Prospera Financial Services Inc Raises Holdings in Colgate-Palmolive (NYSE:CL)

Prospera Financial Services Inc boosted its stake in Colgate-Palmolive (NYSE:CL) by 0.9% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 41,742 shares of the company’s stock after purchasing an additional 353 shares during the period. Prospera Financial Services Inc’s holdings in Colgate-Palmolive were worth $4,334,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently bought and sold shares of CL. Main Street Research LLC increased its stake in shares of Colgate-Palmolive by 1.5% in the second quarter. Main Street Research LLC now owns 6,939 shares of the company’s stock worth $673,000 after buying an additional 100 shares during the period. Advisor OS LLC raised its stake in shares of Colgate-Palmolive by 4.5% during the second quarter. Advisor OS LLC now owns 2,348 shares of the company’s stock valued at $228,000 after acquiring an additional 101 shares during the last quarter. BLB&B Advisors LLC boosted its holdings in shares of Colgate-Palmolive by 2.5% during the second quarter. BLB&B Advisors LLC now owns 4,337 shares of the company’s stock worth $421,000 after purchasing an additional 104 shares during the period. D Orazio & Associates Inc. grew its stake in shares of Colgate-Palmolive by 3.9% in the third quarter. D Orazio & Associates Inc. now owns 2,862 shares of the company’s stock worth $297,000 after purchasing an additional 108 shares during the last quarter. Finally, ZWJ Investment Counsel Inc. increased its holdings in Colgate-Palmolive by 3.1% during the 2nd quarter. ZWJ Investment Counsel Inc. now owns 3,591 shares of the company’s stock valued at $349,000 after purchasing an additional 109 shares during the period. Institutional investors own 80.41% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have weighed in on the company. Deutsche Bank Aktiengesellschaft cut Colgate-Palmolive from a “buy” rating to a “hold” rating and increased their price objective for the stock from $107.00 to $109.00 in a report on Monday, September 9th. Morgan Stanley lifted their price target on shares of Colgate-Palmolive from $103.00 to $111.00 and gave the company an “overweight” rating in a report on Monday, July 29th. Jefferies Financial Group lowered shares of Colgate-Palmolive from a “buy” rating to a “hold” rating and decreased their price objective for the stock from $103.00 to $95.00 in a report on Wednesday, July 24th. Piper Sandler started coverage on shares of Colgate-Palmolive in a research note on Tuesday, September 24th. They set an “overweight” rating and a $121.00 target price on the stock. Finally, Barclays boosted 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. One analyst has rated the stock with a sell rating, nine have given a hold rating and thirteen have assigned a buy rating to the stock. Based on data from MarketBeat, Colgate-Palmolive currently has a consensus rating of “Moderate Buy” and an average target price of $105.11.

Colgate-Palmolive Stock Performance

Shares of Colgate-Palmolive stock opened at $93.61 on Wednesday. The stock has a market cap of $76.48 billion, a price-to-earnings ratio of 26.82, a PEG ratio of 3.34 and a beta of 0.42. 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 $75.17 and a 1 year high of $109.30. The firm’s 50-day moving average is $98.80 and its 200 day moving average is $98.56.

Colgate-Palmolive Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, November 15th. Investors of record on Friday, October 18th were given a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a dividend yield of 2.14%. The ex-dividend date of this dividend was Friday, October 18th. Colgate-Palmolive’s dividend payout ratio (DPR) is currently 57.31%.

Insider Buying and Selling

In other news, Director Martina Hundmejean sold 2,313 shares of Colgate-Palmolive stock in a transaction that occurred 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 completion of the sale, the director now directly owns 11,755 shares in the company, valued at $1,220,874.30. The trade was a 16.44 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CFO Stanley J. Sutula III sold 45,410 shares of the firm’s stock in a transaction that occurred 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 sale, the chief financial officer now owns 36,726 shares in the company, valued at $3,456,283.86. This represents a 55.29 % decrease in their position. The disclosure for this sale can be found here. 0.37% of the stock is owned by company 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.