Peak Financial Advisors LLC Takes $1.32 Million Position in Colgate-Palmolive (NYSE:CL)

Peak Financial Advisors LLC bought a new stake in Colgate-Palmolive (NYSE:CL - Free Report) in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor bought 14,462 shares of the company's stock, valued at approximately $1,315,000.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in CL. State Street Corp increased its holdings in Colgate-Palmolive by 3.8% in the third quarter. State Street Corp now owns 48,436,276 shares of the company's stock valued at $5,028,170,000 after buying an additional 1,784,411 shares during the last quarter. Geode Capital Management LLC increased its holdings in shares of Colgate-Palmolive by 2.8% in the 3rd quarter. Geode Capital Management LLC now owns 20,193,331 shares of the company's stock valued at $2,095,325,000 after acquiring an additional 552,949 shares during the last quarter. Massachusetts Financial Services Co. MA raised its position in shares of Colgate-Palmolive by 6.2% during the 3rd quarter. Massachusetts Financial Services Co. MA now owns 9,526,990 shares of the company's stock valued at $988,997,000 after acquiring an additional 557,492 shares in the last quarter. Legal & General Group Plc lifted its stake in Colgate-Palmolive by 0.8% during the second quarter. Legal & General Group Plc now owns 7,785,101 shares of the company's stock worth $755,465,000 after purchasing an additional 61,413 shares during the last quarter. Finally, Barclays PLC boosted its holdings in Colgate-Palmolive by 38.7% in the third quarter. Barclays PLC now owns 7,644,189 shares of the company's stock worth $793,542,000 after purchasing an additional 2,132,747 shares during the period. Hedge funds and other institutional investors own 80.41% of the company's stock.

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on CL shares. JPMorgan Chase & Co. boosted their price objective on shares of Colgate-Palmolive from $113.00 to $114.00 and gave the company an "overweight" rating in a research report on Friday, October 11th. Stifel Nicolaus cut Colgate-Palmolive from a "buy" rating to a "hold" rating and dropped their price target for the stock from $105.00 to $101.00 in a research report on Monday, October 28th. Piper Sandler reduced their price objective on Colgate-Palmolive from $121.00 to $112.00 and set an "overweight" rating for the company in a research report on Monday, January 6th. Wells Fargo & Company dropped their target price on Colgate-Palmolive from $92.00 to $83.00 and set an "underweight" rating on the stock in a research report on Tuesday, January 7th. Finally, StockNews.com downgraded shares of Colgate-Palmolive from a "buy" rating to a "hold" rating in a report on Thursday, January 9th. One investment analyst has rated the stock with a sell rating, ten have assigned a hold rating and twelve have assigned a buy rating to the company. Based on data from MarketBeat.com, Colgate-Palmolive currently has a consensus rating of "Hold" and a consensus target price of $103.63.

Colgate-Palmolive Price Performance

NYSE:CL traded up $0.23 during mid-day trading on Wednesday, reaching $87.90. 2,735,091 shares of the stock were exchanged, compared to its average volume of 4,884,543. The company has a current ratio of 1.04, a quick ratio of 0.68 and a debt-to-equity ratio of 9.46. The business has a fifty day moving average price of $92.36 and a 200 day moving average price of $97.92. Colgate-Palmolive has a 1-year low of $79.69 and a 1-year high of $109.30. The firm has a market capitalization of $71.82 billion, a PE ratio of 25.19, a PEG ratio of 3.31 and a beta of 0.44.

Colgate-Palmolive Announces Dividend

The firm also recently announced 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. This represents a $2.00 annualized dividend and a yield of 2.28%. The ex-dividend date is Tuesday, January 21st. Colgate-Palmolive's dividend payout ratio is presently 57.31%.

Insider Buying and Selling

In related news, CFO Stanley J. Sutula III sold 45,410 shares of Colgate-Palmolive 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 transaction, 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 position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 0.37% of the stock is currently owned by insiders.

Colgate-Palmolive 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.