Colgate-Palmolive (NYSE:CL) Shares Sold by Main Street Financial Solutions LLC

Main Street Financial Solutions LLC trimmed its holdings in Colgate-Palmolive (NYSE:CL) by 9.8% in the third quarter, according to its most recent disclosure with the SEC. The fund owned 4,094 shares of the company’s stock after selling 444 shares during the period. Main Street Financial Solutions LLC’s holdings in Colgate-Palmolive were worth $425,000 at the end of the most recent reporting period.

Several other hedge funds have also made changes to their positions in CL. E Fund Management Hong Kong Co. Ltd. acquired a new stake in Colgate-Palmolive during the 2nd quarter worth approximately $25,000. Continuum Advisory LLC grew its position in Colgate-Palmolive by 46.5% in the 2nd quarter. Continuum Advisory LLC now owns 394 shares of the company’s stock valued at $38,000 after buying an additional 125 shares during the last quarter. Reston Wealth Management LLC purchased a new position in Colgate-Palmolive in the 3rd quarter valued at $42,000. Capital Performance Advisors LLP purchased a new position in Colgate-Palmolive during the 3rd quarter worth $53,000. Finally, Gradient Investments LLC raised its position in Colgate-Palmolive by 150.4% during the 2nd quarter. Gradient Investments LLC now owns 666 shares of the company’s stock worth $65,000 after buying an additional 400 shares during the last quarter. Institutional investors and hedge funds own 80.41% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on CL. TD Cowen dropped their price target on shares of Colgate-Palmolive from $115.00 to $110.00 and set a “buy” rating on the stock in a research note on Monday, October 28th. Redburn Atlantic upgraded Colgate-Palmolive to a “hold” rating in a research report on Thursday, August 1st. Morgan Stanley raised 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. Evercore ISI upped their price objective on Colgate-Palmolive from $100.00 to $106.00 and gave the stock an “outperform” rating in a report on Thursday, July 18th. Finally, Stifel Nicolaus downgraded Colgate-Palmolive from a “buy” rating to a “hold” rating and reduced their target price for the company from $105.00 to $101.00 in a report on Monday, October 28th. One 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 company’s stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $105.11.

Colgate-Palmolive Stock Performance

Colgate-Palmolive stock opened at $91.44 on Friday. The company has a debt-to-equity ratio of 9.46, a quick ratio of 0.68 and a current ratio of 1.04. Colgate-Palmolive has a fifty-two week low of $75.17 and a fifty-two week high of $109.30. The stock has a fifty day moving average of $99.94 and a two-hundred day moving average of $98.48. The company has a market capitalization of $74.71 billion, a price-to-earnings ratio of 26.20, a PEG ratio of 3.27 and a beta of 0.42.

Colgate-Palmolive Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, November 15th. Shareholders of record on Friday, October 18th will be issued a $0.50 dividend. The ex-dividend date is Friday, October 18th. This represents a $2.00 dividend on an annualized basis and a yield of 2.19%. Colgate-Palmolive’s dividend payout ratio (DPR) is 57.31%.

Insider Buying and Selling at Colgate-Palmolive

In related news, Director Martina Hundmejean sold 2,313 shares of the 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 transaction, the director now directly owns 11,755 shares in the company, valued at approximately $1,220,874.30. This represents a 16.44 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, 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 shares were sold at an average price of $94.11, for a total value of $4,273,535.10. Following the completion of the sale, the chief financial officer now owns 36,726 shares of the company’s stock, valued at $3,456,283.86. This trade represents a 55.29 % decrease in their position. The disclosure for this sale can be found here. 0.34% of the stock is owned by 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.