Kornitzer Capital Management Inc. KS Sells 2,214 Shares of Colgate-Palmolive (NYSE:CL)

Kornitzer Capital Management Inc. KS reduced its holdings in Colgate-Palmolive (NYSE:CL) by 2.0% in the 3rd quarter, HoldingsChannel reports. The fund owned 106,545 shares of the company’s stock after selling 2,214 shares during the period. Kornitzer Capital Management Inc. KS’s holdings in Colgate-Palmolive were worth $11,060,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Price T Rowe Associates Inc. MD increased its position in shares of Colgate-Palmolive by 27.8% during the first quarter. Price T Rowe Associates Inc. MD now owns 41,067,130 shares of the company’s stock worth $3,698,096,000 after buying an additional 8,933,912 shares during the period. Massachusetts Financial Services Co. MA increased its position in shares of Colgate-Palmolive by 40.7% during the second quarter. Massachusetts Financial Services Co. MA now owns 8,969,498 shares of the company’s stock worth $870,400,000 after buying an additional 2,593,313 shares during the period. Legal & General Group Plc increased its position in shares of Colgate-Palmolive by 0.8% during the second quarter. Legal & General Group Plc now owns 7,785,101 shares of the company’s stock worth $755,465,000 after buying an additional 61,413 shares during the period. GUARDCAP ASSET MANAGEMENT Ltd increased its position in shares of Colgate-Palmolive by 4.1% during the first quarter. GUARDCAP ASSET MANAGEMENT Ltd now owns 6,987,454 shares of the company’s stock worth $629,220,000 after buying an additional 278,150 shares during the period. Finally, Acadian Asset Management LLC increased its position in shares of Colgate-Palmolive by 108.4% during the second quarter. Acadian Asset Management LLC now owns 5,682,280 shares of the company’s stock worth $551,367,000 after buying an additional 2,955,442 shares during the period. 80.41% of the stock is currently owned by institutional investors and hedge funds.

Colgate-Palmolive Price Performance

CL opened at $90.77 on Friday. The firm has a 50-day moving average price of $101.49 and a 200-day moving average price of $98.39. The company has a market capitalization of $74.16 billion, a price-to-earnings ratio of 26.04, a PEG ratio of 3.34 and a beta of 0.42. Colgate-Palmolive has a twelve month low of $74.67 and a twelve month 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.

Colgate-Palmolive Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, November 15th. Investors of record on Friday, October 18th will be paid a dividend of $0.50 per share. The ex-dividend date of this dividend is Friday, October 18th. This represents a $2.00 annualized dividend and a yield of 2.20%. Colgate-Palmolive’s dividend payout ratio is currently 57.31%.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on CL shares. Deutsche Bank Aktiengesellschaft cut shares of 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 report on Monday, September 9th. HSBC reissued a “hold” rating on shares of Colgate-Palmolive in a research note on Friday, July 26th. UBS Group increased their target price on shares of Colgate-Palmolive from $119.00 to $122.00 and gave the stock a “buy” rating in a research note on Wednesday, September 4th. Redburn Atlantic raised shares of Colgate-Palmolive to a “hold” rating in a research note on Thursday, August 1st. Finally, Sanford C. Bernstein increased their target price on shares of Colgate-Palmolive from $100.00 to $103.00 and gave the stock a “market perform” rating in a research note on Tuesday, July 30th. One investment analyst has rated the stock with a sell rating, nine have assigned a hold rating and thirteen have assigned a buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $105.11.

Insider Activity at Colgate-Palmolive

In other Colgate-Palmolive news, CFO Stanley J. Sutula III sold 45,410 shares of Colgate-Palmolive stock in a transaction that occurred on 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 completion of the sale, the chief financial officer now directly owns 36,726 shares in the company, valued at $3,456,283.86. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. In other news, CFO Stanley J. Sutula III sold 45,410 shares of the business’s stock in a transaction that occurred on Tuesday, November 5th. The shares were sold at an average price of $94.11, for a total value of $4,273,535.10. Following the completion of the sale, the chief financial officer now directly owns 36,726 shares in the company, valued at approximately $3,456,283.86. 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 hyperlink. Also, Director Martina Hundmejean sold 2,313 shares of the business’s stock in a transaction that occurred on 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 ownership of the stock. The disclosure for this sale can be found here. 0.37% of the stock is owned by corporate insiders.

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.