Ipswich Investment Management Co. Inc. Sells 3,000 Shares of Colgate-Palmolive (NYSE:CL)

Ipswich Investment Management Co. Inc. cut its stake in Colgate-Palmolive (NYSE:CL) by 18.9% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 12,862 shares of the company’s stock after selling 3,000 shares during the period. Ipswich Investment Management Co. Inc.’s holdings in Colgate-Palmolive were worth $1,335,000 as of its most recent SEC filing.

Other large investors have also recently added to or reduced their stakes in the company. E Fund Management Hong Kong Co. Ltd. acquired a new stake in shares of Colgate-Palmolive in the 2nd quarter valued at $25,000. Continuum Advisory LLC boosted its position in Colgate-Palmolive by 46.5% in the second quarter. Continuum Advisory LLC now owns 394 shares of the company’s stock valued at $38,000 after buying an additional 125 shares in the last quarter. Reston Wealth Management LLC bought a new stake in Colgate-Palmolive during the third quarter worth about $42,000. Capital Performance Advisors LLP acquired a new stake in shares of Colgate-Palmolive during the third quarter worth approximately $53,000. Finally, Gradient Investments LLC raised 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 purchasing an additional 400 shares during the last quarter. Institutional investors and hedge funds own 80.41% of the company’s stock.

Insider Transactions at Colgate-Palmolive

In related news, Director Martina Hundmejean sold 2,313 shares of the company’s stock in a transaction on 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 directly owns 11,755 shares of the company’s stock, valued at approximately $1,220,874.30. This represents a 16.44 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Stanley J. Sutula III sold 45,410 shares of Colgate-Palmolive stock in a transaction dated 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 $3,456,283.86. This represents a 55.29 % decrease in their position. The disclosure for this sale can be found here. 0.34% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

A number of equities research analysts have commented on the stock. TD Cowen decreased their price objective on shares of Colgate-Palmolive from $115.00 to $110.00 and set a “buy” rating on the stock in a report on Monday, October 28th. JPMorgan Chase & Co. raised their price target on shares of Colgate-Palmolive from $113.00 to $114.00 and gave the company an “overweight” rating in a report on Friday, October 11th. Stifel Nicolaus cut shares of Colgate-Palmolive from a “buy” rating to a “hold” rating and dropped their price objective for the stock from $105.00 to $101.00 in a research report on Monday, October 28th. Piper Sandler initiated coverage on Colgate-Palmolive in a research report on Tuesday, September 24th. They issued an “overweight” rating and a $121.00 price objective on the stock. Finally, StockNews.com upgraded Colgate-Palmolive from a “hold” rating to a “buy” rating in a research report on Thursday. One analyst has rated the stock with a sell rating, nine have issued a hold rating and thirteen have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $105.11.

Colgate-Palmolive Price Performance

Shares of CL stock opened at $93.58 on Friday. 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 has a 12-month low of $75.17 and a 12-month high of $109.30. The firm has a fifty day moving average of $99.31 and a 200-day moving average of $98.45. The firm has a market capitalization of $76.46 billion, a price-to-earnings ratio of 26.81, a price-to-earnings-growth ratio of 3.25 and a beta of 0.42.

Colgate-Palmolive Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, November 15th. Shareholders of record on Friday, October 18th were paid a $0.50 dividend. The ex-dividend date of this dividend was Friday, October 18th. This represents a $2.00 dividend on an annualized basis and a yield of 2.14%. Colgate-Palmolive’s payout ratio is 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.