L & S Advisors Inc Makes New $4.30 Million Investment in Colgate-Palmolive (NYSE:CL)

L & S Advisors Inc acquired a new position in Colgate-Palmolive (NYSE:CL) in the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm acquired 41,373 shares of the company’s stock, valued at approximately $4,295,000.

Several other institutional investors have also recently modified their holdings of the company. E Fund Management Hong Kong Co. Ltd. acquired a new stake in Colgate-Palmolive in the second quarter valued at approximately $25,000. Continuum Advisory LLC raised its position in Colgate-Palmolive by 46.5% in the second quarter. Continuum Advisory LLC now owns 394 shares of the company’s stock valued at $38,000 after purchasing an additional 125 shares during the period. Reston Wealth Management LLC purchased a new stake in shares of Colgate-Palmolive in the 3rd quarter valued at $42,000. Capital Performance Advisors LLP purchased a new stake in Colgate-Palmolive during the 3rd quarter worth about $53,000. Finally, Prospera Private Wealth LLC purchased a new stake in Colgate-Palmolive during the 3rd quarter worth about $64,000. 80.41% of the stock is currently owned by hedge funds and other institutional investors.

Colgate-Palmolive Price Performance

CL stock opened at $93.91 on Thursday. Colgate-Palmolive has a 52-week low of $75.39 and a 52-week high of $109.30. The stock’s fifty day simple moving average is $98.56 and its 200-day simple moving average is $98.52. The company has a quick ratio of 0.68, a current ratio of 1.04 and a debt-to-equity ratio of 9.46. The stock has a market capitalization of $76.73 billion, a price-to-earnings ratio of 26.91, a price-to-earnings-growth ratio of 3.34 and a beta of 0.42.

Colgate-Palmolive Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, November 15th. Investors of record on Friday, October 18th were issued a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a yield of 2.13%. The ex-dividend date was Friday, October 18th. Colgate-Palmolive’s payout ratio is currently 57.31%.

Insider Activity at Colgate-Palmolive

In other news, Director Martina Hundmejean sold 2,313 shares of Colgate-Palmolive stock in a transaction dated Friday, August 23rd. The stock was sold at an average price of $103.86, for a total transaction of $240,228.18. Following the sale, the director now directly owns 11,755 shares of the company’s stock, valued at approximately $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 Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Stanley J. Sutula III sold 45,410 shares of Colgate-Palmolive stock in a transaction dated Tuesday, November 5th. The stock was 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 approximately $3,456,283.86. The trade was a 55.29 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.34% of the stock is owned by insiders.

Analyst Ratings Changes

Several equities research analysts have weighed in on CL shares. Wells Fargo & Company cut their price target on Colgate-Palmolive from $100.00 to $92.00 and set an “underweight” rating on the stock in a report on Monday, October 28th. Sanford C. Bernstein upped their price objective on Colgate-Palmolive from $100.00 to $103.00 and gave the stock a “market perform” rating in a research report on Tuesday, July 30th. Piper Sandler started coverage on Colgate-Palmolive in a research report on Tuesday, September 24th. They issued an “overweight” rating and a $121.00 target price for the company. Jefferies Financial Group cut 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 research report on Wednesday, July 24th. Finally, 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 research report on Monday, September 9th. One research 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, the stock currently has an average rating of “Moderate Buy” and an average target price of $105.11.

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.