Colgate-Palmolive (NYSE:CL) Shares Bought by Chesapeake Wealth Management

Chesapeake Wealth Management grew its holdings in Colgate-Palmolive (NYSE:CL) by 8.3% in the third quarter, according to its most recent disclosure with the SEC. The fund owned 5,227 shares of the company’s stock after buying an additional 400 shares during the period. Chesapeake Wealth Management’s holdings in Colgate-Palmolive were worth $543,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also made changes to their positions in CL. Price T Rowe Associates Inc. MD raised its holdings in shares of 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 last quarter. Swedbank AB purchased a new stake in shares of Colgate-Palmolive in the first quarter valued at about $286,370,000. Acadian Asset Management LLC raised its holdings in shares of Colgate-Palmolive by 108.4% in the second quarter. Acadian Asset Management LLC now owns 5,682,280 shares of the company’s stock valued at $551,367,000 after buying an additional 2,955,442 shares during the last quarter. Massachusetts Financial Services Co. MA raised its holdings in shares of Colgate-Palmolive by 40.7% in the second quarter. Massachusetts Financial Services Co. MA now owns 8,969,498 shares of the company’s stock valued at $870,400,000 after buying an additional 2,593,313 shares during the last quarter. Finally, Ossiam raised its holdings in shares of Colgate-Palmolive by 368.4% in the first quarter. Ossiam now owns 1,563,768 shares of the company’s stock valued at $140,817,000 after buying an additional 1,229,891 shares during the last quarter. 80.41% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In related news, Director Martina Hundmejean sold 2,313 shares of the firm’s stock in a transaction that occurred on Friday, August 23rd. The shares were sold at an average price of $103.86, for a total transaction of $240,228.18. Following the sale, the director now owns 11,755 shares in the company, valued at approximately $1,220,874.30. This trade represents a 16.44 % 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 this hyperlink. Also, CFO Stanley J. Sutula III sold 45,410 shares of the firm’s stock in a transaction that occurred 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 owns 36,726 shares in the company, valued at approximately $3,456,283.86. This trade represents a 55.29 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 0.37% of the company’s stock.

Analysts Set New Price Targets

CL has been the subject of several analyst reports. JPMorgan Chase & Co. increased their price target on shares of Colgate-Palmolive from $113.00 to $114.00 and gave the stock an “overweight” rating in a report on Friday, October 11th. Stifel Nicolaus cut shares of Colgate-Palmolive from a “buy” rating to a “hold” rating and cut their price target for the stock from $105.00 to $101.00 in a report on Monday, October 28th. Sanford C. Bernstein increased their price target on shares of Colgate-Palmolive from $100.00 to $103.00 and gave the stock a “market perform” rating in a report on Tuesday, July 30th. Redburn Atlantic raised shares of Colgate-Palmolive to a “hold” rating in a report on Thursday, August 1st. Finally, Wells Fargo & Company cut their price target on shares of Colgate-Palmolive from $100.00 to $92.00 and set an “underweight” rating for the company in a report on Monday, October 28th. One investment analyst has rated the stock with a sell rating, nine have given a hold rating and thirteen have assigned a buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $105.11.

Colgate-Palmolive Stock Up 1.2 %

CL stock opened at $94.65 on Tuesday. The company’s 50 day simple moving average is $99.06 and its 200-day simple moving average is $98.55. The firm has a market capitalization of $77.33 billion, a PE ratio of 27.12, a P/E/G ratio of 3.34 and a beta of 0.42. Colgate-Palmolive has a 12 month low of $75.17 and a 12 month high of $109.30. The company has a debt-to-equity ratio of 9.46, a current ratio of 1.04 and a quick ratio of 0.68.

Colgate-Palmolive Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, November 15th. Stockholders of record on Friday, October 18th were given 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 2.11%. Colgate-Palmolive’s dividend payout ratio is presently 57.31%.

Colgate-Palmolive Company 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.