Colgate-Palmolive (CL) Shares Sold by Lord Abbett & CO. LLC
Lord Abbett & CO. LLC lessened its holdings in shares of Colgate-Palmolive (NYSE:CL) by 23.3% in the second quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 538,681 shares of the company’s stock after selling 163,346 shares during the quarter. Lord Abbett & CO. LLC owned 0.06% of Colgate-Palmolive worth $39,933,000 as of its most recent filing with the SEC.
A number of other institutional investors and hedge funds have also bought and sold shares of CL. American Beacon Advisors Inc. acquired a new stake in Colgate-Palmolive in the first quarter valued at approximately $102,000. Proficio Capital Partners LLC grew its position in Colgate-Palmolive by 16.9% in the first quarter. Proficio Capital Partners LLC now owns 1,432 shares of the company’s stock valued at $107,000 after acquiring an additional 207 shares in the last quarter. OLD Second National Bank of Aurora acquired a new stake in Colgate-Palmolive in the second quarter valued at approximately $109,000. Krilogy Financial LLC grew its position in Colgate-Palmolive by 23.0% in the second quarter. Krilogy Financial LLC now owns 1,547 shares of the company’s stock valued at $115,000 after acquiring an additional 289 shares in the last quarter. Finally, Harbour Capital Advisors LLC acquired a new stake in Colgate-Palmolive in the first quarter valued at approximately $121,000. 72.96% of the stock is owned by hedge funds and other institutional investors.
Colgate-Palmolive (NYSE CL) opened at $72.49 on Wednesday. Colgate-Palmolive has a one year low of $63.43 and a one year high of $77.27. The stock has a market capitalization of $64,250.96, a price-to-earnings ratio of 25.50, a P/E/G ratio of 3.35 and a beta of 0.81. The company has a debt-to-equity ratio of 24.42, a quick ratio of 0.92 and a current ratio of 1.23.
The company also recently disclosed a quarterly dividend, which was paid on Wednesday, November 15th. Investors of record on Monday, October 23rd were paid a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a yield of 2.21%. The ex-dividend date of this dividend was Friday, October 20th. Colgate-Palmolive’s dividend payout ratio (DPR) is presently 61.78%.
A number of research firms have recently weighed in on CL. SunTrust Banks raised shares of Colgate-Palmolive from a “hold” rating to a “buy” rating and raised their price target for the stock from $65.00 to $85.00 in a research report on Wednesday, October 11th. Societe Generale downgraded shares of Colgate-Palmolive from a “hold” rating to a “sell” rating and set a $66.00 price target for the company. in a research report on Wednesday, November 29th. They noted that the move was a valuation call. Citigroup decreased their price target on shares of Colgate-Palmolive from $76.00 to $75.00 and set a “neutral” rating for the company in a research report on Thursday, November 2nd. Stifel Nicolaus set a $73.00 price target on shares of Colgate-Palmolive and gave the stock a “hold” rating in a research report on Sunday, October 29th. Finally, Royal Bank of Canada reissued a “hold” rating and set a $74.00 price target on shares of Colgate-Palmolive in a research report on Sunday, October 8th. Two research analysts have rated the stock with a sell rating, fifteen have given a hold rating and four have given a buy rating to the company’s stock. Colgate-Palmolive presently has a consensus rating of “Hold” and an average target price of $76.04.
In other Colgate-Palmolive news, Director Stephen I. Sadove sold 20,780 shares of the firm’s stock in a transaction on Monday, November 6th. The stock was sold at an average price of $70.52, for a total value of $1,465,405.60. Following the sale, the director now directly owns 36,268 shares in the company, valued at $2,557,619.36. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CMO Mukul Deoras sold 7,500 shares of the firm’s stock in a transaction on Friday, November 10th. The shares were sold at an average price of $73.28, for a total value of $549,600.00. Following the completion of the sale, the chief marketing officer now owns 45,217 shares in the company, valued at $3,313,501.76. The disclosure for this sale can be found here. Insiders have sold 173,673 shares of company stock worth $12,629,293 over the last 90 days. 1.02% of the stock is currently owned by company insiders.
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Colgate-Palmolive Company (Colgate) is a consumer products company. The Company operates in two product segments: Oral, Personal and Home Care, and Pet Nutrition. The Oral, Personal and Home Care product segment is operated through five geographic segments, which include North America, Latin America, Europe, Asia Pacific and Africa/Eurasia.
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