Oppenheimer & Co. Inc. Buys 1,501 Shares of Colgate-Palmolive (NYSE:CL)

Oppenheimer & Co. Inc. raised its stake in Colgate-Palmolive (NYSE:CL) by 4.3% during the third quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 36,718 shares of the company’s stock after acquiring an additional 1,501 shares during the period. Oppenheimer & Co. Inc.’s holdings in Colgate-Palmolive were worth $3,812,000 as of its most recent SEC filing.

Several other hedge funds have also bought and sold shares of the stock. GHE LLC raised its holdings in shares of Colgate-Palmolive by 1.6% during the 3rd quarter. GHE LLC now owns 20,938 shares of the company’s stock worth $2,138,000 after acquiring an additional 338 shares in the last quarter. Pinnacle Financial Partners Inc increased its position in Colgate-Palmolive by 1.1% in the third quarter. Pinnacle Financial Partners Inc now owns 25,117 shares of the company’s stock worth $2,607,000 after purchasing an additional 279 shares during the last quarter. MQS Management LLC purchased a new stake in Colgate-Palmolive during the third quarter valued at $1,054,000. Empower Advisory Group LLC lifted its position in Colgate-Palmolive by 4.9% during the third quarter. Empower Advisory Group LLC now owns 173,798 shares of the company’s stock valued at $18,042,000 after purchasing an additional 8,047 shares during the last quarter. Finally, Carrera Capital Advisors lifted its position in Colgate-Palmolive by 23.1% during the third quarter. Carrera Capital Advisors now owns 39,170 shares of the company’s stock valued at $4,066,000 after purchasing an additional 7,353 shares during the last quarter. Hedge funds and other institutional investors own 80.41% of the company’s stock.

Colgate-Palmolive Trading Up 2.3 %

CL opened at $93.58 on Friday. Colgate-Palmolive has a 52 week low of $75.17 and a 52 week high of $109.30. The company has a market capitalization of $76.46 billion, a P/E ratio of 26.81, a PEG ratio of 3.25 and a beta of 0.42. The stock’s fifty day moving average is $99.60 and its two-hundred day moving average is $98.43. 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 Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, November 15th. Investors of record on Friday, October 18th were issued a $0.50 dividend. The ex-dividend date was Friday, October 18th. This represents a $2.00 annualized dividend and a dividend yield of 2.14%. Colgate-Palmolive’s payout ratio is currently 57.31%.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on CL. Hsbc Global Res cut shares of Colgate-Palmolive from a “strong-buy” rating to a “hold” rating in a research report on Friday, July 26th. Jefferies Financial Group downgraded Colgate-Palmolive from a “buy” rating to a “hold” rating and decreased their price objective for the company from $103.00 to $95.00 in a research report on Wednesday, July 24th. Wells Fargo & Company dropped their target price on Colgate-Palmolive from $100.00 to $92.00 and set an “underweight” rating for the company in a 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 on the stock in a report on Monday, October 28th. Finally, HSBC reiterated a “hold” rating on shares of Colgate-Palmolive in a research report on Friday, July 26th. One 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. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $105.11.

Insider Buying and Selling

In other news, CFO Stanley J. Sutula III sold 45,410 shares of the firm’s stock in a transaction 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 owns 36,726 shares of the company’s stock, valued at $3,456,283.86. This trade represents a 55.29 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Martina Hundmejean sold 2,313 shares of the company’s stock in a transaction dated Friday, August 23rd. The shares were sold at an average price of $103.86, for a total value of $240,228.18. Following the transaction, the director now directly owns 11,755 shares in the company, valued at $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. 0.34% of the stock is owned by insiders.

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.