Meridian Wealth Management LLC Takes $1.13 Million Position in Colgate-Palmolive (NYSE:CL)

Meridian Wealth Management LLC purchased a new position in shares of Colgate-Palmolive (NYSE:CL) during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund purchased 10,913 shares of the company’s stock, valued at approximately $1,133,000.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the stock. Advisors Asset Management Inc. grew its holdings in Colgate-Palmolive by 263.2% during the 1st quarter. Advisors Asset Management Inc. now owns 27,126 shares of the company’s stock valued at $2,443,000 after purchasing an additional 19,657 shares in the last quarter. 1832 Asset Management L.P. grew its stake in shares of Colgate-Palmolive by 4,847.3% during the first quarter. 1832 Asset Management L.P. now owns 9,301 shares of the company’s stock valued at $838,000 after acquiring an additional 9,113 shares in the last quarter. SVB Wealth LLC increased its position in shares of Colgate-Palmolive by 2.7% during the first quarter. SVB Wealth LLC now owns 34,883 shares of the company’s stock worth $3,141,000 after acquiring an additional 920 shares during the last quarter. Industrial Alliance Investment Management Inc. lifted its stake in shares of Colgate-Palmolive by 4.4% in the first quarter. Industrial Alliance Investment Management Inc. now owns 4,185 shares of the company’s stock worth $377,000 after acquiring an additional 176 shares in the last quarter. Finally, B. Riley Wealth Advisors Inc. boosted its holdings in Colgate-Palmolive by 0.8% in the first quarter. B. Riley Wealth Advisors Inc. now owns 16,639 shares of the company’s stock valued at $1,498,000 after purchasing an additional 138 shares during the last quarter. Hedge funds and other institutional investors own 80.41% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have issued reports on the company. StockNews.com upgraded Colgate-Palmolive from a “hold” rating to a “buy” rating in a report on Thursday, November 14th. Barclays upped their price target on shares of Colgate-Palmolive from $91.00 to $96.00 and gave the company an “equal weight” rating in a report on Monday, July 29th. UBS Group raised their price objective on shares of Colgate-Palmolive from $119.00 to $122.00 and gave the stock a “buy” rating in a report on Wednesday, September 4th. Wells Fargo & Company cut their target price on shares of Colgate-Palmolive from $100.00 to $92.00 and set an “underweight” rating on the stock in a research note on Monday, October 28th. Finally, Morgan Stanley lifted their price target on Colgate-Palmolive from $103.00 to $111.00 and gave the stock an “overweight” rating in a research note on Monday, July 29th. One 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. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $105.11.

Colgate-Palmolive Stock Performance

CL opened at $94.92 on Friday. The company has a current ratio of 1.04, a quick ratio of 0.68 and a debt-to-equity ratio of 9.46. The business’s 50 day moving average is $98.10 and its 200-day moving average is $98.54. The stock has a market cap of $77.55 billion, a PE ratio of 27.20, a price-to-earnings-growth ratio of 3.36 and a beta of 0.42. Colgate-Palmolive has a twelve month low of $75.50 and a twelve month high of $109.30.

Colgate-Palmolive Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, November 15th. Shareholders of record on Friday, October 18th were given 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 dividend payout ratio (DPR) is presently 57.31%.

Insider Transactions at Colgate-Palmolive

In other 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 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 position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Company insiders own 0.34% of the company’s stock.

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.