Victory Capital Management Inc. Increases Stake in Colgate-Palmolive (NYSE:CL)

Victory Capital Management Inc. raised its position in Colgate-Palmolive (NYSE:CL) by 17.4% during the third quarter, HoldingsChannel.com reports. The firm owned 2,475,066 shares of the company’s stock after buying an additional 366,708 shares during the quarter. Victory Capital Management Inc.’s holdings in Colgate-Palmolive were worth $256,937,000 at the end of the most recent quarter.

Several other hedge funds have also recently bought and sold shares of CL. E Fund Management Hong Kong Co. Ltd. purchased a new stake in shares of Colgate-Palmolive during the 2nd quarter valued at about $25,000. Continuum Advisory LLC boosted its position in Colgate-Palmolive by 46.5% in 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 during the last quarter. Reston Wealth Management LLC acquired a new stake in shares of Colgate-Palmolive during the third quarter worth approximately $42,000. Capital Performance Advisors LLP acquired a new stake in Colgate-Palmolive in the third quarter valued at $53,000. Finally, Gradient Investments LLC boosted its stake 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 acquiring an additional 400 shares during the last quarter. Hedge funds and other institutional investors own 80.41% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts have recently commented on CL shares. Barclays increased their price target on shares of Colgate-Palmolive from $91.00 to $96.00 and gave the stock an “equal weight” rating in a research report on Monday, July 29th. Redburn Atlantic upgraded shares of Colgate-Palmolive to a “hold” rating in a research note on Thursday, August 1st. Stifel Nicolaus downgraded Colgate-Palmolive from a “buy” rating to a “hold” rating and cut their price target for the stock from $105.00 to $101.00 in a report on Monday, October 28th. Piper Sandler assumed coverage on Colgate-Palmolive in a research note on Tuesday, September 24th. They set an “overweight” rating and a $121.00 price objective for the company. Finally, Wells Fargo & Company cut their target price on Colgate-Palmolive from $100.00 to $92.00 and set an “underweight” rating on the stock in a research note on Monday, October 28th. One equities research analyst has rated the stock with a sell rating, nine have issued a hold rating and thirteen have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $105.11.

Colgate-Palmolive Price Performance

Shares of CL traded down $0.11 on Tuesday, hitting $91.85. The company’s stock had a trading volume of 1,121,912 shares, compared to its average volume of 4,359,811. The company has a market capitalization of $75.04 billion, a PE ratio of 26.36, a PEG ratio of 3.31 and a beta of 0.42. Colgate-Palmolive has a fifty-two week low of $75.17 and a fifty-two week high of $109.30. The company has a 50 day moving average price of $100.62 and a 200 day moving average price of $98.52. The company has a debt-to-equity ratio of 9.46, a current ratio of 1.04 and a quick ratio of 0.68.

Colgate-Palmolive Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, November 15th. Investors of record on Friday, October 18th will be issued a $0.50 dividend. The ex-dividend date of this dividend is Friday, October 18th. This represents a $2.00 dividend on an annualized basis and a dividend yield of 2.18%. Colgate-Palmolive’s dividend payout ratio is 57.31%.

Insiders Place Their Bets

In related news, Director Martina Hundmejean sold 2,313 shares of the business’s stock in a transaction that occurred 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 in the company, valued at $1,220,874.30. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. In other Colgate-Palmolive news, Director Martina Hundmejean sold 2,313 shares of the company’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 transaction, the director now directly owns 11,755 shares in the company, valued at approximately $1,220,874.30. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CFO Stanley J. Sutula III sold 45,410 shares of Colgate-Palmolive stock in a transaction that occurred on Tuesday, November 5th. The stock was sold at an average price of $94.11, for a total transaction of $4,273,535.10. Following the sale, the chief financial officer now owns 36,726 shares of the company’s stock, valued at approximately $3,456,283.86. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders own 0.34% of the company’s stock.

Colgate-Palmolive 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.