PNC Financial Services Group Inc. Cuts Stock Position in Colgate-Palmolive (NYSE:CL)

PNC Financial Services Group Inc. lowered its position in shares of Colgate-Palmolive (NYSE:CL - Free Report) by 2.3% in the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 980,063 shares of the company's stock after selling 22,993 shares during the period. PNC Financial Services Group Inc. owned about 0.12% of Colgate-Palmolive worth $101,740,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of CL. E Fund Management Hong Kong Co. Ltd. bought a new stake in shares of Colgate-Palmolive in the 2nd quarter worth approximately $25,000. Continuum Advisory LLC boosted its holdings in Colgate-Palmolive by 46.5% in the second quarter. Continuum Advisory LLC now owns 394 shares of the company's stock worth $38,000 after acquiring an additional 125 shares in the last quarter. Reston Wealth Management LLC purchased a new stake in shares of Colgate-Palmolive in the third quarter worth $42,000. Capital Performance Advisors LLP bought a new position in shares of Colgate-Palmolive during the third quarter valued at $53,000. Finally, Gradient Investments LLC boosted its stake in Colgate-Palmolive by 150.4% in the 2nd quarter. Gradient Investments LLC now owns 666 shares of the company's stock worth $65,000 after purchasing an additional 400 shares in the last quarter. Institutional investors own 80.41% of the company's stock.

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on CL. JPMorgan Chase & Co. lifted their target price on shares of Colgate-Palmolive from $113.00 to $114.00 and gave the stock an "overweight" rating in a report on Friday, October 11th. UBS Group increased their target price on Colgate-Palmolive from $119.00 to $122.00 and gave the company a "buy" rating in a research note on Wednesday, September 4th. StockNews.com upgraded Colgate-Palmolive from a "hold" rating to a "buy" rating in a research note on Thursday, November 14th. Hsbc Global Res cut Colgate-Palmolive from a "strong-buy" rating to a "hold" rating in a research report on Friday, July 26th. Finally, Redburn Atlantic upgraded shares of Colgate-Palmolive to a "hold" rating in a research note on Thursday, August 1st. One equities research analyst has rated the stock with a sell rating, nine have given a hold rating and thirteen have issued a buy rating to the company's stock. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $105.11.

Insider Activity

In related news, Director Martina Hundmejean sold 2,313 shares of the business's stock in a transaction on Friday, August 23rd. The stock was sold at an average price of $103.86, for a total transaction of $240,228.18. Following the completion of the transaction, the director now owns 11,755 shares in the company, valued at $1,220,874.30. The trade was a 16.44 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Stanley J. Sutula III sold 45,410 shares of the company'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 in the company, valued at approximately $3,456,283.86. The trade was a 55.29 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 0.34% of the company's stock.

Colgate-Palmolive Price Performance

Shares of NYSE CL traded up $0.30 during midday trading on Wednesday, reaching $93.91. 4,300,705 shares of the stock traded hands, compared to its average volume of 4,390,289. Colgate-Palmolive has a one year low of $75.39 and a one year high of $109.30. The stock has a market capitalization of $76.73 billion, a PE ratio of 26.91, a P/E/G ratio of 3.34 and a beta of 0.42. The company's 50 day moving average is $98.56 and its 200 day moving average is $98.52. The company has a debt-to-equity ratio of 9.46, a current ratio of 1.04 and a quick ratio of 0.68.

Colgate-Palmolive Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, November 15th. Shareholders of record on Friday, October 18th were given a dividend of $0.50 per share. The ex-dividend date was Friday, October 18th. This represents a $2.00 dividend on an annualized basis and a yield of 2.13%. 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.