Townsquare Capital LLC Acquires 29,157 Shares of Colgate-Palmolive (NYSE:CL)

Townsquare Capital LLC raised its holdings in Colgate-Palmolive (NYSE:CL) by 111.3% in the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 55,350 shares of the company’s stock after purchasing an additional 29,157 shares during the period. Townsquare Capital LLC’s holdings in Colgate-Palmolive were worth $5,746,000 at the end of the most recent quarter.

Other institutional investors have also recently bought and sold shares of the company. Avestar Capital LLC grew its holdings in shares of Colgate-Palmolive by 9.6% during the 3rd quarter. Avestar Capital LLC now owns 4,493 shares of the company’s stock worth $466,000 after purchasing an additional 394 shares in the last quarter. Brooklyn Investment Group grew its stake in Colgate-Palmolive by 8.5% during the third quarter. Brooklyn Investment Group now owns 5,159 shares of the company’s stock worth $536,000 after buying an additional 406 shares in the last quarter. FMR LLC increased its holdings in Colgate-Palmolive by 65.6% in the 3rd quarter. FMR LLC now owns 6,749,275 shares of the company’s stock valued at $700,642,000 after buying an additional 2,674,807 shares during the period. The Manufacturers Life Insurance Company lifted its holdings in shares of Colgate-Palmolive by 36.9% during the 3rd quarter. The Manufacturers Life Insurance Company now owns 954,570 shares of the company’s stock worth $99,094,000 after acquiring an additional 257,361 shares during the period. Finally, Horizon Kinetics Asset Management LLC boosted its position in shares of Colgate-Palmolive by 4.2% during the 3rd quarter. Horizon Kinetics Asset Management LLC now owns 3,102 shares of the company’s stock worth $322,000 after acquiring an additional 124 shares in the last quarter. Institutional investors own 80.41% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages recently issued reports on CL. JPMorgan Chase & Co. lifted their price objective on shares of Colgate-Palmolive from $113.00 to $114.00 and gave the company an “overweight” rating in a research note on Friday, October 11th. Stifel Nicolaus cut shares of Colgate-Palmolive from a “buy” rating to a “hold” rating and decreased their price objective for the company from $105.00 to $101.00 in a research note on Monday, October 28th. Redburn Atlantic raised shares of Colgate-Palmolive to a “hold” rating in a research note on Thursday, August 1st. TD Cowen decreased their price objective on shares of Colgate-Palmolive from $115.00 to $110.00 and set a “buy” rating on the stock in a research note on Monday, October 28th. Finally, Piper Sandler began coverage on shares of Colgate-Palmolive in a research note on Tuesday, September 24th. They issued an “overweight” rating and a $121.00 price objective on the stock. One equities research analyst has rated the stock with a sell rating, nine have issued a hold rating and thirteen have issued a buy rating to the stock. According to data from MarketBeat.com, Colgate-Palmolive presently has an average rating of “Moderate Buy” and a consensus price target of $105.11.

Colgate-Palmolive Price Performance

Shares of NYSE:CL opened at $96.76 on Friday. The firm has a market cap of $79.05 billion, a PE ratio of 27.73, a price-to-earnings-growth ratio of 3.40 and a beta of 0.42. The firm’s fifty day moving average is $97.51 and its 200-day moving average is $98.57. The company has a debt-to-equity ratio of 9.46, a quick ratio of 0.68 and a current ratio of 1.04. Colgate-Palmolive has a 52 week low of $75.50 and a 52 week high of $109.30.

Colgate-Palmolive Announces Dividend

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

Insider Activity at Colgate-Palmolive

In related news, CFO Stanley J. Sutula III sold 45,410 shares of the business’s stock in a transaction on Tuesday, November 5th. The shares were sold at an average price of $94.11, for a total value of $4,273,535.10. Following the transaction, the chief financial officer now owns 36,726 shares in the company, valued at $3,456,283.86. The trade was a 55.29 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.37% of the stock is owned by company insiders.

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.