Morse Asset Management Inc Trims Holdings in Colgate-Palmolive (NYSE:CL)

Morse Asset Management Inc reduced its holdings in Colgate-Palmolive (NYSE:CL) by 7.7% during the third quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 6,000 shares of the company’s stock after selling 500 shares during the quarter. Morse Asset Management Inc’s holdings in Colgate-Palmolive were worth $623,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. IHT Wealth Management LLC lifted its position in shares of Colgate-Palmolive by 37.8% in the 3rd quarter. IHT Wealth Management LLC now owns 21,377 shares of the company’s stock worth $2,196,000 after purchasing an additional 5,869 shares during the period. Investment Management Corp of Ontario boosted its position in shares of Colgate-Palmolive by 403.3% during the third quarter. Investment Management Corp of Ontario now owns 182,286 shares of the company’s stock valued at $18,923,000 after purchasing an additional 146,068 shares in the last quarter. Jacobs Levy Equity Management Inc. grew its stake in Colgate-Palmolive by 864.1% in the third quarter. Jacobs Levy Equity Management Inc. now owns 777,854 shares of the company’s stock worth $80,749,000 after purchasing an additional 697,168 shares during the period. HighTower Advisors LLC raised its holdings in Colgate-Palmolive by 4.8% in the third quarter. HighTower Advisors LLC now owns 970,040 shares of the company’s stock worth $100,689,000 after purchasing an additional 44,482 shares in the last quarter. Finally, Hilltop Holdings Inc. purchased a new stake in shares of Colgate-Palmolive in the 3rd quarter worth about $3,009,000. Institutional investors own 80.41% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts recently weighed in on the company. JPMorgan Chase & Co. raised their price objective on Colgate-Palmolive from $113.00 to $114.00 and gave the company an “overweight” rating in a research report on Friday, October 11th. Piper Sandler assumed coverage on shares of Colgate-Palmolive in a research note on Tuesday, September 24th. They set an “overweight” rating and a $121.00 price objective for the company. Deutsche Bank Aktiengesellschaft downgraded shares of Colgate-Palmolive from a “buy” rating to a “hold” rating and upped their target price for the stock from $107.00 to $109.00 in a research note on Monday, September 9th. 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. Finally, StockNews.com upgraded Colgate-Palmolive from a “hold” rating to a “buy” rating in a research note on Monday, November 25th. One 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’s stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $105.11.

Colgate-Palmolive Stock Down 2.6 %

Shares of CL stock opened at $94.61 on Wednesday. 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 one year low of $75.50 and a one year high of $109.30. The company’s fifty day moving average price is $97.07 and its 200-day moving average price is $98.66. The company has a market capitalization of $77.30 billion, a price-to-earnings ratio of 27.11, a PEG ratio of 3.47 and a beta of 0.43.

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

Insider Buying and Selling at Colgate-Palmolive

In related news, CFO Stanley J. Sutula III sold 45,410 shares of Colgate-Palmolive 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 transaction, the chief financial officer now owns 36,726 shares in the company, valued at approximately $3,456,283.86. This trade represents a 55.29 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Insiders own 0.37% of the company’s stock.

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.