ClearAlpha Technologies LP Reduces Stock Position in Colgate-Palmolive (NYSE:CL)

ClearAlpha Technologies LP reduced its position in shares of Colgate-Palmolive (NYSE:CL) by 38.6% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 23,705 shares of the company’s stock after selling 14,877 shares during the period. Colgate-Palmolive accounts for about 0.7% of ClearAlpha Technologies LP’s investment portfolio, making the stock its 24th largest position. ClearAlpha Technologies LP’s holdings in Colgate-Palmolive were worth $2,461,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also modified their holdings of the company. Main Street Research LLC lifted its position in Colgate-Palmolive by 1.5% during 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 lifted its holdings in shares of Colgate-Palmolive by 4.5% during the 2nd quarter. Advisor OS LLC now owns 2,348 shares of the company’s stock worth $228,000 after acquiring an additional 101 shares during the period. BLB&B Advisors LLC raised its position in shares of Colgate-Palmolive by 2.5% in the 2nd quarter. BLB&B Advisors LLC now owns 4,337 shares of the company’s stock worth $421,000 after buying an additional 104 shares during the period. D Orazio & Associates Inc. boosted its holdings in Colgate-Palmolive by 3.9% in the third quarter. D Orazio & Associates Inc. now owns 2,862 shares of the company’s stock valued at $297,000 after acquiring an additional 108 shares during the last quarter. Finally, ZWJ Investment Counsel Inc. grew its position in Colgate-Palmolive by 3.1% during the second quarter. ZWJ Investment Counsel Inc. now owns 3,591 shares of the company’s stock valued at $349,000 after acquiring an additional 109 shares during the period. 80.41% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

CL has been the topic of a number of research reports. TD Cowen cut their price objective on Colgate-Palmolive from $115.00 to $110.00 and set a “buy” rating on the stock in a report on Monday, October 28th. Wells Fargo & Company decreased their price objective on shares of Colgate-Palmolive from $100.00 to $92.00 and set an “underweight” rating for the company in a research note on Monday, October 28th. Deutsche Bank Aktiengesellschaft lowered Colgate-Palmolive from a “buy” rating to a “hold” rating and boosted their price target for the stock from $107.00 to $109.00 in a research report on Monday, September 9th. UBS Group lifted their price objective on shares of Colgate-Palmolive from $119.00 to $122.00 and gave the company a “buy” rating in a research note on Wednesday, September 4th. Finally, Piper Sandler started coverage on shares of Colgate-Palmolive in a research note on Tuesday, September 24th. They issued an “overweight” rating and a $121.00 target price for the company. One research analyst has rated the stock with a sell rating, nine have given a hold rating and thirteen have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Colgate-Palmolive has an average rating of “Moderate Buy” and a consensus price target of $105.11.

Colgate-Palmolive Trading Down 0.1 %

Shares of NYSE:CL opened at $96.63 on Monday. 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 company’s 50-day moving average price is $97.38 and its 200 day moving average price is $98.64. The company has a market cap of $78.95 billion, a PE ratio of 27.69, a P/E/G ratio of 3.45 and a beta of 0.42. Colgate-Palmolive has a fifty-two week low of $75.50 and a fifty-two week high of $109.30.

Colgate-Palmolive Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, November 15th. Stockholders of record on Friday, October 18th were issued a dividend of $0.50 per share. The ex-dividend date of this dividend was Friday, October 18th. This represents a $2.00 dividend on an annualized basis and a dividend yield of 2.07%. Colgate-Palmolive’s dividend payout ratio (DPR) is presently 57.31%.

Insider Buying and Selling

In other news, CFO Stanley J. Sutula III sold 45,410 shares of the stock in a transaction on 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 completion of the transaction, the chief financial officer now owns 36,726 shares of the company’s stock, valued at approximately $3,456,283.86. This represents a 55.29 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Corporate insiders own 0.34% of the company’s stock.

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.