Colgate-Palmolive (CL) Shares Sold by Bailard Inc.
Bailard Inc. lowered its holdings in shares of Colgate-Palmolive (NYSE:CL) by 2.7% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 68,633 shares of the company’s stock after selling 1,870 shares during the quarter. Bailard Inc.’s holdings in Colgate-Palmolive were worth $4,595,000 at the end of the most recent reporting period.
Other large investors have also added to or reduced their stakes in the company. First Trust Advisors LP lifted its position in shares of Colgate-Palmolive by 13.3% in the 2nd quarter. First Trust Advisors LP now owns 354,909 shares of the company’s stock valued at $23,002,000 after acquiring an additional 41,567 shares in the last quarter. Victory Capital Management Inc. increased its stake in Colgate-Palmolive by 9.8% in the 2nd quarter. Victory Capital Management Inc. now owns 90,142 shares of the company’s stock valued at $5,842,000 after buying an additional 8,046 shares during the period. KBC Group NV increased its stake in Colgate-Palmolive by 20.6% in the 2nd quarter. KBC Group NV now owns 171,505 shares of the company’s stock valued at $11,115,000 after buying an additional 29,332 shares during the period. State of Wisconsin Investment Board increased its stake in Colgate-Palmolive by 6.2% in the 2nd quarter. State of Wisconsin Investment Board now owns 961,642 shares of the company’s stock valued at $62,324,000 after buying an additional 56,260 shares during the period. Finally, Commonwealth of Pennsylvania Public School Empls Retrmt SYS acquired a new position in Colgate-Palmolive in the 2nd quarter valued at approximately $5,918,000. Hedge funds and other institutional investors own 75.10% of the company’s stock.
NYSE CL opened at $63.08 on Thursday. The company has a quick ratio of 0.77, a current ratio of 1.11 and a debt-to-equity ratio of 64.85. The firm has a market cap of $55.09 billion, a P/E ratio of 21.98, a PEG ratio of 3.13 and a beta of 0.76. Colgate-Palmolive has a 1 year low of $57.41 and a 1 year high of $77.91.
The company also recently disclosed a quarterly dividend, which was paid on Thursday, November 15th. Investors of record on Friday, October 19th were issued a dividend of $0.42 per share. This represents a $1.68 annualized dividend and a dividend yield of 2.66%. The ex-dividend date of this dividend was Thursday, October 18th. Colgate-Palmolive’s dividend payout ratio is currently 58.54%.
CL has been the topic of several research reports. Citigroup dropped their price objective on shares of Colgate-Palmolive from $68.00 to $63.00 and set a “hold” rating on the stock in a research note on Monday, October 29th. Argus reiterated a “buy” rating and issued a $75.00 price objective (up previously from $72.00) on shares of Colgate-Palmolive in a research note on Tuesday, September 18th. JPMorgan Chase & Co. lowered shares of Colgate-Palmolive from a “neutral” rating to an “underweight” rating and dropped their price objective for the company from $61.00 to $54.00 in a research note on Monday, October 29th. Zacks Investment Research upgraded shares of Colgate-Palmolive from a “sell” rating to a “hold” rating in a research note on Tuesday, September 18th. Finally, UBS Group set a $71.00 price objective on shares of Colgate-Palmolive and gave the company a “buy” rating in a research note on Wednesday, October 17th. Three investment analysts have rated the stock with a sell rating, twelve have issued a hold rating and two have issued a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and an average target price of $68.20.
In related news, VP Philip G. Shotts sold 462 shares of the company’s stock in a transaction on Tuesday, September 11th. The shares were sold at an average price of $67.05, for a total transaction of $30,977.10. Following the completion of the sale, the vice president now directly owns 41,250 shares of the company’s stock, valued at approximately $2,765,812.50. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, CFO Henning I. Jakobsen sold 1,015 shares of the company’s stock in a transaction on Tuesday, September 11th. The stock was sold at an average price of $67.05, for a total transaction of $68,055.75. Following the sale, the chief financial officer now directly owns 36,193 shares of the company’s stock, valued at $2,426,740.65. The disclosure for this sale can be found here. 1.02% of the stock is currently owned by corporate insiders.
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Colgate-Palmolive Company, together with its subsidiaries, manufactures and sells consumer products worldwide. It operates through two segments, Oral, Personal and Home Care; and Pet Nutrition. The company offers oral care products, including toothpastes, toothbrushes, and mouthwashes, as well as pharmaceutical products for dentists and other oral health professionals; personal care products comprising bar and liquid hand soaps, shower gels, shampoos, conditioners, and deodorants and antiperspirants; and home care products, such as laundry and dishwashing detergents, fabric conditioners, household cleaners, and other related products.
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