Colgate-Palmolive (NYSE:CL) Position Cut by Fort Pitt Capital Group LLC

Fort Pitt Capital Group LLC reduced its position in shares of Colgate-Palmolive (NYSE:CL) by 20.1% in the third quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 2,532 shares of the company’s stock after selling 636 shares during the quarter. Fort Pitt Capital Group LLC’s holdings in Colgate-Palmolive were worth $263,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in CL. E Fund Management Hong Kong Co. Ltd. bought a new position in Colgate-Palmolive during the 2nd quarter valued at $25,000. Continuum Advisory LLC lifted its position in shares of 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 acquiring an additional 125 shares during the last quarter. Reston Wealth Management LLC acquired a new stake in shares of Colgate-Palmolive during the 3rd quarter valued at $42,000. Gradient Investments LLC lifted its position in shares of 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 acquiring an additional 400 shares during the last quarter. Finally, Financial Connections Group Inc. acquired a new stake in shares of Colgate-Palmolive during the 2nd quarter valued at $68,000. 80.41% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of brokerages have recently commented on CL. Citigroup increased their price objective on Colgate-Palmolive from $103.00 to $112.00 and gave the company a “buy” rating in a research report on Wednesday, July 10th. Jefferies Financial Group downgraded Colgate-Palmolive from a “buy” rating to a “hold” rating and cut their price objective for the company from $103.00 to $95.00 in a research report on Wednesday, July 24th. Barclays increased their price objective on Colgate-Palmolive from $91.00 to $96.00 and gave the company an “equal weight” rating in a research report on Monday, July 29th. TD Cowen cut their price objective on Colgate-Palmolive from $115.00 to $110.00 and set a “buy” rating for the company in a research report on Monday, October 28th. Finally, Redburn Atlantic upgraded Colgate-Palmolive to a “hold” rating in a report on Thursday, August 1st. One equities research analyst has rated the stock with a sell rating, ten have issued a hold rating and twelve have assigned a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $105.11.

Colgate-Palmolive Trading Down 0.4 %

Colgate-Palmolive stock opened at $93.33 on Friday. The company has a market capitalization of $76.25 billion, a price-to-earnings ratio of 26.74, a PEG ratio of 3.38 and a beta of 0.40. The company’s fifty day moving average price is $102.26 and its two-hundred day moving average price is $98.27. Colgate-Palmolive has a one year low of $74.22 and a one year high of $109.30. The company has a debt-to-equity ratio of 9.46, a current ratio of 1.04 and a quick ratio of 0.28.

Colgate-Palmolive Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, November 15th. Stockholders of record on Friday, October 18th will be given a $0.50 dividend. This represents a $2.00 annualized dividend and a dividend yield of 2.14%. The ex-dividend date of this dividend is Friday, October 18th. Colgate-Palmolive’s dividend payout ratio is currently 57.31%.

Insider Activity

In related news, EVP Gregory Malcolm sold 10,533 shares of Colgate-Palmolive stock in a transaction dated Tuesday, August 6th. The stock was sold at an average price of $103.10, for a total transaction of $1,085,952.30. Following the sale, the executive vice president now directly owns 10,377 shares of the company’s stock, valued at $1,069,868.70. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In other Colgate-Palmolive news, Director Martina Hundmejean sold 2,313 shares of the firm’s stock in a transaction dated Friday, August 23rd. The shares were sold at an average price of $103.86, for a total transaction of $240,228.18. Following the completion of the transaction, the director now owns 11,755 shares in the company, valued at $1,220,874.30. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, EVP Gregory Malcolm sold 10,533 shares of the firm’s stock in a transaction dated Tuesday, August 6th. The stock was sold at an average price of $103.10, for a total transaction of $1,085,952.30. Following the transaction, the executive vice president now owns 10,377 shares of the company’s stock, valued at approximately $1,069,868.70. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 43,490 shares of company stock valued at $4,486,063. 0.34% of the stock is owned by 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.