IHT Wealth Management LLC Raises Stock Position in Colgate-Palmolive (NYSE:CL)

IHT Wealth Management LLC lifted its stake in shares of Colgate-Palmolive (NYSE:CL - Free Report) by 37.8% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 21,377 shares of the company's stock after buying an additional 5,869 shares during the period. IHT Wealth Management LLC's holdings in Colgate-Palmolive were worth $2,196,000 at the end of the most recent quarter.

Other large investors have also recently made changes to their positions in the company. E Fund Management Hong Kong Co. Ltd. acquired a new position in Colgate-Palmolive in the 2nd quarter worth approximately $25,000. Continuum Advisory LLC boosted its holdings in shares of 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 acquiring an additional 125 shares during the last quarter. Reston Wealth Management LLC acquired a new stake in shares of Colgate-Palmolive in the third quarter worth $42,000. Capital Performance Advisors LLP purchased a new position in shares of Colgate-Palmolive during the third quarter worth $53,000. Finally, Prospera Private Wealth LLC acquired a new position in Colgate-Palmolive during the third quarter valued at $64,000. 80.41% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Colgate-Palmolive

In related news, CFO Stanley J. Sutula III sold 45,410 shares of the stock in a transaction that occurred on 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 completion of the sale, the chief financial officer now 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 0.34% of the company's stock.

Wall Street Analyst Weigh In

Several equities research analysts have weighed in on CL shares. Stifel Nicolaus downgraded Colgate-Palmolive from a "buy" rating to a "hold" rating and cut their price target for the stock from $105.00 to $101.00 in a research report on Monday, October 28th. Wells Fargo & Company dropped their target price on Colgate-Palmolive from $100.00 to $92.00 and set an "underweight" rating on the stock in a report on Monday, October 28th. Piper Sandler began coverage on Colgate-Palmolive in a report on Tuesday, September 24th. They issued an "overweight" rating and a $121.00 price target for the company. Deutsche Bank Aktiengesellschaft cut shares of Colgate-Palmolive from a "buy" rating to a "hold" rating and raised their price objective for the stock from $107.00 to $109.00 in a research note on Monday, September 9th. Finally, StockNews.com upgraded shares of Colgate-Palmolive from a "hold" rating to a "buy" rating in a research note on Monday, November 25th. One analyst has rated the stock with a sell rating, nine have assigned a hold rating and thirteen have given a buy rating to the company's stock. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average price target of $105.11.

Colgate-Palmolive Price Performance

Shares of NYSE CL traded up $0.29 during midday trading on Thursday, hitting $95.10. The stock had a trading volume of 4,407,090 shares, compared to its average volume of 4,384,337. 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 stock has a 50 day simple moving average of $96.73 and a 200-day simple moving average of $98.61. The company has a market capitalization of $77.70 billion, a PE ratio of 27.25, a P/E/G ratio of 3.38 and a beta of 0.43. Colgate-Palmolive has a 1 year low of $75.50 and a 1 year high of $109.30.

Colgate-Palmolive Announces Dividend

The firm 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. The ex-dividend date was Friday, October 18th. This represents a $2.00 annualized dividend and a yield of 2.10%. Colgate-Palmolive's dividend payout ratio (DPR) is presently 57.31%.

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.