Renaissance Technologies LLC decreased its position in Colgate-Palmolive (NYSE:CL) by 10.4% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 8,601,900 shares of the company’s stock after selling 1,002,200 shares during the period. Colgate-Palmolive makes up 0.7% of Renaissance Technologies LLC’s portfolio, making the stock its 8th largest position. Renaissance Technologies LLC owned approximately 0.98% of Colgate-Palmolive worth $649,013,000 at the end of the most recent quarter.
Several other hedge funds have also recently made changes to their positions in the company. Jacobi Capital Management LLC lifted its position in Colgate-Palmolive by 125.5% in the 3rd quarter. Jacobi Capital Management LLC now owns 1,443 shares of the company’s stock valued at $104,000 after acquiring an additional 803 shares in the last quarter. Krilogy Financial LLC lifted its position in Colgate-Palmolive by 23.0% during the 2nd quarter. Krilogy Financial LLC now owns 1,547 shares of the company’s stock worth $115,000 after buying an additional 289 shares in the last quarter. Calton & Associates Inc. bought a new stake in Colgate-Palmolive during the 4th quarter worth about $126,000. Captrust Financial Advisors bought a new stake in shares of Colgate-Palmolive in the 2nd quarter valued at about $122,000. Finally, Bruderman Asset Management LLC bought a new stake in shares of Colgate-Palmolive in the 2nd quarter valued at about $126,000. 73.87% of the stock is owned by institutional investors.
Colgate-Palmolive (NYSE CL) traded down $0.88 during trading hours on Wednesday, reaching $69.99. 4,160,752 shares of the company’s stock were exchanged, compared to its average volume of 4,048,186. The firm has a market capitalization of $61,260.00, a PE ratio of 27.02, a price-to-earnings-growth ratio of 2.63 and a beta of 0.79. Colgate-Palmolive has a 1-year low of $68.19 and a 1-year high of $77.91. The company has a debt-to-equity ratio of 27.02, a current ratio of 1.36 and a quick ratio of 1.00.
The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, May 15th. Shareholders of record on Friday, April 20th will be given a $0.42 dividend. This is a positive change from Colgate-Palmolive’s previous quarterly dividend of $0.40. The ex-dividend date of this dividend is Thursday, April 19th. This represents a $1.68 annualized dividend and a yield of 2.40%. Colgate-Palmolive’s payout ratio is currently 61.78%.
In other news, insider Jennifer Daniels sold 902 shares of the business’s stock in a transaction that occurred on Tuesday, January 9th. The shares were sold at an average price of $75.82, for a total value of $68,389.64. Following the sale, the insider now owns 37,788 shares of the company’s stock, valued at $2,865,086.16. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, SVP John J. Huston sold 14,000 shares of the business’s stock in a transaction that occurred on Friday, February 9th. The shares were sold at an average price of $69.44, for a total transaction of $972,160.00. Following the transaction, the senior vice president now directly owns 100,508 shares of the company’s stock, valued at approximately $6,979,275.52. The disclosure for this sale can be found here. In the last ninety days, insiders sold 455,707 shares of company stock worth $32,443,427. Insiders own 1.02% of the company’s stock.
A number of brokerages have recently issued reports on CL. Zacks Investment Research raised shares of Colgate-Palmolive from a “hold” rating to a “buy” rating and set a $84.00 target price on the stock in a report on Monday, January 8th. Macquarie upgraded shares of Colgate-Palmolive from a “neutral” rating to an “outperform” rating and set a $81.00 price target on the stock in a research note on Tuesday, December 19th. BNP Paribas lowered shares of Colgate-Palmolive from an “outperform” rating to an “underperform” rating in a research report on Tuesday, January 30th. Citigroup increased their target price on shares of Colgate-Palmolive from $75.00 to $80.00 and gave the stock a “neutral” rating in a research report on Tuesday, January 30th. Finally, Deutsche Bank initiated coverage on shares of Colgate-Palmolive in a research report on Wednesday, December 13th. They set a “hold” rating and a $75.00 price target on the stock. Three research analysts have rated the stock with a sell rating, ten have issued a hold rating and five have issued a buy rating to the company. Colgate-Palmolive has an average rating of “Hold” and an average target price of $77.91.
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Colgate-Palmolive Company Profile
Colgate-Palmolive Company (Colgate) is a consumer products company. The Company operates in two product segments: Oral, Personal and Home Care, and Pet Nutrition. The Oral, Personal and Home Care product segment is operated through five geographic segments, which include North America, Latin America, Europe, Asia Pacific and Africa/Eurasia.
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