Chemung Canal Trust Co. Sells 17,589 Shares of Colgate-Palmolive (NYSE:CL)

Chemung Canal Trust Co. trimmed its position in shares of Colgate-Palmolive (NYSE:CL) by 35.0% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 32,656 shares of the company’s stock after selling 17,589 shares during the period. Chemung Canal Trust Co.’s holdings in Colgate-Palmolive were worth $2,969,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Evergreen Capital Management LLC lifted its stake in shares of Colgate-Palmolive by 4.2% in the second quarter. Evergreen Capital Management LLC now owns 3,490 shares of the company’s stock valued at $339,000 after buying an additional 141 shares during the period. APG Asset Management N.V. lifted its position in shares of Colgate-Palmolive by 64.3% in the 2nd quarter. APG Asset Management N.V. now owns 1,251,422 shares of the company’s stock worth $113,308,000 after acquiring an additional 489,977 shares during the period. Daymark Wealth Partners LLC lifted its position in Colgate-Palmolive by 8.6% in the second quarter. Daymark Wealth Partners LLC now owns 24,553 shares of the company’s stock worth $2,383,000 after purchasing an additional 1,945 shares during the period. MBB Public Markets I LLC increased its holdings in Colgate-Palmolive by 1,530.9% in the 2nd quarter. MBB Public Markets I LLC now owns 56,414 shares of the company’s stock valued at $5,474,000 after buying an additional 52,955 shares during the period. Finally, The Manufacturers Life Insurance Company raised its holdings in shares of Colgate-Palmolive by 6.1% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 697,209 shares of the company’s stock worth $67,657,000 after buying an additional 39,838 shares in the last quarter. 80.41% of the stock is owned by institutional investors and hedge funds.

Colgate-Palmolive Stock Performance

Shares of Colgate-Palmolive stock opened at $87.88 on Friday. The firm has a market capitalization of $71.79 billion, a P/E ratio of 25.18, a price-to-earnings-growth ratio of 3.59 and a beta of 0.44. Colgate-Palmolive has a 12 month low of $80.03 and a 12 month high of $109.30. 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 business’s fifty day simple moving average is $91.93 and its 200 day simple moving average is $97.51.

Colgate-Palmolive Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, February 14th. Stockholders of record on Tuesday, January 21st will be given a $0.50 dividend. 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 currently 57.31%.

Insider Buying and Selling

In other news, CFO Stanley J. Sutula III sold 45,410 shares of Colgate-Palmolive stock in a transaction on 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 completion of the sale, the chief financial officer now directly owns 36,726 shares of the company’s stock, valued at approximately $3,456,283.86. The trade was a 55.29 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. 0.34% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

Several research analysts have issued reports on CL shares. JPMorgan Chase & Co. dropped their price objective on Colgate-Palmolive from $109.00 to $103.00 and set an “overweight” rating for the company in a research note on Thursday, January 16th. Stifel Nicolaus dropped their price objective on shares of Colgate-Palmolive from $101.00 to $95.00 and set a “hold” rating for the company in a report on Friday, January 17th. UBS Group dropped their price target on Colgate-Palmolive from $112.00 to $104.00 and set a “buy” rating for the company in a report on Thursday, January 16th. TD Cowen reduced their price objective on Colgate-Palmolive from $110.00 to $100.00 and set a “buy” rating on the stock in a research note on Wednesday, January 8th. Finally, Wells Fargo & Company decreased their target price on Colgate-Palmolive from $92.00 to $83.00 and set an “underweight” rating on the stock in a report on Tuesday, January 7th. One research analyst has rated the stock with a sell rating, ten have assigned a hold rating and twelve have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average 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.