Colgate-Palmolive (NYSE:CL) Shares Sold by Oppenheimer Asset Management Inc.

Oppenheimer Asset Management Inc. cut its position in Colgate-Palmolive (NYSE:CL) by 49.8% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 13,980 shares of the company’s stock after selling 13,880 shares during the period. Oppenheimer Asset Management Inc.’s holdings in Colgate-Palmolive were worth $1,451,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also modified their holdings of CL. E Fund Management Hong Kong Co. Ltd. purchased a new position in Colgate-Palmolive in the second quarter valued at approximately $25,000. Continuum Advisory LLC grew its position in shares of Colgate-Palmolive by 46.5% in the 2nd quarter. Continuum Advisory LLC now owns 394 shares of the company’s stock valued at $38,000 after buying an additional 125 shares during the last quarter. Reston Wealth Management LLC purchased a new position in shares of Colgate-Palmolive in the 3rd quarter valued at $42,000. Capital Performance Advisors LLP acquired a new stake in Colgate-Palmolive during the 3rd quarter worth $53,000. Finally, Gradient Investments LLC lifted its position in Colgate-Palmolive by 150.4% in the second quarter. Gradient Investments LLC now owns 666 shares of the company’s stock valued at $65,000 after acquiring an additional 400 shares during the last quarter. 80.41% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other Colgate-Palmolive news, Director Martina Hundmejean sold 2,313 shares of the company’s stock in a transaction dated Friday, August 23rd. The stock was sold at an average price of $103.86, for a total transaction of $240,228.18. Following the completion of the sale, the director now directly owns 11,755 shares in the company, valued at $1,220,874.30. This represents a 16.44 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CFO Stanley J. Sutula III sold 45,410 shares of the firm’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 transaction of $4,273,535.10. Following the completion of the transaction, the chief financial officer now owns 36,726 shares in the company, valued at $3,456,283.86. The trade was a 55.29 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 0.34% of the company’s stock.

Colgate-Palmolive Price Performance

Shares of NYSE:CL opened at $93.56 on Monday. Colgate-Palmolive has a 12 month low of $75.17 and a 12 month high of $109.30. The firm has a market capitalization of $76.44 billion, a price-to-earnings ratio of 26.81, a price-to-earnings-growth ratio of 3.34 and a beta of 0.42. The business’s 50 day simple moving average is $99.31 and its 200-day simple moving average is $98.54. The company has a debt-to-equity ratio of 9.46, a current ratio of 1.04 and a quick ratio of 0.68.

Colgate-Palmolive Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, November 15th. Investors of record on Friday, October 18th were given a dividend of $0.50 per share. The ex-dividend date was 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 currently 57.31%.

Wall Street Analysts Forecast Growth

CL has been the subject of several research reports. Deutsche Bank Aktiengesellschaft downgraded Colgate-Palmolive from a “buy” rating to a “hold” rating and boosted their target price for the company from $107.00 to $109.00 in a report on Monday, September 9th. Barclays increased their price objective on Colgate-Palmolive from $91.00 to $96.00 and gave the company an “equal weight” rating in a report on Monday, July 29th. Sanford C. Bernstein lifted their target price on shares of Colgate-Palmolive from $100.00 to $103.00 and gave the company a “market perform” rating in a report on Tuesday, July 30th. TD Cowen reduced their price target on shares of Colgate-Palmolive from $115.00 to $110.00 and set a “buy” rating for the company in a research report on Monday, October 28th. Finally, UBS Group raised their price objective on shares of Colgate-Palmolive from $119.00 to $122.00 and gave the stock a “buy” rating in a research report on Wednesday, September 4th. One research analyst has rated the stock with a sell rating, nine have assigned a hold rating and thirteen have given a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus 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.