OVERSEA CHINESE BANKING Corp Ltd Decreases Stake in Colgate-Palmolive (NYSE:CL)

OVERSEA CHINESE BANKING Corp Ltd reduced its position in Colgate-Palmolive (NYSE:CL) by 13.3% during the third quarter, Holdings Channel.com reports. The institutional investor owned 130,240 shares of the company’s stock after selling 20,047 shares during the period. OVERSEA CHINESE BANKING Corp Ltd’s holdings in Colgate-Palmolive were worth $13,518,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. E Fund Management Hong Kong Co. Ltd. purchased a new stake in Colgate-Palmolive during the second quarter valued at approximately $25,000. Continuum Advisory LLC raised its position in Colgate-Palmolive by 46.5% during the second quarter. Continuum Advisory LLC now owns 394 shares of the company’s stock valued at $38,000 after purchasing an additional 125 shares during the period. Reston Wealth Management LLC purchased a new stake in Colgate-Palmolive during the third quarter valued at approximately $42,000. Capital Performance Advisors LLP purchased a new stake in Colgate-Palmolive during the third quarter valued at approximately $53,000. Finally, Gradient Investments LLC raised its position in Colgate-Palmolive by 150.4% during the second quarter. Gradient Investments LLC now owns 666 shares of the company’s stock valued at $65,000 after purchasing an additional 400 shares during the period. 80.41% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at Colgate-Palmolive

In related news, CFO Stanley J. Sutula III sold 45,410 shares of the firm’s stock in a transaction 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 completion of the transaction, the chief financial officer now owns 36,726 shares in the company, valued at $3,456,283.86. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. In other Colgate-Palmolive news, CFO Stanley J. Sutula III sold 45,410 shares of Colgate-Palmolive stock in a transaction dated 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 transaction, the chief financial officer now owns 36,726 shares in the company, valued at approximately $3,456,283.86. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Martina Hundmejean sold 2,313 shares of Colgate-Palmolive stock in a transaction dated Friday, August 23rd. The shares were sold at an average price of $103.86, for a total value of $240,228.18. Following the transaction, the director now owns 11,755 shares of the company’s stock, valued at $1,220,874.30. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders own 0.34% of the company’s stock.

Colgate-Palmolive Stock Down 0.6 %

Shares of NYSE CL opened at $92.00 on Tuesday. The company has a current ratio of 1.04, a quick ratio of 0.68 and a debt-to-equity ratio of 9.46. The stock has a market capitalization of $75.17 billion, a PE ratio of 26.36, a price-to-earnings-growth ratio of 3.31 and a beta of 0.42. Colgate-Palmolive has a 12-month low of $75.17 and a 12-month high of $109.30. The stock’s fifty day simple moving average is $100.62 and its two-hundred day simple moving average is $98.52.

Colgate-Palmolive Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, November 15th. Stockholders of record on Friday, October 18th will be given a $0.50 dividend. The ex-dividend date is Friday, October 18th. This represents a $2.00 dividend on an annualized basis and a dividend yield of 2.17%. Colgate-Palmolive’s payout ratio is 57.31%.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on CL. Morgan Stanley upped their price objective on Colgate-Palmolive from $103.00 to $111.00 and gave the company an “overweight” rating in a research report on Monday, July 29th. Barclays increased their price target on Colgate-Palmolive from $91.00 to $96.00 and gave the stock an “equal weight” rating in a report on Monday, July 29th. Redburn Atlantic upgraded Colgate-Palmolive to a “hold” rating in a report on Thursday, August 1st. UBS Group increased their price target on Colgate-Palmolive from $119.00 to $122.00 and gave the stock a “buy” rating in a report on Wednesday, September 4th. Finally, Piper Sandler started coverage on Colgate-Palmolive in a report on Tuesday, September 24th. They issued an “overweight” rating and a $121.00 price target on the stock. One analyst has rated the stock with a sell rating, nine have issued a hold rating and thirteen have issued a buy rating to the stock. According to MarketBeat.com, the stock has a consensus 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.