Drive Wealth Management LLC Buys 211 Shares of Colgate-Palmolive (NYSE:CL)

Drive Wealth Management LLC raised its stake in shares of Colgate-Palmolive (NYSE:CL) by 9.5% in the third quarter, according to the company in its most recent disclosure with the SEC. The firm owned 2,432 shares of the company’s stock after acquiring an additional 211 shares during the quarter. Drive Wealth Management LLC’s holdings in Colgate-Palmolive were worth $252,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Main Street Research LLC grew its stake in shares of Colgate-Palmolive by 1.5% during the second quarter. Main Street Research LLC now owns 6,939 shares of the company’s stock worth $673,000 after buying an additional 100 shares during the last quarter. Advisor OS LLC grew its position in Colgate-Palmolive by 4.5% during the 2nd quarter. Advisor OS LLC now owns 2,348 shares of the company’s stock worth $228,000 after acquiring an additional 101 shares during the last quarter. BLB&B Advisors LLC increased its holdings in Colgate-Palmolive by 2.5% in the 2nd quarter. BLB&B Advisors LLC now owns 4,337 shares of the company’s stock worth $421,000 after purchasing an additional 104 shares in the last quarter. D Orazio & Associates Inc. boosted its stake in shares of Colgate-Palmolive by 3.9% during the third quarter. D Orazio & Associates Inc. now owns 2,862 shares of the company’s stock valued at $297,000 after purchasing an additional 108 shares in the last quarter. Finally, ZWJ Investment Counsel Inc. grew its holdings in shares of Colgate-Palmolive by 3.1% during the second quarter. ZWJ Investment Counsel Inc. now owns 3,591 shares of the company’s stock worth $349,000 after purchasing an additional 109 shares during the last quarter. Institutional investors and hedge funds own 80.41% of the company’s stock.

Colgate-Palmolive Price Performance

NYSE CL opened at $94.65 on Tuesday. The company has a debt-to-equity ratio of 9.46, a current ratio of 1.04 and a quick ratio of 0.68. Colgate-Palmolive has a 1-year low of $75.17 and a 1-year high of $109.30. The stock has a market capitalization of $77.33 billion, a price-to-earnings ratio of 27.12, a PEG ratio of 3.34 and a beta of 0.42. The business’s fifty day moving average price is $99.06 and its 200-day moving average price is $98.55.

Colgate-Palmolive Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, November 15th. Shareholders of record on Friday, October 18th were issued a dividend of $0.50 per share. The ex-dividend date was Friday, October 18th. This represents a $2.00 dividend on an annualized basis and a yield of 2.11%. Colgate-Palmolive’s dividend payout ratio is currently 57.31%.

Insider Transactions at Colgate-Palmolive

In other news, Director Martina Hundmejean sold 2,313 shares of the firm’s stock in a transaction dated Friday, August 23rd. The stock was sold at an average price of $103.86, for a total transaction of $240,228.18. Following the completion of the transaction, the director now owns 11,755 shares in the company, valued at $1,220,874.30. This trade represents a 16.44 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CFO Stanley J. Sutula III sold 45,410 shares of the business’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 in the company, valued at $3,456,283.86. This represents a 55.29 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.34% of the stock is currently owned by company insiders.

Analyst Ratings Changes

CL has been the subject of several analyst reports. Jefferies Financial Group downgraded shares of Colgate-Palmolive from a “buy” rating to a “hold” rating and dropped their price target for the company from $103.00 to $95.00 in a research note on Wednesday, July 24th. TD Cowen cut their target price on Colgate-Palmolive from $115.00 to $110.00 and set a “buy” rating on the stock in a report on Monday, October 28th. Hsbc Global Res lowered Colgate-Palmolive from a “strong-buy” rating to a “hold” rating in a research report on Friday, July 26th. Piper Sandler began coverage on Colgate-Palmolive in a research note on Tuesday, September 24th. They issued an “overweight” rating and a $121.00 price objective on the stock. Finally, JPMorgan Chase & Co. increased their target price on shares of Colgate-Palmolive from $113.00 to $114.00 and gave the company an “overweight” rating in a research report on Friday, October 11th. One equities research analyst has rated the stock with a sell rating, nine have issued a hold rating and thirteen have given a buy rating to the company. Based on data from MarketBeat, Colgate-Palmolive currently has a consensus rating of “Moderate Buy” and a consensus target price 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.