Peapack Gladstone Financial Corp Purchases 1,203 Shares of Colgate-Palmolive (NYSE:CL)

Peapack Gladstone Financial Corp boosted its holdings in shares of Colgate-Palmolive (NYSE:CL) by 2.4% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 50,653 shares of the company’s stock after acquiring an additional 1,203 shares during the period. Peapack Gladstone Financial Corp’s holdings in Colgate-Palmolive were worth $5,258,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in CL. Envestnet Portfolio Solutions Inc. grew its stake in shares of Colgate-Palmolive by 10.5% during the 2nd quarter. Envestnet Portfolio Solutions Inc. now owns 26,788 shares of the company’s stock worth $2,599,000 after acquiring an additional 2,537 shares in the last quarter. Blue Trust Inc. boosted its holdings in shares of Colgate-Palmolive by 139.6% in the 2nd quarter. Blue Trust Inc. now owns 1,270 shares of the company’s stock worth $114,000 after buying an additional 740 shares during the last quarter. Gradient Investments LLC lifted its holdings in shares of Colgate-Palmolive by 150.4% in the second quarter. Gradient Investments LLC now owns 666 shares of the company’s stock worth $65,000 after buying an additional 400 shares in the last quarter. TCW Group Inc. boosted its holdings in Colgate-Palmolive by 0.9% in the 2nd quarter. TCW Group Inc. now owns 16,157 shares of the company’s stock valued at $1,568,000 after purchasing an additional 150 shares during the period. Finally, Raymond James & Associates boosted its stake in Colgate-Palmolive by 6.5% during the second quarter. Raymond James & Associates now owns 1,081,955 shares of the company’s stock valued at $104,993,000 after buying an additional 65,691 shares during the period. 80.41% of the stock is owned by institutional investors and hedge funds.

Colgate-Palmolive Stock Down 0.1 %

Shares of NYSE CL opened at $93.44 on Friday. Colgate-Palmolive has a 1 year low of $75.50 and a 1 year high of $109.30. The company has a debt-to-equity ratio of 9.46, a current ratio of 1.04 and a quick ratio of 0.68. The company has a market capitalization of $76.34 billion, a P/E ratio of 26.77, a P/E/G ratio of 3.31 and a beta of 0.43. The company has a 50 day simple moving average of $95.73 and a 200-day simple moving average of $98.58.

Colgate-Palmolive Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, February 14th. Investors of record on Tuesday, January 21st will be paid a dividend of $0.50 per share. The ex-dividend date of this dividend is Tuesday, January 21st. This represents a $2.00 annualized dividend and a yield of 2.14%. Colgate-Palmolive’s payout ratio is 57.31%.

Insider Buying and Selling

In other Colgate-Palmolive news, CFO Stanley J. Sutula III sold 45,410 shares of the company’s stock in a transaction that occurred 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 of the company’s stock, valued at $3,456,283.86. This represents a 55.29 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 0.34% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts have recently commented on the company. Piper Sandler assumed coverage on Colgate-Palmolive in a research report on Tuesday, September 24th. They set an “overweight” rating and a $121.00 price objective on the stock. TD Cowen reduced their price target on Colgate-Palmolive from $115.00 to $110.00 and set a “buy” rating on the stock in a report on Monday, October 28th. JPMorgan Chase & Co. upped their price objective on shares of Colgate-Palmolive from $113.00 to $114.00 and gave the stock an “overweight” rating in a report on Friday, October 11th. Deutsche Bank Aktiengesellschaft cut Colgate-Palmolive from a “buy” rating to a “hold” rating and raised their target price for the company from $107.00 to $109.00 in a research note on Monday, September 9th. Finally, Wells Fargo & Company cut their price objective on shares of Colgate-Palmolive from $100.00 to $92.00 and set an “underweight” rating on the stock in a report on Monday, October 28th. One analyst has rated the stock with a sell rating, nine have assigned a hold rating and thirteen have issued a buy rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $105.11.

Colgate-Palmolive 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.