Adero Partners LLC Raises Stock Holdings in Colgate-Palmolive (NYSE:CL)

Adero Partners LLC increased its stake in shares of Colgate-Palmolive (NYSE:CL) by 9.6% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 3,141 shares of the company’s stock after purchasing an additional 275 shares during the quarter. Adero Partners LLC’s holdings in Colgate-Palmolive were worth $326,000 as of its most recent SEC filing.

Other hedge funds have also recently made changes to their positions in the company. E Fund Management Hong Kong Co. Ltd. purchased a new stake in shares of Colgate-Palmolive during the 2nd quarter worth $25,000. Continuum Advisory LLC increased its position in Colgate-Palmolive by 46.5% during the 2nd 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 acquired a new position in Colgate-Palmolive during the 3rd quarter valued at about $42,000. Capital Performance Advisors LLP acquired a new position in Colgate-Palmolive during the 3rd quarter valued at about $53,000. Finally, Gradient Investments LLC increased its position in Colgate-Palmolive by 150.4% during the 2nd quarter. Gradient Investments LLC now owns 666 shares of the company’s stock valued at $65,000 after buying an additional 400 shares in the last quarter. 80.41% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several research analysts recently issued reports on CL shares. TD Cowen reduced their target price on Colgate-Palmolive from $115.00 to $110.00 and set a “buy” rating on the stock in a research report on Monday, October 28th. Piper Sandler started coverage on Colgate-Palmolive in a research report on Tuesday, September 24th. They set an “overweight” rating and a $121.00 target price on the stock. Sanford C. Bernstein increased their price objective on Colgate-Palmolive from $100.00 to $103.00 and gave the company a “market perform” rating in a report on Tuesday, July 30th. HSBC reissued a “hold” rating on shares of Colgate-Palmolive in a report on Friday, July 26th. Finally, UBS Group increased their price objective on Colgate-Palmolive from $119.00 to $122.00 and gave the company a “buy” rating in a report on Wednesday, September 4th. One equities 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. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $105.11.

Insider Activity

In related news, CFO Stanley J. Sutula III sold 45,410 shares of Colgate-Palmolive stock in a transaction on Tuesday, November 5th. The stock was sold at an average price of $94.11, for a total value of $4,273,535.10. Following the completion of the transaction, the chief financial officer now directly owns 36,726 shares in the company, valued at approximately $3,456,283.86. This trade represents a 55.29 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Martina Hundmejean sold 2,313 shares of Colgate-Palmolive 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 owns 11,755 shares of the company’s stock, valued at approximately $1,220,874.30. This trade represents a 16.44 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 0.34% of the company’s stock.

Colgate-Palmolive Trading Up 2.3 %

Shares of NYSE CL opened at $93.56 on Friday. Colgate-Palmolive has a twelve month low of $75.17 and a twelve month high of $109.30. The company has a current ratio of 1.04, a quick ratio of 0.68 and a debt-to-equity ratio of 9.46. The stock has a fifty day simple moving average of $99.31 and a 200-day simple moving average of $98.49. The stock has a market capitalization of $76.44 billion, a PE ratio of 26.81, a PEG ratio of 3.34 and a beta of 0.42.

Colgate-Palmolive Dividend Announcement

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