Martingale Asset Management L P Reduces Holdings in Colgate-Palmolive (NYSE:CL)

Martingale Asset Management L P trimmed its holdings in shares of Colgate-Palmolive (NYSE:CL) by 28.9% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 254,563 shares of the company’s stock after selling 103,570 shares during the quarter. Martingale Asset Management L P’s holdings in Colgate-Palmolive were worth $26,426,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also made changes to their positions in CL. Gordian Advisors LLC bought a new stake in shares of Colgate-Palmolive in the third quarter valued at about $602,000. Carrera Capital Advisors raised its holdings in Colgate-Palmolive by 23.1% in the third quarter. Carrera Capital Advisors now owns 39,170 shares of the company’s stock worth $4,066,000 after purchasing an additional 7,353 shares in the last quarter. Vontobel Holding Ltd. raised its holdings in Colgate-Palmolive by 224.6% in the third quarter. Vontobel Holding Ltd. now owns 795,938 shares of the company’s stock worth $82,626,000 after purchasing an additional 550,750 shares in the last quarter. PGGM Investments raised its holdings in 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 in the last quarter. Finally, QRG Capital Management Inc. raised its holdings in Colgate-Palmolive by 11.2% in the second quarter. QRG Capital Management Inc. now owns 57,275 shares of the company’s stock worth $5,558,000 after purchasing an additional 5,751 shares in the last quarter. 80.41% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of equities analysts have commented on CL shares. JPMorgan Chase & Co. boosted their target price 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. Stifel Nicolaus downgraded shares of Colgate-Palmolive from a “buy” rating to a “hold” rating and reduced their target price for the stock from $105.00 to $101.00 in a report on Monday, October 28th. Piper Sandler initiated coverage on Colgate-Palmolive in a research note on Tuesday, September 24th. They set an “overweight” rating and a $121.00 price target on the stock. Wells Fargo & Company dropped their price target on Colgate-Palmolive from $100.00 to $92.00 and set an “underweight” rating on the stock in a research note on Monday, October 28th. Finally, Deutsche Bank Aktiengesellschaft lowered Colgate-Palmolive from a “buy” rating to a “hold” rating and boosted their price target for the stock from $107.00 to $109.00 in a research note on Monday, September 9th. 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 company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $105.11.

Colgate-Palmolive Stock Up 0.2 %

NYSE CL opened at $96.76 on Friday. 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 has a fifty day moving average price of $97.51 and a 200 day moving average price of $98.57. The company has a market cap of $79.05 billion, a P/E ratio of 27.73, a P/E/G ratio of 3.45 and a beta of 0.42. Colgate-Palmolive has a one year low of $75.50 and a one year high of $109.30.

Colgate-Palmolive Dividend Announcement

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

Insider Buying and Selling at Colgate-Palmolive

In other news, CFO Stanley J. Sutula III sold 45,410 shares of the stock in a transaction 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 completion of the transaction, the chief financial officer now directly owns 36,726 shares in the company, valued at approximately $3,456,283.86. This represents a 55.29 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 0.34% of the stock is owned by company insiders.

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.