Bruce G. Allen Investments LLC Increases Stock Holdings in Colgate-Palmolive (NYSE:CL)

Bruce G. Allen Investments LLC increased its stake in Colgate-Palmolive (NYSE:CL) by 5.6% in the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 5,596 shares of the company’s stock after acquiring an additional 295 shares during the quarter. Bruce G. Allen Investments LLC’s holdings in Colgate-Palmolive were worth $509,000 at the end of the most recent reporting period.

A number of other large investors also recently added to or reduced their stakes in CL. Gordian Advisors LLC acquired a new position in Colgate-Palmolive in the 3rd quarter valued at $602,000. Carrera Capital Advisors raised its position in shares of 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 buying an additional 7,353 shares during the last quarter. Vontobel Holding Ltd. lifted its stake in shares of Colgate-Palmolive by 224.6% in the third quarter. Vontobel Holding Ltd. now owns 795,938 shares of the company’s stock worth $82,626,000 after buying an additional 550,750 shares in the last quarter. Handelsbanken Fonder AB grew its stake in Colgate-Palmolive by 10.9% during the 3rd quarter. Handelsbanken Fonder AB now owns 332,972 shares of the company’s stock valued at $34,566,000 after acquiring an additional 32,624 shares in the last quarter. Finally, Barclays PLC raised its holdings in Colgate-Palmolive by 38.7% in the 3rd quarter. Barclays PLC now owns 7,644,189 shares of the company’s stock valued at $793,542,000 after acquiring an additional 2,132,747 shares during the last quarter. 80.41% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of equities research analysts have recently issued reports on CL shares. Piper Sandler dropped their price target on Colgate-Palmolive from $121.00 to $112.00 and set an “overweight” rating for the company in a research report on Monday. StockNews.com cut Colgate-Palmolive from a “buy” rating to a “hold” rating in a report on Thursday. JPMorgan Chase & Co. lifted their price target on Colgate-Palmolive from $113.00 to $114.00 and gave the stock an “overweight” rating in a report on Friday, October 11th. TD Cowen cut their price objective 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. Finally, Wells Fargo & Company decreased their target price on shares of Colgate-Palmolive from $92.00 to $83.00 and set an “underweight” rating on the stock in a report on Tuesday. One equities research analyst has rated the stock with a sell rating, ten have given a hold rating and twelve have given a buy rating to the company. According to MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $103.63.

Insider Buying and Selling at Colgate-Palmolive

In other news, CFO Stanley J. Sutula III sold 45,410 shares of the 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 transaction, the chief financial officer now owns 36,726 shares in the company, valued at approximately $3,456,283.86. This represents a 55.29 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. 0.34% of the stock is owned by corporate insiders.

Colgate-Palmolive Stock Down 1.3 %

CL stock traded down $1.10 during midday trading on Friday, hitting $86.36. The company’s stock had a trading volume of 3,725,691 shares, compared to its average volume of 4,246,328. Colgate-Palmolive has a 52-week low of $79.69 and a 52-week high of $109.30. The firm has a 50-day simple moving average of $92.76 and a 200-day simple moving average of $98.15. 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 firm has a market capitalization of $70.56 billion, a P/E ratio of 24.75, a PEG ratio of 3.31 and a beta of 0.44.

Colgate-Palmolive Dividend Announcement

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 issued a dividend of $0.50 per share. The ex-dividend date is Tuesday, January 21st. This represents a $2.00 annualized dividend and a yield of 2.32%. Colgate-Palmolive’s dividend payout ratio (DPR) is 57.31%.

Colgate-Palmolive Company 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.