Transamerica Financial Advisors Inc. Lowers Stake in Colgate-Palmolive (NYSE:CL)

Transamerica Financial Advisors Inc. lowered its stake in shares of Colgate-Palmolive (NYSE:CL) by 38.7% during the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 6,335 shares of the company’s stock after selling 3,994 shares during the quarter. Transamerica Financial Advisors Inc.’s holdings in Colgate-Palmolive were worth $658,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. E Fund Management Hong Kong Co. Ltd. purchased a new stake in shares of Colgate-Palmolive during the 2nd quarter valued at $25,000. Continuum Advisory LLC grew its holdings in shares of Colgate-Palmolive by 46.5% during the 2nd quarter. Continuum Advisory LLC now owns 394 shares of the company’s stock valued at $38,000 after purchasing an additional 125 shares during the last quarter. Reston Wealth Management LLC bought a new position in shares of Colgate-Palmolive during the 3rd quarter valued at $42,000. Capital Performance Advisors LLP bought a new position in shares of Colgate-Palmolive during the 3rd quarter valued at $53,000. Finally, Prospera Private Wealth LLC bought a new position in shares of Colgate-Palmolive during the 3rd quarter valued at $64,000. Hedge funds and other institutional investors own 80.41% of the company’s stock.

Analyst Ratings Changes

Several equities analysts recently commented on CL shares. StockNews.com raised shares of Colgate-Palmolive from a “hold” rating to a “buy” rating in a report on Monday. Redburn Atlantic raised shares of Colgate-Palmolive to a “hold” rating in a report on Thursday, August 1st. Wells Fargo & Company cut their price target on shares of Colgate-Palmolive from $100.00 to $92.00 and set an “underweight” rating on the stock in a report on Monday, October 28th. Piper Sandler initiated coverage on Colgate-Palmolive in a research note on Tuesday, September 24th. They issued an “overweight” rating and a $121.00 target price for the company. Finally, Deutsche Bank Aktiengesellschaft cut shares of Colgate-Palmolive from a “buy” rating to a “hold” rating and upped their price objective for the stock from $107.00 to $109.00 in a report on Monday, September 9th. One research analyst has rated the stock with a sell rating, nine have issued a hold rating and thirteen have assigned a buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $105.11.

Insider Activity

In other news, CFO Stanley J. Sutula III sold 45,410 shares of the firm’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 sale, 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 position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 0.37% of the company’s stock.

Colgate-Palmolive Trading Up 1.3 %

Shares of Colgate-Palmolive stock opened at $96.59 on Wednesday. The company’s fifty day simple moving average is $97.74 and its 200-day simple moving average is $98.59. The stock has a market capitalization of $78.91 billion, a PE ratio of 27.68, a P/E/G ratio of 3.40 and a beta of 0.42. Colgate-Palmolive has a 1-year low of $75.50 and a 1-year 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.

Colgate-Palmolive Announces Dividend

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