GAMMA Investing LLC Reduces Stake in Colgate-Palmolive (NYSE:CL)

GAMMA Investing LLC lessened its stake in shares of Colgate-Palmolive (NYSE:CL) by 5.7% during the 4th quarter, Holdings Channel reports. The fund owned 10,329 shares of the company’s stock after selling 623 shares during the quarter. GAMMA Investing LLC’s holdings in Colgate-Palmolive were worth $939,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Reston Wealth Management LLC acquired a new stake in Colgate-Palmolive during the third quarter worth $42,000. Capital Performance Advisors LLP acquired a new stake in shares of Colgate-Palmolive during the 3rd quarter worth about $53,000. Prospera Private Wealth LLC purchased a new stake in Colgate-Palmolive in the 3rd quarter valued at about $64,000. True Wealth Design LLC lifted its position 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 last quarter. Finally, Continuum Advisory LLC boosted its stake in Colgate-Palmolive by 93.4% during the third quarter. Continuum Advisory LLC now owns 762 shares of the company’s stock worth $79,000 after buying an additional 368 shares during the period. Institutional investors and hedge funds own 80.41% of the company’s stock.

Colgate-Palmolive Stock Performance

Shares of CL stock opened at $90.15 on Friday. The company has a market cap of $73.65 billion, a P/E ratio of 25.83, a PEG ratio of 3.31 and a beta of 0.44. The firm has a fifty day moving average price of $93.35 and a 200 day moving average price of $98.42. The company has a current ratio of 1.04, a quick ratio of 0.68 and a debt-to-equity ratio of 9.46. Colgate-Palmolive has a 12 month low of $79.52 and a 12 month high of $109.30.

Colgate-Palmolive Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, February 14th. Stockholders of record on Tuesday, January 21st will be given a dividend of $0.50 per share. The ex-dividend date is Tuesday, January 21st. This represents a $2.00 annualized dividend and a dividend yield of 2.22%. Colgate-Palmolive’s dividend payout ratio is currently 57.31%.

Insider Transactions at Colgate-Palmolive

In related news, CFO Stanley J. Sutula III sold 45,410 shares of the stock in a transaction 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 transaction, the chief financial officer now directly owns 36,726 shares of the company’s stock, valued at $3,456,283.86. This trade represents a 55.29 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Corporate insiders own 0.34% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts have recently commented on the stock. Piper Sandler assumed coverage on shares of Colgate-Palmolive in a report on Tuesday, September 24th. They issued an “overweight” rating and a $121.00 price objective on the stock. StockNews.com upgraded Colgate-Palmolive from a “hold” rating to a “buy” rating in a research note on Wednesday. Wells Fargo & Company dropped their price objective on Colgate-Palmolive from $100.00 to $92.00 and set an “underweight” rating for the company in a research note on Monday, October 28th. Stifel Nicolaus lowered Colgate-Palmolive from a “buy” rating to a “hold” rating and decreased their target price for the stock from $105.00 to $101.00 in a research note on Monday, October 28th. Finally, JPMorgan Chase & Co. lifted their target price on Colgate-Palmolive from $113.00 to $114.00 and gave the company an “overweight” rating in a research report on Friday, October 11th. One investment analyst has rated the stock with a sell rating, nine have given a hold rating and thirteen have given a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $105.11.

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.