Prospector Partners LLC Sells 8,399 Shares of Colgate-Palmolive (NYSE:CL)

Prospector Partners LLC lowered its stake in shares of Colgate-Palmolive (NYSE:CL) by 4.8% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 167,116 shares of the company’s stock after selling 8,399 shares during the period. Colgate-Palmolive accounts for 1.8% of Prospector Partners LLC’s holdings, making the stock its 18th biggest position. Prospector Partners LLC’s holdings in Colgate-Palmolive were worth $17,348,000 as of its most recent filing with the Securities & Exchange Commission.

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

Colgate-Palmolive Price Performance

Shares of NYSE:CL opened at $95.34 on Tuesday. 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 one year low of $75.50 and a one year high of $109.30. The company has a market cap of $77.89 billion, a price-to-earnings ratio of 27.32, a PEG ratio of 3.39 and a beta of 0.42. The firm has a 50 day simple moving average of $97.90 and a 200 day simple moving average of $98.58.

Colgate-Palmolive Announces Dividend

The company 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. This represents a $2.00 annualized dividend and a dividend yield of 2.10%. The ex-dividend date of this dividend was Friday, October 18th. Colgate-Palmolive’s dividend payout ratio is currently 57.31%.

Wall Street Analysts Forecast Growth

CL has been the subject of a number of research analyst reports. Stifel Nicolaus cut Colgate-Palmolive from a “buy” rating to a “hold” rating and reduced their price objective for the stock from $105.00 to $101.00 in a report on Monday, October 28th. UBS Group increased their price objective on Colgate-Palmolive from $119.00 to $122.00 and gave the stock a “buy” rating in a research report on Wednesday, September 4th. StockNews.com raised shares of Colgate-Palmolive from a “hold” rating to a “buy” rating in a research report on Monday. Sanford C. Bernstein lifted their price objective on shares of Colgate-Palmolive from $100.00 to $103.00 and gave the stock a “market perform” rating in a research note on Tuesday, July 30th. Finally, Piper Sandler began coverage on shares of Colgate-Palmolive in a research report on Tuesday, September 24th. They set an “overweight” rating and a $121.00 target price on the stock. One 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. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $105.11.

Insider Buying and Selling

In related news, CFO Stanley J. Sutula III sold 45,410 shares of the firm’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 completion of the transaction, the chief financial officer now directly owns 36,726 shares of the company’s stock, valued at $3,456,283.86. This trade represents a 55.29 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. 0.37% of the stock is 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.