Merit Financial Group LLC lifted its stake in shares of Colgate-Palmolive (NYSE:CL - Free Report) by 36.0% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 30,640 shares of the company's stock after purchasing an additional 8,114 shares during the quarter. Merit Financial Group LLC's holdings in Colgate-Palmolive were worth $2,786,000 at the end of the most recent reporting period.
Several other large investors also recently made changes to their positions in the company. Reston Wealth Management LLC bought a new stake in shares of Colgate-Palmolive during the third quarter worth about $42,000. Capital Performance Advisors LLP purchased a new stake in shares of Colgate-Palmolive in the third quarter worth approximately $53,000. Prospera Private Wealth LLC purchased a new stake in shares of Colgate-Palmolive in the third quarter worth approximately $64,000. True Wealth Design LLC boosted its position in shares of Colgate-Palmolive by 1,460.9% during the third quarter. True Wealth Design LLC now owns 718 shares of the company's stock valued at $75,000 after buying an additional 672 shares during the last quarter. Finally, Continuum Advisory LLC boosted its position in shares of Colgate-Palmolive by 93.4% during the third quarter. Continuum Advisory LLC now owns 762 shares of the company's stock valued at $79,000 after buying an additional 368 shares during the last quarter. 80.41% of the stock is currently owned by institutional investors and hedge funds.
Insider Buying and Selling
In other news, CFO Stanley J. Sutula III sold 45,410 shares of the business'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 completion of the transaction, the chief financial officer now owns 36,726 shares of the company's stock, valued at approximately $3,456,283.86. The trade was a 55.29 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.37% of the stock is currently owned by insiders.
Wall Street Analysts Forecast Growth
Several equities analysts have weighed in on the company. Barclays dropped their price objective on Colgate-Palmolive from $96.00 to $83.00 and set an "equal weight" rating on the stock in a research note on Friday. JPMorgan Chase & Co. cut their price target on shares of Colgate-Palmolive from $109.00 to $103.00 and set an "overweight" rating on the stock in a report on Thursday. StockNews.com downgraded shares of Colgate-Palmolive from a "buy" rating to a "hold" rating in a research report on Thursday, January 9th. UBS Group cut their target price on Colgate-Palmolive from $112.00 to $104.00 and set a "buy" rating on the stock in a research note on Thursday. Finally, Wells Fargo & Company decreased their price target on Colgate-Palmolive from $92.00 to $83.00 and set an "underweight" rating for the company in a research report on Tuesday, January 7th. 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. According to data from MarketBeat.com, Colgate-Palmolive presently has a consensus rating of "Hold" and a consensus target price of $101.11.
Get Our Latest Analysis on Colgate-Palmolive
Colgate-Palmolive Price Performance
NYSE CL traded up $0.23 during trading hours on Monday, hitting $88.79. The company had a trading volume of 5,149,874 shares, compared to its average volume of 3,679,883. 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 capitalization of $72.55 billion, a price-to-earnings ratio of 25.44, a PEG ratio of 3.01 and a beta of 0.44. Colgate-Palmolive has a 52 week low of $79.69 and a 52 week high of $109.30. The firm has a 50 day simple moving average of $92.20 and a 200 day simple moving average of $97.76.
Colgate-Palmolive Announces Dividend
The company also recently disclosed a quarterly dividend, which will be paid on Friday, February 14th. Investors of record on Tuesday, January 21st will be paid a dividend of $0.50 per share. The ex-dividend date of this dividend is Tuesday, January 21st. This represents a $2.00 annualized dividend and a yield of 2.25%. Colgate-Palmolive's dividend payout ratio is currently 57.31%.
Colgate-Palmolive Company 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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