Squire Investment Management Company LLC Decreases Stake in Colgate-Palmolive (NYSE:CL)

Squire Investment Management Company LLC decreased its holdings in Colgate-Palmolive (NYSE:CL) by 67.1% in the third quarter, Holdings Channel reports. The fund owned 2,670 shares of the company’s stock after selling 5,440 shares during the period. Squire Investment Management Company LLC’s holdings in Colgate-Palmolive were worth $277,000 at the end of the most recent reporting period.

A number of other institutional investors have also bought and sold shares of the business. M&G Plc purchased a new stake in shares of Colgate-Palmolive during the 1st quarter valued at approximately $3,812,000. Gordian Advisors LLC acquired a new position in shares of Colgate-Palmolive in the 3rd quarter valued at $602,000. Vontobel Holding Ltd. grew its holdings in shares of Colgate-Palmolive by 224.6% during the 3rd quarter. Vontobel Holding Ltd. now owns 795,938 shares of the company’s stock worth $82,626,000 after purchasing an additional 550,750 shares during the period. PGGM Investments raised its holdings in Colgate-Palmolive by 171.8% in the 2nd quarter. PGGM Investments now owns 157,608 shares of the company’s stock valued at $15,294,000 after buying an additional 99,624 shares during the period. Finally, QRG Capital Management Inc. lifted its position in Colgate-Palmolive by 11.2% in the second quarter. QRG Capital Management Inc. now owns 57,275 shares of the company’s stock valued at $5,558,000 after buying an additional 5,751 shares during the last quarter. 80.41% of the stock is owned by hedge funds and other institutional investors.

Colgate-Palmolive Price Performance

Shares of NYSE:CL opened at $93.58 on Friday. The company has a debt-to-equity ratio of 9.46, a current ratio of 1.04 and a quick ratio of 0.68. Colgate-Palmolive has a 12 month low of $75.17 and a 12 month high of $109.30. The firm has a market capitalization of $76.46 billion, a P/E ratio of 26.81, a P/E/G ratio of 3.25 and a beta of 0.42. The company’s fifty day moving average price is $99.31 and its 200 day moving average price is $98.45.

Colgate-Palmolive Announces Dividend

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

Analyst Upgrades and Downgrades

A number of equities research analysts have recently issued reports on CL shares. Hsbc Global Res downgraded shares of Colgate-Palmolive from a “strong-buy” rating to a “hold” rating in a research note on Friday, July 26th. Stifel Nicolaus downgraded Colgate-Palmolive from a “buy” rating to a “hold” rating and dropped their target price for the company from $105.00 to $101.00 in a research report on Monday, October 28th. Morgan Stanley increased their price target on shares of Colgate-Palmolive from $103.00 to $111.00 and gave the stock an “overweight” rating in a research report on Monday, July 29th. Redburn Atlantic raised shares of Colgate-Palmolive to a “hold” rating in a research note on Thursday, August 1st. Finally, Jefferies Financial Group cut shares of Colgate-Palmolive from a “buy” rating to a “hold” rating and decreased their price target for the company from $103.00 to $95.00 in a research report on Wednesday, July 24th. One investment analyst has rated the stock with a sell rating, nine have assigned a hold rating and thirteen have assigned a buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $105.11.

Insider Activity at Colgate-Palmolive

In other Colgate-Palmolive news, Director Martina Hundmejean sold 2,313 shares of the 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 sale, the director now directly owns 11,755 shares of the company’s stock, valued at approximately $1,220,874.30. This trade represents a 16.44 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Stanley J. Sutula III sold 45,410 shares of the stock in a transaction that occurred 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 transaction, the chief financial officer now directly owns 36,726 shares of the company’s stock, valued at approximately $3,456,283.86. This trade represents a 55.29 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 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.