Hartford Investment Management Co. Lowers Stock Holdings in Colgate-Palmolive (NYSE:CL)

Hartford Investment Management Co. cut its holdings in Colgate-Palmolive (NYSE:CL) by 2.1% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 51,458 shares of the company’s stock after selling 1,115 shares during the quarter. Hartford Investment Management Co.’s holdings in Colgate-Palmolive were worth $5,342,000 as of its most recent SEC filing.

Several other large investors have also made changes to their positions in CL. E Fund Management Hong Kong Co. Ltd. purchased a new position in Colgate-Palmolive in the 2nd quarter valued at about $25,000. Continuum Advisory LLC boosted 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 acquiring an additional 125 shares during the last quarter. Register Financial Advisors LLC purchased a new stake in shares of Colgate-Palmolive during the first quarter worth approximately $48,000. Gradient Investments LLC raised its stake in Colgate-Palmolive by 150.4% in the 2nd quarter. Gradient Investments LLC now owns 666 shares of the company’s stock valued at $65,000 after purchasing an additional 400 shares during the last quarter. Finally, Financial Connections Group Inc. purchased a new position in Colgate-Palmolive in the 2nd quarter valued at $68,000. 80.41% of the stock is owned by institutional investors and hedge funds.

Colgate-Palmolive Trading Down 0.3 %

NYSE:CL traded down $0.33 during trading hours on Wednesday, reaching $99.34. 495,580 shares of the stock were exchanged, compared to its average volume of 4,310,318. Colgate-Palmolive has a twelve month low of $71.46 and a twelve month high of $109.30. The business has a 50-day moving average of $103.38 and a two-hundred day moving average of $97.83. The company has a market capitalization of $81.50 billion, a price-to-earnings ratio of 31.54, a PEG ratio of 3.54 and a beta of 0.40. The company has a quick ratio of 0.70, a current ratio of 1.06 and a debt-to-equity ratio of 16.90.

Colgate-Palmolive (NYSE:CL) last posted its earnings results on Friday, July 26th. The company reported $0.91 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.87 by $0.04. The firm had revenue of $5.06 billion for the quarter, compared to analyst estimates of $5 billion. Colgate-Palmolive had a return on equity of 470.19% and a net margin of 14.21%. Colgate-Palmolive’s revenue was up 4.9% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.77 EPS. On average, equities analysts predict that Colgate-Palmolive will post 3.57 EPS for the current year.

Colgate-Palmolive Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, November 15th. Investors of record on Friday, October 18th will be issued a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a dividend yield of 2.01%. The ex-dividend date of this dividend is Friday, October 18th. Colgate-Palmolive’s dividend payout ratio (DPR) is currently 63.29%.

Analyst Ratings Changes

A number of equities research analysts have recently commented on CL shares. Piper Sandler started coverage on shares of Colgate-Palmolive in a research report on Tuesday, September 24th. They issued an “overweight” rating and a $121.00 target price for the company. Barclays increased their price objective on shares of Colgate-Palmolive from $91.00 to $96.00 and gave the company an “equal weight” rating in a report on Monday, July 29th. Stifel Nicolaus upped their price target on Colgate-Palmolive from $95.00 to $105.00 and gave the company a “buy” rating in a research report on Monday, July 22nd. Morgan Stanley increased their price target on Colgate-Palmolive from $103.00 to $111.00 and gave the company an “overweight” rating in a report on Monday, July 29th. Finally, Deutsche Bank Aktiengesellschaft lowered Colgate-Palmolive from a “buy” rating to a “hold” rating and boosted their price objective for the stock from $107.00 to $109.00 in a research note on Monday, September 9th. One analyst has rated the stock with a sell rating, eight have issued a hold rating and fourteen have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $106.00.

Insider Transactions at Colgate-Palmolive

In related news, insider Sally Massey sold 15,850 shares of Colgate-Palmolive stock in a transaction that occurred on Tuesday, August 6th. The shares were sold at an average price of $103.28, for a total value of $1,636,988.00. Following the completion of the transaction, the insider now owns 13,942 shares in the company, valued at $1,439,929.76. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In other Colgate-Palmolive news, insider Panagiotis Tsourapas sold 14,794 shares of the firm’s stock in a transaction that occurred on Thursday, August 8th. The shares were sold at an average price of $102.94, for a total transaction of $1,522,894.36. Following the sale, the insider now owns 5,146 shares of the company’s stock, valued at approximately $529,729.24. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Sally Massey sold 15,850 shares of the firm’s stock in a transaction dated Tuesday, August 6th. The stock was sold at an average price of $103.28, for a total value of $1,636,988.00. Following the transaction, the insider now directly owns 13,942 shares in the company, valued at approximately $1,439,929.76. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 43,490 shares of company stock valued at $4,486,063. 0.34% of the stock is currently owned by company insiders.

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.