Commerzbank Aktiengesellschaft FI boosted its stake in shares of Colgate-Palmolive Company (NYSE:CL – Free Report) by 203.2% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 102,868 shares of the company’s stock after acquiring an additional 68,938 shares during the quarter. Commerzbank Aktiengesellschaft FI’s holdings in Colgate-Palmolive were worth $9,431,000 as of its most recent SEC filing.
Several other institutional investors and hedge funds also recently made changes to their positions in the company. Kemnay Advisory Services Inc. bought a new stake in shares of Colgate-Palmolive in the 4th quarter worth about $25,000. CBIZ Investment Advisory Services LLC lifted its holdings in Colgate-Palmolive by 86.7% during the 4th quarter. CBIZ Investment Advisory Services LLC now owns 323 shares of the company’s stock valued at $26,000 after purchasing an additional 150 shares during the last quarter. TD Capital Management LLC boosted its position in Colgate-Palmolive by 61.4% in the fourth quarter. TD Capital Management LLC now owns 326 shares of the company’s stock valued at $26,000 after buying an additional 124 shares in the last quarter. Triumph Capital Management grew its stake in Colgate-Palmolive by 62.9% during the fourth quarter. Triumph Capital Management now owns 329 shares of the company’s stock worth $26,000 after buying an additional 127 shares during the last quarter. Finally, Jessup Wealth Management Inc acquired a new stake in shares of Colgate-Palmolive during the fourth quarter worth approximately $26,000. Institutional investors and hedge funds own 80.41% of the company’s stock.
Colgate-Palmolive Trading Down 1.9%
Shares of CL opened at $90.22 on Tuesday. The company has a quick ratio of 0.67, a current ratio of 1.03 and a debt-to-equity ratio of 13.82. Colgate-Palmolive Company has a 12-month low of $74.54 and a 12-month high of $99.33. The firm has a market capitalization of $71.92 billion, a PE ratio of 35.80, a price-to-earnings-growth ratio of 4.48 and a beta of 0.33. The stock’s fifty day simple moving average is $91.76 and its 200-day simple moving average is $90.05.
Colgate-Palmolive Dividend Announcement
The firm also recently announced a quarterly dividend, which was paid on Friday, August 14th. Stockholders of record on Monday, July 20th were paid a $0.53 dividend. This represents a $2.12 annualized dividend and a dividend yield of 2.3%. The ex-dividend date of this dividend was Monday, July 20th. Colgate-Palmolive’s dividend payout ratio (DPR) is 84.13%.
Insider Activity at Colgate-Palmolive
In other Colgate-Palmolive news, CEO Noel R. Wallace sold 161,021 shares of the firm’s stock in a transaction that occurred on Tuesday, August 4th. The shares were sold at an average price of $91.92, for a total value of $14,801,050.32. Following the transaction, the chief executive officer directly owned 362,231 shares of the company’s stock, valued at approximately $33,296,273.52. This trade represents a 30.77% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, Director John T. Cahill sold 4,170 shares of Colgate-Palmolive stock in a transaction on Thursday, August 6th. The stock was sold at an average price of $93.37, for a total transaction of $389,352.90. Following the sale, the director directly owned 28,373 shares of the company’s stock, valued at $2,649,187.01. This represents a 12.81% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. 0.43% of the stock is owned by insiders.
Analyst Ratings Changes
Several research analysts have recently commented on CL shares. Rothschild & Co Redburn set a $100.00 target price on Colgate-Palmolive and gave the stock a “buy” rating in a report on Tuesday, April 21st. Deutsche Bank Aktiengesellschaft reissued a “buy” rating and issued a $101.00 price objective on shares of Colgate-Palmolive in a research note on Monday, August 3rd. Morgan Stanley restated an “overweight” rating and set a $104.00 target price on shares of Colgate-Palmolive in a report on Monday, August 3rd. Barclays lifted their price target 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, Jefferies Financial Group reiterated a “hold” rating on shares of Colgate-Palmolive in a research report on Monday, August 3rd. Twelve investment analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $99.00.
Check Out Our Latest Analysis on CL
Colgate-Palmolive Company 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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