Soltis Investment Advisors LLC Invests $235,000 in Colgate-Palmolive (NYSE:CL)

Soltis Investment Advisors LLC bought a new stake in shares of Colgate-Palmolive (NYSE:CL) in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund bought 2,265 shares of the company’s stock, valued at approximately $235,000.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Envestnet Portfolio Solutions Inc. lifted its position in shares of Colgate-Palmolive by 10.5% during the 2nd quarter. Envestnet Portfolio Solutions Inc. now owns 26,788 shares of the company’s stock valued at $2,599,000 after buying an additional 2,537 shares in the last quarter. Triad Wealth Partners LLC bought a new position in shares of Colgate-Palmolive in the second quarter worth approximately $71,000. Ellsworth Advisors LLC purchased a new stake in shares of Colgate-Palmolive in the second quarter worth $203,000. Blue Trust Inc. raised its position in shares of Colgate-Palmolive by 139.6% during the 2nd quarter. Blue Trust Inc. now owns 1,270 shares of the company’s stock valued at $114,000 after purchasing an additional 740 shares during the period. Finally, Gradient Investments LLC lifted its stake in shares of Colgate-Palmolive by 150.4% during the 2nd quarter. Gradient Investments LLC now owns 666 shares of the company’s stock valued at $65,000 after buying an additional 400 shares in the last quarter. 80.41% of the stock is owned by hedge funds and other institutional investors.

Colgate-Palmolive Stock Performance

Shares of Colgate-Palmolive stock opened at $93.58 on Friday. Colgate-Palmolive has a 52 week low of $75.50 and a 52 week high of $109.30. The company has a market capitalization of $76.46 billion, a PE ratio of 26.81, a price-to-earnings-growth ratio of 3.36 and a beta of 0.43. The stock’s fifty day moving average is $95.97 and its two-hundred day moving average is $98.62. The company has a quick ratio of 0.68, a current ratio of 1.04 and a debt-to-equity ratio of 9.46.

Colgate-Palmolive Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, February 14th. Investors of record on Tuesday, January 21st will be paid a $0.50 dividend. This represents a $2.00 annualized dividend and a yield of 2.14%. The ex-dividend date is Tuesday, January 21st. Colgate-Palmolive’s dividend payout ratio is presently 57.31%.

Analysts Set New Price Targets

CL has been the topic of several research analyst reports. Piper Sandler initiated coverage on Colgate-Palmolive in a research report on Tuesday, September 24th. They issued an “overweight” rating and a $121.00 price objective on the stock. Deutsche Bank Aktiengesellschaft cut shares of Colgate-Palmolive from a “buy” rating to a “hold” rating and boosted their price target for the stock from $107.00 to $109.00 in a research report on Monday, September 9th. UBS Group upped their price target on shares of Colgate-Palmolive from $119.00 to $122.00 and gave the company a “buy” rating in a research note on Wednesday, September 4th. Wells Fargo & Company dropped 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 note on Monday, October 28th. Finally, Stifel Nicolaus cut shares of Colgate-Palmolive from a “buy” rating to a “hold” rating and decreased their target price for the company from $105.00 to $101.00 in a research report on Monday, October 28th. One investment analyst has rated the stock with a sell rating, nine have issued a hold rating and thirteen have issued a buy rating to the company. According to data from MarketBeat, Colgate-Palmolive has an average rating of “Moderate Buy” and a consensus target price of $105.11.

Insider Activity at Colgate-Palmolive

In other news, CFO Stanley J. Sutula III sold 45,410 shares of Colgate-Palmolive stock in a transaction that occurred 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 sale, the chief financial officer now owns 36,726 shares of the company’s stock, valued at approximately $3,456,283.86. The trade was a 55.29 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. 0.37% of the stock is currently owned by company insiders.

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.