Profund Advisors LLC boosted its stake in shares of Colgate-Palmolive Company (NYSE:CL) by 26.4% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 26,266 shares of the company’s stock after purchasing an additional 5,480 shares during the quarter. Profund Advisors LLC’s holdings in Colgate-Palmolive were worth $1,947,000 at the end of the most recent reporting period.
A number of other hedge funds also recently added to or reduced their stakes in the business. Destination Wealth Management boosted its position in Colgate-Palmolive by 3.8% during the second quarter. Destination Wealth Management now owns 166,214 shares of the company’s stock worth $12,321,000 after purchasing an additional 6,104 shares during the period. BlueMountain Capital Management LLC boosted its position in Colgate-Palmolive by 19.1% during the second quarter. BlueMountain Capital Management LLC now owns 34,307 shares of the company’s stock worth $2,543,000 after purchasing an additional 5,495 shares during the period. Amalgamated Bank boosted its position in Colgate-Palmolive by 57.7% during the second quarter. Amalgamated Bank now owns 98,092 shares of the company’s stock worth $7,272,000 after purchasing an additional 35,875 shares during the period. Bruderman Asset Management LLC bought a new position in Colgate-Palmolive during the second quarter worth $126,000. Finally, Bahl & Gaynor Inc. boosted its position in Colgate-Palmolive by 4.2% during the second quarter. Bahl & Gaynor Inc. now owns 39,134 shares of the company’s stock worth $2,561,000 after purchasing an additional 1,593 shares during the period. 73.46% of the stock is owned by hedge funds and other institutional investors.
Colgate-Palmolive Company (NYSE:CL) opened at $71.89 on Monday. The company has a debt-to-equity ratio of 24.42, a quick ratio of 0.92 and a current ratio of 1.23. The company has a market capitalization of $63,126.98, a PE ratio of 25.05, a price-to-earnings-growth ratio of 3.29 and a beta of 0.80. Colgate-Palmolive Company has a 52 week low of $63.43 and a 52 week high of $77.27.
The firm also recently announced a quarterly dividend, which was paid on Wednesday, November 15th. Shareholders of record on Monday, October 23rd were paid a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a yield of 2.23%. The ex-dividend date of this dividend was Friday, October 20th. Colgate-Palmolive’s payout ratio is 61.78%.
CL has been the subject of a number of recent research reports. Zacks Investment Research raised shares of Colgate-Palmolive from a “hold” rating to a “buy” rating and set a $81.00 target price for the company in a research report on Monday, October 23rd. Morgan Stanley raised shares of Colgate-Palmolive from an “equal weight” rating to an “overweight” rating and boosted their target price for the company from $75.00 to $84.00 in a research report on Monday, September 25th. KeyCorp reissued a “hold” rating on shares of Colgate-Palmolive in a research report on Monday, October 16th. Stifel Nicolaus set a $73.00 target price on shares of Colgate-Palmolive and gave the company a “hold” rating in a research report on Sunday, October 29th. Finally, SunTrust Banks, Inc. raised shares of Colgate-Palmolive from a “hold” rating to a “buy” rating and boosted their target price for the company from $65.00 to $85.00 in a research report on Wednesday, October 11th. One equities research analyst has rated the stock with a sell rating, fifteen have issued a hold rating and four have given a buy rating to the company. The stock has an average rating of “Hold” and an average target price of $76.67.
In other Colgate-Palmolive news, COO Justin Skala sold 126,393 shares of the business’s stock in a transaction dated 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 transaction, the chief operating officer now owns 262,361 shares of the company’s stock, valued at $19,144,482.17. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Stephen I. Sadove sold 20,780 shares of the business’s stock in a transaction dated Monday, November 6th. The stock was sold at an average price of $70.52, for a total value of $1,465,405.60. Following the transaction, the director now directly owns 36,268 shares of the company’s stock, valued at approximately $2,557,619.36. The disclosure for this sale can be found here. In the last three months, insiders have sold 173,673 shares of company stock valued at $12,629,293. Insiders own 1.02% of the company’s stock.
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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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