Advisors Asset Management Inc. Grows Stock Holdings in Colgate-Palmolive (NYSE:CL)

Advisors Asset Management Inc. grew its holdings in Colgate-Palmolive (NYSE:CL) by 35.0% during the third quarter, HoldingsChannel reports. The firm owned 64,264 shares of the company’s stock after acquiring an additional 16,661 shares during the period. Advisors Asset Management Inc.’s holdings in Colgate-Palmolive were worth $6,671,000 at the end of the most recent reporting period.

A number of other institutional investors have also bought and sold shares of CL. E Fund Management Hong Kong Co. Ltd. purchased a new stake in shares of Colgate-Palmolive during the 2nd quarter valued at approximately $25,000. Continuum Advisory LLC raised its position in shares of Colgate-Palmolive by 46.5% during the 2nd quarter. Continuum Advisory LLC now owns 394 shares of the company’s stock valued at $38,000 after buying an additional 125 shares during the period. Reston Wealth Management LLC purchased a new stake in shares of Colgate-Palmolive during the 3rd quarter valued at approximately $42,000. Capital Performance Advisors LLP purchased a new stake in shares of Colgate-Palmolive during the 3rd quarter valued at approximately $53,000. Finally, Prospera Private Wealth LLC purchased a new stake in shares of Colgate-Palmolive during the 3rd quarter valued at approximately $64,000. 80.41% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several research firms have recently commented on CL. TD Cowen reduced their price target on shares of Colgate-Palmolive from $115.00 to $110.00 and set a “buy” rating on the stock in a research report on Monday, October 28th. Barclays lifted their price target on shares of Colgate-Palmolive from $91.00 to $96.00 and gave the company an “equal weight” rating in a research report on Monday, July 29th. HSBC reissued a “hold” rating on shares of Colgate-Palmolive in a research report on Friday, July 26th. Redburn Atlantic raised Colgate-Palmolive to a “hold” rating in a research report on Thursday, August 1st. Finally, Sanford C. Bernstein boosted their target price on Colgate-Palmolive from $100.00 to $103.00 and gave the company a “market perform” rating in a research report on Tuesday, July 30th. One research analyst has rated the stock with a sell rating, nine have assigned a hold rating and thirteen have given a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $105.11.

Insider Activity

In other news, Director Martina Hundmejean sold 2,313 shares of the company’s stock in a transaction dated 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 sale, the director now directly owns 11,755 shares of the company’s stock, valued at approximately $1,220,874.30. This represents a 16.44 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Stanley J. Sutula III sold 45,410 shares of the company’s stock in a transaction dated Tuesday, November 5th. The shares were sold at an average price of $94.11, for a total transaction of $4,273,535.10. Following the completion of 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 disclosure for this sale can be found here. Corporate insiders own 0.34% of the company’s stock.

Colgate-Palmolive Stock Performance

NYSE CL opened at $93.91 on Thursday. 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 has a 1 year low of $75.39 and a 1 year high of $109.30. The company has a market capitalization of $76.73 billion, a PE ratio of 26.91, a P/E/G ratio of 3.34 and a beta of 0.42. The company has a fifty day moving average of $98.56 and a two-hundred day moving average of $98.52.

Colgate-Palmolive Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, November 15th. Stockholders of record on Friday, October 18th were issued a $0.50 dividend. The ex-dividend date of this dividend was Friday, October 18th. This represents a $2.00 dividend on an annualized basis and a dividend yield of 2.13%. Colgate-Palmolive’s payout ratio is 57.31%.

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.