Zurcher Kantonalbank Zurich Cantonalbank Buys 30,806 Shares of Colgate-Palmolive (NYSE:CL)

Zurcher Kantonalbank Zurich Cantonalbank grew its stake in Colgate-Palmolive (NYSE:CL) by 6.2% during the third quarter, Holdings Channel reports. The firm owned 527,617 shares of the company’s stock after purchasing an additional 30,806 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in Colgate-Palmolive were worth $54,772,000 as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of CL. E Fund Management Hong Kong Co. Ltd. purchased a new stake in shares of Colgate-Palmolive during the second quarter valued at approximately $25,000. Continuum Advisory LLC increased its position in shares of Colgate-Palmolive by 46.5% during the second quarter. Continuum Advisory LLC now owns 394 shares of the company’s stock valued at $38,000 after acquiring an additional 125 shares during the last quarter. Reston Wealth Management LLC purchased a new stake in shares of Colgate-Palmolive during the third quarter valued at approximately $42,000. Capital Performance Advisors LLP purchased a new stake in shares of Colgate-Palmolive during the third quarter valued at approximately $53,000. Finally, Prospera Private Wealth LLC purchased a new stake in shares of Colgate-Palmolive during the third quarter valued at approximately $64,000. Institutional investors own 80.41% of the company’s stock.

Colgate-Palmolive Price Performance

NYSE:CL opened at $96.75 on Thursday. The firm has a market capitalization of $79.05 billion, a price-to-earnings ratio of 27.72, a P/E/G ratio of 3.40 and a beta of 0.42. Colgate-Palmolive has a 52-week low of $75.50 and a 52-week high of $109.30. The stock has a fifty day moving average of $97.61 and a 200 day moving average of $98.58. 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 Dividend Announcement

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

Insiders Place Their Bets

In other Colgate-Palmolive news, CFO Stanley J. Sutula III sold 45,410 shares of Colgate-Palmolive stock in a transaction dated 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 sale, the chief financial officer now 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 document filed with the SEC, which is available at this hyperlink. Corporate insiders own 0.37% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages recently commented on CL. JPMorgan Chase & Co. increased their price target on Colgate-Palmolive from $113.00 to $114.00 and gave the company an “overweight” rating in a research report on Friday, October 11th. Redburn Atlantic raised Colgate-Palmolive to a “hold” rating in a research report on Thursday, August 1st. Piper Sandler assumed coverage on Colgate-Palmolive in a research report on Tuesday, September 24th. They issued an “overweight” rating and a $121.00 target price for the company. Wells Fargo & Company decreased their target price on Colgate-Palmolive from $100.00 to $92.00 and set an “underweight” rating for the company in a research report on Monday, October 28th. Finally, Deutsche Bank Aktiengesellschaft downgraded Colgate-Palmolive from a “buy” rating to a “hold” rating and raised their target price for the stock from $107.00 to $109.00 in a research report on Monday, September 9th. One research analyst has rated the stock with a sell rating, nine have issued a hold rating and thirteen have assigned a buy rating to the company. Based on data from MarketBeat, Colgate-Palmolive presently has a consensus rating of “Moderate Buy” and an average price target 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.