Colgate-Palmolive (NYSE:CL) Shares Sold by Steph & Co.

Steph & Co. lowered its holdings in Colgate-Palmolive (NYSE:CL) by 7.8% in the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor owned 1,832 shares of the company’s stock after selling 154 shares during the period. Steph & Co.’s holdings in Colgate-Palmolive were worth $167,000 at the end of the most recent reporting period.

Several other large investors have also recently added to or reduced their stakes in CL. State Street Corp increased its stake in shares of Colgate-Palmolive by 3.8% during the third quarter. State Street Corp now owns 48,436,276 shares of the company’s stock worth $5,028,170,000 after buying an additional 1,784,411 shares during the period. Geode Capital Management LLC increased its position in shares of Colgate-Palmolive by 2.8% in the 3rd quarter. Geode Capital Management LLC now owns 20,193,331 shares of the company’s stock valued at $2,095,325,000 after purchasing an additional 552,949 shares during the last quarter. Massachusetts Financial Services Co. MA raised its holdings in shares of Colgate-Palmolive by 6.2% in the 3rd quarter. Massachusetts Financial Services Co. MA now owns 9,526,990 shares of the company’s stock valued at $988,997,000 after purchasing an additional 557,492 shares in the last quarter. Legal & General Group Plc lifted its position in shares of Colgate-Palmolive by 0.8% during the 2nd quarter. Legal & General Group Plc now owns 7,785,101 shares of the company’s stock worth $755,465,000 after purchasing an additional 61,413 shares during the last quarter. Finally, Barclays PLC grew its stake in shares of Colgate-Palmolive by 38.7% during the third quarter. Barclays PLC now owns 7,644,189 shares of the company’s stock worth $793,542,000 after purchasing an additional 2,132,747 shares in the last quarter. 80.41% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of analysts have weighed in on CL shares. JPMorgan Chase & Co. cut their price target on Colgate-Palmolive from $109.00 to $103.00 and set an “overweight” rating on the stock in a research note on Thursday. StockNews.com cut Colgate-Palmolive from a “buy” rating to a “hold” rating in a research note on Thursday, January 9th. Wells Fargo & Company dropped their price target on shares of Colgate-Palmolive from $92.00 to $83.00 and set an “underweight” rating on the stock in a research note on Tuesday, January 7th. Piper Sandler reduced their price objective on shares of Colgate-Palmolive from $121.00 to $112.00 and set an “overweight” rating for the company in a research report on Monday, January 6th. Finally, TD Cowen dropped their target price on shares of Colgate-Palmolive from $110.00 to $100.00 and set a “buy” rating on the stock in a research report on Wednesday, January 8th. One investment analyst has rated the stock with a sell rating, ten have given a hold rating and twelve have given a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $103.05.

Colgate-Palmolive Stock Performance

Shares of CL stock opened at $87.90 on Thursday. The company has a current ratio of 1.04, a quick ratio of 0.68 and a debt-to-equity ratio of 9.46. Colgate-Palmolive has a 12-month low of $79.69 and a 12-month high of $109.30. The company has a market cap of $71.82 billion, a price-to-earnings ratio of 25.19, a price-to-earnings-growth ratio of 3.01 and a beta of 0.44. The stock has a 50 day simple moving average of $92.36 and a 200-day simple moving average of $97.92.

Colgate-Palmolive Announces Dividend

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

Insider Activity

In related news, CFO Stanley J. Sutula III sold 45,410 shares of the firm’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 value of $4,273,535.10. Following the completion of the transaction, the chief financial officer now directly owns 36,726 shares of the company’s stock, valued at $3,456,283.86. This trade represents a 55.29 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Insiders own 0.37% of the company’s stock.

About Colgate-Palmolive

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.