Cornerstone Wealth Group LLC Increases Stock Holdings in Colgate-Palmolive (NYSE:CL)

Cornerstone Wealth Group LLC boosted its position in shares of Colgate-Palmolive (NYSE:CL) by 4.0% in the 4th quarter, Holdings Channel.com reports. The fund owned 41,970 shares of the company’s stock after purchasing an additional 1,599 shares during the period. Cornerstone Wealth Group LLC’s holdings in Colgate-Palmolive were worth $3,816,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of CL. Union Bancaire Privee UBP SA purchased a new stake in Colgate-Palmolive in the fourth quarter valued at approximately $32,000. Capital Asset Advisory Services LLC grew its stake in Colgate-Palmolive by 2.8% in the 4th quarter. Capital Asset Advisory Services LLC now owns 14,649 shares of the company’s stock worth $1,321,000 after buying an additional 398 shares in the last quarter. Blue Trust Inc. increased its holdings in shares of Colgate-Palmolive by 50.6% in the 4th quarter. Blue Trust Inc. now owns 7,928 shares of the company’s stock worth $721,000 after buying an additional 2,665 shares during the last quarter. Stonehage Fleming Financial Services Holdings Ltd raised its position in shares of Colgate-Palmolive by 11.4% during the 4th quarter. Stonehage Fleming Financial Services Holdings Ltd now owns 1,086,752 shares of the company’s stock valued at $98,797,000 after buying an additional 110,788 shares in the last quarter. Finally, Drive Wealth Management LLC lifted its holdings in shares of Colgate-Palmolive by 23.9% during the 4th quarter. Drive Wealth Management LLC now owns 3,014 shares of the company’s stock worth $274,000 after acquiring an additional 582 shares during the last quarter. 80.41% of the stock is currently owned by hedge funds and other institutional investors.

Colgate-Palmolive Stock Performance

Shares of CL stock opened at $87.88 on Monday. The firm has a market capitalization of $71.79 billion, a price-to-earnings ratio of 25.18, a PEG ratio of 3.59 and a beta of 0.44. The stock has a fifty day moving average of $91.81 and a 200 day moving average of $97.45. Colgate-Palmolive has a 52 week low of $80.03 and a 52 week 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 Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, February 14th. Stockholders of record on Tuesday, January 21st will be given a $0.50 dividend. The ex-dividend date of this dividend is Tuesday, January 21st. This represents a $2.00 annualized dividend and a dividend yield of 2.28%. Colgate-Palmolive’s dividend payout ratio is 57.31%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have weighed in on CL shares. TD Cowen lowered their price target on Colgate-Palmolive from $110.00 to $100.00 and set a “buy” rating on the stock in a research report on Wednesday, January 8th. Stifel Nicolaus dropped their target price on Colgate-Palmolive from $101.00 to $95.00 and set a “hold” rating for the company in a research report on Friday, January 17th. Barclays cut their target price on Colgate-Palmolive from $96.00 to $83.00 and set an “equal weight” rating for the company in a research note on Friday, January 17th. UBS Group lowered their price objective on shares of Colgate-Palmolive from $112.00 to $104.00 and set a “buy” rating for the company in a report on Thursday, January 16th. Finally, StockNews.com lowered shares of Colgate-Palmolive from a “buy” rating to a “hold” rating in a report on Thursday, January 9th. One analyst has rated the stock with a sell rating, ten have issued a hold rating and twelve have issued a buy rating to the company. According to MarketBeat, the company has an average rating of “Hold” and a consensus target price of $101.11.

Insider Activity

In other news, CFO Stanley J. Sutula III sold 45,410 shares of the firm’s stock in a transaction that occurred 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 owns 36,726 shares in the company, valued at $3,456,283.86. This trade represents a 55.29 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 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.