AMI Asset Management Corp Sells 8,616 Shares of Colgate-Palmolive (NYSE:CL)

AMI Asset Management Corp lowered its stake in Colgate-Palmolive (NYSE:CL) by 2.1% during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 396,588 shares of the company’s stock after selling 8,616 shares during the quarter. Colgate-Palmolive comprises approximately 1.9% of AMI Asset Management Corp’s holdings, making the stock its 24th largest holding. AMI Asset Management Corp’s holdings in Colgate-Palmolive were worth $36,054,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also made changes to their positions in the stock. Reston Wealth Management LLC bought a new position in Colgate-Palmolive during the third quarter valued at approximately $42,000. Capital Performance Advisors LLP purchased a new stake in shares of Colgate-Palmolive during the 3rd quarter worth approximately $53,000. Prospera Private Wealth LLC bought a new position in shares of Colgate-Palmolive during the 3rd quarter valued at approximately $64,000. True Wealth Design LLC grew its holdings in shares of 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 purchasing an additional 672 shares in the last quarter. Finally, Continuum Advisory LLC increased its position in Colgate-Palmolive by 93.4% in the third quarter. Continuum Advisory LLC now owns 762 shares of the company’s stock worth $79,000 after purchasing an additional 368 shares during the last quarter. Institutional investors own 80.41% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages have commented on CL. UBS Group dropped their price objective on shares of Colgate-Palmolive from $112.00 to $104.00 and set a “buy” rating for the company in a research note on Thursday, January 16th. Stifel Nicolaus dropped their price target on Colgate-Palmolive from $101.00 to $95.00 and set a “hold” rating for the company in a research report on Friday. Wells Fargo & Company decreased their price objective on Colgate-Palmolive from $92.00 to $83.00 and set an “underweight” rating on the stock in a research report on Tuesday, January 7th. StockNews.com cut Colgate-Palmolive from a “buy” rating to a “hold” rating in a report on Thursday, January 9th. Finally, TD Cowen decreased their price target on Colgate-Palmolive from $110.00 to $100.00 and set a “buy” rating on the stock in a 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 MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $101.11.

Colgate-Palmolive Stock Up 0.3 %

Shares of NYSE:CL opened at $88.79 on Tuesday. 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 business’s 50 day moving average is $92.13 and its 200 day moving average is $97.71. The stock has a market cap of $72.55 billion, a P/E ratio of 25.44, a price-to-earnings-growth ratio of 3.62 and a beta of 0.44. Colgate-Palmolive has a 52-week low of $79.69 and a 52-week high of $109.30.

Colgate-Palmolive Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, February 14th. Stockholders of record on Tuesday, January 21st will be paid a dividend of $0.50 per share. The ex-dividend date of this dividend is Tuesday, January 21st. This represents a $2.00 annualized dividend and a dividend yield of 2.25%. Colgate-Palmolive’s dividend payout ratio is currently 57.31%.

Insider Activity at Colgate-Palmolive

In related news, CFO Stanley J. Sutula III sold 45,410 shares of the business’s stock in a transaction that occurred on Tuesday, November 5th. The shares were 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 of the company’s stock, valued at $3,456,283.86. The trade was a 55.29 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. 0.37% of the stock is currently owned by corporate insiders.

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.