BB&T Investment Services Inc. acquired a new stake in Colgate-Palmolive (NYSE:CL) in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund acquired 4,768 shares of the company’s stock, valued at approximately $353,000.
Several other hedge funds also recently modified their holdings of CL. Blue Chip Partners Inc. raised its holdings in Colgate-Palmolive by 0.4% in the 2nd quarter. Blue Chip Partners Inc. now owns 1,813 shares of the company’s stock worth $134,000 after purchasing an additional 8 shares during the period. Cue Financial Group Inc. raised its holdings in Colgate-Palmolive by 0.3% in the 2nd quarter. Cue Financial Group Inc. now owns 4,854 shares of the company’s stock worth $360,000 after purchasing an additional 14 shares during the period. Cornerstone Financial Partners LLC raised its holdings in Colgate-Palmolive by 0.5% in the 2nd quarter. Cornerstone Financial Partners LLC now owns 3,813 shares of the company’s stock worth $282,000 after purchasing an additional 19 shares during the period. M Holdings Securities Inc. raised its holdings in Colgate-Palmolive by 0.4% in the 1st quarter. M Holdings Securities Inc. now owns 5,366 shares of the company’s stock worth $393,000 after purchasing an additional 21 shares during the period. Finally, AlphaMark Advisors LLC raised its holdings in Colgate-Palmolive by 1.5% in 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 during the period. 72.96% of the stock is owned by institutional investors and hedge funds.
Colgate-Palmolive (NYSE:CL) opened at $73.32 on Friday. Colgate-Palmolive has a fifty-two week low of $63.43 and a fifty-two week high of $77.27. The company has a market capitalization of $64,277.30, a P/E ratio of 25.50, a price-to-earnings-growth ratio of 3.35 and a beta of 0.81. The company has a current ratio of 1.23, a quick ratio of 0.92 and a debt-to-equity ratio of 24.42.
The company also recently announced a quarterly dividend, which was paid on Wednesday, November 15th. Shareholders of record on Monday, October 23rd were issued a dividend of $0.40 per share. The ex-dividend date was Friday, October 20th. This represents a $1.60 dividend on an annualized basis and a dividend yield of 2.18%. Colgate-Palmolive’s payout ratio is currently 61.78%.
A number of research firms recently weighed in on CL. Zacks Investment Research cut Colgate-Palmolive from a “buy” rating to a “hold” rating in a report on Tuesday, October 17th. KeyCorp reaffirmed a “hold” rating on shares of Colgate-Palmolive in a report on Monday, October 16th. SunTrust Banks raised Colgate-Palmolive from a “hold” rating to a “buy” rating and upped their price target for the stock from $65.00 to $85.00 in a report on Wednesday, October 11th. Societe Generale cut Colgate-Palmolive from a “hold” rating to a “sell” rating and set a $66.00 price target for the company. in a report on Wednesday, November 29th. They noted that the move was a valuation call. Finally, Royal Bank Of Canada reaffirmed a “hold” rating and issued a $74.00 price target on shares of Colgate-Palmolive in a report on Sunday, October 8th. Two equities research analysts have rated the stock with a sell rating, fifteen have assigned a hold rating and four have issued a buy rating to the company. The company currently has a consensus rating of “Hold” and a consensus price target of $76.04.
In other news, insider Victoria L. Dolan sold 9,000 shares of the company’s stock in a transaction that occurred on Tuesday, November 14th. The stock was sold at an average price of $73.41, for a total value of $660,690.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Stephen I. Sadove sold 20,780 shares of the company’s stock in a transaction that occurred on Monday, November 6th. The shares were sold at an average price of $70.52, for a total value of $1,465,405.60. Following the completion of the sale, the director now owns 36,268 shares of the company’s stock, valued at $2,557,619.36. The disclosure for this sale can be found here. Insiders have sold 173,673 shares of company stock valued at $12,629,293 in the last three months. Insiders own 1.02% of the company’s stock.
Colgate-Palmolive Company Profile
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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