Kestra Investment Management LLC Takes $1.08 Million Position in Colgate-Palmolive (NYSE:CL)

Kestra Investment Management LLC acquired a new position in Colgate-Palmolive (NYSE:CL) in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor acquired 10,395 shares of the company’s stock, valued at approximately $1,079,000.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Massachusetts Financial Services Co. MA boosted its position in shares of Colgate-Palmolive by 6.2% during the 3rd quarter. Massachusetts Financial Services Co. MA now owns 9,526,990 shares of the company’s stock worth $988,997,000 after purchasing an additional 557,492 shares during the period. Legal & General Group Plc boosted its position in shares of Colgate-Palmolive by 0.8% during the second quarter. Legal & General Group Plc now owns 7,785,101 shares of the company’s stock worth $755,465,000 after buying an additional 61,413 shares during the period. FMR LLC grew its stake in shares of Colgate-Palmolive by 65.6% in the third quarter. FMR LLC now owns 6,749,275 shares of the company’s stock valued at $700,642,000 after buying an additional 2,674,807 shares in the last quarter. Acadian Asset Management LLC raised its holdings in shares of Colgate-Palmolive by 108.4% in the 2nd quarter. Acadian Asset Management LLC now owns 5,682,280 shares of the company’s stock valued at $551,367,000 after buying an additional 2,955,442 shares during the period. Finally, Charles Schwab Investment Management Inc. lifted its stake in Colgate-Palmolive by 0.3% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 4,595,245 shares of the company’s stock worth $477,032,000 after acquiring an additional 11,750 shares in the last quarter. Institutional investors and hedge funds own 80.41% of the company’s stock.

Colgate-Palmolive Price Performance

Shares of CL opened at $96.63 on Monday. The firm has a fifty day moving average price of $97.38 and a 200 day moving average price of $98.64. The stock has a market cap of $78.95 billion, a PE ratio of 27.69, a price-to-earnings-growth ratio of 3.45 and a beta of 0.42. Colgate-Palmolive has a 1-year low of $75.50 and a 1-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 0.68.

Colgate-Palmolive Announces Dividend

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

Wall Street Analyst Weigh In

CL has been the topic of several research reports. UBS Group increased their price target on shares of Colgate-Palmolive from $119.00 to $122.00 and gave the stock a “buy” rating in a research report on Wednesday, September 4th. TD Cowen decreased their price target on shares of Colgate-Palmolive from $115.00 to $110.00 and set a “buy” rating for the company in a research report on Monday, October 28th. JPMorgan Chase & Co. boosted their price target on shares of Colgate-Palmolive from $113.00 to $114.00 and gave the stock an “overweight” rating in a research note on Friday, October 11th. Wells Fargo & Company decreased their target price on Colgate-Palmolive from $100.00 to $92.00 and set an “underweight” rating for the company in a report on Monday, October 28th. Finally, Deutsche Bank Aktiengesellschaft cut Colgate-Palmolive from a “buy” rating to a “hold” rating and boosted their target price for the stock from $107.00 to $109.00 in a research note on Monday, September 9th. One investment analyst has rated the stock with a sell rating, nine have issued a hold rating and thirteen have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Colgate-Palmolive currently has a consensus rating of “Moderate Buy” and a consensus price target of $105.11.

Insider Activity at Colgate-Palmolive

In related 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 value 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 $3,456,283.86. This represents a 55.29 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 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.