State Treasurer State of Michigan trimmed its position in Colgate-Palmolive (NYSE:CL) by 3.7% during the fourth quarter, Holdings Channel reports. The institutional investor owned 257,384 shares of the company’s stock after selling 9,900 shares during the period. State Treasurer State of Michigan’s holdings in Colgate-Palmolive were worth $19,420,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Other large investors have also recently bought and sold shares of the company. Jacobi Capital Management LLC boosted its position in shares of Colgate-Palmolive by 125.5% during the 3rd quarter. Jacobi Capital Management LLC now owns 1,443 shares of the company’s stock worth $104,000 after purchasing an additional 803 shares in the last quarter. Krilogy Financial LLC boosted its position in shares of Colgate-Palmolive by 23.0% during the 2nd quarter. Krilogy Financial LLC now owns 1,547 shares of the company’s stock worth $115,000 after purchasing an additional 289 shares in the last quarter. Captrust Financial Advisors purchased a new stake in shares of Colgate-Palmolive during the 2nd quarter worth $122,000. AlphaMark Advisors LLC boosted its position in shares of Colgate-Palmolive by 1.5% during the 2nd quarter. AlphaMark Advisors LLC now owns 1,698 shares of the company’s stock worth $126,000 after purchasing an additional 25 shares in the last quarter. Finally, Bruderman Asset Management LLC purchased a new stake in shares of Colgate-Palmolive during the 2nd quarter worth $126,000. Hedge funds and other institutional investors own 73.10% of the company’s stock.
Colgate-Palmolive (NYSE:CL) opened at $69.76 on Friday. Colgate-Palmolive has a one year low of $66.26 and a one year high of $77.91. The company has a current ratio of 0.47, a quick ratio of 0.34 and a debt-to-equity ratio of 24.42. The company has a market cap of $60,545.35, a PE ratio of 30.60, a PEG ratio of 2.55 and a beta of 0.75.
The company also recently announced a quarterly dividend, which will be paid on Thursday, February 15th. Stockholders of record on Tuesday, January 23rd will be issued a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a dividend yield of 2.29%. The ex-dividend date is Monday, January 22nd. Colgate-Palmolive’s payout ratio is currently 70.18%.
In other news, insider Victoria L. Dolan sold 9,000 shares of the business’s stock in a transaction dated Tuesday, November 14th. The stock was sold at an average price of $73.41, for a total transaction of $660,690.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, COO Noel R. Wallace sold 126,304 shares of the business’s stock in a transaction dated Wednesday, January 31st. The stock was sold at an average price of $73.78, for a total value of $9,318,709.12. Following the sale, the chief operating officer now owns 305,631 shares of the company’s stock, valued at approximately $22,549,455.18. The disclosure for this sale can be found here. Insiders have sold a total of 327,451 shares of company stock valued at $23,534,707 in the last quarter. Company insiders own 1.02% of the company’s stock.
Several equities research analysts have commented on the stock. Citigroup boosted their target price on shares of Colgate-Palmolive from $75.00 to $80.00 and gave the stock a “neutral” rating in a research report on Tuesday, January 30th. BNP Paribas lowered shares of Colgate-Palmolive from an “outperform” rating to an “underperform” rating in a research report on Tuesday, January 30th. Jefferies Group reiterated a “hold” rating and issued a $79.00 price objective on shares of Colgate-Palmolive in a research report on Friday, January 26th. Zacks Investment Research lowered shares of Colgate-Palmolive from a “hold” rating to a “sell” rating in a research report on Wednesday, November 1st. Finally, KeyCorp reiterated a “hold” rating on shares of Colgate-Palmolive in a research report on Saturday, November 25th. Three analysts have rated the stock with a sell rating, eleven have given a hold rating and five have assigned a buy rating to the company’s stock. Colgate-Palmolive has a consensus rating of “Hold” and a consensus target price of $77.71.
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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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