Kanawha Capital Management LLC Reduces Stake in Colgate-Palmolive (NYSE:CL)

Kanawha Capital Management LLC reduced its stake in shares of Colgate-Palmolive (NYSE:CL) by 2.7% in the third quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 74,822 shares of the company’s stock after selling 2,115 shares during the period. Kanawha Capital Management LLC’s holdings in Colgate-Palmolive were worth $7,767,000 at the end of the most recent reporting period.

Several other large investors also recently modified their holdings of the stock. E Fund Management Hong Kong Co. Ltd. purchased a new stake in Colgate-Palmolive during the second quarter valued at about $25,000. Continuum Advisory LLC lifted its stake in shares of Colgate-Palmolive by 46.5% during the 2nd quarter. Continuum Advisory LLC now owns 394 shares of the company’s stock valued at $38,000 after buying an additional 125 shares in the last quarter. Reston Wealth Management LLC bought a new position in Colgate-Palmolive in the 3rd quarter worth approximately $42,000. Gradient Investments LLC grew its stake in Colgate-Palmolive by 150.4% in the 2nd quarter. Gradient Investments LLC now owns 666 shares of the company’s stock valued at $65,000 after buying an additional 400 shares in the last quarter. Finally, Financial Connections Group Inc. purchased a new position in Colgate-Palmolive in the 2nd quarter valued at approximately $68,000. Hedge funds and other institutional investors own 80.41% of the company’s stock.

Insider Buying and Selling at Colgate-Palmolive

In other news, EVP Gregory Malcolm sold 10,533 shares of the company’s stock in a transaction dated Tuesday, August 6th. The shares were sold at an average price of $103.10, for a total transaction of $1,085,952.30. Following the completion of the transaction, the executive vice president now directly owns 10,377 shares of the company’s stock, valued at approximately $1,069,868.70. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In other news, EVP Gregory Malcolm sold 10,533 shares of Colgate-Palmolive stock in a transaction that occurred on Tuesday, August 6th. The stock was sold at an average price of $103.10, for a total value of $1,085,952.30. Following the sale, the executive vice president now directly owns 10,377 shares in the company, valued at approximately $1,069,868.70. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Martina Hundmejean sold 2,313 shares of the company’s stock in a transaction that occurred on Friday, August 23rd. The shares were sold at an average price of $103.86, for a total value of $240,228.18. Following the transaction, the director now owns 11,755 shares of the company’s stock, valued at approximately $1,220,874.30. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 43,490 shares of company stock valued at $4,486,063 in the last quarter. Company insiders own 0.34% of the company’s stock.

Colgate-Palmolive Stock Down 0.4 %

CL opened at $93.33 on Monday. Colgate-Palmolive has a 12 month low of $74.22 and a 12 month high of $109.30. The company has a current ratio of 1.04, a quick ratio of 0.28 and a debt-to-equity ratio of 9.46. The business’s 50-day moving average price is $102.26 and its 200-day moving average price is $98.35. The company has a market cap of $76.25 billion, a P/E ratio of 26.74, a P/E/G ratio of 3.35 and a beta of 0.42.

Colgate-Palmolive Announces Dividend

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

Analyst Ratings Changes

A number of equities analysts have recently commented on the company. Jefferies Financial Group lowered Colgate-Palmolive from a “buy” rating to a “hold” rating and cut their price target for the stock from $103.00 to $95.00 in a report on Wednesday, July 24th. UBS Group boosted their price objective on shares of Colgate-Palmolive from $119.00 to $122.00 and gave the company a “buy” rating in a research note on Wednesday, September 4th. Morgan Stanley increased their target price on shares of Colgate-Palmolive from $103.00 to $111.00 and gave the stock an “overweight” rating in a research note on Monday, July 29th. Sanford C. Bernstein raised their price target on shares of Colgate-Palmolive from $100.00 to $103.00 and gave the company a “market perform” rating in a report on Tuesday, July 30th. Finally, JPMorgan Chase & Co. upped their price target on shares of Colgate-Palmolive from $113.00 to $114.00 and gave the stock an “overweight” rating in a report on Friday, October 11th. One 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’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $105.11.

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.