Prospector Partners LLC Trims Stock Holdings in Colgate-Palmolive (NYSE:CL)

Prospector Partners LLC decreased its stake in shares of Colgate-Palmolive (NYSE:CL - Free Report) by 4.8% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 167,116 shares of the company's stock after selling 8,399 shares during the period. Colgate-Palmolive makes up 1.8% of Prospector Partners LLC's investment portfolio, making the stock its 18th largest holding. Prospector Partners LLC's holdings in Colgate-Palmolive were worth $17,348,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in CL. Main Street Research LLC boosted its stake in Colgate-Palmolive by 1.5% during the 2nd quarter. Main Street Research LLC now owns 6,939 shares of the company's stock valued at $673,000 after purchasing an additional 100 shares during the last quarter. Advisor OS LLC increased its holdings in Colgate-Palmolive by 4.5% in the 2nd quarter. Advisor OS LLC now owns 2,348 shares of the company's stock worth $228,000 after buying an additional 101 shares in the last quarter. BLB&B Advisors LLC raised its position in Colgate-Palmolive by 2.5% in the 2nd quarter. BLB&B Advisors LLC now owns 4,337 shares of the company's stock worth $421,000 after buying an additional 104 shares during the last quarter. D Orazio & Associates Inc. lifted its stake in Colgate-Palmolive by 3.9% during the 3rd quarter. D Orazio & Associates Inc. now owns 2,862 shares of the company's stock valued at $297,000 after acquiring an additional 108 shares during the period. Finally, ZWJ Investment Counsel Inc. boosted its holdings in shares of Colgate-Palmolive by 3.1% during the 2nd quarter. ZWJ Investment Counsel Inc. now owns 3,591 shares of the company's stock valued at $349,000 after acquiring an additional 109 shares during the last quarter. 80.41% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of analysts recently commented on the company. JPMorgan Chase & Co. upped their price objective on Colgate-Palmolive from $113.00 to $114.00 and gave the company an "overweight" rating in a research report on Friday, October 11th. Sanford C. Bernstein increased their price objective on shares of Colgate-Palmolive from $100.00 to $103.00 and gave the stock a "market perform" rating in a research note on Tuesday, July 30th. Piper Sandler initiated coverage on shares of Colgate-Palmolive in a research report on Tuesday, September 24th. They set an "overweight" rating and a $121.00 target price for the company. Morgan Stanley increased their price target on shares of Colgate-Palmolive from $103.00 to $111.00 and gave the stock an "overweight" rating in a research report on Monday, July 29th. Finally, Wells Fargo & Company cut their price objective on shares of Colgate-Palmolive from $100.00 to $92.00 and set an "underweight" rating for the company in a research report on Monday, October 28th. One analyst has rated the stock with a sell rating, nine have given a hold rating and thirteen have assigned a buy rating to the company. According to MarketBeat, Colgate-Palmolive currently has an average rating of "Moderate Buy" and an average price target of $105.11.

Insider Transactions at Colgate-Palmolive

In other Colgate-Palmolive news, CFO Stanley J. Sutula III sold 45,410 shares of Colgate-Palmolive stock in a transaction on Tuesday, November 5th. The shares were 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 $3,456,283.86. The trade was a 55.29 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 0.37% of the company's stock.

Colgate-Palmolive Price Performance

Shares of NYSE:CL traded up $1.24 during mid-day trading on Tuesday, reaching $96.58. The stock had a trading volume of 4,359,914 shares, compared to its average volume of 4,390,900. The business's 50 day moving average price is $97.90 and its 200 day moving average price is $98.58. Colgate-Palmolive has a 1 year low of $75.50 and a 1 year high of $109.30. The company has a market cap of $78.91 billion, a P/E ratio of 27.32, a price-to-earnings-growth ratio of 3.39 and a beta of 0.42. The company has a current ratio of 1.04, a quick ratio of 0.68 and a debt-to-equity ratio of 9.46.

Colgate-Palmolive Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, November 15th. Shareholders of record on Friday, October 18th were paid a $0.50 dividend. The ex-dividend date of this dividend was Friday, October 18th. This represents a $2.00 dividend on an annualized basis and a dividend yield of 2.07%. Colgate-Palmolive's payout ratio is currently 57.31%.

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.