Waverton Investment Management Ltd Has $2.87 Million Stake in Colgate-Palmolive (CL)
Waverton Investment Management Ltd lowered its position in Colgate-Palmolive (NYSE:CL) by 11.2% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 48,254 shares of the company’s stock after selling 6,080 shares during the period. Waverton Investment Management Ltd’s holdings in Colgate-Palmolive were worth $2,872,000 as of its most recent SEC filing.
Several other institutional investors have also recently modified their holdings of the company. Moody National Bank Trust Division purchased a new stake in Colgate-Palmolive during the 4th quarter worth approximately $94,000. Price Capital Management Inc. purchased a new stake in Colgate-Palmolive during the 3rd quarter worth approximately $121,000. O Brien Wealth Partners LLC purchased a new stake in Colgate-Palmolive during the 3rd quarter worth approximately $123,000. IMS Capital Management grew its position in Colgate-Palmolive by 631.6% during the 3rd quarter. IMS Capital Management now owns 2,085 shares of the company’s stock worth $140,000 after purchasing an additional 1,800 shares during the last quarter. Finally, SRS Capital Advisors Inc. grew its position in Colgate-Palmolive by 61.1% during the 3rd quarter. SRS Capital Advisors Inc. now owns 2,475 shares of the company’s stock worth $166,000 after purchasing an additional 939 shares during the last quarter. 74.54% of the stock is currently owned by hedge funds and other institutional investors.
NYSE CL traded down $0.22 on Monday, hitting $61.88. 537,916 shares of the company’s stock traded hands, compared to its average volume of 4,859,508. Colgate-Palmolive has a 1-year low of $57.41 and a 1-year high of $77.91. The stock has a market cap of $53.17 billion, a price-to-earnings ratio of 21.56, a PEG ratio of 2.94 and a beta of 0.75.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, February 15th. Shareholders of record on Wednesday, January 23rd will be paid a dividend of $0.42 per share. This represents a $1.68 annualized dividend and a yield of 2.71%. The ex-dividend date is Tuesday, January 22nd. Colgate-Palmolive’s payout ratio is 58.54%.
Several analysts have weighed in on CL shares. Zacks Investment Research downgraded shares of Colgate-Palmolive from a “hold” rating to a “sell” rating in a research report on Monday, October 29th. Argus reissued a “buy” rating and set a $75.00 target price (up previously from $72.00) on shares of Colgate-Palmolive in a research report on Tuesday, September 18th. Citigroup dropped their target price on shares of Colgate-Palmolive from $68.00 to $63.00 and set a “hold” rating on the stock in a research report on Monday, October 29th. Wells Fargo & Co dropped their target price on shares of Colgate-Palmolive from $62.00 to $58.00 and set a “market perform” rating on the stock in a research report on Monday, October 29th. Finally, SunTrust Banks downgraded shares of Colgate-Palmolive from a “buy” rating to a “hold” rating and dropped their target price for the stock from $80.00 to $65.00 in a research report on Friday, October 26th. Two equities research analysts have rated the stock with a sell rating, twelve have assigned a hold rating and four have issued a buy rating to the stock. The stock currently has an average rating of “Hold” and an average target price of $67.87.
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Colgate-Palmolive Company, together with its subsidiaries, manufactures and sells consumer products worldwide. It operates through two segments, Oral, Personal and Home Care; and Pet Nutrition. The company offers oral care products, including toothpastes, toothbrushes, and mouthwashes, as well as pharmaceutical products for dentists and other oral health professionals; personal care products comprising bar and liquid hand soaps, shower gels, shampoos, conditioners, and deodorants and antiperspirants; and home care products, such as laundry and dishwashing detergents, fabric conditioners, household cleaners, and other related products.
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