Somerset Trust Co Purchases 863 Shares of Colgate-Palmolive (NYSE:CL)

Somerset Trust Co lifted its holdings in Colgate-Palmolive (NYSE:CL) by 3.6% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 24,859 shares of the company’s stock after acquiring an additional 863 shares during the period. Somerset Trust Co’s holdings in Colgate-Palmolive were worth $2,260,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. Envestnet Asset Management Inc. lifted its position in shares of Colgate-Palmolive by 16.2% during the 2nd quarter. Envestnet Asset Management Inc. now owns 459,445 shares of the company’s stock valued at $44,585,000 after acquiring an additional 64,123 shares during the period. Edgestream Partners L.P. raised its holdings in shares of Colgate-Palmolive by 13.9% during the second quarter. Edgestream Partners L.P. now owns 19,864 shares of the company’s stock valued at $1,928,000 after purchasing an additional 2,423 shares during the period. Mercer Global Advisors Inc. ADV boosted its position in shares of Colgate-Palmolive by 2.0% during the 2nd quarter. Mercer Global Advisors Inc. ADV now owns 126,759 shares of the company’s stock worth $12,301,000 after purchasing an additional 2,541 shares in the last quarter. XTX Topco Ltd acquired a new stake in shares of Colgate-Palmolive in the 2nd quarter valued at about $423,000. Finally, Brighton Jones LLC increased its position in Colgate-Palmolive by 49.4% in the 2nd quarter. Brighton Jones LLC now owns 10,308 shares of the company’s stock valued at $1,000,000 after buying an additional 3,410 shares in the last quarter. 80.41% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Colgate-Palmolive

In other Colgate-Palmolive news, CFO Stanley J. Sutula III sold 45,410 shares of the company’s stock in a transaction dated Tuesday, November 5th. The shares were sold at an average price of $94.11, for a total transaction of $4,273,535.10. Following 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 ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 0.37% of the stock is owned by corporate insiders.

Colgate-Palmolive Stock Performance

Shares of CL stock opened at $88.79 on Friday. The company has a debt-to-equity ratio of 9.46, a quick ratio of 0.68 and a current ratio of 1.04. The firm has a market cap of $72.55 billion, a price-to-earnings ratio of 25.44, a P/E/G ratio of 3.01 and a beta of 0.44. Colgate-Palmolive has a 52 week low of $79.69 and a 52 week high of $109.30. The firm’s 50-day simple moving average is $92.27 and its two-hundred day simple moving average is $97.78.

Colgate-Palmolive Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, February 14th. Investors of record on Tuesday, January 21st will be paid a $0.50 dividend. The ex-dividend date of this dividend is Tuesday, January 21st. This represents a $2.00 annualized dividend and a yield of 2.25%. Colgate-Palmolive’s payout ratio is 57.31%.

Wall Street Analyst Weigh In

A number of equities research analysts have commented on CL shares. Barclays reduced their price objective on Colgate-Palmolive from $96.00 to $83.00 and set an “equal weight” rating for the company in a research note on Friday. UBS Group decreased their price target on shares of Colgate-Palmolive from $112.00 to $104.00 and set a “buy” rating for the company in a research note on Thursday. Piper Sandler dropped their price objective on shares of Colgate-Palmolive from $121.00 to $112.00 and set an “overweight” rating on the stock in a research note on Monday, January 6th. StockNews.com downgraded shares of Colgate-Palmolive from a “buy” rating to a “hold” rating in a research report on Thursday, January 9th. Finally, JPMorgan Chase & Co. cut their price target on Colgate-Palmolive from $109.00 to $103.00 and set an “overweight” rating for the company in a research note on Thursday. One investment analyst has rated the stock with a sell rating, ten have given a hold rating and twelve have assigned a buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $101.11.

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.