CLARET ASSET MANAGEMENT Corp trimmed its stake in Colgate-Palmolive (NYSE:CL) by 27.5% during the third quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 2,954 shares of the company’s stock after selling 1,118 shares during the period. CLARET ASSET MANAGEMENT Corp’s holdings in Colgate-Palmolive were worth $217,000 at the end of the most recent reporting period.
Several other hedge funds also recently modified their holdings of the stock. Horizon Investments LLC acquired a new stake in shares of Colgate-Palmolive during the 1st quarter worth approximately $211,000. Krane Funds Advisors LLC acquired a new stake in shares of Colgate-Palmolive during the 2nd quarter worth approximately $25,000. Investec Asset Management North America Inc. grew its holdings in shares of Colgate-Palmolive by 12.4% during the 2nd quarter. Investec Asset Management North America Inc. now owns 8,830 shares of the company’s stock worth $633,000 after purchasing an additional 972 shares in the last quarter. Manning & Napier Group LLC grew its holdings in shares of Colgate-Palmolive by 1.4% during the 2nd quarter. Manning & Napier Group LLC now owns 656,289 shares of the company’s stock worth $47,035,000 after purchasing an additional 9,351 shares in the last quarter. Finally, Meadow Creek Investment Management LLC grew its holdings in shares of Colgate-Palmolive by 93.0% during the 2nd quarter. Meadow Creek Investment Management LLC now owns 45,100 shares of the company’s stock worth $3,232,000 after purchasing an additional 21,736 shares in the last quarter. 75.95% of the stock is currently owned by institutional investors and hedge funds.
Shares of CL stock opened at $70.51 on Friday. The stock’s fifty day simple moving average is $72.36 and its 200 day simple moving average is $71.62. The firm has a market cap of $60.60 billion, a price-to-earnings ratio of 24.78, a P/E/G ratio of 4.55 and a beta of 0.75. Colgate-Palmolive has a one year low of $57.41 and a one year high of $76.41.
The business also recently declared a quarterly dividend, which will be paid on Friday, November 15th. Investors of record on Wednesday, October 23rd will be paid a $0.43 dividend. This represents a $1.72 annualized dividend and a yield of 2.44%. The ex-dividend date is Tuesday, October 22nd. Colgate-Palmolive’s dividend payout ratio is 57.91%.
In other Colgate-Palmolive news, insider Prabha Parameswaran sold 5,000 shares of Colgate-Palmolive stock in a transaction on Tuesday, August 6th. The stock was sold at an average price of $69.35, for a total value of $346,750.00. Following the completion of the transaction, the insider now owns 20,893 shares in the company, valued at approximately $1,448,929.55. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CFO Henning I. Jakobsen sold 33,854 shares of Colgate-Palmolive stock in a transaction on Wednesday, July 31st. The shares were sold at an average price of $73.45, for a total value of $2,486,576.30. Following the completion of the transaction, the chief financial officer now owns 73,693 shares of the company’s stock, valued at approximately $5,412,750.85. The disclosure for this sale can be found here. In the last ninety days, insiders sold 569,298 shares of company stock worth $40,930,165. 1.14% of the stock is owned by insiders.
Several brokerages have recently weighed in on CL. Morgan Stanley lifted their price objective on Colgate-Palmolive from $72.00 to $74.00 and gave the stock an “equal weight” rating in a report on Monday, July 29th. Wells Fargo & Co lifted their price objective on Colgate-Palmolive from $68.00 to $70.00 and gave the stock a “market perform” rating in a report on Monday, July 29th. Citigroup lifted their price objective on Colgate-Palmolive from $77.00 to $79.00 and gave the stock a “neutral” rating in a report on Tuesday, August 20th. UBS Group lifted their price objective on Colgate-Palmolive from $80.00 to $82.00 and gave the stock a “buy” rating in a report on Monday, July 29th. Finally, Piper Jaffray Companies began coverage on Colgate-Palmolive in a report on Tuesday, August 13th. They set an “overweight” rating on the stock. One research analyst has rated the stock with a sell rating, eleven have given a hold rating and six have assigned a buy rating to the stock. The company has an average rating of “Hold” and an average target price of $74.07.
Colgate-Palmolive Company, together with its subsidiaries, manufactures and sells consumer products worldwide. The company operates through two segments, Oral, Personal and Home Care; and Pet Nutrition. It offers oral care products, including toothpastes, toothbrushes, and mouthwashes, as well as pharmaceutical products for dentists and other oral health professionals; and personal care products, such as liquid hand soaps, bar soaps, shower gels, deodorants and antiperspirants, skin care products, and shampoos and conditioners.
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