Diversify Wealth Management LLC Makes New Investment in Colgate-Palmolive (NYSE:CL)

Diversify Wealth Management LLC purchased a new stake in shares of Colgate-Palmolive (NYSE:CL) during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm purchased 7,527 shares of the company’s stock, valued at approximately $650,000.

Other institutional investors and hedge funds have also modified their holdings of the company. XTX Topco Ltd bought a new stake in shares of Colgate-Palmolive during the 2nd quarter worth about $423,000. AE Wealth Management LLC boosted its position in Colgate-Palmolive by 70.9% during the second quarter. AE Wealth Management LLC now owns 22,607 shares of the company’s stock worth $2,194,000 after purchasing an additional 9,382 shares during the period. Frank Rimerman Advisors LLC grew its holdings in Colgate-Palmolive by 6,205.3% during the second quarter. Frank Rimerman Advisors LLC now owns 5,927 shares of the company’s stock valued at $575,000 after purchasing an additional 5,833 shares during the last quarter. Mount Yale Investment Advisors LLC bought a new position in shares of Colgate-Palmolive in the second quarter valued at approximately $421,000. Finally, EverSource Wealth Advisors LLC lifted its stake in shares of Colgate-Palmolive by 79.7% in the second quarter. EverSource Wealth Advisors LLC now owns 3,504 shares of the company’s stock worth $348,000 after buying an additional 1,554 shares during the last quarter. Institutional investors and hedge funds own 80.41% of the company’s stock.

Analyst Ratings Changes

A number of research analysts have weighed in on CL shares. Stifel Nicolaus cut their target price on shares of Colgate-Palmolive from $101.00 to $95.00 and set a “hold” rating for the company in a research report on Friday, January 17th. Wells Fargo & Company decreased their target price on Colgate-Palmolive from $92.00 to $83.00 and set an “underweight” rating for the company in a research note on Tuesday, January 7th. Barclays dropped their price target on Colgate-Palmolive from $96.00 to $83.00 and set an “equal weight” rating on the stock in a research report on Friday, January 17th. StockNews.com cut Colgate-Palmolive from a “buy” rating to a “hold” rating in a research report on Thursday, January 9th. Finally, Piper Sandler dropped their target price on shares of Colgate-Palmolive from $121.00 to $112.00 and set an “overweight” rating on the stock in a research report on Monday, January 6th. 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 data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $101.11.

Colgate-Palmolive Stock Down 0.5 %

Shares of NYSE CL opened at $88.27 on Wednesday. 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 company has a market cap of $72.12 billion, a price-to-earnings ratio of 25.29, a price-to-earnings-growth ratio of 3.62 and a beta of 0.44. Colgate-Palmolive has a 12-month low of $79.69 and a 12-month high of $109.30. The firm’s 50-day simple moving average is $92.13 and its 200 day simple moving average is $97.71.

Colgate-Palmolive Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, February 14th. Shareholders of record on Tuesday, January 21st will be given a $0.50 dividend. The ex-dividend date is Tuesday, January 21st. This represents a $2.00 dividend on an annualized basis and a yield of 2.27%. Colgate-Palmolive’s payout ratio is 57.31%.

Insider Activity

In other Colgate-Palmolive news, CFO Stanley J. Sutula III sold 45,410 shares of the company’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 owns 36,726 shares in the company, valued at approximately $3,456,283.86. The trade was a 55.29 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Insiders own 0.37% of the company’s stock.

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.