Kestra Investment Management LLC Purchases New Position in Colgate-Palmolive (NYSE:CL)

Kestra Investment Management LLC acquired a new position in shares of Colgate-Palmolive (NYSE:CL) during the 3rd quarter, according to its most recent 13F filing with the SEC. The firm acquired 10,395 shares of the company’s stock, valued at approximately $1,079,000.

A number of other institutional investors and hedge funds have also bought and sold shares of the company. E Fund Management Hong Kong Co. Ltd. bought a new stake in Colgate-Palmolive during the 2nd quarter valued at $25,000. Continuum Advisory LLC grew its stake in Colgate-Palmolive by 46.5% during the 2nd quarter. Continuum Advisory LLC now owns 394 shares of the company’s stock worth $38,000 after buying an additional 125 shares during the last quarter. Reston Wealth Management LLC purchased a new stake in Colgate-Palmolive in the third quarter valued at about $42,000. Capital Performance Advisors LLP purchased a new stake in shares of Colgate-Palmolive during the third quarter worth about $53,000. Finally, Prospera Private Wealth LLC acquired a new position in shares of Colgate-Palmolive during the third quarter valued at about $64,000. 80.41% of the stock is owned by institutional investors.

Insider Buying and Selling at Colgate-Palmolive

In related news, CFO Stanley J. Sutula III sold 45,410 shares of the stock in a transaction that occurred on Tuesday, November 5th. The stock was sold at an average price of $94.11, for a total value of $4,273,535.10. Following the completion of the sale, the chief financial officer now owns 36,726 shares of the company’s stock, valued at approximately $3,456,283.86. This trade represents a 55.29 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 0.34% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

CL has been the topic of several research analyst reports. Deutsche Bank Aktiengesellschaft downgraded Colgate-Palmolive from a “buy” rating to a “hold” rating and boosted their price target for the company from $107.00 to $109.00 in a research note on Monday, September 9th. TD Cowen cut their price target on shares of Colgate-Palmolive from $115.00 to $110.00 and set a “buy” rating on the stock in a report on Monday, October 28th. Piper Sandler began coverage on shares of Colgate-Palmolive in a report on Tuesday, September 24th. They issued an “overweight” rating and a $121.00 price objective on the stock. UBS Group raised their target price on shares of Colgate-Palmolive from $119.00 to $122.00 and gave the stock a “buy” rating in a report on Wednesday, September 4th. Finally, Stifel Nicolaus downgraded shares of Colgate-Palmolive from a “buy” rating to a “hold” rating and decreased their target price for the company from $105.00 to $101.00 in a research report on Monday, October 28th. One investment analyst has rated the stock with a sell rating, nine have issued a hold rating and thirteen have given a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $105.11.

Colgate-Palmolive Trading Down 0.1 %

Shares of Colgate-Palmolive stock opened at $96.63 on Monday. Colgate-Palmolive has a twelve month low of $75.50 and a twelve month high of $109.30. The firm’s 50-day moving average price is $97.38 and its 200 day moving average price is $98.64. The company has a current ratio of 1.04, a quick ratio of 0.68 and a debt-to-equity ratio of 9.46. The firm has a market capitalization of $78.95 billion, a PE ratio of 27.69, a P/E/G ratio of 3.45 and a beta of 0.42.

Colgate-Palmolive Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, November 15th. Investors of record on Friday, October 18th were paid a $0.50 dividend. This represents a $2.00 annualized dividend and a yield of 2.07%. The ex-dividend date of this dividend was Friday, October 18th. Colgate-Palmolive’s dividend payout ratio is currently 57.31%.

About Colgate-Palmolive

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.