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

Pallas Capital Advisors LLC lowered its position in Colgate-Palmolive (NYSE:CL) by 57.1% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm 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 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in the company. E Fund Management Hong Kong Co. Ltd. bought a new stake in Colgate-Palmolive in the second quarter worth about $25,000. Continuum Advisory LLC boosted its holdings in Colgate-Palmolive by 46.5% during the 2nd quarter. Continuum Advisory LLC now owns 394 shares of the company’s stock valued at $38,000 after acquiring an additional 125 shares during the period. Gradient Investments LLC grew its position in Colgate-Palmolive by 150.4% in the 2nd 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. Financial Connections Group Inc. purchased a new stake in Colgate-Palmolive in the second quarter worth $68,000. Finally, Triad Wealth Partners LLC bought a new stake in shares of Colgate-Palmolive during the second quarter worth $71,000. Institutional investors own 80.41% of the company’s stock.

Insider Buying and Selling at Colgate-Palmolive

In other Colgate-Palmolive news, insider Sally Massey sold 15,850 shares of Colgate-Palmolive stock in a transaction dated Tuesday, August 6th. The stock was sold at an average price of $103.28, for a total transaction of $1,636,988.00. Following the completion of the sale, the insider now owns 13,942 shares of the company’s stock, valued at approximately $1,439,929.76. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. In other news, insider Sally Massey sold 15,850 shares of the company’s stock in a transaction on Tuesday, August 6th. The shares were sold at an average price of $103.28, for a total value of $1,636,988.00. Following the sale, the insider now directly owns 13,942 shares of the company’s stock, valued at $1,439,929.76. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Martina Hundmejean sold 2,313 shares of the business’s stock in a transaction on Friday, August 23rd. The shares were sold at an average price of $103.86, for a total transaction of $240,228.18. Following the transaction, the director now owns 11,755 shares of the company’s stock, valued at $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. In the last quarter, insiders have sold 43,490 shares of company stock worth $4,486,063. 0.34% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

Several research analysts recently commented on CL shares. HSBC reaffirmed a “hold” rating on shares of Colgate-Palmolive in a research note on Friday, July 26th. JPMorgan Chase & Co. lifted their price target on shares of Colgate-Palmolive from $113.00 to $114.00 and gave the company an “overweight” rating in a research note on Friday, October 11th. Evercore ISI increased their price objective on Colgate-Palmolive from $100.00 to $106.00 and gave the stock an “outperform” rating in a research note on Thursday, July 18th. Barclays lifted their target price on Colgate-Palmolive from $91.00 to $96.00 and gave the company an “equal weight” rating in a research report on Monday, July 29th. Finally, Stifel Nicolaus downgraded Colgate-Palmolive from a “buy” rating to a “hold” rating and dropped their price target for the stock from $105.00 to $101.00 in a research report on Monday. 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 company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $105.11.

Colgate-Palmolive Price Performance

Shares of NYSE CL opened at $93.67 on Friday. Colgate-Palmolive has a fifty-two week low of $73.97 and a fifty-two week high of $109.30. The company has a market cap of $76.53 billion, a PE ratio of 26.84, a P/E/G ratio of 3.54 and a beta of 0.40. The company has a debt-to-equity ratio of 16.90, a quick ratio of 0.70 and a current ratio of 1.06. The business has a 50-day simple moving average of $102.48 and a two-hundred day simple moving average of $98.14.

Colgate-Palmolive Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, November 15th. Shareholders of record on Friday, October 18th will be given a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a yield of 2.14%. The ex-dividend date is Friday, October 18th. Colgate-Palmolive’s dividend payout ratio is presently 57.31%.

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.