NorthRock Partners LLC Reduces Holdings in Colgate-Palmolive (NYSE:CL)

NorthRock Partners LLC reduced its holdings in shares of Colgate-Palmolive (NYSE:CL) by 2.6% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 4,095 shares of the company’s stock after selling 109 shares during the period. NorthRock Partners LLC’s holdings in Colgate-Palmolive were worth $425,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in the business. Crestwood Advisors Group LLC raised its stake in shares of Colgate-Palmolive by 1.2% in the third quarter. Crestwood Advisors Group LLC now owns 34,176 shares of the company’s stock worth $3,548,000 after buying an additional 407 shares during the period. Amalgamated Bank increased its holdings in Colgate-Palmolive by 6.6% in the 3rd quarter. Amalgamated Bank now owns 182,571 shares of the company’s stock worth $18,953,000 after acquiring an additional 11,377 shares in the last quarter. FSM Wealth Advisors LLC purchased a new stake in Colgate-Palmolive in the 3rd quarter worth approximately $204,000. Quintet Private Bank Europe S.A. raised its stake in Colgate-Palmolive by 9.3% during the 3rd quarter. Quintet Private Bank Europe S.A. now owns 7,464 shares of the company’s stock worth $775,000 after acquiring an additional 633 shares during the period. Finally, TKG Advisors LLC purchased a new position in Colgate-Palmolive during the third quarter valued at approximately $2,156,000. 80.41% of the stock is currently owned by institutional investors.

Colgate-Palmolive Stock Performance

CL stock opened at $94.26 on Wednesday. Colgate-Palmolive has a twelve month low of $74.67 and a twelve month high of $109.30. The firm has a market cap of $77.01 billion, a price-to-earnings ratio of 27.01, a PEG ratio of 3.33 and a beta of 0.42. The business’s fifty day simple moving average is $101.80 and its two-hundred day simple moving average is $98.45. The company has a quick ratio of 0.68, a current ratio of 1.04 and a debt-to-equity ratio of 9.46.

Colgate-Palmolive Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, November 15th. Investors of record on Friday, October 18th will be paid a $0.50 dividend. This represents a $2.00 annualized dividend and a yield of 2.12%. The ex-dividend date is Friday, October 18th. Colgate-Palmolive’s dividend payout ratio is presently 57.31%.

Insider Buying and Selling at Colgate-Palmolive

In other news, insider Panagiotis Tsourapas sold 14,794 shares of the firm’s stock in a transaction that occurred on Thursday, August 8th. The shares were sold at an average price of $102.94, for a total transaction of $1,522,894.36. Following the transaction, the insider now directly owns 5,146 shares of the company’s stock, valued at approximately $529,729.24. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. In other news, insider Panagiotis Tsourapas sold 14,794 shares of the stock in a transaction on Thursday, August 8th. The stock was sold at an average price of $102.94, for a total transaction of $1,522,894.36. Following the transaction, the insider now owns 5,146 shares of the company’s stock, valued at approximately $529,729.24. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Martina Hundmejean sold 2,313 shares of Colgate-Palmolive stock in a transaction dated Friday, August 23rd. The shares were 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 owns 11,755 shares of the company’s stock, valued at $1,220,874.30. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.37% of the stock is owned by corporate insiders.

Analyst Ratings Changes

Several brokerages have recently commented on CL. Deutsche Bank Aktiengesellschaft downgraded shares of Colgate-Palmolive from a “buy” rating to a “hold” rating and raised their price objective for the company from $107.00 to $109.00 in a research report on Monday, September 9th. Jefferies Financial Group downgraded Colgate-Palmolive from a “buy” rating to a “hold” rating and lowered their price objective for the company from $103.00 to $95.00 in a research report on Wednesday, July 24th. Morgan Stanley increased their target price on Colgate-Palmolive from $103.00 to $111.00 and gave the stock an “overweight” rating in a research report on Monday, July 29th. UBS Group boosted their target price on Colgate-Palmolive from $119.00 to $122.00 and gave the stock a “buy” rating in a research report on Wednesday, September 4th. Finally, Barclays increased their price target on Colgate-Palmolive from $91.00 to $96.00 and gave the company an “equal weight” rating in a research note on Monday, July 29th. One equities research analyst has rated the stock with a sell rating, nine have given a hold rating and thirteen have given a buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $105.11.

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.