First Horizon Advisors Inc. Raises Stake in Colgate-Palmolive (NYSE:CL)

First Horizon Advisors Inc. increased its stake in Colgate-Palmolive (NYSE:CL) by 13.7% during the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 17,132 shares of the company’s stock after buying an additional 2,064 shares during the period. First Horizon Advisors Inc.’s holdings in Colgate-Palmolive were worth $1,779,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also added to or reduced their stakes in CL. E Fund Management Hong Kong Co. Ltd. bought a new position in Colgate-Palmolive in the 2nd quarter worth about $25,000. Continuum Advisory LLC lifted its stake in shares of Colgate-Palmolive by 46.5% in the second quarter. Continuum Advisory LLC now owns 394 shares of the company’s stock worth $38,000 after buying an additional 125 shares in the last quarter. Reston Wealth Management LLC bought a new stake in shares of Colgate-Palmolive during the third quarter valued at approximately $42,000. Capital Performance Advisors LLP purchased a new position in Colgate-Palmolive in the 3rd quarter worth approximately $53,000. Finally, Prospera Private Wealth LLC purchased a new stake in Colgate-Palmolive during the 3rd quarter valued at $64,000. Hedge funds and other institutional investors own 80.41% of the company’s stock.

Insider Activity at Colgate-Palmolive

In other news, CFO Stanley J. Sutula III sold 45,410 shares of the business’s stock in a transaction dated Tuesday, November 5th. The shares were sold at an average price of $94.11, for a total value of $4,273,535.10. Following the sale, the chief financial officer now directly owns 36,726 shares in the company, valued at $3,456,283.86. The trade was a 55.29 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Martina Hundmejean sold 2,313 shares of the business’s stock in a transaction that occurred on Friday, August 23rd. The stock was sold at an average price of $103.86, for a total value of $240,228.18. Following 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 disclosure for this sale can be found here. 0.34% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

A number of research analysts have recently issued reports on the company. Redburn Atlantic raised Colgate-Palmolive to a “hold” rating in a report on Thursday, August 1st. Hsbc Global Res lowered shares of Colgate-Palmolive from a “strong-buy” rating to a “hold” rating in a research note on Friday, July 26th. Deutsche Bank Aktiengesellschaft cut shares of Colgate-Palmolive from a “buy” rating to a “hold” rating and boosted their price objective for the company from $107.00 to $109.00 in a report on Monday, September 9th. Barclays lifted their target price on shares of Colgate-Palmolive from $91.00 to $96.00 and gave the stock an “equal weight” rating in a research report on Monday, July 29th. Finally, Piper Sandler initiated coverage on Colgate-Palmolive in a research note on Tuesday, September 24th. They issued an “overweight” rating and a $121.00 price target on the stock. One investment analyst has rated the stock with a sell rating, nine have issued a hold rating and thirteen have issued a buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $105.11.

Colgate-Palmolive Trading Up 0.3 %

Shares of Colgate-Palmolive stock opened at $93.91 on Thursday. Colgate-Palmolive has a fifty-two week low of $75.39 and a fifty-two week high of $109.30. The company has a debt-to-equity ratio of 9.46, a quick ratio of 0.68 and a current ratio of 1.04. The company has a market capitalization of $76.73 billion, a P/E 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 200 day moving average of $98.52.

Colgate-Palmolive Dividend Announcement

The firm also recently announced 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 2.13%. The ex-dividend date was Friday, October 18th. Colgate-Palmolive’s dividend payout ratio is currently 57.31%.

About Colgate-Palmolive

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.