Cornerstone Wealth Management LLC Buys 699 Shares of Colgate-Palmolive (NYSE:CL)

Cornerstone Wealth Management LLC lifted its stake in shares of Colgate-Palmolive (NYSE:CL) by 8.5% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 8,925 shares of the company’s stock after acquiring an additional 699 shares during the quarter. Cornerstone Wealth Management LLC’s holdings in Colgate-Palmolive were worth $811,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also added to or reduced their stakes in CL. Reston Wealth Management LLC bought a new position in Colgate-Palmolive during the 3rd quarter worth approximately $42,000. Capital Performance Advisors LLP acquired a new stake in shares of Colgate-Palmolive during the third quarter worth $53,000. Prospera Private Wealth LLC bought a new position in Colgate-Palmolive during the third quarter worth $64,000. True Wealth Design LLC lifted its holdings in Colgate-Palmolive by 1,460.9% in the third quarter. True Wealth Design LLC now owns 718 shares of the company’s stock valued at $75,000 after buying an additional 672 shares during the period. Finally, Continuum Advisory LLC boosted its position in Colgate-Palmolive by 93.4% during the third quarter. Continuum Advisory LLC now owns 762 shares of the company’s stock valued at $79,000 after acquiring an additional 368 shares during the last quarter. 80.41% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of research analysts have recently issued reports on the company. Barclays dropped their price objective on Colgate-Palmolive from $96.00 to $83.00 and set an “equal weight” rating on the stock in a research note on Friday, January 17th. StockNews.com cut Colgate-Palmolive from a “buy” rating to a “hold” rating in a report on Thursday, January 9th. Wells Fargo & Company reduced their price objective on shares of Colgate-Palmolive from $92.00 to $83.00 and set an “underweight” rating for the company in a research report on Tuesday, January 7th. Piper Sandler dropped their target price on shares of Colgate-Palmolive from $121.00 to $112.00 and set an “overweight” rating on the stock in a research report on Monday, January 6th. Finally, JPMorgan Chase & Co. reduced their price target on shares of Colgate-Palmolive from $109.00 to $103.00 and set an “overweight” rating for the company in a report on Thursday, January 16th. One investment analyst has rated the stock with a sell rating, ten have issued a hold rating and twelve have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $101.11.

Insider Buying and Selling

In related news, CFO Stanley J. Sutula III sold 45,410 shares of Colgate-Palmolive stock in a transaction on Tuesday, November 5th. The stock was 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 trade represents a 55.29 % decrease in their ownership of the stock. The sale 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 Trading Down 0.0 %

NYSE CL opened at $87.88 on Friday. The company has a current ratio of 1.04, a quick ratio of 0.68 and a debt-to-equity ratio of 9.46. The business has a fifty day simple moving average of $91.81 and a 200 day simple moving average of $97.44. Colgate-Palmolive has a 12 month low of $80.03 and a 12 month high of $109.30. The firm has a market capitalization of $71.79 billion, a P/E ratio of 25.18, a PEG ratio of 3.59 and a beta of 0.44.

Colgate-Palmolive Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, February 14th. Investors of record on Tuesday, January 21st will be given a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a dividend yield of 2.28%. The ex-dividend date is Tuesday, January 21st. Colgate-Palmolive’s payout ratio is currently 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.