Avestar Capital LLC Purchases 394 Shares of Colgate-Palmolive (NYSE:CL)

Avestar Capital LLC raised its holdings in Colgate-Palmolive (NYSE:CL) by 9.6% during the 3rd quarter, HoldingsChannel.com reports. The fund owned 4,493 shares of the company’s stock after acquiring an additional 394 shares during the quarter. Avestar Capital LLC’s holdings in Colgate-Palmolive were worth $466,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Gordian Advisors LLC purchased a new position in Colgate-Palmolive in the third quarter worth $602,000. Carrera Capital Advisors boosted its position in Colgate-Palmolive by 23.1% during the third quarter. Carrera Capital Advisors now owns 39,170 shares of the company’s stock valued at $4,066,000 after buying an additional 7,353 shares during the period. Vontobel Holding Ltd. boosted its holdings in Colgate-Palmolive by 224.6% during the 3rd quarter. Vontobel Holding Ltd. now owns 795,938 shares of the company’s stock valued at $82,626,000 after acquiring an additional 550,750 shares during the period. PGGM Investments grew its holdings in shares of Colgate-Palmolive by 171.8% in the second quarter. PGGM Investments now owns 157,608 shares of the company’s stock worth $15,294,000 after purchasing an additional 99,624 shares during the last quarter. Finally, QRG Capital Management Inc. grew its holdings in Colgate-Palmolive by 11.2% in the 2nd quarter. QRG Capital Management Inc. now owns 57,275 shares of the company’s stock worth $5,558,000 after acquiring an additional 5,751 shares during the last quarter. Hedge funds and other institutional investors own 80.41% of the company’s stock.

Insider Buying and Selling at Colgate-Palmolive

In other Colgate-Palmolive news, CFO Stanley J. Sutula III sold 45,410 shares of the business’s stock in a transaction that occurred on 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 of the company’s stock, valued at $3,456,283.86. The trade was a 55.29 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Insiders own 0.37% of the company’s stock.

Analyst Ratings Changes

Several equities analysts have recently issued reports on CL shares. Piper Sandler initiated coverage on Colgate-Palmolive in a research note on Tuesday, September 24th. They set an “overweight” rating and a $121.00 target price on the stock. Stifel Nicolaus lowered Colgate-Palmolive from a “buy” rating to a “hold” rating and decreased their target price for the stock from $105.00 to $101.00 in a research report on Monday, October 28th. UBS Group lifted their price target on Colgate-Palmolive from $119.00 to $122.00 and gave the company a “buy” rating in a research report on Wednesday, September 4th. StockNews.com raised Colgate-Palmolive from a “hold” rating to a “buy” rating in a research report on Monday. Finally, Wells Fargo & Company decreased their price target on shares of Colgate-Palmolive from $100.00 to $92.00 and set an “underweight” rating for the company in a research note on Monday, October 28th. One analyst has rated the stock with a sell rating, nine have assigned a hold rating and thirteen have assigned a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $105.11.

Colgate-Palmolive Stock Up 1.3 %

CL stock opened at $96.59 on Wednesday. Colgate-Palmolive has a fifty-two week low of $75.50 and a fifty-two week high of $109.30. The company has a market cap of $78.91 billion, a price-to-earnings ratio of 27.68, a P/E/G ratio of 3.40 and a beta of 0.42. 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 business’s 50-day moving average is $97.74 and its two-hundred day moving average is $98.59.

Colgate-Palmolive Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, November 15th. Shareholders of record on Friday, October 18th were paid a $0.50 dividend. The ex-dividend date of this dividend was Friday, October 18th. This represents a $2.00 dividend on an annualized basis and a yield of 2.07%. Colgate-Palmolive’s payout ratio is presently 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.