Bridgewater Associates LP Sells 672,617 Shares of Colgate-Palmolive (NYSE:CL)

Bridgewater Associates LP trimmed its position in Colgate-Palmolive (NYSE:CL) by 52.6% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 606,621 shares of the company’s stock after selling 672,617 shares during the quarter. Bridgewater Associates LP owned about 0.07% of Colgate-Palmolive worth $62,973,000 at the end of the most recent reporting period.

Several other large investors have also recently made changes to their positions in CL. Gordian Advisors LLC bought a new stake in Colgate-Palmolive during the third quarter worth approximately $602,000. Carrera Capital Advisors increased its stake in Colgate-Palmolive by 23.1% during the third quarter. Carrera Capital Advisors now owns 39,170 shares of the company’s stock worth $4,066,000 after acquiring an additional 7,353 shares during the last quarter. Vontobel Holding Ltd. increased its stake in Colgate-Palmolive by 224.6% during the third quarter. Vontobel Holding Ltd. now owns 795,938 shares of the company’s stock worth $82,626,000 after acquiring an additional 550,750 shares during the last quarter. PGGM Investments increased its stake in Colgate-Palmolive by 171.8% during the second quarter. PGGM Investments now owns 157,608 shares of the company’s stock worth $15,294,000 after acquiring an additional 99,624 shares during the last quarter. Finally, QRG Capital Management Inc. grew its stake in shares of Colgate-Palmolive by 11.2% during the second quarter. QRG Capital Management Inc. now owns 57,275 shares of the company’s stock valued at $5,558,000 after buying an additional 5,751 shares during the last quarter. 80.41% of the stock is owned by institutional investors.

Colgate-Palmolive Stock Up 1.3 %

Colgate-Palmolive stock opened at $96.59 on Wednesday. The business has a fifty day moving average of $97.74 and a two-hundred day moving average of $98.59. The company has a quick ratio of 0.68, a current ratio of 1.04 and a debt-to-equity ratio of 9.46. The firm has a market cap of $78.91 billion, a P/E ratio of 27.68, a P/E/G ratio of 3.40 and a beta of 0.42. Colgate-Palmolive has a twelve month low of $75.50 and a twelve month high of $109.30.

Colgate-Palmolive Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, November 15th. Stockholders of record on Friday, October 18th were given a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a dividend yield of 2.07%. The ex-dividend date of this dividend was Friday, October 18th. Colgate-Palmolive’s payout ratio is presently 57.31%.

Insider Transactions at Colgate-Palmolive

In other news, CFO Stanley J. Sutula III sold 45,410 shares of the company’s stock in a transaction 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 transaction, the chief financial officer now directly owns 36,726 shares of the company’s stock, valued at approximately $3,456,283.86. This represents a 55.29 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders own 0.37% of the company’s stock.

Wall Street Analysts Forecast Growth

CL has been the topic of a number of analyst reports. Deutsche Bank Aktiengesellschaft cut Colgate-Palmolive from a “buy” rating to a “hold” rating and upped their target price for the company from $107.00 to $109.00 in a research note on Monday, September 9th. JPMorgan Chase & Co. upped their target price on Colgate-Palmolive from $113.00 to $114.00 and gave the company an “overweight” rating in a research note on Friday, October 11th. 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. UBS Group boosted their price target on Colgate-Palmolive from $119.00 to $122.00 and gave the company a “buy” rating in a report on Wednesday, September 4th. Finally, Stifel Nicolaus lowered Colgate-Palmolive from a “buy” rating to a “hold” rating and lowered their price target for the company from $105.00 to $101.00 in a report on Monday, October 28th. One investment analyst has rated the stock with a sell rating, nine have given a hold rating and thirteen have issued a buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $105.11.

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.