Vestcor Inc decreased its stake in Colgate-Palmolive (NYSE:CL - Free Report) by 13.2% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 286,322 shares of the company's stock after selling 43,690 shares during the period. Colgate-Palmolive comprises about 0.9% of Vestcor Inc's investment portfolio, making the stock its 16th biggest position. Vestcor Inc's holdings in Colgate-Palmolive were worth $29,723,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
A number of other hedge funds also recently made changes to their positions in CL. Continuum Advisory LLC grew its holdings in shares of Colgate-Palmolive by 46.5% during the 2nd quarter. Continuum Advisory LLC now owns 394 shares of the company's stock valued at $38,000 after purchasing an additional 125 shares during the last quarter. Reston Wealth Management LLC bought a new stake in shares of Colgate-Palmolive in the 3rd quarter valued at about $42,000. Capital Performance Advisors LLP purchased a new stake in Colgate-Palmolive during the 3rd quarter valued at about $53,000. Prospera Private Wealth LLC bought a new position in Colgate-Palmolive during the 3rd quarter worth approximately $64,000. Finally, Gradient Investments LLC lifted its position in Colgate-Palmolive by 150.4% in the second quarter. Gradient Investments LLC now owns 666 shares of the company's stock valued at $65,000 after purchasing an additional 400 shares during the last quarter. 80.41% of the stock is owned by institutional investors.
Insider Activity at Colgate-Palmolive
In other Colgate-Palmolive news, CFO Stanley J. Sutula III sold 45,410 shares of the stock in a transaction that occurred on Tuesday, November 5th. The shares were 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 directly owns 36,726 shares in the company, 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 legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.37% of the stock is owned by insiders.
Colgate-Palmolive Stock Up 1.0 %
Shares of CL stock traded up $0.94 during mid-day trading on Tuesday, hitting $93.88. The company's stock had a trading volume of 4,324,841 shares, compared to its average volume of 4,385,220. The company has a debt-to-equity ratio of 9.46, a quick ratio of 0.68 and a current ratio of 1.04. Colgate-Palmolive has a 52-week low of $75.50 and a 52-week high of $109.30. The stock has a market cap of $76.70 billion, a price-to-earnings ratio of 26.90, a PEG ratio of 3.36 and a beta of 0.43. The business has a 50-day moving average price of $96.33 and a 200 day moving average price of $98.65.
Colgate-Palmolive Announces Dividend
The business also recently declared a quarterly dividend, which was paid on Friday, November 15th. Stockholders 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 2.13%. Colgate-Palmolive's dividend payout ratio is presently 57.31%.
Analyst Upgrades and Downgrades
A number of equities research analysts recently commented on the stock. Wells Fargo & Company lowered their price target on shares of Colgate-Palmolive from $100.00 to $92.00 and set an "underweight" rating for the company in a report on Monday, October 28th. Piper Sandler initiated coverage on Colgate-Palmolive in a report on Tuesday, September 24th. They set an "overweight" rating and a $121.00 price target on the stock. Deutsche Bank Aktiengesellschaft lowered Colgate-Palmolive from a "buy" rating to a "hold" rating and upped their price target for the company from $107.00 to $109.00 in a research report on Monday, September 9th. Stifel Nicolaus lowered 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 note on Monday, October 28th. Finally, TD Cowen reduced their price objective on shares of Colgate-Palmolive from $115.00 to $110.00 and set a "buy" rating on the stock in a research report on Monday, October 28th. One investment analyst has rated the stock with a sell rating, nine have assigned a hold rating and thirteen have given a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $105.11.
Get Our Latest Stock Analysis on CL
About Colgate-Palmolive
(
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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