock worth $34,566,000 after acquiring an additional 32,624 shares in the last quarter. Finally, Barclays PLC increased its stake in Colgate-Palmolive by 38.7% in the third quarter. Barclays PLC now owns 7,644,189 shares of the company's stock valued at $793,542,000 after purchasing an additional 2,132,747 shares during the last quarter. Institutional investors and hedge funds own 80.41% of the company's stock.

Insider Transactions at Colgate-Palmolive

In other news, CFO Stanley J. Sutula III sold 45,410 shares of the company's stock in a transaction that occurred on 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 completion of 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 represents a 55.29 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 0.37% of the company's stock.

Colgate-Palmolive Stock Up 0.2 %

Colgate-Palmolive stock traded up $0.20 during trading on Thursday, reaching $92.96. 164,189 shares of the company's stock were exchanged, compared to its average volume of 4,364,410. Colgate-Palmolive has a 52-week low of $75.50 and a 52-week high of $109.30. The company's 50-day moving average is $95.97 and its two-hundred day moving average is $98.62. The company has a debt-to-equity ratio of 9.46, a quick ratio of 0.68 and a current ratio of 1.04. The firm has a market cap of $75.95 billion, a price-to-earnings ratio of 26.58, a PEG ratio of 3.36 and a beta of 0.43.

Colgate-Palmolive Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, February 14th. Investors of record on Tuesday, January 21st will be issued a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a yield of 2.15%. Colgate-Palmolive's dividend payout ratio is currently 57.31%.

Wall Street Analysts Forecast Growth

CL has been the topic of several research analyst reports. TD Cowen cut their price target on shares of Colgate-Palmolive from $115.00 to $110.00 and set a "buy" rating on the stock in a research note on Monday, October 28th. JPMorgan Chase & Co. boosted their price objective on Colgate-Palmolive from $113.00 to $114.00 and gave the company an "overweight" rating in a research note on Friday, October 11th. Wells Fargo & Company dropped their price objective on shares of Colgate-Palmolive from $100.00 to $92.00 and set an "underweight" rating on the stock in a research note on Monday, October 28th. Stifel Nicolaus downgraded Colgate-Palmolive from a "buy" rating to a "hold" rating and lowered their target price for the company from $105.00 to $101.00 in a research note on Monday, October 28th. Finally, UBS Group lifted their price objective on shares of Colgate-Palmolive from $119.00 to $122.00 and gave the company a "buy" rating in a research report on Wednesday, September 4th. One analyst has rated the stock with a sell rating, nine have issued a hold rating and thirteen have given a buy rating to the company's stock. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus target price of $105.11.

About Colgate-Palmolive

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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