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

Martingale Asset Management L P lowered its stake in Colgate-Palmolive (NYSE:CL) by 28.9% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 254,563 shares of the company’s stock after selling 103,570 shares during the period. Martingale Asset Management L P’s holdings in Colgate-Palmolive were worth $26,426,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds also recently bought and sold shares of the company. B. Riley Wealth Advisors Inc. raised its position in shares of Colgate-Palmolive by 0.8% during the 1st quarter. B. Riley Wealth Advisors Inc. now owns 16,639 shares of the company’s stock worth $1,498,000 after acquiring an additional 138 shares in the last quarter. Atria Investments Inc grew its stake in Colgate-Palmolive by 3.2% during the 1st quarter. Atria Investments Inc now owns 67,625 shares of the company’s stock worth $6,090,000 after buying an additional 2,115 shares during the last quarter. Burney Co. grew its stake in Colgate-Palmolive by 11.0% during the 1st quarter. Burney Co. now owns 21,813 shares of the company’s stock worth $1,964,000 after buying an additional 2,160 shares during the last quarter. Cetera Investment Advisers grew its stake in Colgate-Palmolive by 254.0% during the 1st quarter. Cetera Investment Advisers now owns 149,180 shares of the company’s stock worth $13,434,000 after buying an additional 107,041 shares during the last quarter. Finally, Cetera Advisors LLC grew its stake in Colgate-Palmolive by 105.3% during the 1st quarter. Cetera Advisors LLC now owns 49,362 shares of the company’s stock worth $4,445,000 after buying an additional 25,315 shares during the last quarter. Institutional investors and hedge funds own 80.41% of the company’s stock.

Insider Transactions at Colgate-Palmolive

In other news, CFO Stanley J. Sutula III sold 45,410 shares of the company’s stock in a transaction dated Tuesday, November 5th. The stock was sold at an average price of $94.11, for a total value 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. This represents a 55.29 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Company insiders own 0.34% of the company’s stock.

Colgate-Palmolive Price Performance

CL stock opened at $96.76 on Friday. The stock has a 50-day moving average price of $97.51 and a two-hundred day moving average price of $98.57. Colgate-Palmolive has a 12-month low of $75.50 and a 12-month high of $109.30. The company has a current ratio of 1.04, a quick ratio of 0.68 and a debt-to-equity ratio of 9.46. The company has a market cap of $79.05 billion, a PE ratio of 27.73, a price-to-earnings-growth ratio of 3.45 and a beta of 0.42.

Colgate-Palmolive Announces Dividend

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

Analyst Ratings Changes

Several research analysts have weighed in on CL shares. Deutsche Bank Aktiengesellschaft downgraded Colgate-Palmolive from a “buy” rating to a “hold” rating and lifted their target price for the company from $107.00 to $109.00 in a research note on Monday, September 9th. Redburn Atlantic upgraded Colgate-Palmolive to a “hold” rating in a research note on Thursday, August 1st. UBS Group lifted their target price on Colgate-Palmolive from $119.00 to $122.00 and gave the company a “buy” rating in a research note on Wednesday, September 4th. StockNews.com upgraded Colgate-Palmolive from a “hold” rating to a “buy” rating in a research note on Monday. Finally, Stifel Nicolaus downgraded Colgate-Palmolive from a “buy” rating to a “hold” rating and decreased their price target for the company from $105.00 to $101.00 in a research note on Monday, October 28th. One research 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.com, the company 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.