Colgate-Palmolive (NYSE:CL) Shares Sold by MAI Capital Management

MAI Capital Management reduced its position in shares of Colgate-Palmolive (NYSE:CL) by 33.0% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 26,075 shares of the company’s stock after selling 12,828 shares during the period. MAI Capital Management’s holdings in Colgate-Palmolive were worth $2,707,000 at the end of the most recent quarter.

A number of other institutional investors also recently bought and sold shares of the company. Gordian Advisors LLC purchased a new stake in shares of Colgate-Palmolive during the 3rd quarter valued at approximately $602,000. Carrera Capital Advisors raised its position in Colgate-Palmolive by 23.1% in the third quarter. Carrera Capital Advisors now owns 39,170 shares of the company’s stock valued at $4,066,000 after purchasing an additional 7,353 shares during the period. Vontobel Holding Ltd. lifted its stake in shares of Colgate-Palmolive by 224.6% in the 3rd quarter. Vontobel Holding Ltd. now owns 795,938 shares of the company’s stock valued at $82,626,000 after purchasing an additional 550,750 shares during the last quarter. PGGM Investments grew its holdings in shares of Colgate-Palmolive by 171.8% during the 2nd quarter. PGGM Investments now owns 157,608 shares of the company’s stock worth $15,294,000 after purchasing an additional 99,624 shares during the period. Finally, QRG Capital Management Inc. increased its position in shares of Colgate-Palmolive by 11.2% during the 2nd quarter. QRG Capital Management Inc. now owns 57,275 shares of the company’s stock worth $5,558,000 after purchasing an additional 5,751 shares during the last quarter. 80.41% of the stock is owned by hedge funds and other institutional investors.

Colgate-Palmolive Stock Performance

NYSE:CL opened at $93.61 on Wednesday. Colgate-Palmolive has a 12 month low of $75.17 and a 12 month high of $109.30. The company has a debt-to-equity ratio of 9.46, a current ratio of 1.04 and a quick ratio of 0.68. The firm has a market capitalization of $76.48 billion, a PE ratio of 26.82, a price-to-earnings-growth ratio of 3.34 and a beta of 0.42. The business’s fifty day moving average price is $98.80 and its 200 day moving average price is $98.56.

Colgate-Palmolive Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, November 15th. Stockholders 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 dividend yield of 2.14%. Colgate-Palmolive’s payout ratio is currently 57.31%.

Insider Transactions at Colgate-Palmolive

In related news, Director Martina Hundmejean sold 2,313 shares of Colgate-Palmolive stock in a transaction on Friday, August 23rd. The shares were sold at an average price of $103.86, for a total transaction of $240,228.18. Following the sale, the director now directly owns 11,755 shares in the company, valued at $1,220,874.30. This trade represents a 16.44 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Stanley J. Sutula III sold 45,410 shares of the company’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 completion of the transaction, 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 position. The disclosure for this sale can be found here. Corporate insiders own 0.37% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms have commented on CL. Morgan Stanley upped their target price on shares of Colgate-Palmolive from $103.00 to $111.00 and gave the company an “overweight” rating in a research report on Monday, July 29th. JPMorgan Chase & Co. upped their price objective on shares of Colgate-Palmolive from $113.00 to $114.00 and gave the stock an “overweight” rating in a report on Friday, October 11th. TD Cowen dropped their target price on shares of Colgate-Palmolive from $115.00 to $110.00 and set a “buy” rating for the company in a report on Monday, October 28th. Stifel Nicolaus cut Colgate-Palmolive from a “buy” rating to a “hold” rating and decreased their price target for the stock from $105.00 to $101.00 in a research note on Monday, October 28th. Finally, StockNews.com upgraded Colgate-Palmolive from a “hold” rating to a “buy” rating in a report on Thursday, November 14th. One investment analyst has rated the stock with a sell rating, nine have issued a hold rating and thirteen have issued a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average 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.