Kimelman & Baird LLC Has $986,000 Position in Colgate-Palmolive (NYSE:CL)

Kimelman & Baird LLC decreased its stake in Colgate-Palmolive (NYSE:CL) by 7.8% in the 3rd quarter, HoldingsChannel reports. The institutional investor owned 9,500 shares of the company’s stock after selling 800 shares during the period. Kimelman & Baird LLC’s holdings in Colgate-Palmolive were worth $986,000 at the end of the most recent quarter.

Other hedge funds also recently made changes to their positions in the company. Park Avenue Securities LLC raised its holdings in Colgate-Palmolive by 5.0% during the 2nd quarter. Park Avenue Securities LLC now owns 7,739 shares of the company’s stock worth $751,000 after purchasing an additional 371 shares during the last quarter. Gateway Investment Advisers LLC raised its stake in Colgate-Palmolive by 210.8% during the second quarter. Gateway Investment Advisers LLC now owns 13,642 shares of the company’s stock worth $1,324,000 after buying an additional 9,252 shares during the last quarter. MJP Associates Inc. ADV acquired a new position in Colgate-Palmolive in the second quarter valued at $205,000. Czech National Bank boosted its position in Colgate-Palmolive by 7.9% during the second quarter. Czech National Bank now owns 156,343 shares of the company’s stock valued at $15,172,000 after acquiring an additional 11,470 shares during the last quarter. Finally, RFG Advisory LLC grew its holdings in Colgate-Palmolive by 2.1% during the 2nd quarter. RFG Advisory LLC now owns 5,411 shares of the company’s stock worth $525,000 after acquiring an additional 112 shares during the period. 80.41% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

CL has been the topic of a number of recent analyst reports. Deutsche Bank Aktiengesellschaft downgraded 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 research note on Monday, September 9th. 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. 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 price objective for the company. Stifel Nicolaus lowered shares of Colgate-Palmolive from a “buy” rating to a “hold” rating and cut their target price for the stock from $105.00 to $101.00 in a research note on Monday, October 28th. Finally, UBS Group raised their price target on shares of Colgate-Palmolive from $119.00 to $122.00 and gave the stock a “buy” rating in a report on Wednesday, September 4th. One equities research analyst has rated the stock with a sell rating, nine have issued a hold rating and thirteen have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $105.11.

Insider Transactions at Colgate-Palmolive

In other news, CFO Stanley J. Sutula III sold 45,410 shares of the business’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 value of $4,273,535.10. Following the transaction, the chief financial officer now owns 36,726 shares in the company, valued at $3,456,283.86. The trade was a 55.29 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Company insiders own 0.34% of the company’s stock.

Colgate-Palmolive Stock Down 0.9 %

Shares of NYSE:CL opened at $94.23 on Friday. The business’s 50 day moving average is $96.54 and its 200 day moving average is $98.63. Colgate-Palmolive has a 12-month low of $75.50 and a 12-month high of $109.30. The stock has a market cap of $76.99 billion, a price-to-earnings ratio of 27.00, a PEG ratio of 3.38 and a beta of 0.43. The company has a quick ratio of 0.68, a current ratio of 1.04 and a debt-to-equity ratio of 9.46.

Colgate-Palmolive Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, November 15th. Shareholders of record on Friday, October 18th were issued a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a yield of 2.12%. The ex-dividend date of this dividend was Friday, October 18th. Colgate-Palmolive’s dividend payout ratio is 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.