Matthew Goff Investment Advisor LLC acquired a new stake in Colgate-Palmolive (NYSE:CL) during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 19,637 shares of the company’s stock, valued at approximately $303,000.
Several other hedge funds have also recently made changes to their positions in the company. Macquarie Group Ltd. grew its holdings in Colgate-Palmolive by 203.2% during the second quarter. Macquarie Group Ltd. now owns 34,569 shares of the company’s stock worth $2,241,000 after acquiring an additional 23,169 shares during the period. Middleton & Co Inc MA grew its holdings in Colgate-Palmolive by 4.4% during the third quarter. Middleton & Co Inc MA now owns 79,713 shares of the company’s stock worth $5,337,000 after acquiring an additional 3,340 shares during the period. Schwab Charles Investment Management Inc. grew its holdings in Colgate-Palmolive by 2.2% during the second quarter. Schwab Charles Investment Management Inc. now owns 3,233,699 shares of the company’s stock worth $209,577,000 after acquiring an additional 70,318 shares during the period. Tower Research Capital LLC TRC boosted its position in Colgate-Palmolive by 823.1% during the second quarter. Tower Research Capital LLC TRC now owns 11,077 shares of the company’s stock worth $718,000 after purchasing an additional 9,877 shares in the last quarter. Finally, Centaurus Financial Inc. boosted its position in Colgate-Palmolive by 147.5% during the second quarter. Centaurus Financial Inc. now owns 8,262 shares of the company’s stock worth $535,000 after purchasing an additional 4,924 shares in the last quarter. 75.10% of the stock is currently owned by institutional investors and hedge funds.
Shares of NYSE CL traded up $0.45 during midday trading on Friday, hitting $63.68. The stock had a trading volume of 77,172 shares, compared to its average volume of 4,494,642. The company has a market cap of $54.71 billion, a PE ratio of 22.28, a price-to-earnings-growth ratio of 3.10 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 has a debt-to-equity ratio of 64.85, a current ratio of 1.11 and a quick ratio of 0.77.
The business also recently disclosed a quarterly dividend, which was paid on Thursday, November 15th. Investors of record on Friday, October 19th were given a dividend of $0.42 per share. The ex-dividend date of this dividend was Thursday, October 18th. This represents a $1.68 dividend on an annualized basis and a yield of 2.64%. Colgate-Palmolive’s payout ratio is 58.54%.
A number of equities analysts have issued reports on CL shares. UBS Group set a $71.00 price target on Colgate-Palmolive and gave the stock a “buy” rating in a research report on Wednesday, October 17th. Argus reiterated a “buy” rating and set a $75.00 price target (up previously from $72.00) on shares of Colgate-Palmolive in a research report on Tuesday, September 18th. Morgan Stanley lowered their price target on Colgate-Palmolive from $65.00 to $60.00 and set a “hold” rating on the stock in a research report on Tuesday, October 30th. Zacks Investment Research upgraded Colgate-Palmolive from a “sell” rating to a “hold” rating in a research report on Tuesday, September 18th. Finally, Citigroup lowered their price target on Colgate-Palmolive from $68.00 to $63.00 and set a “hold” rating on the stock in a research report on Monday, October 29th. Three research analysts have rated the stock with a sell rating, twelve have issued a hold rating and two have given a buy rating to the company. The stock 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 Colgate-Palmolive stock in a transaction that occurred on Tuesday, September 11th. The stock was sold at an average price of $67.05, for a total transaction of $30,977.10. Following the transaction, the vice president now owns 41,250 shares in the company, valued at $2,765,812.50. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, CFO Henning I. Jakobsen sold 1,015 shares of Colgate-Palmolive stock in a transaction that occurred on Tuesday, September 11th. The stock was sold at an average price of $67.05, for a total value of $68,055.75. Following the transaction, the chief financial officer now owns 36,193 shares in the company, valued at approximately $2,426,740.65. The disclosure for this sale can be found here. Company insiders own 1.02% of the company’s stock.
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Colgate-Palmolive Company Profile
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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