NWQ Investment Management Company LLC lifted its stake in shares of Colgate-Palmolive (NYSE:CL) by 29.1% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 3,517 shares of the company’s stock after purchasing an additional 793 shares during the period. NWQ Investment Management Company LLC’s holdings in Colgate-Palmolive were worth $256,000 at the end of the most recent quarter.
Several other institutional investors also recently made changes to their positions in CL. Pacer Advisors Inc. increased its holdings in shares of Colgate-Palmolive by 8.4% during the 2nd quarter. Pacer Advisors Inc. now owns 20,224 shares of the company’s stock worth $1,499,000 after acquiring an additional 1,566 shares during the last quarter. Fiduciary Trust Co. grew its holdings in Colgate-Palmolive by 1.6% in the 2nd quarter. Fiduciary Trust Co. now owns 170,818 shares of the company’s stock valued at $12,663,000 after buying an additional 2,758 shares in the last quarter. The Manufacturers Life Insurance Company grew its holdings in Colgate-Palmolive by 10.3% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 1,131,987 shares of the company’s stock valued at $83,914,000 after buying an additional 105,878 shares in the last quarter. Pensionfund DSM Netherlands acquired a new position in Colgate-Palmolive in the 3rd quarter valued at $4,225,000. Finally, Pacad Investment Ltd. acquired a new position in Colgate-Palmolive in the 2nd quarter valued at $549,000. Institutional investors own 72.86% of the company’s stock.
Shares of Colgate-Palmolive (NYSE:CL) opened at $75.42 on Wednesday. The firm has a market capitalization of $65,524.21, a price-to-earnings ratio of 29.12, a PEG ratio of 3.15 and a beta of 0.80. The company has a current ratio of 1.23, a quick ratio of 0.92 and a debt-to-equity ratio of 24.42. Colgate-Palmolive has a 1 year low of $63.43 and a 1 year high of $77.27.
The business also recently announced a quarterly dividend, which will be paid on Thursday, February 15th. Stockholders of record on Tuesday, January 23rd will be given a dividend of $0.40 per share. The ex-dividend date of this dividend is Monday, January 22nd. This represents a $1.60 dividend on an annualized basis and a dividend yield of 2.12%. Colgate-Palmolive’s payout ratio is 61.78%.
In related news, COO Justin Skala sold 126,393 shares of the company’s stock in a transaction on Thursday, November 9th. The stock was sold at an average price of $72.97, for a total transaction of $9,222,897.21. Following the completion of the sale, the chief operating officer now directly owns 262,361 shares in the company, valued at approximately $19,144,482.17. The sale was disclosed in a filing with the SEC, which is available through this link. Also, insider Jennifer Daniels sold 902 shares of the company’s stock in a transaction on Tuesday, January 9th. The stock was sold at an average price of $75.82, for a total value of $68,389.64. Following the sale, the insider now owns 37,788 shares of the company’s stock, valued at $2,865,086.16. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 181,950 shares of company stock valued at $13,237,385. Corporate insiders own 1.02% of the company’s stock.
A number of research analysts have commented on CL shares. Zacks Investment Research raised Colgate-Palmolive from a “hold” rating to a “buy” rating and set a $81.00 price objective on the stock in a report on Monday, October 23rd. Deutsche Bank started coverage on Colgate-Palmolive in a report on Wednesday, December 13th. They issued a “hold” rating and a $75.00 price objective on the stock. Morgan Stanley raised Colgate-Palmolive from an “equal weight” rating to an “overweight” rating and upped their price objective for the company from $75.00 to $84.00 in a report on Monday, September 25th. KeyCorp reaffirmed a “hold” rating on shares of Colgate-Palmolive in a report on Monday, October 16th. Finally, Macquarie raised Colgate-Palmolive from a “neutral” rating to an “outperform” rating and set a $81.00 price objective on the stock in a report on Tuesday, December 19th. Two analysts have rated the stock with a sell rating, thirteen have issued a hold rating and six have assigned a buy rating to the company. The company presently has an average rating of “Hold” and an average price target of $76.45.
Colgate-Palmolive Company (Colgate) is a consumer products company. The Company operates in two product segments: Oral, Personal and Home Care, and Pet Nutrition. The Oral, Personal and Home Care product segment is operated through five geographic segments, which include North America, Latin America, Europe, Asia Pacific and Africa/Eurasia.
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