Congress Asset Management Co. Decreases Stake in Colgate-Palmolive (NYSE:CL)

Congress Asset Management Co. cut its position in Colgate-Palmolive (NYSE:CL) by 1.1% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 145,189 shares of the company’s stock after selling 1,570 shares during the period. Congress Asset Management Co.’s holdings in Colgate-Palmolive were worth $15,072,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also modified their holdings of CL. E Fund Management Hong Kong Co. Ltd. purchased a new position in shares of Colgate-Palmolive during the second quarter worth about $25,000. Continuum Advisory LLC lifted its stake in Colgate-Palmolive by 46.5% in the second quarter. Continuum Advisory LLC now owns 394 shares of the company’s stock valued at $38,000 after buying an additional 125 shares during the last quarter. Gradient Investments LLC boosted its holdings in shares of Colgate-Palmolive by 150.4% in the second quarter. Gradient Investments LLC now owns 666 shares of the company’s stock valued at $65,000 after acquiring an additional 400 shares during the period. Financial Connections Group Inc. purchased a new position in shares of Colgate-Palmolive during the second quarter worth approximately $68,000. Finally, Triad Wealth Partners LLC acquired a new position in shares of Colgate-Palmolive in the 2nd quarter valued at $71,000. 80.41% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several brokerages have issued reports on CL. Evercore ISI raised their price objective on shares of Colgate-Palmolive from $100.00 to $106.00 and gave the stock an “outperform” rating in a research report on Thursday, July 18th. Jefferies Financial Group cut Colgate-Palmolive from a “buy” rating to a “hold” rating and decreased their price objective for the stock from $103.00 to $95.00 in a research report on Wednesday, July 24th. Wells Fargo & Company cut their price target on Colgate-Palmolive from $100.00 to $92.00 and set an “underweight” rating for the company in a research note on Monday. Piper Sandler assumed coverage on shares of Colgate-Palmolive in a research report on Tuesday, September 24th. They set an “overweight” rating and a $121.00 price objective for the company. Finally, Redburn Atlantic raised shares of Colgate-Palmolive to a “hold” rating in a report on Thursday, August 1st. One research analyst has rated the stock with a sell rating, ten have given a hold rating and twelve have issued a buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $105.11.

Insider Buying and Selling at Colgate-Palmolive

In other news, Director Martina Hundmejean sold 2,313 shares of the firm’s stock in a transaction on Friday, August 23rd. The stock was sold at an average price of $103.86, for a total value of $240,228.18. Following the completion of the sale, the director now directly owns 11,755 shares in the company, valued at approximately $1,220,874.30. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. In other news, Director Martina Hundmejean sold 2,313 shares of the business’s stock in a transaction on Friday, August 23rd. The stock was sold at an average price of $103.86, for a total transaction of $240,228.18. Following the completion of the sale, the director now owns 11,755 shares in the company, valued at $1,220,874.30. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Sally Massey sold 15,850 shares of the company’s stock in a transaction dated Tuesday, August 6th. The shares were sold at an average price of $103.28, for a total transaction of $1,636,988.00. Following the transaction, the insider now owns 13,942 shares in the company, valued at approximately $1,439,929.76. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 43,490 shares of company stock worth $4,486,063. 0.34% of the stock is currently owned by insiders.

Colgate-Palmolive Stock Performance

NYSE CL opened at $93.67 on Friday. Colgate-Palmolive has a twelve month low of $73.97 and a twelve month high of $109.30. The company has a quick ratio of 0.70, a current ratio of 1.06 and a debt-to-equity ratio of 16.90. The stock has a market cap of $76.53 billion, a P/E ratio of 26.84, a PEG ratio of 3.54 and a beta of 0.40. The company’s 50-day simple moving average is $102.48 and its 200 day simple moving average is $98.14.

Colgate-Palmolive Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, November 15th. Stockholders of record on Friday, October 18th will be paid a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a dividend yield of 2.14%. The ex-dividend date is Friday, October 18th. Colgate-Palmolive’s dividend payout ratio (DPR) is currently 57.31%.

Colgate-Palmolive Company 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.