Griffin Asset Management Inc. boosted its stake in shares of Colgate-Palmolive (NYSE:CL – Get Rating) by 3.0% during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 16,875 shares of the company’s stock after acquiring an additional 498 shares during the quarter. Griffin Asset Management Inc.’s holdings in Colgate-Palmolive were worth $1,280,000 as of its most recent SEC filing.
Other large investors also recently modified their holdings of the company. Two Sigma Advisers LP increased its holdings in Colgate-Palmolive by 596.2% during the third quarter. Two Sigma Advisers LP now owns 55,000 shares of the company’s stock worth $4,157,000 after buying an additional 47,100 shares during the last quarter. Cetera Advisor Networks LLC boosted its position in shares of Colgate-Palmolive by 1.8% in the third quarter. Cetera Advisor Networks LLC now owns 28,119 shares of the company’s stock valued at $2,125,000 after acquiring an additional 507 shares during the period. Cetera Advisors LLC boosted its position in shares of Colgate-Palmolive by 28.2% in the third quarter. Cetera Advisors LLC now owns 30,390 shares of the company’s stock valued at $2,297,000 after acquiring an additional 6,676 shares during the period. Captrust Financial Advisors boosted its position in shares of Colgate-Palmolive by 24.9% in the third quarter. Captrust Financial Advisors now owns 54,604 shares of the company’s stock valued at $4,127,000 after acquiring an additional 10,894 shares during the period. Finally, Consolidated Planning Corp acquired a new position in Colgate-Palmolive in the third quarter valued at about $79,000. 78.12% of the stock is currently owned by hedge funds and other institutional investors.
Shares of NYSE CL opened at $77.91 on Thursday. Colgate-Palmolive has a 52 week low of $72.20 and a 52 week high of $85.61. The business has a 50-day simple moving average of $77.83 and a two-hundred day simple moving average of $79.10. The company has a quick ratio of 0.67, a current ratio of 1.09 and a debt-to-equity ratio of 10.42. The company has a market cap of $65.28 billion, a P/E ratio of 32.19, a P/E/G ratio of 5.16 and a beta of 0.56.
The business also recently announced a quarterly dividend, which will be paid on Monday, August 15th. Shareholders of record on Thursday, July 21st will be issued a $0.47 dividend. This represents a $1.88 annualized dividend and a yield of 2.41%. The ex-dividend date is Wednesday, July 20th. Colgate-Palmolive’s dividend payout ratio (DPR) is 77.69%.
Colgate-Palmolive announced that its Board of Directors has initiated a stock repurchase plan on Thursday, March 10th that authorizes the company to buyback $5.00 billion in outstanding shares. This buyback authorization authorizes the company to reacquire up to 8.1% of its shares through open market purchases. Shares buyback plans are often a sign that the company’s management believes its shares are undervalued.
A number of research firms recently commented on CL. TheStreet raised Colgate-Palmolive from a “c+” rating to a “b” rating in a research note on Friday, April 29th. StockNews.com downgraded Colgate-Palmolive from a “buy” rating to a “hold” rating in a research note on Wednesday, April 13th. Raymond James started coverage on Colgate-Palmolive in a research note on Thursday, April 7th. They set a “market perform” rating for the company. The Goldman Sachs Group lowered their target price on Colgate-Palmolive from $104.00 to $95.00 in a research note on Tuesday, March 29th. Finally, Stifel Nicolaus lowered their price objective on Colgate-Palmolive from $90.00 to $88.00 in a research note on Wednesday, April 13th. One research analyst has rated the stock with a sell rating, thirteen have assigned a hold rating and two have given a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $84.71.
In other news, VP Philip G. Shotts sold 10,000 shares of the stock in a transaction that occurred on Monday, May 16th. The stock was sold at an average price of $78.52, for a total value of $785,200.00. Following the sale, the vice president now directly owns 46,094 shares in the company, valued at $3,619,300.88. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, CEO Noel R. Wallace sold 50,000 shares of the stock in a transaction that occurred on Monday, June 6th. The stock was sold at an average price of $79.34, for a total value of $3,967,000.00. Following the completion of the sale, the chief executive officer now owns 221,790 shares in the company, valued at $17,596,818.60. The disclosure for this sale can be found here. Insiders sold 79,683 shares of company stock valued at $6,297,119 in the last 90 days. Company insiders own 0.32% of the company’s stock.
Colgate-Palmolive Profile (Get Rating)
Colgate-Palmolive Company, together with its subsidiaries, manufactures and sells consumer products worldwide. The company 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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