Colgate-Palmolive (NYSE:CL) Shares Sold by Chevy Chase Trust Holdings LLC

Chevy Chase Trust Holdings LLC trimmed its holdings in shares of Colgate-Palmolive (NYSE:CL) by 2.3% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 445,570 shares of the company’s stock after selling 10,431 shares during the quarter. Chevy Chase Trust Holdings LLC’s holdings in Colgate-Palmolive were worth $46,255,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in the business. E Fund Management Hong Kong Co. Ltd. acquired a new position in Colgate-Palmolive during the second quarter worth $25,000. Continuum Advisory LLC raised its position in shares of Colgate-Palmolive by 46.5% during the 2nd quarter. Continuum Advisory LLC now owns 394 shares of the company’s stock worth $38,000 after purchasing an additional 125 shares during the last quarter. Reston Wealth Management LLC purchased a new position in Colgate-Palmolive in the 3rd quarter valued at about $42,000. Capital Performance Advisors LLP purchased a new stake in Colgate-Palmolive during the 3rd quarter worth approximately $53,000. Finally, Prospera Private Wealth LLC acquired a new position in shares of Colgate-Palmolive during the third quarter valued at approximately $64,000. Hedge funds and other institutional investors own 80.41% of the company’s stock.

Analysts Set New Price Targets

CL has been the subject of several research reports. TD Cowen dropped their price target on Colgate-Palmolive from $115.00 to $110.00 and set a “buy” rating for the company in a research report on Monday, October 28th. StockNews.com upgraded shares of Colgate-Palmolive from a “hold” rating to a “buy” rating in a research report on Monday, November 25th. Piper Sandler started coverage on shares of Colgate-Palmolive in a research report on Tuesday, September 24th. They set an “overweight” rating and a $121.00 price target on the stock. JPMorgan Chase & Co. increased their price objective on shares of Colgate-Palmolive from $113.00 to $114.00 and gave the company an “overweight” rating in a report on Friday, October 11th. Finally, UBS Group upped their price target on Colgate-Palmolive from $119.00 to $122.00 and gave the company a “buy” rating in a research report on Wednesday, September 4th. One investment analyst has rated the stock with a sell rating, nine have given a hold rating and thirteen have given a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $105.11.

Colgate-Palmolive Stock Performance

Shares of Colgate-Palmolive stock opened at $97.10 on Tuesday. The business has a 50-day simple moving average of $97.38 and a 200-day simple moving average of $98.64. The company has a debt-to-equity ratio of 9.46, a quick ratio of 0.68 and a current ratio of 1.04. Colgate-Palmolive has a one year low of $75.50 and a one year high of $109.30. The company has a market cap of $79.33 billion, a PE ratio of 27.82, a P/E/G ratio of 3.45 and a beta of 0.42.

Colgate-Palmolive Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, November 15th. Stockholders of record on Friday, October 18th were issued a $0.50 dividend. The ex-dividend date of this dividend was Friday, October 18th. This represents a $2.00 dividend on an annualized basis and a dividend yield of 2.06%. Colgate-Palmolive’s payout ratio is 57.31%.

Insider Transactions at Colgate-Palmolive

In related news, CFO Stanley J. Sutula III sold 45,410 shares of the business’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 owns 36,726 shares in the company, valued at $3,456,283.86. The trade was a 55.29 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 0.34% of the company’s stock.

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.