Axxcess Wealth Management LLC boosted its holdings in shares of Colgate-Palmolive (NYSE:CL – Get Rating) by 11.3% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 6,975 shares of the company’s stock after purchasing an additional 707 shares during the period. Axxcess Wealth Management LLC’s holdings in Colgate-Palmolive were worth $559,000 at the end of the most recent quarter.
Several other institutional investors and hedge funds have also added to or reduced their stakes in CL. TCI Wealth Advisors Inc. lifted its position in shares of Colgate-Palmolive by 76.0% in the 2nd quarter. TCI Wealth Advisors Inc. now owns 315 shares of the company’s stock valued at $25,000 after acquiring an additional 136 shares in the last quarter. Better Money Decisions LLC purchased a new stake in Colgate-Palmolive in the 2nd quarter worth approximately $25,000. Core Alternative Capital lifted its position in Colgate-Palmolive by 924.3% in the 1st quarter. Core Alternative Capital now owns 379 shares of the company’s stock worth $29,000 after buying an additional 342 shares in the last quarter. Verity Asset Management Inc. purchased a new stake in Colgate-Palmolive in the 1st quarter worth approximately $29,000. Finally, Investors Asset Management of Georgia Inc. GA ADV purchased a new stake in Colgate-Palmolive in the 2nd quarter worth approximately $35,000. 78.62% of the stock is owned by institutional investors and hedge funds.
Colgate-Palmolive Price Performance
NYSE:CL opened at $76.93 on Thursday. The company has a 50-day moving average of $73.20 and a 200-day moving average of $76.71. The company has a market capitalization of $64.25 billion, a price-to-earnings ratio of 33.45, a PEG ratio of 7.12 and a beta of 0.52. Colgate-Palmolive has a 52 week low of $67.84 and a 52 week high of $85.61. The company has a debt-to-equity ratio of 7.81, a quick ratio of 0.71 and a current ratio of 1.17.
Colgate-Palmolive Announces Dividend
The company also recently declared a quarterly dividend, which was paid on Tuesday, November 15th. Investors of record on Friday, October 21st were issued a dividend of $0.47 per share. This represents a $1.88 annualized dividend and a yield of 2.44%. The ex-dividend date of this dividend was Thursday, October 20th. Colgate-Palmolive’s dividend payout ratio is currently 81.74%.
Analysts Set New Price Targets
A number of research firms have issued reports on CL. Barclays increased their target price on shares of Colgate-Palmolive from $72.00 to $76.00 and gave the stock an “equal weight” rating in a research report on Tuesday, November 1st. Wells Fargo & Company dropped their price target on shares of Colgate-Palmolive from $80.00 to $75.00 and set an “equal weight” rating on the stock in a research note on Monday, October 3rd. UBS Group dropped their price target on shares of Colgate-Palmolive from $90.00 to $80.00 in a research note on Thursday, October 13th. StockNews.com upgraded shares of Colgate-Palmolive from a “hold” rating to a “buy” rating in a research note on Thursday, November 17th. Finally, Credit Suisse Group lowered their target price on shares of Colgate-Palmolive from $88.00 to $85.00 and set an “outperform” rating on the stock in a research note on Tuesday, October 18th. Nine analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $82.42.
Insider Activity at Colgate-Palmolive
In related news, insider Prabha Parameswaran sold 48,778 shares of Colgate-Palmolive stock in a transaction dated Monday, August 29th. The shares were sold at an average price of $78.80, for a total transaction of $3,843,706.40. Following the completion of the transaction, the insider now directly owns 6,787 shares of the company’s stock, valued at approximately $534,815.60. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other Colgate-Palmolive news, insider Sally Massey sold 656 shares of the firm’s stock in a transaction dated Tuesday, September 13th. The shares were sold at an average price of $77.58, for a total value of $50,892.48. Following the completion of the sale, the insider now owns 7,913 shares in the company, valued at approximately $613,890.54. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Prabha Parameswaran sold 48,778 shares of the firm’s stock in a transaction dated Monday, August 29th. The shares were sold at an average price of $78.80, for a total transaction of $3,843,706.40. Following the completion of the sale, the insider now owns 6,787 shares of the company’s stock, valued at approximately $534,815.60. The disclosure for this sale can be found here. 0.32% of the stock is currently owned by insiders.
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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