Curi RMB Capital LLC Reduces Stake in Colgate-Palmolive (NYSE:CL)

Curi RMB Capital LLC lowered its holdings in Colgate-Palmolive (NYSE:CL) by 65.7% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 1,959 shares of the company’s stock after selling 3,746 shares during the quarter. Curi RMB Capital LLC’s holdings in Colgate-Palmolive were worth $203,000 as of its most recent SEC filing.

Several other hedge funds also recently added to or reduced their stakes in the business. Price T Rowe Associates Inc. MD lifted its holdings in Colgate-Palmolive by 27.8% in the first quarter. Price T Rowe Associates Inc. MD now owns 41,067,130 shares of the company’s stock valued at $3,698,096,000 after acquiring an additional 8,933,912 shares during the period. Massachusetts Financial Services Co. MA increased its stake in shares of Colgate-Palmolive by 40.7% in the 2nd quarter. Massachusetts Financial Services Co. MA now owns 8,969,498 shares of the company’s stock valued at $870,400,000 after purchasing an additional 2,593,313 shares in the last quarter. Legal & General Group Plc raised its holdings in Colgate-Palmolive by 0.8% in the 2nd quarter. Legal & General Group Plc now owns 7,785,101 shares of the company’s stock worth $755,465,000 after purchasing an additional 61,413 shares during the period. GUARDCAP ASSET MANAGEMENT Ltd boosted its position in Colgate-Palmolive by 4.1% during the first quarter. GUARDCAP ASSET MANAGEMENT Ltd now owns 6,987,454 shares of the company’s stock worth $629,220,000 after purchasing an additional 278,150 shares in the last quarter. Finally, Acadian Asset Management LLC grew its holdings in Colgate-Palmolive by 108.4% in the second quarter. Acadian Asset Management LLC now owns 5,682,280 shares of the company’s stock valued at $551,367,000 after purchasing an additional 2,955,442 shares during the period. 80.41% of the stock is owned by hedge funds and other institutional investors.

Colgate-Palmolive Trading Up 2.3 %

Shares of CL opened at $93.56 on Friday. The firm has a 50-day moving average price of $99.31 and a 200 day moving average price of $98.45. Colgate-Palmolive has a 12-month low of $75.17 and a 12-month high of $109.30. 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 firm has a market capitalization of $76.44 billion, a P/E ratio of 26.81, a P/E/G ratio of 3.25 and a beta of 0.42.

Colgate-Palmolive Dividend Announcement

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

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on the company. StockNews.com raised Colgate-Palmolive from a “hold” rating to a “buy” rating in a research note on Thursday. Stifel Nicolaus cut shares of Colgate-Palmolive from a “buy” rating to a “hold” rating and reduced their price objective for the stock from $105.00 to $101.00 in a research report on Monday, October 28th. TD Cowen decreased their price objective on shares of Colgate-Palmolive from $115.00 to $110.00 and set a “buy” rating on the stock in a report on Monday, October 28th. Deutsche Bank Aktiengesellschaft cut shares of Colgate-Palmolive from a “buy” rating to a “hold” rating and boosted their target price for the stock from $107.00 to $109.00 in a research note on Monday, September 9th. Finally, UBS Group raised their price target on shares of Colgate-Palmolive from $119.00 to $122.00 and gave the company a “buy” rating in a research note on Wednesday, September 4th. One research analyst has rated the stock with a sell rating, nine have issued a hold rating and thirteen have issued a buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $105.11.

Insider Buying and Selling

In other news, CFO Stanley J. Sutula III sold 45,410 shares of the company’s stock in a transaction on Tuesday, November 5th. The stock was sold at an average price of $94.11, for a total transaction of $4,273,535.10. Following the sale, the chief financial officer now 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 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 value of $240,228.18. Following the transaction, the director now directly owns 11,755 shares of the company’s stock, 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. Corporate insiders own 0.34% of the company’s stock.

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.