Ritholtz Wealth Management Raises Position in Colgate-Palmolive (NYSE:CL)

Ritholtz Wealth Management boosted its stake in Colgate-Palmolive (NYSE:CL) by 11.6% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 68,745 shares of the company’s stock after buying an additional 7,123 shares during the period. Ritholtz Wealth Management’s holdings in Colgate-Palmolive were worth $6,250,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of the stock. Reston Wealth Management LLC purchased a new position in Colgate-Palmolive in the 3rd quarter worth approximately $42,000. Capital Performance Advisors LLP purchased a new position in Colgate-Palmolive in the 3rd quarter worth approximately $53,000. Prospera Private Wealth LLC purchased a new position in Colgate-Palmolive in the 3rd quarter worth approximately $64,000. True Wealth Design LLC raised its holdings in Colgate-Palmolive by 1,460.9% in the 3rd quarter. True Wealth Design LLC now owns 718 shares of the company’s stock worth $75,000 after acquiring an additional 672 shares during the last quarter. Finally, Continuum Advisory LLC raised its holdings in Colgate-Palmolive by 93.4% in the 3rd quarter. Continuum Advisory LLC now owns 762 shares of the company’s stock worth $79,000 after acquiring an additional 368 shares during the last quarter. 80.41% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

CL has been the subject of a number of recent analyst reports. Stifel Nicolaus lowered shares of Colgate-Palmolive from a “buy” rating to a “hold” rating and decreased their price objective for the stock from $105.00 to $101.00 in a report on Monday, October 28th. Piper Sandler cut their target price on shares of Colgate-Palmolive from $121.00 to $112.00 and set an “overweight” rating for the company in a research report on Monday, January 6th. StockNews.com downgraded shares of Colgate-Palmolive from a “buy” rating to a “hold” rating in a research report on Thursday, January 9th. JPMorgan Chase & Co. cut their target price on shares of Colgate-Palmolive from $109.00 to $103.00 and set an “overweight” rating for the company in a research report on Thursday. Finally, TD Cowen cut their target price 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. One equities research analyst has rated the stock with a sell rating, ten have given a hold rating and twelve have issued a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $102.11.

Insiders Place Their Bets

In other news, CFO Stanley J. Sutula III sold 45,410 shares of the company’s stock in a transaction dated 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 approximately $3,456,283.86. This represents a 55.29 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 0.37% of the company’s stock.

Colgate-Palmolive Stock Up 0.9 %

Shares of CL stock opened at $88.61 on Friday. The stock has a market cap of $72.40 billion, a P/E ratio of 25.39, a PEG ratio of 3.01 and a beta of 0.44. Colgate-Palmolive has a 52 week low of $79.69 and a 52 week high of $109.30. 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 company’s fifty day simple moving average is $92.32 and its two-hundred day simple moving average is $97.85.

Colgate-Palmolive Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, February 14th. Shareholders of record on Tuesday, January 21st will be paid a $0.50 dividend. This represents a $2.00 annualized dividend and a yield of 2.26%. The ex-dividend date of this dividend is Tuesday, January 21st. Colgate-Palmolive’s payout ratio is currently 57.31%.

Colgate-Palmolive 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.