Algert Global LLC Grows Stock Holdings in Colgate-Palmolive (NYSE:CL)

Algert Global LLC increased its stake in shares of Colgate-Palmolive (NYSE:CL) by 830.4% during the third quarter, HoldingsChannel.com reports. The institutional investor owned 47,739 shares of the company’s stock after acquiring an additional 42,608 shares during the quarter. Algert Global LLC’s holdings in Colgate-Palmolive were worth $4,956,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Gordian Advisors LLC acquired a new stake in shares of Colgate-Palmolive during the third quarter valued at about $602,000. Carrera Capital Advisors lifted its stake in Colgate-Palmolive by 23.1% during the third quarter. Carrera Capital Advisors now owns 39,170 shares of the company’s stock worth $4,066,000 after purchasing an additional 7,353 shares in the last quarter. Vontobel Holding Ltd. grew its stake in shares of Colgate-Palmolive by 224.6% in the third quarter. Vontobel Holding Ltd. now owns 795,938 shares of the company’s stock valued at $82,626,000 after buying an additional 550,750 shares in the last quarter. PGGM Investments boosted its holdings in Colgate-Palmolive by 171.8% during the 2nd quarter. PGGM Investments now owns 157,608 shares of the company’s stock valued at $15,294,000 after acquiring an additional 99,624 shares during the period. Finally, QRG Capital Management Inc. grew its position in Colgate-Palmolive by 11.2% in the 2nd quarter. QRG Capital Management Inc. now owns 57,275 shares of the company’s stock valued at $5,558,000 after acquiring an additional 5,751 shares in the last quarter. Institutional investors and hedge funds own 80.41% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts recently weighed in on CL shares. Barclays lifted their price objective on shares of Colgate-Palmolive from $91.00 to $96.00 and gave the company an “equal weight” rating in a report on Monday, July 29th. Wells Fargo & Company lowered their target price 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 downgraded Colgate-Palmolive from a “buy” rating to a “hold” rating and lowered their price objective for the stock from $105.00 to $101.00 in a research report on Monday, October 28th. Piper Sandler assumed coverage on shares of Colgate-Palmolive in a research note on Tuesday, September 24th. They set an “overweight” rating and a $121.00 target price on the stock. Finally, StockNews.com upgraded shares of Colgate-Palmolive from a “hold” rating to a “buy” rating in a report on Thursday, November 14th. One equities 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 company’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $105.11.

Colgate-Palmolive Stock Up 0.7 %

Shares of Colgate-Palmolive stock opened at $94.92 on Monday. The company has a market cap of $77.55 billion, a P/E ratio of 27.20, a PEG ratio of 3.36 and a beta of 0.42. The firm has a fifty day moving average of $98.10 and a two-hundred day moving average of $98.57. The company has a debt-to-equity ratio of 9.46, a quick ratio of 0.68 and a current ratio of 1.04. Colgate-Palmolive has a one year low of $75.50 and a one year high of $109.30.

Colgate-Palmolive Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, November 15th. Shareholders of record on Friday, October 18th were issued a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a yield of 2.11%. The ex-dividend date was Friday, October 18th. Colgate-Palmolive’s dividend payout ratio is presently 57.31%.

Insider Buying and Selling

In related news, CFO Stanley J. Sutula III sold 45,410 shares of the business’s stock in a transaction dated 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 sale, the chief financial officer now owns 36,726 shares of the company’s stock, valued at approximately $3,456,283.86. The trade was a 55.29 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 0.34% of the stock is currently owned by corporate insiders.

Colgate-Palmolive 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.