Smith Chas P & Associates PA Cpas Sells 3,352 Shares of Colgate-Palmolive (NYSE:CL)

Smith Chas P & Associates PA Cpas decreased its holdings in Colgate-Palmolive (NYSE:CL) by 18.1% during the 4th quarter, Holdings Channel.com reports. The fund owned 15,151 shares of the company’s stock after selling 3,352 shares during the quarter. Smith Chas P & Associates PA Cpas’ holdings in Colgate-Palmolive were worth $1,377,000 as of its most recent SEC filing.

Other hedge funds have also added to or reduced their stakes in the company. Reston Wealth Management LLC purchased a new stake in shares of Colgate-Palmolive during the third quarter valued at approximately $42,000. Capital Performance Advisors LLP purchased a new stake in shares of Colgate-Palmolive during the 3rd quarter valued at $53,000. Prospera Private Wealth LLC purchased a new position in shares of Colgate-Palmolive in the 3rd quarter worth about $64,000. True Wealth Design LLC grew its position in Colgate-Palmolive by 1,460.9% during the third quarter. True Wealth Design LLC now owns 718 shares of the company’s stock valued at $75,000 after buying an additional 672 shares during the period. Finally, Continuum Advisory LLC raised its position in Colgate-Palmolive by 93.4% in the third quarter. Continuum Advisory LLC now owns 762 shares of the company’s stock worth $79,000 after acquiring an additional 368 shares during the period. Institutional investors and hedge funds own 80.41% of the company’s stock.

Analysts Set New Price Targets

A number of research firms have recently weighed in on CL. JPMorgan Chase & Co. reduced their target price on shares of Colgate-Palmolive from $109.00 to $103.00 and set an “overweight” rating for the company in a research report on Thursday, January 16th. Piper Sandler decreased their target price on Colgate-Palmolive from $121.00 to $112.00 and set an “overweight” rating for the company in a research report on Monday, January 6th. UBS Group dropped their price target on Colgate-Palmolive from $112.00 to $104.00 and set a “buy” rating on the stock in a research report on Thursday, January 16th. Barclays decreased their price objective on Colgate-Palmolive from $96.00 to $83.00 and set an “equal weight” rating for the company in a report on Friday, January 17th. Finally, StockNews.com lowered shares of Colgate-Palmolive from a “buy” rating to a “hold” rating in a research report on Thursday, January 9th. One analyst has rated the stock with a sell rating, ten have issued a hold rating and twelve have assigned a buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $101.11.

Colgate-Palmolive Price Performance

Shares of NYSE CL opened at $87.88 on Friday. The firm has a market capitalization of $71.79 billion, a P/E ratio of 25.18, a P/E/G ratio of 3.59 and a beta of 0.44. 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 stock’s 50-day simple moving average is $91.81 and its two-hundred day simple moving average is $97.44. Colgate-Palmolive has a twelve month low of $80.03 and a twelve month high of $109.30.

Colgate-Palmolive Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, February 14th. Shareholders of record on Tuesday, January 21st will be paid a $0.50 dividend. The ex-dividend date is Tuesday, January 21st. This represents a $2.00 dividend on an annualized basis and a yield of 2.28%. Colgate-Palmolive’s dividend payout ratio is presently 57.31%.

Insider Activity

In related news, CFO Stanley J. Sutula III sold 45,410 shares of the company’s stock in a transaction on Tuesday, November 5th. The shares were sold at an average price of $94.11, for a total value of $4,273,535.10. Following the completion of the transaction, the chief financial officer now directly owns 36,726 shares in the company, valued at approximately $3,456,283.86. The trade was a 55.29 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate 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.