Sigma Planning Corp Sells 2,795 Shares of Colgate-Palmolive (NYSE:CL)

Sigma Planning Corp lowered its position in shares of Colgate-Palmolive (NYSE:CL) by 28.8% during the third quarter, HoldingsChannel.com reports. The fund owned 6,925 shares of the company’s stock after selling 2,795 shares during the quarter. Sigma Planning Corp’s holdings in Colgate-Palmolive were worth $719,000 at the end of the most recent quarter.

Several other hedge funds have also recently made changes to their positions in CL. Main Street Research LLC grew its holdings in Colgate-Palmolive by 1.5% in the second quarter. Main Street Research LLC now owns 6,939 shares of the company’s stock worth $673,000 after purchasing an additional 100 shares during the period. Advisor OS LLC boosted its holdings in Colgate-Palmolive by 4.5% in the second quarter. Advisor OS LLC now owns 2,348 shares of the company’s stock worth $228,000 after acquiring an additional 101 shares in the last quarter. BLB&B Advisors LLC grew its stake in Colgate-Palmolive by 2.5% in the second quarter. BLB&B Advisors LLC now owns 4,337 shares of the company’s stock valued at $421,000 after acquiring an additional 104 shares during the period. ZWJ Investment Counsel Inc. increased its holdings in shares of Colgate-Palmolive by 3.1% during the second quarter. ZWJ Investment Counsel Inc. now owns 3,591 shares of the company’s stock valued at $349,000 after acquiring an additional 109 shares in the last quarter. Finally, Hexagon Capital Partners LLC raised its position in shares of Colgate-Palmolive by 9.5% during the second quarter. Hexagon Capital Partners LLC now owns 1,274 shares of the company’s stock worth $124,000 after purchasing an additional 110 shares during the period. 80.41% of the stock is owned by institutional investors.

Insider Activity

In related news, CFO Stanley J. Sutula III sold 45,410 shares of the company’s stock in a transaction that occurred 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 transaction, the chief financial officer now directly owns 36,726 shares in the company, 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 document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Martina Hundmejean sold 2,313 shares of the business’s stock in a transaction that occurred 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 completion of the transaction, the director now directly owns 11,755 shares of the company’s stock, valued at approximately $1,220,874.30. This represents a 16.44 % decrease in their position. The disclosure for this sale can be found here. 0.34% of the stock is owned by company insiders.

Analyst Ratings Changes

A number of analysts have commented on the stock. HSBC restated a “hold” rating on shares of Colgate-Palmolive in a research note on Friday, July 26th. Jefferies Financial Group cut shares of Colgate-Palmolive from a “buy” rating to a “hold” rating and dropped their price target for the company from $103.00 to $95.00 in a research report on Wednesday, July 24th. Piper Sandler began coverage on Colgate-Palmolive in a report on Tuesday, September 24th. They set an “overweight” rating and a $121.00 price objective for the company. TD Cowen dropped their target price on Colgate-Palmolive from $115.00 to $110.00 and set a “buy” rating on the stock in a report on Monday, October 28th. Finally, Evercore ISI upped their target price on shares of Colgate-Palmolive from $100.00 to $106.00 and gave the stock an “outperform” rating in a research note on Thursday, July 18th. One equities research analyst has rated the stock with a sell rating, nine have assigned a hold rating and thirteen have given a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $105.11.

Colgate-Palmolive Stock Performance

NYSE CL opened at $91.44 on Friday. The company’s 50 day moving average is $99.94 and its 200-day moving average is $98.48. 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 firm has a market cap of $74.71 billion, a P/E ratio of 26.20, a price-to-earnings-growth ratio of 3.27 and a beta of 0.42.

Colgate-Palmolive Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, November 15th. Stockholders of record on Friday, October 18th will be issued a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a dividend yield of 2.19%. The ex-dividend date is Friday, October 18th. Colgate-Palmolive’s payout ratio is 57.31%.

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.