Colgate-Palmolive (NYSE:CL) Shares Sold by GAMMA Investing LLC

GAMMA Investing LLC lessened its holdings in Colgate-Palmolive (NYSE:CL) by 5.7% in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 10,329 shares of the company’s stock after selling 623 shares during the quarter. GAMMA Investing LLC’s holdings in Colgate-Palmolive were worth $939,000 at the end of the most recent reporting period.

A number of other large investors have also modified their holdings of CL. Gordian Advisors LLC purchased a new stake in Colgate-Palmolive during the 3rd quarter worth approximately $602,000. Carrera Capital Advisors grew its holdings in shares of Colgate-Palmolive by 23.1% during the third quarter. Carrera Capital Advisors now owns 39,170 shares of the company’s stock valued at $4,066,000 after buying an additional 7,353 shares during the last quarter. Vontobel Holding Ltd. increased its position in shares of Colgate-Palmolive by 224.6% in the 3rd quarter. Vontobel Holding Ltd. now owns 795,938 shares of the company’s stock valued at $82,626,000 after acquiring an additional 550,750 shares during the period. Handelsbanken Fonder AB raised its stake in Colgate-Palmolive by 10.9% in the 3rd quarter. Handelsbanken Fonder AB now owns 332,972 shares of the company’s stock worth $34,566,000 after acquiring an additional 32,624 shares during the last quarter. Finally, Barclays PLC lifted its position in Colgate-Palmolive by 38.7% during the 3rd quarter. Barclays PLC now owns 7,644,189 shares of the company’s stock worth $793,542,000 after acquiring an additional 2,132,747 shares during the period. Hedge funds and other institutional investors own 80.41% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have recently weighed in on CL. Piper Sandler began coverage on Colgate-Palmolive in a report on Tuesday, September 24th. They issued an “overweight” rating and a $121.00 price objective on the stock. Deutsche Bank Aktiengesellschaft lowered shares of Colgate-Palmolive from a “buy” rating to a “hold” rating and raised their price target for the stock from $107.00 to $109.00 in a research report on Monday, September 9th. Stifel Nicolaus downgraded shares of Colgate-Palmolive from a “buy” rating to a “hold” rating and dropped their price objective for the company from $105.00 to $101.00 in a report on Monday, October 28th. JPMorgan Chase & Co. raised their target price on shares of Colgate-Palmolive from $113.00 to $114.00 and gave the stock an “overweight” rating in a report on Friday, October 11th. Finally, StockNews.com raised shares of Colgate-Palmolive from a “hold” rating to a “buy” rating in a report on Wednesday. One equities research analyst has rated the stock with a sell rating, nine have issued a hold rating and thirteen have issued a buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $105.11.

Insider Buying and Selling

In related news, CFO Stanley J. Sutula III sold 45,410 shares of the company’s stock in a transaction dated Tuesday, November 5th. The shares were sold at an average price of $94.11, for a total transaction 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 approximately $3,456,283.86. This represents a 55.29 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 0.34% of the stock is currently owned by insiders.

Colgate-Palmolive Stock Performance

NYSE:CL opened at $90.15 on Friday. The company has a fifty day moving average of $93.35 and a two-hundred day moving average of $98.42. Colgate-Palmolive has a fifty-two week low of $79.52 and a fifty-two week high of $109.30. The stock has a market capitalization of $73.65 billion, a PE ratio of 25.83, a P/E/G ratio of 3.31 and a beta of 0.44. 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 Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, February 14th. Investors of record on Tuesday, January 21st will be paid a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a yield of 2.22%. The ex-dividend date of this dividend is Tuesday, January 21st. Colgate-Palmolive’s dividend payout ratio is presently 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.