M&G Plc Decreases Position in Colgate-Palmolive (NYSE:CL)

M&G Plc reduced its position in shares of Colgate-Palmolive (NYSE:CL) by 12.4% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 70,071 shares of the company’s stock after selling 9,904 shares during the period. M&G Plc’s holdings in Colgate-Palmolive were worth $7,287,000 at the end of the most recent quarter.

A number of other hedge funds have also made changes to their positions in CL. E Fund Management Hong Kong Co. Ltd. purchased a new stake in shares of Colgate-Palmolive during the second quarter worth approximately $25,000. Continuum Advisory LLC grew its holdings in shares of Colgate-Palmolive by 46.5% during the second quarter. Continuum Advisory LLC now owns 394 shares of the company’s stock worth $38,000 after buying an additional 125 shares in the last quarter. Reston Wealth Management LLC acquired a new stake in shares of Colgate-Palmolive in the third quarter valued at about $42,000. Gradient Investments LLC lifted its stake in shares of Colgate-Palmolive by 150.4% in the second quarter. Gradient Investments LLC now owns 666 shares of the company’s stock worth $65,000 after buying an additional 400 shares in the last quarter. Finally, Financial Connections Group Inc. acquired a new position in Colgate-Palmolive during the second quarter worth about $68,000. Institutional investors and hedge funds own 80.41% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts have commented on CL shares. TD Cowen cut their price objective on shares of Colgate-Palmolive from $115.00 to $110.00 and set a “buy” rating for the company in a report on Monday, October 28th. Evercore ISI lifted their price objective on Colgate-Palmolive from $100.00 to $106.00 and gave the stock an “outperform” rating in a research report on Thursday, July 18th. Wells Fargo & Company lowered their price objective on Colgate-Palmolive from $100.00 to $92.00 and set an “underweight” rating on the stock in a research note on Monday, October 28th. Redburn Atlantic raised Colgate-Palmolive to a “hold” rating in a research note on Thursday, August 1st. Finally, Jefferies Financial Group cut shares of Colgate-Palmolive from a “buy” rating to a “hold” rating and lowered their price target for the company from $103.00 to $95.00 in a research report on Wednesday, July 24th. One research analyst has rated the stock with a sell rating, nine have given a hold rating and thirteen have given a buy rating to the stock. According to data from MarketBeat, Colgate-Palmolive presently has a consensus rating of “Moderate Buy” and an average target price of $105.11.

Insider Buying and Selling at Colgate-Palmolive

In other news, Director Martina Hundmejean sold 2,313 shares of the stock in a transaction dated Friday, August 23rd. The shares were sold at an average price of $103.86, for a total transaction of $240,228.18. Following the sale, the director now 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Colgate-Palmolive news, CFO Stanley J. Sutula III sold 45,410 shares of the company’s stock in a transaction dated Tuesday, November 5th. The stock was 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 in the company, valued at $3,456,283.86. 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 Colgate-Palmolive stock in a transaction dated Friday, August 23rd. The shares were sold at an average price of $103.86, for a total value of $240,228.18. Following the completion of the transaction, the director now owns 11,755 shares of the company’s stock, valued at $1,220,874.30. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. 0.34% of the stock is currently owned by corporate insiders.

Colgate-Palmolive Stock Up 2.0 %

NYSE:CL opened at $92.59 on Friday. Colgate-Palmolive has a 52 week low of $74.67 and a 52 week high of $109.30. The company has a quick ratio of 0.68, a current ratio of 1.04 and a debt-to-equity ratio of 9.46. The stock’s fifty day moving average is $100.91 and its two-hundred day moving average is $98.37. The stock has a market capitalization of $75.65 billion, a price-to-earnings ratio of 26.53, a price-to-earnings-growth ratio of 3.34 and a beta of 0.42.

Colgate-Palmolive Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, November 15th. Investors of record on Friday, October 18th will be issued a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a yield of 2.16%. The ex-dividend date of this dividend is Friday, October 18th. Colgate-Palmolive’s dividend payout ratio (DPR) is 57.31%.

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.