Tower Bridge Advisors Has $2.71 Million Holdings in Colgate-Palmolive (NYSE:CL)

Tower Bridge Advisors lifted its holdings in shares of Colgate-Palmolive (NYSE:CL) by 1.2% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 26,137 shares of the company’s stock after buying an additional 314 shares during the quarter. Tower Bridge Advisors’ holdings in Colgate-Palmolive were worth $2,713,000 at the end of the most recent quarter.

Several other institutional investors also recently modified their holdings of CL. Dorsey & Whitney Trust CO LLC grew its position in shares of Colgate-Palmolive by 32.8% during the 1st quarter. Dorsey & Whitney Trust CO LLC now owns 3,635 shares of the company’s stock worth $327,000 after buying an additional 898 shares during the period. M&G Plc acquired a new stake in shares of Colgate-Palmolive during the 1st quarter worth approximately $3,812,000. First Foundation Advisors grew its position in shares of Colgate-Palmolive by 37.9% during the 1st quarter. First Foundation Advisors now owns 1,626 shares of the company’s stock worth $146,000 after buying an additional 447 shares during the period. Allstate Corp acquired a new stake in shares of Colgate-Palmolive during the 1st quarter worth approximately $212,000. Finally, Edgestream Partners L.P. acquired a new stake in shares of Colgate-Palmolive during the 1st quarter worth approximately $1,571,000. Institutional investors and hedge funds own 80.41% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts have recently commented on CL shares. Deutsche Bank Aktiengesellschaft cut shares of Colgate-Palmolive from a “buy” rating to a “hold” rating and lifted their price target for the stock from $107.00 to $109.00 in a research report on Monday, September 9th. Piper Sandler initiated coverage on shares of Colgate-Palmolive in a research note on Tuesday, September 24th. They set an “overweight” rating and a $121.00 price objective on the stock. Morgan Stanley lifted 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. JPMorgan Chase & Co. lifted their price objective on shares of Colgate-Palmolive from $113.00 to $114.00 and gave the stock an “overweight” rating in a research note on Friday, October 11th. Finally, TD Cowen reduced their price objective on shares of Colgate-Palmolive from $115.00 to $110.00 and set a “buy” rating on the stock in a research note on Monday, October 28th. One research analyst has rated the stock with a sell rating, nine have assigned a hold rating and thirteen have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $105.11.

Insider Transactions at Colgate-Palmolive

In other news, Director Martina Hundmejean sold 2,313 shares of the business’s stock in a transaction on Friday, August 23rd. The shares were sold at an average price of $103.86, for a total value of $240,228.18. Following the sale, the director now 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 sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CFO Stanley J. Sutula III sold 45,410 shares of the business’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 completion of the sale, 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 position. The disclosure for this sale can be found here. 0.34% of the stock is currently owned by insiders.

Colgate-Palmolive Stock Performance

Shares of CL stock opened at $93.56 on Friday. The company’s fifty day simple moving average is $99.31 and its 200-day simple moving average is $98.49. 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 $76.44 billion, a PE ratio of 26.81, a P/E/G ratio of 3.34 and a beta of 0.42. Colgate-Palmolive has a 12 month low of $75.17 and a 12 month high of $109.30.

Colgate-Palmolive Dividend Announcement

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

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.