South Street Advisors LLC Lowers Position in Colgate-Palmolive (NYSE:CL)

South Street Advisors LLC cut its stake in shares of Colgate-Palmolive (NYSE:CL) by 18.8% during the 3rd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 2,600 shares of the company’s stock after selling 600 shares during the period. South Street Advisors LLC’s holdings in Colgate-Palmolive were worth $270,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently bought and sold shares of the stock. E Fund Management Hong Kong Co. Ltd. bought a new stake in shares of Colgate-Palmolive in the second quarter worth about $25,000. Continuum Advisory LLC increased its stake in Colgate-Palmolive by 46.5% during the second quarter. Continuum Advisory LLC now owns 394 shares of the company’s stock worth $38,000 after acquiring an additional 125 shares during the last quarter. Reston Wealth Management LLC bought a new stake in Colgate-Palmolive during the third quarter worth approximately $42,000. Capital Performance Advisors LLP bought a new stake in Colgate-Palmolive during the third quarter worth approximately $53,000. Finally, Gradient Investments LLC increased its stake in Colgate-Palmolive by 150.4% during the second quarter. Gradient Investments LLC now owns 666 shares of the company’s stock worth $65,000 after acquiring an additional 400 shares during the last quarter. 80.41% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several equities research analysts have weighed in on the company. TD Cowen reduced their price objective on Colgate-Palmolive from $115.00 to $110.00 and set a “buy” rating on the stock in a research note on Monday, October 28th. Jefferies Financial Group lowered Colgate-Palmolive from a “buy” rating to a “hold” rating and dropped their target price for the company from $103.00 to $95.00 in a research report on Wednesday, July 24th. Barclays boosted their target price on Colgate-Palmolive from $91.00 to $96.00 and gave the company an “equal weight” rating in a research report on Monday, July 29th. JPMorgan Chase & Co. boosted their target price on Colgate-Palmolive from $113.00 to $114.00 and gave the company an “overweight” rating in a research report on Friday, October 11th. Finally, Redburn Atlantic upgraded Colgate-Palmolive to a “hold” rating in a research report on Thursday, August 1st. One equities research analyst has rated the stock with a sell rating, nine have issued a hold rating and thirteen have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $105.11.

Colgate-Palmolive Stock Performance

Shares of NYSE CL traded up $2.11 during mid-day trading on Friday, hitting $93.56. The stock had a trading volume of 7,328,993 shares, compared to its average volume of 4,387,812. The company has a debt-to-equity ratio of 9.46, a quick ratio of 0.68 and a current ratio of 1.04. The company has a 50 day moving average of $99.31 and a two-hundred day moving average of $98.45. Colgate-Palmolive has a twelve month low of $75.17 and a twelve month high of $109.30. The firm has a market cap of $76.44 billion, a PE ratio of 26.81, a PEG ratio of 3.25 and a beta of 0.42.

Colgate-Palmolive Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, November 15th. Shareholders of record on Friday, October 18th were issued a $0.50 dividend. This represents a $2.00 annualized dividend and a yield of 2.14%. The ex-dividend date of this dividend was Friday, October 18th. Colgate-Palmolive’s payout ratio is 57.31%.

Insider Buying and Selling at Colgate-Palmolive

In other news, Director Martina Hundmejean sold 2,313 shares of the stock in a transaction dated Friday, August 23rd. The shares were sold at an average price of $103.86, for a total transaction of $240,228.18. Following the sale, the director now directly owns 11,755 shares of the company’s stock, valued at $1,220,874.30. This represents a 16.44 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, CFO Stanley J. Sutula III sold 45,410 shares of the stock in a transaction dated Tuesday, November 5th. The stock was sold at an average price of $94.11, for a total transaction of $4,273,535.10. Following the sale, the chief financial officer now directly owns 36,726 shares in the company, valued at approximately $3,456,283.86. The trade was a 55.29 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.34% of the stock is owned by corporate insiders.

Colgate-Palmolive Profile

Colgate-Palmolive Company, together with its subsidiaries, manufactures and sells consumer products in the United States and internationally. It operates through two segments: Oral, Personal and Home Care; and Pet Nutrition. The Oral, Personal and Home Care segment offers toothpaste, toothbrushes, mouthwash, bar and liquid hand soaps, shower gels, shampoos, conditioners, deodorants and antiperspirants, skin health products, dishwashing detergents, fabric conditioners, household cleaners, and other related items.