Avity Investment Management Inc. raised its stake in shares of Colgate-Palmolive Company (NYSE:CL – Free Report) by 1.7% in the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 352,480 shares of the company’s stock after buying an additional 5,743 shares during the period. Colgate-Palmolive comprises about 2.1% of Avity Investment Management Inc.’s investment portfolio, making the stock its 20th biggest holding. Avity Investment Management Inc.’s holdings in Colgate-Palmolive were worth $32,315,000 as of its most recent filing with the Securities & Exchange Commission.
A number of other hedge funds have also modified their holdings of CL. Vanguard Group Inc. grew its stake in Colgate-Palmolive by 1.2% in the fourth quarter. Vanguard Group Inc. now owns 83,947,987 shares of the company’s stock valued at $6,633,570,000 after purchasing an additional 1,026,985 shares in the last quarter. Geode Capital Management LLC increased its holdings in Colgate-Palmolive by 1.4% in the fourth quarter. Geode Capital Management LLC now owns 22,103,901 shares of the company’s stock worth $1,754,657,000 after buying an additional 304,426 shares during the last quarter. Morgan Stanley raised its position in Colgate-Palmolive by 1.7% during the fourth quarter. Morgan Stanley now owns 19,246,217 shares of the company’s stock valued at $1,520,836,000 after acquiring an additional 323,367 shares in the last quarter. Bank of New York Mellon Corp lifted its stake in Colgate-Palmolive by 172.5% in the first quarter. Bank of New York Mellon Corp now owns 12,521,545 shares of the company’s stock valued at $1,067,211,000 after acquiring an additional 7,927,238 shares during the last quarter. Finally, Norges Bank bought a new stake in Colgate-Palmolive in the fourth quarter worth approximately $861,670,000. 80.41% of the stock is owned by institutional investors and hedge funds.
Colgate-Palmolive Stock Performance
Shares of NYSE CL opened at $93.24 on Friday. Colgate-Palmolive Company has a 12 month low of $74.54 and a 12 month high of $99.33. The company has a market cap of $74.33 billion, a P/E ratio of 37.00, a P/E/G ratio of 4.55 and a beta of 0.33. The business’s 50 day moving average is $91.13 and its two-hundred day moving average is $89.74. The company has a quick ratio of 0.30, a current ratio of 1.03 and a debt-to-equity ratio of 13.82.
Colgate-Palmolive Announces Dividend
The business also recently disclosed a quarterly dividend, which will be paid on Friday, August 14th. Stockholders of record on Monday, July 20th will be given a dividend of $0.53 per share. The ex-dividend date of this dividend is Monday, July 20th. This represents a $2.12 dividend on an annualized basis and a dividend yield of 2.3%. Colgate-Palmolive’s dividend payout ratio is currently 84.13%.
Analyst Upgrades and Downgrades
Several research firms recently issued reports on CL. The Goldman Sachs Group reaffirmed a “buy” rating on shares of Colgate-Palmolive in a research note on Friday, May 1st. Sanford C. Bernstein initiated coverage on Colgate-Palmolive in a report on Thursday, June 11th. They set a “market perform” rating and a $96.00 target price on the stock. TD Cowen boosted their price target on Colgate-Palmolive from $85.00 to $90.00 and gave the stock a “hold” rating in a research report on Monday, August 3rd. Barclays increased their price objective on Colgate-Palmolive from $80.00 to $87.00 and gave the company an “equal weight” rating in a report on Tuesday, July 21st. Finally, Citigroup boosted their target price on Colgate-Palmolive from $105.00 to $110.00 and gave the stock a “buy” rating in a report on Tuesday, July 14th. Twelve equities research analysts have rated the stock with a Buy rating and seven have given a Hold rating to the company’s stock. Based on data from MarketBeat, Colgate-Palmolive has a consensus rating of “Moderate Buy” and a consensus target price of $99.00.
Get Our Latest Stock Report on Colgate-Palmolive
Insider Transactions at Colgate-Palmolive
In related news, Director John T. Cahill sold 4,170 shares of the stock in a transaction dated Thursday, August 6th. The shares were sold at an average price of $93.37, for a total value of $389,352.90. Following the completion of the sale, the director owned 28,373 shares in the company, valued at approximately $2,649,187.01. This trade represents a 12.81% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Noel R. Wallace sold 161,021 shares of Colgate-Palmolive stock in a transaction dated Tuesday, August 4th. The stock was sold at an average price of $91.92, for a total value of $14,801,050.32. Following the sale, the chief executive officer directly owned 362,231 shares in the company, valued at approximately $33,296,273.52. This trade represents a 30.77% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The sale was made to cover tax withholding obligations related to the vesting of equity awards. 0.43% of the stock is currently owned by corporate insiders.
Colgate-Palmolive Profile
Colgate-Palmolive Company is a global consumer products company with a long history in household and personal care categories. The business traces its roots to the early 19th century and has evolved into a multinational manufacturer and marketer of everyday consumer goods focused on health, hygiene and home care.
The company’s core activities center on oral care, personal care, home care and pet nutrition. Its product portfolio includes toothpaste, toothbrushes and mouthwash in oral care; soaps, body washes and deodorants in personal care; dishwashing liquids, surface cleaners and other household products in home care; and scientifically formulated pet foods under its pet nutrition business.
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