OneAscent Wealth Management LLC Takes Position in Colgate-Palmolive (NYSE:CL)

OneAscent Wealth Management LLC acquired a new stake in Colgate-Palmolive (NYSE:CL) during the third quarter, according to its most recent filing with the SEC. The firm acquired 3,576 shares of the company’s stock, valued at approximately $371,000.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. E Fund Management Hong Kong Co. Ltd. purchased a new stake in shares of Colgate-Palmolive in the second quarter valued at about $25,000. Continuum Advisory LLC boosted its holdings in Colgate-Palmolive by 46.5% in the 2nd quarter. Continuum Advisory LLC now owns 394 shares of the company’s stock valued at $38,000 after purchasing an additional 125 shares in the last quarter. Reston Wealth Management LLC acquired a new position in Colgate-Palmolive during the 3rd quarter worth approximately $42,000. Capital Performance Advisors LLP purchased a new position in shares of Colgate-Palmolive during the 3rd quarter worth approximately $53,000. Finally, Gradient Investments LLC lifted its holdings in shares of Colgate-Palmolive by 150.4% in the 2nd quarter. Gradient Investments LLC now owns 666 shares of the company’s stock valued at $65,000 after buying an additional 400 shares during the period. 80.41% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several research analysts have issued reports on CL shares. Morgan Stanley increased their price objective on Colgate-Palmolive from $103.00 to $111.00 and gave the stock an “overweight” rating in a research report on Monday, July 29th. Barclays boosted their price objective on shares of Colgate-Palmolive from $91.00 to $96.00 and gave the stock an “equal weight” rating in a report on Monday, July 29th. UBS Group increased their target price on shares of Colgate-Palmolive from $119.00 to $122.00 and gave the company a “buy” rating in a report on Wednesday, September 4th. Piper Sandler assumed coverage on Colgate-Palmolive in a research note on Tuesday, September 24th. They set an “overweight” rating and a $121.00 price target on the stock. Finally, Jefferies Financial Group downgraded Colgate-Palmolive from a “buy” rating to a “hold” rating and dropped 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 given a hold rating and thirteen have issued a buy rating to the company. Based on data from MarketBeat.com, Colgate-Palmolive presently has an average rating of “Moderate Buy” and a consensus price target of $105.11.

Insider Activity at Colgate-Palmolive

In other news, Director Martina Hundmejean sold 2,313 shares of the firm’s 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 transaction, the director now owns 11,755 shares of the company’s stock, valued at approximately $1,220,874.30. This trade represents a 16.44 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CFO Stanley J. Sutula III sold 45,410 shares of the business’s stock in a transaction dated Tuesday, November 5th. The stock was sold at an average price of $94.11, for a total value of $4,273,535.10. Following the transaction, the chief financial officer now owns 36,726 shares in the company, valued at approximately $3,456,283.86. This represents a 55.29 % decrease in their position. The disclosure for this sale can be found here. 0.34% of the stock is owned by insiders.

Colgate-Palmolive Price Performance

Shares of NYSE:CL opened at $94.65 on Tuesday. The business has a fifty day simple moving average of $99.06 and a 200-day simple moving average of $98.55. Colgate-Palmolive has a 52 week low of $75.17 and a 52 week high of $109.30. The company has a market cap 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. The company has a quick ratio of 0.68, a current ratio of 1.04 and a debt-to-equity ratio of 9.46.

Colgate-Palmolive Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, November 15th. Stockholders of record on Friday, October 18th were issued a dividend of $0.50 per share. 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 payout ratio is currently 57.31%.

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.