Colgate-Palmolive (NYSE:CL) Position Lifted by Empowered Funds LLC

Empowered Funds LLC raised its stake in Colgate-Palmolive (NYSE:CL) by 22.5% in the 3rd quarter, according to its most recent filing with the SEC. The fund owned 69,602 shares of the company’s stock after purchasing an additional 12,797 shares during the period. Empowered Funds LLC’s holdings in Colgate-Palmolive were worth $7,225,000 as of its most recent SEC filing.

Other institutional investors have also modified their holdings of the company. Empirical Finance LLC increased its holdings in shares of Colgate-Palmolive by 2.2% in the 3rd quarter. Empirical Finance LLC now owns 28,845 shares of the company’s stock valued at $2,994,000 after acquiring an additional 632 shares during the last quarter. Balboa Wealth Partners bought a new stake in Colgate-Palmolive during the third quarter valued at $226,000. OneDigital Investment Advisors LLC raised its holdings in shares of Colgate-Palmolive by 23.8% during the third quarter. OneDigital Investment Advisors LLC now owns 14,829 shares of the company’s stock worth $1,539,000 after purchasing an additional 2,847 shares during the period. Metis Global Partners LLC lifted its position in shares of Colgate-Palmolive by 13.1% in the 3rd quarter. Metis Global Partners LLC now owns 28,671 shares of the company’s stock worth $2,976,000 after buying an additional 3,320 shares during the last quarter. Finally, Huntington National Bank boosted its holdings in shares of Colgate-Palmolive by 10.3% in the 3rd quarter. Huntington National Bank now owns 172,829 shares of the company’s stock valued at $17,941,000 after buying an additional 16,121 shares during the period. Institutional investors and hedge funds own 80.41% of the company’s stock.

Insider Buying and Selling

In other news, CFO Stanley J. Sutula III sold 45,410 shares of the business’s stock in a transaction on Tuesday, November 5th. The stock was sold at an average price of $94.11, for a total transaction of $4,273,535.10. Following the sale, the chief financial officer now directly owns 36,726 shares of the company’s stock, valued at $3,456,283.86. The trade was a 55.29 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Martina Hundmejean sold 2,313 shares of the stock in a transaction on Friday, August 23rd. The shares were sold at an average price of $103.86, for a total value of $240,228.18. Following the completion of the transaction, the director now owns 11,755 shares of the company’s stock, valued at $1,220,874.30. This trade represents a 16.44 % decrease in their position. The disclosure for this sale can be found here. Insiders own 0.34% of the company’s stock.

Colgate-Palmolive Price Performance

NYSE:CL opened at $93.56 on Friday. The company has a quick ratio of 0.68, a current ratio of 1.04 and a debt-to-equity ratio of 9.46. The business’s 50-day moving average price is $99.31 and its 200 day moving average price is $98.49. Colgate-Palmolive has a 52-week low of $75.17 and a 52-week high of $109.30. The firm has a market cap of $76.44 billion, a P/E ratio of 26.81, a PEG ratio of 3.25 and a beta of 0.42.

Colgate-Palmolive Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, November 15th. Stockholders of record on Friday, October 18th were paid a $0.50 dividend. The ex-dividend date of this dividend was Friday, October 18th. This represents a $2.00 annualized dividend and a dividend yield of 2.14%. Colgate-Palmolive’s dividend payout ratio is currently 57.31%.

Analyst Upgrades and Downgrades

CL has been the topic of several research reports. Piper Sandler assumed coverage on shares of Colgate-Palmolive in a research note on Tuesday, September 24th. They set an “overweight” rating and a $121.00 price objective on the stock. Deutsche Bank Aktiengesellschaft cut Colgate-Palmolive from a “buy” rating to a “hold” rating and increased their price target for the stock from $107.00 to $109.00 in a research report on Monday, September 9th. StockNews.com upgraded Colgate-Palmolive from a “hold” rating to a “buy” rating in a research report on Thursday. HSBC reaffirmed a “hold” rating on shares of Colgate-Palmolive in a research report on Friday, July 26th. Finally, JPMorgan Chase & Co. boosted their price target on shares of Colgate-Palmolive from $113.00 to $114.00 and gave the company an “overweight” rating in a report on Friday, October 11th. One analyst has rated the stock with a sell rating, nine have given a hold rating and thirteen have issued a buy rating to the company. According to MarketBeat, Colgate-Palmolive currently has a consensus rating of “Moderate Buy” and an average target price of $105.11.

About Colgate-Palmolive

Colgate-Palmolive Company, together with its subsidiaries, manufactures and sells consumer products in the United States and internationally. It 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.