Graypoint LLC Purchases 988 Shares of Colgate-Palmolive (NYSE:CL)

Graypoint LLC raised its position in shares of Colgate-Palmolive (NYSE:CL) by 16.4% during the 4th quarter, Holdings Channel.com reports. The firm owned 6,995 shares of the company’s stock after purchasing an additional 988 shares during the period. Graypoint LLC’s holdings in Colgate-Palmolive were worth $636,000 at the end of the most recent reporting period.

Other hedge funds have also modified their holdings of the company. Reston Wealth Management LLC purchased a new position in Colgate-Palmolive in the 3rd quarter worth approximately $42,000. Capital Performance Advisors LLP bought a new stake in shares of Colgate-Palmolive during the third quarter valued at approximately $53,000. Prospera Private Wealth LLC purchased a new position in shares of Colgate-Palmolive in the third quarter worth $64,000. True Wealth Design LLC boosted its position in shares of Colgate-Palmolive by 1,460.9% during the third quarter. True Wealth Design LLC now owns 718 shares of the company’s stock worth $75,000 after acquiring an additional 672 shares during the last quarter. Finally, Continuum Advisory LLC grew its stake in Colgate-Palmolive by 93.4% during the third quarter. Continuum Advisory LLC now owns 762 shares of the company’s stock valued at $79,000 after acquiring an additional 368 shares in the last quarter. 80.41% of the stock is currently owned by institutional investors.

Insider Activity

In related news, CFO Stanley J. Sutula III sold 45,410 shares of Colgate-Palmolive stock in a transaction dated Tuesday, November 5th. The stock was sold at an average price of $94.11, for a total value of $4,273,535.10. Following the completion of the sale, the chief financial officer now directly owns 36,726 shares in the company, valued at $3,456,283.86. The trade was a 55.29 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Insiders own 0.34% of the company’s stock.

Colgate-Palmolive Stock Down 1.2 %

Shares of CL opened at $86.38 on Friday. The firm has a market capitalization of $70.57 billion, a P/E ratio of 24.75, a P/E/G ratio of 3.31 and a beta of 0.44. Colgate-Palmolive has a 12-month low of $79.69 and a 12-month high of $109.30. The firm has a fifty day moving average price of $92.62 and a 200-day moving average price of $98.06. 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 Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, February 14th. Shareholders of record on Tuesday, January 21st will be paid a $0.50 dividend. The ex-dividend date of this dividend is Tuesday, January 21st. This represents a $2.00 dividend on an annualized basis and a yield of 2.32%. Colgate-Palmolive’s dividend payout ratio is currently 57.31%.

Analysts Set New Price Targets

Several research analysts have commented on the stock. JPMorgan Chase & Co. increased their price objective on shares of Colgate-Palmolive from $113.00 to $114.00 and gave the company an “overweight” rating in a report on Friday, October 11th. Wells Fargo & Company cut their price target on Colgate-Palmolive from $92.00 to $83.00 and set an “underweight” rating for the company in a report on Tuesday, January 7th. Stifel Nicolaus downgraded Colgate-Palmolive from a “buy” rating to a “hold” rating and lowered their target price for the company from $105.00 to $101.00 in a research report on Monday, October 28th. Piper Sandler cut their target price on shares of Colgate-Palmolive from $121.00 to $112.00 and set an “overweight” rating for the company in a report on Monday, January 6th. Finally, StockNews.com lowered shares of Colgate-Palmolive from a “buy” rating to a “hold” rating in a research report on Thursday. One investment analyst has rated the stock with a sell rating, ten have assigned a hold rating and twelve have issued a buy rating to the stock. Based on data from MarketBeat, Colgate-Palmolive has an average rating of “Hold” and a consensus target price of $103.63.

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.