Colgate-Palmolive (NYSE:CL) Shares Sold by Bank of Montreal Can

Bank of Montreal Can lowered its holdings in shares of Colgate-Palmolive (NYSE:CL) by 27.8% in the third quarter, HoldingsChannel.com reports. The fund owned 1,681,891 shares of the company’s stock after selling 646,097 shares during the quarter. Bank of Montreal Can’s holdings in Colgate-Palmolive were worth $174,345,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently modified their holdings of the company. E Fund Management Hong Kong Co. Ltd. acquired a new position in shares of Colgate-Palmolive during the 2nd quarter worth approximately $25,000. Continuum Advisory LLC lifted its position in shares of 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 acquiring an additional 125 shares in the last quarter. Reston Wealth Management LLC acquired a new stake in shares of Colgate-Palmolive during the third quarter valued at $42,000. Capital Performance Advisors LLP purchased a new stake in Colgate-Palmolive during the 3rd quarter worth about $53,000. Finally, Prospera Private Wealth LLC acquired a new position in Colgate-Palmolive in the 3rd quarter valued at about $64,000. Hedge funds and other institutional investors own 80.41% of the company’s stock.

Colgate-Palmolive Stock Up 0.4 %

Shares of Colgate-Palmolive stock opened at $95.34 on Tuesday. Colgate-Palmolive has a twelve month low of $75.50 and a twelve month high of $109.30. The stock has a market cap of $77.89 billion, a price-to-earnings ratio of 27.32, a price-to-earnings-growth ratio of 3.39 and a beta of 0.42. 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 company has a fifty day moving average price of $97.90 and a 200 day moving average price of $98.58.

Colgate-Palmolive Announces Dividend

The business also recently announced 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 2.10%. Colgate-Palmolive’s dividend payout ratio (DPR) is currently 57.31%.

Analyst Ratings Changes

Several equities research analysts have issued reports on CL shares. Stifel Nicolaus cut shares of Colgate-Palmolive from a “buy” rating to a “hold” rating and decreased their price target for the stock from $105.00 to $101.00 in a research note on Monday, October 28th. Wells Fargo & Company cut their price target on Colgate-Palmolive from $100.00 to $92.00 and set an “underweight” rating for the company in a report on Monday, October 28th. Barclays raised their price objective on Colgate-Palmolive from $91.00 to $96.00 and gave the stock an “equal weight” rating in a report on Monday, July 29th. Morgan Stanley upped their target price on Colgate-Palmolive from $103.00 to $111.00 and gave the company an “overweight” rating in a research note on Monday, July 29th. Finally, Deutsche Bank Aktiengesellschaft lowered Colgate-Palmolive from a “buy” rating to a “hold” rating and raised their price target for the stock from $107.00 to $109.00 in a research note on Monday, September 9th. One research 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’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $105.11.

Insider Activity at Colgate-Palmolive

In related news, CFO Stanley J. Sutula III sold 45,410 shares of the firm’s stock in a transaction 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 of the company’s stock, valued at approximately $3,456,283.86. This trade represents a 55.29 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 0.37% 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.