Baron Wealth Management LLC Takes $245,000 Position in Colgate-Palmolive (NYSE:CL)

Baron Wealth Management LLC bought a new stake in Colgate-Palmolive (NYSE:CL) in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 2,363 shares of the company’s stock, valued at approximately $245,000.

Other large investors have also modified their holdings of the company. E Fund Management Hong Kong Co. Ltd. acquired a new position in shares of Colgate-Palmolive in the second quarter valued at $25,000. Continuum Advisory LLC raised its stake in Colgate-Palmolive by 46.5% during the second quarter. Continuum Advisory LLC now owns 394 shares of the company’s stock worth $38,000 after acquiring an additional 125 shares in the last quarter. Reston Wealth Management LLC acquired a new position in Colgate-Palmolive during the third quarter worth $42,000. Capital Performance Advisors LLP acquired a new position in Colgate-Palmolive during the third quarter worth $53,000. Finally, Gradient Investments LLC grew its holdings in shares of Colgate-Palmolive by 150.4% during the second quarter. Gradient Investments LLC now owns 666 shares of the company’s stock worth $65,000 after purchasing an additional 400 shares during the last quarter. 80.41% of the stock is currently owned by institutional investors and hedge funds.

Colgate-Palmolive Stock Performance

Colgate-Palmolive stock opened at $94.65 on Tuesday. Colgate-Palmolive has a 12-month low of $75.17 and a 12-month high of $109.30. 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 business’s 50-day moving average price is $99.06 and its two-hundred day moving average price is $98.55. The stock has a market cap of $77.33 billion, a PE ratio of 27.12, a P/E/G ratio of 3.34 and a beta of 0.42.

Colgate-Palmolive Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, November 15th. Shareholders of record on Friday, October 18th were given a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a yield of 2.11%. The ex-dividend date was Friday, October 18th. Colgate-Palmolive’s dividend payout ratio is presently 57.31%.

Wall Street Analysts Forecast Growth

Several analysts have recently commented on the company. Wells Fargo & Company decreased their target price on Colgate-Palmolive from $100.00 to $92.00 and set an “underweight” rating on the stock in a report on Monday, October 28th. Barclays raised their price target on Colgate-Palmolive from $91.00 to $96.00 and gave the company an “equal weight” rating in a report on Monday, July 29th. Jefferies Financial Group cut Colgate-Palmolive from a “buy” rating to a “hold” rating and decreased their price target for the company from $103.00 to $95.00 in a report on Wednesday, July 24th. Deutsche Bank Aktiengesellschaft cut Colgate-Palmolive from a “buy” rating to a “hold” rating and upped their price target for the company from $107.00 to $109.00 in a research note on Monday, September 9th. Finally, TD Cowen cut their price target on shares of Colgate-Palmolive from $115.00 to $110.00 and set a “buy” rating on the stock in a research report on Monday, October 28th. One 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, Colgate-Palmolive currently has an average rating of “Moderate Buy” and a consensus price target of $105.11.

Insider Buying and Selling at Colgate-Palmolive

In other news, CFO Stanley J. Sutula III sold 45,410 shares of the business’s stock in a transaction dated 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 directly owns 36,726 shares in the company, valued at approximately $3,456,283.86. The trade was a 55.29 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Martina Hundmejean sold 2,313 shares of Colgate-Palmolive stock in a transaction that occurred on Friday, August 23rd. The stock was 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 directly owns 11,755 shares in the company, valued at approximately $1,220,874.30. This represents a 16.44 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 0.34% of the company’s stock.

Colgate-Palmolive Company 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.