OneAscent Wealth Management LLC Acquires New Stake in Colgate-Palmolive (NYSE:CL)

OneAscent Wealth Management LLC purchased a new position in Colgate-Palmolive (NYSE:CL) during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm purchased 3,576 shares of the company’s stock, valued at approximately $371,000.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. E Fund Management Hong Kong Co. Ltd. purchased a new stake in shares of Colgate-Palmolive during the second quarter valued at $25,000. Continuum Advisory LLC raised its stake in shares of Colgate-Palmolive by 46.5% in the second quarter. Continuum Advisory LLC now owns 394 shares of the company’s stock worth $38,000 after purchasing an additional 125 shares during the last quarter. Reston Wealth Management LLC acquired a new stake in shares of Colgate-Palmolive during the third quarter worth about $42,000. Capital Performance Advisors LLP purchased a new stake in Colgate-Palmolive in the third quarter valued at approximately $53,000. Finally, Gradient Investments LLC raised its position in Colgate-Palmolive by 150.4% during the 2nd quarter. Gradient Investments LLC now owns 666 shares of the company’s stock worth $65,000 after buying an additional 400 shares during the last quarter. Institutional investors own 80.41% of the company’s stock.

Insider Transactions at Colgate-Palmolive

In other news, CFO Stanley J. Sutula III sold 45,410 shares of the stock in a transaction that occurred on Tuesday, November 5th. The stock was 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 directly owns 36,726 shares of the company’s stock, valued at approximately $3,456,283.86. This represents a 55.29 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Martina Hundmejean sold 2,313 shares of Colgate-Palmolive stock in a transaction on Friday, August 23rd. The shares were sold at an average price of $103.86, for a total transaction of $240,228.18. Following the completion of the transaction, the director now directly owns 11,755 shares in the company, valued at $1,220,874.30. The trade was a 16.44 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 0.34% of the company’s stock.

Colgate-Palmolive Trading Up 1.2 %

NYSE:CL opened at $94.65 on Tuesday. The company has a debt-to-equity ratio of 9.46, a quick ratio of 0.68 and a current ratio of 1.04. Colgate-Palmolive has a 1 year low of $75.17 and a 1 year high of $109.30. The stock has a market cap of $77.33 billion, a P/E ratio of 27.12, a P/E/G ratio of 3.34 and a beta of 0.42. The stock has a 50-day simple moving average of $99.06 and a 200-day simple moving average of $98.55.

Colgate-Palmolive Announces Dividend

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

Analysts Set New Price Targets

Several equities research analysts have weighed in on the company. Stifel Nicolaus downgraded Colgate-Palmolive from a “buy” rating to a “hold” rating and cut their price target for the stock from $105.00 to $101.00 in a research report on Monday, October 28th. TD Cowen decreased their price target on Colgate-Palmolive from $115.00 to $110.00 and set a “buy” rating for the company in a report on Monday, October 28th. Morgan Stanley raised their price objective on shares of Colgate-Palmolive from $103.00 to $111.00 and gave the stock an “overweight” rating in a research note on Monday, July 29th. Piper Sandler started coverage on shares of Colgate-Palmolive in a report on Tuesday, September 24th. They set an “overweight” rating and a $121.00 price target on the stock. Finally, Wells Fargo & Company cut their price objective on shares of Colgate-Palmolive from $100.00 to $92.00 and set an “underweight” rating for the company in a report on Monday, October 28th. One analyst has rated the stock with a sell rating, nine have issued a hold rating and thirteen have given a buy rating to the company. According to data from MarketBeat, Colgate-Palmolive has an average rating of “Moderate Buy” and a consensus target price of $105.11.

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.