LPL Financial LLC lifted its holdings in Colgate-Palmolive (NYSE:CL) by 15.2% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 242,844 shares of the company’s stock after buying an additional 32,048 shares during the quarter. LPL Financial LLC’s holdings in Colgate-Palmolive were worth $18,323,000 at the end of the most recent quarter.
Other institutional investors have also added to or reduced their stakes in the company. Elkhorn Investments LLC raised its holdings in Colgate-Palmolive by 4.5% during the 4th quarter. Elkhorn Investments LLC now owns 17,429 shares of the company’s stock worth $1,246,000 after purchasing an additional 743 shares during the last quarter. Ladenburg Thalmann Financial Services Inc. raised its holdings in Colgate-Palmolive by 1.4% during the 4th quarter. Ladenburg Thalmann Financial Services Inc. now owns 329,914 shares of the company’s stock worth $24,890,000 after purchasing an additional 4,527 shares during the last quarter. Cornerstone Capital Management Holdings LLC. raised its holdings in Colgate-Palmolive by 8.4% during the 4th quarter. Cornerstone Capital Management Holdings LLC. now owns 184,481 shares of the company’s stock worth $13,919,000 after purchasing an additional 14,309 shares during the last quarter. Teachers Advisors LLC raised its holdings in Colgate-Palmolive by 6.0% during the 4th quarter. Teachers Advisors LLC now owns 2,237,892 shares of the company’s stock worth $168,849,000 after purchasing an additional 126,978 shares during the last quarter. Finally, Captrust Financial Advisors bought a new stake in Colgate-Palmolive during the 4th quarter worth about $162,000. 73.87% of the stock is owned by institutional investors and hedge funds.
Colgate-Palmolive (NYSE:CL) opened at $69.62 on Friday. The stock has a market capitalization of $60,940.27, a PE ratio of 30.54, a PEG ratio of 2.58 and a beta of 0.79. Colgate-Palmolive has a 12-month low of $68.19 and a 12-month high of $77.91. The company has a current ratio of 1.36, a quick ratio of 1.00 and a debt-to-equity ratio of 27.02.
The business also recently announced a quarterly dividend, which will be paid on Tuesday, May 15th. Stockholders of record on Friday, April 20th will be given a dividend of $0.42 per share. This is a positive change from Colgate-Palmolive’s previous quarterly dividend of $0.40. This represents a $1.68 annualized dividend and a dividend yield of 2.41%. The ex-dividend date is Thursday, April 19th. Colgate-Palmolive’s payout ratio is presently 70.18%.
In related news, insider Daniel B. Marsili sold 5,692 shares of the business’s stock in a transaction that occurred on Wednesday, February 21st. The stock was sold at an average price of $70.19, for a total value of $399,521.48. Following the completion of the transaction, the insider now directly owns 41,677 shares in the company, valued at approximately $2,925,308.63. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Jennifer Daniels sold 902 shares of the business’s stock in a transaction that occurred on Tuesday, January 9th. The shares were sold at an average price of $75.82, for a total value of $68,389.64. Following the completion of the transaction, the insider now owns 37,788 shares of the company’s stock, valued at $2,865,086.16. The disclosure for this sale can be found here. Insiders have sold a total of 455,707 shares of company stock valued at $32,443,427 over the last 90 days. Corporate insiders own 1.02% of the company’s stock.
Several brokerages have weighed in on CL. Barclays set a $75.00 price objective on Colgate-Palmolive and gave the stock a “hold” rating in a report on Thursday. Citigroup boosted their price objective on Colgate-Palmolive from $75.00 to $80.00 and gave the stock a “neutral” rating in a report on Tuesday, January 30th. BNP Paribas cut Colgate-Palmolive from an “outperform” rating to an “underperform” rating in a report on Tuesday, January 30th. Jefferies Group reissued a “hold” rating and set a $79.00 price objective on shares of Colgate-Palmolive in a report on Friday, January 26th. Finally, Zacks Investment Research raised Colgate-Palmolive from a “hold” rating to a “buy” rating and set a $83.00 price objective for the company in a report on Tuesday, January 16th. Three analysts have rated the stock with a sell rating, eleven have assigned a hold rating and five have given a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and an average price target of $77.71.
Colgate-Palmolive Company Profile
Colgate-Palmolive Company (Colgate) is a consumer products company. The Company operates in two product segments: Oral, Personal and Home Care, and Pet Nutrition. The Oral, Personal and Home Care product segment is operated through five geographic segments, which include North America, Latin America, Europe, Asia Pacific and Africa/Eurasia.
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