Cerity Partners LLC Acquires 48,024 Shares of Colgate-Palmolive (NYSE:CL)

Cerity Partners LLC grew its stake in Colgate-Palmolive (NYSE:CL) by 28.6% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 215,839 shares of the company’s stock after buying an additional 48,024 shares during the period. Cerity Partners LLC’s holdings in Colgate-Palmolive were worth $22,406,000 as of its most recent SEC filing.

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

Insider Buying and Selling 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 transaction 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 position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 0.34% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have recently issued reports on the stock. Barclays boosted their price objective on shares of Colgate-Palmolive from $91.00 to $96.00 and gave the stock an “equal weight” rating in a report on Monday, July 29th. Piper Sandler started coverage on Colgate-Palmolive in a research report on Tuesday, September 24th. They issued an “overweight” rating and a $121.00 price objective for the company. Morgan Stanley boosted their price objective on Colgate-Palmolive from $103.00 to $111.00 and gave the company an “overweight” rating in a research report on Monday, July 29th. Stifel Nicolaus cut Colgate-Palmolive from a “buy” rating to a “hold” rating and reduced their target price for the stock from $105.00 to $101.00 in a research report on Monday, October 28th. Finally, Sanford C. Bernstein boosted their price target on shares of Colgate-Palmolive from $100.00 to $103.00 and gave the company a “market perform” rating in a report on Tuesday, July 30th. One equities research analyst has rated the stock with a sell rating, nine have assigned a hold rating and thirteen have issued a buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $105.11.

Colgate-Palmolive Stock Performance

Shares of CL opened at $94.92 on Monday. 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 firm’s fifty day simple moving average is $98.10 and its two-hundred day simple moving average is $98.57. Colgate-Palmolive has a 12 month low of $75.50 and a 12 month high of $109.30. The stock has a market capitalization of $77.55 billion, a P/E ratio of 27.20, a price-to-earnings-growth ratio of 3.36 and a beta of 0.42.

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 $0.50 dividend. The ex-dividend date of this dividend was Friday, October 18th. This represents a $2.00 dividend on an annualized basis and a yield of 2.11%. Colgate-Palmolive’s payout ratio is currently 57.31%.

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.