Pallas Capital Advisors LLC Cuts Holdings in Colgate-Palmolive (NYSE:CL)

Pallas Capital Advisors LLC reduced its position in shares of Colgate-Palmolive (NYSE:CL) by 57.1% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 3,550 shares of the company’s stock after selling 4,723 shares during the quarter. Pallas Capital Advisors LLC’s holdings in Colgate-Palmolive were worth $354,000 as of its most recent SEC filing.

Other institutional investors have also recently modified their holdings of the company. Diversify Advisory Services LLC acquired a new stake in Colgate-Palmolive in the first quarter valued at approximately $911,000. TD Asset Management Inc raised its position in shares of Colgate-Palmolive by 2.4% during the 1st quarter. TD Asset Management Inc now owns 1,154,566 shares of the company’s stock worth $103,969,000 after purchasing an additional 26,987 shares during the last quarter. Empowered Funds LLC lifted its stake in Colgate-Palmolive by 277.3% in the 1st quarter. Empowered Funds LLC now owns 33,082 shares of the company’s stock valued at $2,979,000 after buying an additional 24,314 shares in the last quarter. M&G Plc acquired a new stake in Colgate-Palmolive in the 1st quarter worth about $3,812,000. Finally, Sei Investments Co. increased its stake in Colgate-Palmolive by 41.5% during the 1st quarter. Sei Investments Co. now owns 598,639 shares of the company’s stock worth $53,901,000 after buying an additional 175,445 shares in the last quarter. 80.41% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several equities analysts have recently weighed in on CL shares. Hsbc Global Res downgraded Colgate-Palmolive from a “strong-buy” rating to a “hold” rating in a research report on Friday, July 26th. Wells Fargo & Company reduced their target price on shares of Colgate-Palmolive from $100.00 to $92.00 and set an “underweight” rating for the company in a research report on Monday. Bank of America boosted their price target on shares of Colgate-Palmolive from $100.00 to $110.00 and gave the stock a “buy” rating in a research report on Wednesday, July 10th. Piper Sandler initiated coverage on shares of Colgate-Palmolive in a report on Tuesday, September 24th. They issued an “overweight” rating and a $121.00 price objective for the company. Finally, Stifel Nicolaus cut Colgate-Palmolive from a “buy” rating to a “hold” rating and lowered their target price for the stock from $105.00 to $101.00 in a report on Monday. One investment analyst has rated the stock with a sell rating, ten have given a hold rating and twelve have given a buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $105.11.

Insider Transactions at Colgate-Palmolive

In related news, EVP Gregory Malcolm sold 10,533 shares of the company’s stock in a transaction that occurred on Tuesday, August 6th. The shares were sold at an average price of $103.10, for a total transaction of $1,085,952.30. Following the sale, the executive vice president now directly owns 10,377 shares of the company’s stock, valued at $1,069,868.70. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other Colgate-Palmolive news, EVP Gregory Malcolm sold 10,533 shares of the company’s stock in a transaction dated Tuesday, August 6th. The stock was sold at an average price of $103.10, for a total transaction of $1,085,952.30. Following the sale, the executive vice president now owns 10,377 shares in the company, valued at $1,069,868.70. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Martina Hundmejean sold 2,313 shares of the business’s stock in a transaction dated Friday, August 23rd. The stock was sold at an average price of $103.86, for a total value of $240,228.18. Following the transaction, the director now directly owns 11,755 shares of the company’s stock, valued at approximately $1,220,874.30. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 43,490 shares of company stock valued at $4,486,063. 0.34% of the stock is currently owned by corporate insiders.

Colgate-Palmolive Trading Down 1.0 %

Shares of NYSE CL opened at $93.67 on Friday. The company has a current ratio of 1.06, a quick ratio of 0.70 and a debt-to-equity ratio of 16.90. The stock has a market capitalization of $76.53 billion, a PE ratio of 26.84, a PEG ratio of 3.54 and a beta of 0.40. Colgate-Palmolive has a twelve month low of $73.97 and a twelve month high of $109.30. The stock has a fifty day simple moving average of $102.48 and a 200-day simple moving average of $98.14.

Colgate-Palmolive Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, November 15th. Shareholders of record on Friday, October 18th will be paid a dividend of $0.50 per share. The ex-dividend date is Friday, October 18th. This represents a $2.00 dividend on an annualized basis and a yield of 2.14%. Colgate-Palmolive’s dividend payout ratio (DPR) is presently 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.