Clearbridge Investments LLC reduced its position in Colgate-Palmolive (NYSE:CL) by 6.9% during the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 627,971 shares of the company’s stock after selling 46,762 shares during the period. Clearbridge Investments LLC owned 0.07% of Colgate-Palmolive worth $47,380,000 at the end of the most recent quarter.
Several other large investors have also recently added to or reduced their stakes in CL. Jacobi Capital Management LLC boosted its holdings in shares of Colgate-Palmolive by 125.5% in the 3rd quarter. Jacobi Capital Management LLC now owns 1,443 shares of the company’s stock valued at $104,000 after buying an additional 803 shares in the last quarter. Krilogy Financial LLC boosted its stake in Colgate-Palmolive by 23.0% in the 2nd quarter. Krilogy Financial LLC now owns 1,547 shares of the company’s stock worth $115,000 after purchasing an additional 289 shares in the last quarter. Captrust Financial Advisors acquired a new stake in Colgate-Palmolive in the 2nd quarter worth approximately $122,000. Bruderman Asset Management LLC acquired a new stake in Colgate-Palmolive in the 2nd quarter worth approximately $126,000. Finally, Calton & Associates Inc. acquired a new stake in Colgate-Palmolive in the 4th quarter worth approximately $126,000. Institutional investors and hedge funds own 73.87% of the company’s stock.
Colgate-Palmolive (CL) opened at $70.87 on Wednesday. Colgate-Palmolive has a 1 year low of $68.19 and a 1 year high of $77.91. The company has a debt-to-equity ratio of 27.02, a quick ratio of 1.00 and a current ratio of 1.36. The stock has a market cap of $62,218.23, a P/E ratio of 24.77, a price-to-earnings-growth ratio of 2.63 and a beta of 0.79.
The firm also recently declared a quarterly dividend, which will be paid on Tuesday, May 15th. Shareholders of record on Friday, April 20th will be given a dividend of $0.42 per share. The ex-dividend date of this dividend is Thursday, April 19th. This is a positive change from Colgate-Palmolive’s previous quarterly dividend of $0.40. This represents a $1.68 dividend on an annualized basis and a yield of 2.37%. Colgate-Palmolive’s dividend payout ratio (DPR) is currently 70.18%.
A number of research firms recently commented on CL. Citigroup lifted their target price on shares of Colgate-Palmolive from $75.00 to $80.00 and gave the stock a “neutral” rating in a research note on Tuesday, January 30th. BNP Paribas cut shares of Colgate-Palmolive from an “outperform” rating to an “underperform” rating in a research note on Tuesday, January 30th. Jefferies Group reiterated a “hold” rating and issued a $79.00 target price on shares of Colgate-Palmolive in a research note on Friday, January 26th. Zacks Investment Research upgraded shares of Colgate-Palmolive from a “hold” rating to a “buy” rating and set a $83.00 target price for the company in a research note on Tuesday, January 16th. Finally, Macquarie upgraded shares of Colgate-Palmolive from a “neutral” rating to an “outperform” rating and set a $81.00 target price for the company in a research note on Tuesday, December 19th. Three investment analysts have rated the stock with a sell rating, ten have assigned a hold rating and five have given a buy rating to the company. Colgate-Palmolive currently has an average rating of “Hold” and an average target price of $77.91.
In other news, COO Justin Skala sold 4,161 shares of Colgate-Palmolive stock in a transaction that occurred on Tuesday, February 20th. The shares were sold at an average price of $70.18, for a total transaction of $292,018.98. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Daniel B. Marsili sold 5,692 shares of Colgate-Palmolive stock in a transaction that occurred on Wednesday, February 21st. The shares were sold at an average price of $70.19, for a total transaction of $399,521.48. Following the transaction, the insider now directly owns 41,677 shares of the company’s stock, valued at $2,925,308.63. The disclosure for this sale can be found here. Insiders have sold a total of 455,707 shares of company stock valued at $32,443,427 over the last three months. 1.02% of the stock is currently owned by insiders.
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Colgate-Palmolive Company (Colgate) is a consumer products company. The Company operates in two product segments: Oral, Personal and Home Care, and Pet Nutrition. The Oral, Personal and Home Care product segment is operated through five geographic segments, which include North America, Latin America, Europe, Asia Pacific and Africa/Eurasia.
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