Inverness Counsel LLC NY trimmed its stake in Colgate-Palmolive (NYSE:CL) by 8.2% during the second quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 380,235 shares of the company’s stock after selling 33,858 shares during the period. Inverness Counsel LLC NY’s holdings in Colgate-Palmolive were worth $30,932,000 at the end of the most recent reporting period.
A number of other institutional investors and hedge funds also recently bought and sold shares of CL. Cowen Prime Advisors LLC acquired a new position in shares of Colgate-Palmolive during the 2nd quarter worth about $28,000. Horan Securities Inc. lifted its holdings in shares of Colgate-Palmolive by 60.1% during the second quarter. Horan Securities Inc. now owns 341 shares of the company’s stock worth $28,000 after buying an additional 128 shares during the last quarter. Eagle Bay Advisors LLC bought a new stake in shares of Colgate-Palmolive in the second quarter valued at approximately $32,000. First PREMIER Bank acquired a new stake in shares of Colgate-Palmolive in the second quarter worth $33,000. Finally, Lumature Wealth Partners LLC bought a new position in Colgate-Palmolive during the first quarter worth $59,000. Hedge funds and other institutional investors own 76.28% of the company’s stock.
Shares of NYSE CL traded up $0.24 during trading on Wednesday, hitting $77.54. The stock had a trading volume of 37,566 shares, compared to its average volume of 4,320,278. Colgate-Palmolive has a 12 month low of $74.14 and a 12 month high of $86.41. The firm has a fifty day moving average of $79.95 and a two-hundred day moving average of $80.27. The company has a debt-to-equity ratio of 9.22, a current ratio of 1.11 and a quick ratio of 0.70. The company has a market capitalization of $65.41 billion, a PE ratio of 24.34, a PEG ratio of 3.98 and a beta of 0.60.
The business also recently disclosed a quarterly dividend, which will be paid on Monday, November 15th. Stockholders of record on Thursday, October 21st will be paid a dividend of $0.45 per share. The ex-dividend date of this dividend is Wednesday, October 20th. This represents a $1.80 dividend on an annualized basis and a dividend yield of 2.32%. Colgate-Palmolive’s dividend payout ratio (DPR) is currently 58.82%.
A number of research analysts have recently commented on the stock. Credit Suisse Group raised shares of Colgate-Palmolive from a “neutral” rating to an “outperform” rating and upped their price objective for the company from $80.00 to $95.00 in a research report on Wednesday, June 9th. Deutsche Bank Aktiengesellschaft reduced their price objective on Colgate-Palmolive from $86.00 to $84.00 and set a “hold” rating for the company in a research report on Monday, August 2nd. Evercore ISI reissued a “buy” rating and issued a $95.00 target price on shares of Colgate-Palmolive in a research note on Sunday, June 20th. Finally, UBS Group assumed coverage on shares of Colgate-Palmolive in a research note on Wednesday, June 23rd. They issued a “buy” rating and a $95.00 target price for the company. Two investment analysts have rated the stock with a sell rating, seven have issued a hold rating and three have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $85.54.
In other Colgate-Palmolive news, Director Lorrie M. Norrington sold 1,898 shares of the stock in a transaction dated Wednesday, August 4th. The shares were sold at an average price of $78.02, for a total transaction of $148,081.96. Following the completion of the transaction, the director now owns 24,602 shares of the company’s stock, valued at approximately $1,919,448.04. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Jennifer Daniels sold 20,290 shares of the company’s stock in a transaction that occurred on Thursday, August 5th. The shares were sold at an average price of $79.11, for a total value of $1,605,141.90. The disclosure for this sale can be found here. 0.32% of the stock is currently owned by insiders.
Colgate-Palmolive Co is engaged in the manufacturing and distribution of consumer products. It operates through Oral, Personal and Home Care and Pet Nutrition segments. The Oral, Personal and Home Care segment represents North America, Latin America, Europe, Asia Pacific, and Africa or Eurasia, all of which sell to a variety of retail and wholesale customers and distributors.
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