Baron Wealth Management LLC Purchases Shares of 2,363 Colgate-Palmolive (NYSE:CL)

Baron Wealth Management LLC purchased a new stake in Colgate-Palmolive (NYSE:CL) during the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund purchased 2,363 shares of the company’s stock, valued at approximately $245,000.

Several other institutional investors have also recently added to or reduced their stakes in the business. Price T Rowe Associates Inc. MD lifted its stake in Colgate-Palmolive by 27.8% in the first quarter. Price T Rowe Associates Inc. MD now owns 41,067,130 shares of the company’s stock valued at $3,698,096,000 after buying an additional 8,933,912 shares during the period. Massachusetts Financial Services Co. MA raised its position in shares of Colgate-Palmolive by 40.7% during the second quarter. Massachusetts Financial Services Co. MA now owns 8,969,498 shares of the company’s stock worth $870,400,000 after purchasing an additional 2,593,313 shares during the period. Legal & General Group Plc raised its position in shares of Colgate-Palmolive by 0.8% during the second quarter. Legal & General Group Plc now owns 7,785,101 shares of the company’s stock worth $755,465,000 after purchasing an additional 61,413 shares during the period. GUARDCAP ASSET MANAGEMENT Ltd raised its position in shares of Colgate-Palmolive by 4.1% during the first quarter. GUARDCAP ASSET MANAGEMENT Ltd now owns 6,987,454 shares of the company’s stock worth $629,220,000 after purchasing an additional 278,150 shares during the period. Finally, Acadian Asset Management LLC raised its position in shares of Colgate-Palmolive by 108.4% during the second quarter. Acadian Asset Management LLC now owns 5,682,280 shares of the company’s stock worth $551,367,000 after purchasing an additional 2,955,442 shares during the period. 80.41% of the stock is owned by institutional investors and hedge funds.

Colgate-Palmolive Stock Up 1.2 %

CL stock opened at $94.65 on Tuesday. Colgate-Palmolive has a 1-year low of $75.17 and a 1-year high of $109.30. The business has a fifty day moving average price of $99.06 and a 200-day moving average price of $98.55. The company has a debt-to-equity ratio of 9.46, a current ratio of 1.04 and a quick ratio of 0.68. The stock has a market capitalization of $77.33 billion, a P/E ratio of 27.12, a P/E/G ratio of 3.34 and a beta of 0.42.

Colgate-Palmolive Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, November 15th. Investors of record on Friday, October 18th were issued a $0.50 dividend. This represents a $2.00 annualized dividend and a dividend yield of 2.11%. The ex-dividend date of this dividend was Friday, October 18th. Colgate-Palmolive’s payout ratio is currently 57.31%.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently weighed in on CL shares. Morgan Stanley upped their target price on Colgate-Palmolive from $103.00 to $111.00 and gave the stock an “overweight” rating in a research report on Monday, July 29th. Sanford C. Bernstein upped their price target on Colgate-Palmolive from $100.00 to $103.00 and gave the stock a “market perform” rating in a report on Tuesday, July 30th. Wells Fargo & Company decreased their price target on Colgate-Palmolive from $100.00 to $92.00 and set an “underweight” rating for the company in a report on Monday, October 28th. Hsbc Global Res downgraded Colgate-Palmolive from a “strong-buy” rating to a “hold” rating in a research note on Friday, July 26th. Finally, Jefferies Financial Group downgraded Colgate-Palmolive from a “buy” rating to a “hold” rating and reduced their price objective for the company from $103.00 to $95.00 in a research note on Wednesday, July 24th. One research analyst has rated the stock with a sell rating, nine have assigned a hold rating and thirteen have assigned a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $105.11.

Insider Buying and Selling

In other Colgate-Palmolive news, Director Martina Hundmejean sold 2,313 shares of the business’s stock in a transaction dated Friday, August 23rd. The stock was sold at an average price of $103.86, for a total transaction of $240,228.18. Following the completion of the sale, the director now owns 11,755 shares of the company’s stock, valued at approximately $1,220,874.30. The trade was a 16.44 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CFO Stanley J. Sutula III sold 45,410 shares of the business’s stock in a transaction dated Tuesday, November 5th. The shares were sold at an average price of $94.11, for a total value of $4,273,535.10. Following the completion of the transaction, the chief financial officer now owns 36,726 shares in the company, valued at $3,456,283.86. The trade was a 55.29 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.34% of the stock is currently owned by corporate insiders.

Colgate-Palmolive Profile

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.