Ladenburg Thalmann Financial Services Inc. reduced its position in shares of Colgate-Palmolive (NYSE:CL) by 2.3% in the third quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 325,387 shares of the company’s stock after selling 7,527 shares during the quarter. Ladenburg Thalmann Financial Services Inc.’s holdings in Colgate-Palmolive were worth $23,702,000 at the end of the most recent quarter.
A number of other large investors have also recently added to or reduced their stakes in the business. Pacer Advisors Inc. grew its stake in shares of Colgate-Palmolive by 8.4% in the second quarter. Pacer Advisors Inc. now owns 20,224 shares of the company’s stock worth $1,499,000 after acquiring an additional 1,566 shares during the period. Fiduciary Trust Co. grew its stake in shares of Colgate-Palmolive by 1.6% in the second quarter. Fiduciary Trust Co. now owns 170,818 shares of the company’s stock worth $12,663,000 after acquiring an additional 2,758 shares during the period. The Manufacturers Life Insurance Company grew its stake in shares of Colgate-Palmolive by 10.3% in the second quarter. The Manufacturers Life Insurance Company now owns 1,131,987 shares of the company’s stock worth $83,914,000 after acquiring an additional 105,878 shares during the period. Pensionfund DSM Netherlands bought a new stake in shares of Colgate-Palmolive in the third quarter worth approximately $4,225,000. Finally, Pacad Investment Ltd. bought a new stake in shares of Colgate-Palmolive in the second quarter worth approximately $549,000. Institutional investors and hedge funds own 72.86% of the company’s stock.
Colgate-Palmolive (NYSE CL) opened at $77.50 on Friday. The company has a quick ratio of 0.92, a current ratio of 1.23 and a debt-to-equity ratio of 24.42. The stock has a market cap of $67,289.20, a P/E ratio of 26.70, a P/E/G ratio of 3.20 and a beta of 0.80. Colgate-Palmolive has a 1-year low of $63.43 and a 1-year high of $77.91.
The company also recently declared a quarterly dividend, which will be paid on Thursday, February 15th. Shareholders of record on Tuesday, January 23rd will be issued a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a yield of 2.06%. The ex-dividend date is Monday, January 22nd. Colgate-Palmolive’s dividend payout ratio is currently 61.78%.
In other Colgate-Palmolive news, Director Stephen I. Sadove sold 20,780 shares of Colgate-Palmolive stock in a transaction that occurred on Monday, November 6th. The shares were sold at an average price of $70.52, for a total transaction of $1,465,405.60. Following the transaction, the director now owns 36,268 shares of the company’s stock, valued at $2,557,619.36. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CMO Mukul Deoras sold 7,500 shares of Colgate-Palmolive stock in a transaction that occurred on Friday, November 10th. The shares were sold at an average price of $73.28, for a total transaction of $549,600.00. Following the transaction, the chief marketing officer now directly owns 45,217 shares in the company, valued at approximately $3,313,501.76. The disclosure for this sale can be found here. Insiders have sold 181,950 shares of company stock worth $13,237,385 in the last ninety days. Insiders own 1.02% of the company’s stock.
CL has been the subject of a number of research analyst reports. Morgan Stanley upgraded shares of Colgate-Palmolive from an “equal weight” rating to an “overweight” rating and lifted their price target for the stock from $75.00 to $84.00 in a research note on Monday, September 25th. Zacks Investment Research raised shares of Colgate-Palmolive from a “hold” rating to a “buy” rating and set a $80.00 price objective on the stock in a report on Monday, September 25th. Jefferies Group reissued a “hold” rating and issued a $79.00 price objective on shares of Colgate-Palmolive in a report on Thursday, September 28th. Royal Bank of Canada reissued a “hold” rating and issued a $74.00 price objective on shares of Colgate-Palmolive in a report on Sunday, October 8th. Finally, SunTrust Banks raised shares of Colgate-Palmolive from a “hold” rating to a “buy” rating and raised their price objective for the stock from $65.00 to $85.00 in a report on Wednesday, October 11th. Two research analysts have rated the stock with a sell rating, thirteen have assigned a hold rating and six have assigned a buy rating to the stock. Colgate-Palmolive presently has an average rating of “Hold” and an average target price of $76.45.
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Colgate-Palmolive Company (Colgate) is a consumer products company. The Company operates in two product segments: Oral, Personal and Home Care, and Pet Nutrition. The Oral, Personal and Home Care product segment is operated through five geographic segments, which include North America, Latin America, Europe, Asia Pacific and Africa/Eurasia.
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