Colgate-Palmolive (NYSE:CL) Shares Bought by Brooklyn Investment Group

Brooklyn Investment Group increased its stake in Colgate-Palmolive (NYSE:CL) by 7.9% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 5,564 shares of the company’s stock after buying an additional 405 shares during the quarter. Brooklyn Investment Group’s holdings in Colgate-Palmolive were worth $506,000 as of its most recent filing with the SEC.

Other hedge funds have also modified their holdings of the company. Envestnet Asset Management Inc. lifted its holdings in Colgate-Palmolive by 16.2% in the 2nd quarter. Envestnet Asset Management Inc. now owns 459,445 shares of the company’s stock worth $44,585,000 after buying an additional 64,123 shares in the last quarter. Edgestream Partners L.P. grew its stake in Colgate-Palmolive by 13.9% during the 2nd quarter. Edgestream Partners L.P. now owns 19,864 shares of the company’s stock valued at $1,928,000 after purchasing an additional 2,423 shares in the last quarter. Mercer Global Advisors Inc. ADV increased its holdings in Colgate-Palmolive by 2.0% during the 2nd quarter. Mercer Global Advisors Inc. ADV now owns 126,759 shares of the company’s stock worth $12,301,000 after purchasing an additional 2,541 shares during the last quarter. XTX Topco Ltd purchased a new position in shares of Colgate-Palmolive during the 2nd quarter valued at approximately $423,000. Finally, Brighton Jones LLC increased its stake in shares of Colgate-Palmolive by 49.4% in the second quarter. Brighton Jones LLC now owns 10,308 shares of the company’s stock worth $1,000,000 after buying an additional 3,410 shares during the last quarter. 80.41% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at Colgate-Palmolive

In other Colgate-Palmolive news, CFO Stanley J. Sutula III sold 45,410 shares of the firm’s stock in a transaction dated 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 completion of the transaction, the chief financial officer now directly owns 36,726 shares in the company, valued at $3,456,283.86. This trade represents a 55.29 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Company insiders own 0.37% of the company’s stock.

Colgate-Palmolive Trading Up 0.3 %

Shares of CL stock opened at $88.79 on Friday. The company has a quick ratio of 0.68, a current ratio of 1.04 and a debt-to-equity ratio of 9.46. The stock has a 50-day simple moving average of $92.27 and a 200 day simple moving average of $97.78. Colgate-Palmolive has a fifty-two week low of $79.69 and a fifty-two week high of $109.30. The stock has a market capitalization of $72.55 billion, a P/E ratio of 25.44, a P/E/G ratio of 3.01 and a beta of 0.44.

Colgate-Palmolive Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, February 14th. Investors of record on Tuesday, January 21st will be issued a $0.50 dividend. The ex-dividend date of this dividend is Tuesday, January 21st. This represents a $2.00 dividend on an annualized basis and a dividend yield of 2.25%. Colgate-Palmolive’s payout ratio is currently 57.31%.

Analyst Upgrades and Downgrades

CL has been the subject of several recent analyst reports. Barclays decreased their price objective on shares of Colgate-Palmolive from $96.00 to $83.00 and set an “equal weight” rating for the company in a report on Friday. Stifel Nicolaus lowered their target price on shares of Colgate-Palmolive from $101.00 to $95.00 and set a “hold” rating for the company in a research note on Friday. Piper Sandler reduced their price target on shares of Colgate-Palmolive from $121.00 to $112.00 and set an “overweight” rating on the stock in a research report on Monday, January 6th. TD Cowen lowered their price objective on shares of Colgate-Palmolive from $110.00 to $100.00 and set a “buy” rating for the company in a research report on Wednesday, January 8th. Finally, Wells Fargo & Company decreased their target price on Colgate-Palmolive from $92.00 to $83.00 and set an “underweight” rating for the company in a research note on Tuesday, January 7th. One analyst has rated the stock with a sell rating, ten have assigned a hold rating and twelve have assigned a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $101.11.

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.