Chesapeake Wealth Management Raises Holdings in Colgate-Palmolive (NYSE:CL)

Chesapeake Wealth Management grew its holdings in Colgate-Palmolive (NYSE:CL) by 8.3% in the 3rd quarter, according to the company in its most recent filing with the SEC. The firm owned 5,227 shares of the company’s stock after buying an additional 400 shares during the quarter. Chesapeake Wealth Management’s holdings in Colgate-Palmolive were worth $543,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also bought and sold shares of the company. E Fund Management Hong Kong Co. Ltd. purchased a new stake in Colgate-Palmolive in the 2nd quarter worth approximately $25,000. Continuum Advisory LLC raised its position in shares of Colgate-Palmolive by 46.5% in the 2nd 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 bought a new position in shares of Colgate-Palmolive in the 3rd quarter worth approximately $42,000. Capital Performance Advisors LLP bought a new position in shares of Colgate-Palmolive in the 3rd quarter worth approximately $53,000. Finally, Gradient Investments LLC raised its position in shares of Colgate-Palmolive by 150.4% in the 2nd quarter. Gradient Investments LLC now owns 666 shares of the company’s stock worth $65,000 after acquiring an additional 400 shares in the last quarter. Hedge funds and other institutional investors own 80.41% of the company’s stock.

Colgate-Palmolive Stock Performance

NYSE:CL opened at $94.65 on Tuesday. The company has a fifty day simple moving average of $99.06 and a two-hundred day simple moving average of $98.55. The company has a market cap of $77.33 billion, a price-to-earnings ratio of 27.12, a price-to-earnings-growth ratio of 3.34 and a beta of 0.42. The company has a quick ratio of 0.68, a current ratio of 1.04 and a debt-to-equity ratio of 9.46. Colgate-Palmolive has a 52 week low of $75.17 and a 52 week high of $109.30.

Colgate-Palmolive Dividend Announcement

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

Insider Buying and Selling

In related news, CFO Stanley J. Sutula III sold 45,410 shares of the business’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 transaction, 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 ownership of the stock. The sale 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 the business’s stock in a transaction on Friday, August 23rd. The stock was sold at an average price of $103.86, for a total transaction of $240,228.18. Following the transaction, the director now owns 11,755 shares of the company’s stock, valued at approximately $1,220,874.30. The trade was a 16.44 % decrease in their position. The disclosure for this sale can be found here. Insiders own 0.37% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts have recently issued reports on CL shares. Deutsche Bank Aktiengesellschaft lowered Colgate-Palmolive from a “buy” rating to a “hold” rating and increased their target price for the stock from $107.00 to $109.00 in a research report on Monday, September 9th. JPMorgan Chase & Co. lifted their target price on Colgate-Palmolive from $113.00 to $114.00 and gave the stock an “overweight” rating in a report on Friday, October 11th. Piper Sandler began coverage on Colgate-Palmolive in a research note on Tuesday, September 24th. They issued an “overweight” rating and a $121.00 price target on the stock. TD Cowen dropped their price target on Colgate-Palmolive from $115.00 to $110.00 and set a “buy” rating on the stock in a research note on Monday, October 28th. Finally, Hsbc Global Res downgraded Colgate-Palmolive from a “strong-buy” rating to a “hold” rating in a research report on Friday, July 26th. One equities research 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’s stock. Based on data from MarketBeat, Colgate-Palmolive presently has an average rating of “Moderate Buy” and a consensus price target 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.