Pinnacle Associates Ltd. Has $8.96 Million Stock Holdings in Colgate-Palmolive (NYSE:CL)

Pinnacle Associates Ltd. grew its holdings in Colgate-Palmolive (NYSE:CL) by 2.3% in the third quarter, HoldingsChannel reports. The institutional investor owned 86,312 shares of the company’s stock after acquiring an additional 1,934 shares during the period. Pinnacle Associates Ltd.’s holdings in Colgate-Palmolive were worth $8,960,000 at the end of the most recent reporting period.

Other hedge funds also recently made changes to their positions in the company. Diversify Advisory Services LLC acquired a new position in shares of Colgate-Palmolive in the 1st quarter valued at $911,000. TD Asset Management Inc raised its stake in shares of Colgate-Palmolive by 2.4% in the 1st quarter. TD Asset Management Inc now owns 1,154,566 shares of the company’s stock valued at $103,969,000 after buying an additional 26,987 shares in the last quarter. Empowered Funds LLC raised its stake in shares of Colgate-Palmolive by 277.3% in the 1st quarter. Empowered Funds LLC now owns 33,082 shares of the company’s stock valued at $2,979,000 after buying an additional 24,314 shares in the last quarter. M&G Plc acquired a new stake in shares of Colgate-Palmolive during the 1st quarter worth about $3,812,000. Finally, Sei Investments Co. increased its position in shares of Colgate-Palmolive by 41.5% during the 1st quarter. Sei Investments Co. now owns 598,639 shares of the company’s stock worth $53,901,000 after purchasing an additional 175,445 shares in the last quarter. Institutional investors and hedge funds own 80.41% of the company’s stock.

Colgate-Palmolive Stock Down 0.0 %

Shares of NYSE CL opened at $94.69 on Thursday. The firm has a market capitalization of $77.69 billion, a PE ratio of 29.97, a price-to-earnings-growth ratio of 3.54 and a beta of 0.40. The company has a current ratio of 1.06, a quick ratio of 0.70 and a debt-to-equity ratio of 16.90. Colgate-Palmolive has a 1 year low of $73.97 and a 1 year high of $109.30. The firm’s 50-day moving average is $102.69 and its 200-day moving average is $98.17.

Colgate-Palmolive Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, November 15th. Investors of record on Friday, October 18th will be given a $0.50 dividend. The ex-dividend date is Friday, October 18th. This represents a $2.00 dividend on an annualized basis and a dividend yield of 2.11%. Colgate-Palmolive’s dividend payout ratio is 63.29%.

Analyst Upgrades and Downgrades

A number of equities research analysts recently issued reports on CL shares. Jefferies Financial Group cut shares of Colgate-Palmolive from a “buy” rating to a “hold” rating and dropped their target price for the stock from $103.00 to $95.00 in a research report on Wednesday, July 24th. Hsbc Global Res cut shares of Colgate-Palmolive from a “strong-buy” rating to a “hold” rating in a research report on Friday, July 26th. Evercore ISI increased their target price on shares of Colgate-Palmolive from $100.00 to $106.00 and gave the stock an “outperform” rating in a research report on Thursday, July 18th. Sanford C. Bernstein increased their target price on shares of Colgate-Palmolive from $100.00 to $103.00 and gave the stock a “market perform” rating in a research report on Tuesday, July 30th. Finally, Bank of America increased their target price on shares of Colgate-Palmolive from $100.00 to $110.00 and gave the stock a “buy” rating in a research report on Wednesday, July 10th. One research analyst has rated the stock with a sell rating, ten have issued a hold rating and twelve have assigned a buy rating to the stock. Based on data from MarketBeat, Colgate-Palmolive presently has a consensus rating of “Hold” and a consensus price target of $105.11.

Insider Activity at Colgate-Palmolive

In related news, EVP Gregory Malcolm sold 10,533 shares of the stock in a transaction that occurred on Tuesday, August 6th. The shares were sold at an average price of $103.10, for a total value of $1,085,952.30. Following the sale, the executive vice president now directly owns 10,377 shares in the company, valued at $1,069,868.70. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. In related news, EVP Gregory Malcolm sold 10,533 shares of the stock in a transaction that occurred on Tuesday, August 6th. The shares were sold at an average price of $103.10, for a total value of $1,085,952.30. Following the sale, the executive vice president now directly owns 10,377 shares in the company, valued at $1,069,868.70. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Sally Massey sold 15,850 shares of the stock in a transaction that occurred on Tuesday, August 6th. The shares were sold at an average price of $103.28, for a total transaction of $1,636,988.00. Following the completion of the sale, the insider now owns 13,942 shares in the company, valued at $1,439,929.76. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 43,490 shares of company stock worth $4,486,063 in the last ninety days. Company insiders own 0.34% of the company’s stock.

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.