Fortitude Family Office LLC Reduces Position in Colgate-Palmolive (NYSE:CL)

Fortitude Family Office LLC reduced its holdings in shares of Colgate-Palmolive (NYSE:CL) by 83.6% in the third quarter, according to its most recent filing with the SEC. The fund owned 501 shares of the company’s stock after selling 2,550 shares during the period. Fortitude Family Office LLC’s holdings in Colgate-Palmolive were worth $52,000 at the end of the most recent quarter.

A number of other large investors also recently bought and sold shares of CL. Nisa Investment Advisors LLC lifted its position in shares of Colgate-Palmolive by 1.0% during the third quarter. Nisa Investment Advisors LLC now owns 240,511 shares of the company’s stock worth $24,967,000 after purchasing an additional 2,350 shares during the last quarter. TCP Asset Management LLC bought a new stake in Colgate-Palmolive during the 3rd quarter valued at about $201,000. Concord Wealth Partners boosted its position in Colgate-Palmolive by 8.1% in the 3rd quarter. Concord Wealth Partners now owns 11,618 shares of the company’s stock valued at $1,206,000 after buying an additional 872 shares during the period. Vivid Wealth Management LLC bought a new position in Colgate-Palmolive in the 3rd quarter worth about $2,301,000. Finally, Hibernia Wealth Partners LLC purchased a new position in shares of Colgate-Palmolive during the third quarter worth approximately $204,000. Hedge funds and other institutional investors own 80.41% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts recently issued reports on CL shares. Deutsche Bank Aktiengesellschaft cut Colgate-Palmolive from a “buy” rating to a “hold” rating and increased their price objective for the stock from $107.00 to $109.00 in a research note on Monday, September 9th. Bank of America lifted their price objective on Colgate-Palmolive from $100.00 to $110.00 and gave the company a “buy” rating in a report on Wednesday, July 10th. Jefferies Financial Group cut shares of Colgate-Palmolive from a “buy” rating to a “hold” rating and dropped their target price for the stock from $103.00 to $95.00 in a report on Wednesday, July 24th. Redburn Atlantic raised shares of Colgate-Palmolive to a “hold” rating in a research report on Thursday, August 1st. Finally, Stifel Nicolaus cut shares of Colgate-Palmolive from a “buy” rating to a “hold” rating and lowered their price target for the stock from $105.00 to $101.00 in a research report on Monday. One research analyst has rated the stock with a sell rating, ten have assigned a hold rating and twelve have assigned a buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $105.11.

Colgate-Palmolive Stock Down 1.0 %

CL stock opened at $94.75 on Wednesday. The stock has a market capitalization of $77.74 billion, a PE ratio of 29.98, a price-to-earnings-growth ratio of 3.54 and a beta of 0.40. Colgate-Palmolive has a 52 week low of $72.36 and a 52 week high of $109.30. The company has a quick ratio of 0.70, a current ratio of 1.06 and a debt-to-equity ratio of 16.90. The firm has a 50 day moving average of $102.86 and a 200 day moving average of $98.19.

Colgate-Palmolive Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, November 15th. Stockholders 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 dividend yield of 2.11%. The ex-dividend date is Friday, October 18th. Colgate-Palmolive’s dividend payout ratio (DPR) is presently 63.29%.

Insider Activity at Colgate-Palmolive

In other Colgate-Palmolive news, Director Martina Hundmejean sold 2,313 shares of Colgate-Palmolive stock in a transaction dated Friday, August 23rd. The stock was sold at an average price of $103.86, for a total transaction of $240,228.18. Following the completion of the sale, the director now owns 11,755 shares of the company’s stock, valued at approximately $1,220,874.30. 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, EVP Gregory Malcolm sold 10,533 shares of the stock in a transaction on Tuesday, August 6th. The shares were sold at an average price of $103.10, for a total value of $1,085,952.30. Following the sale, the executive vice president now owns 10,377 shares in the company, valued at $1,069,868.70. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available 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. Insiders have sold a total of 43,490 shares of company stock valued at $4,486,063 in the last ninety days. Company insiders own 0.34% of the company’s stock.

Colgate-Palmolive Company 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.