Colgate-Palmolive (NYSE:CL) Holdings Trimmed by CIBC Asset Management Inc

CIBC Asset Management Inc cut its holdings in Colgate-Palmolive (NYSE:CL) by 11.0% during the 3rd quarter, Holdings Channel.com reports. The fund owned 189,525 shares of the company’s stock after selling 23,334 shares during the quarter. CIBC Asset Management Inc’s holdings in Colgate-Palmolive were worth $19,660,000 at the end of the most recent reporting period.

Other large investors also recently made changes to their positions in the company. Balboa Wealth Partners bought a new stake in Colgate-Palmolive during the third quarter worth approximately $226,000. OneDigital Investment Advisors LLC grew its holdings in shares of Colgate-Palmolive by 23.8% in the 3rd quarter. OneDigital Investment Advisors LLC now owns 14,829 shares of the company’s stock worth $1,539,000 after acquiring an additional 2,847 shares during the last quarter. Metis Global Partners LLC raised its position in shares of Colgate-Palmolive by 13.1% during the third quarter. Metis Global Partners LLC now owns 28,671 shares of the company’s stock worth $2,976,000 after purchasing an additional 3,320 shares during the period. Huntington National Bank boosted its position in shares of Colgate-Palmolive by 10.3% in the 3rd quarter. Huntington National Bank now owns 172,829 shares of the company’s stock valued at $17,941,000 after purchasing an additional 16,121 shares during the period. Finally, D Orazio & Associates Inc. increased its stake in Colgate-Palmolive by 3.9% in the 3rd quarter. D Orazio & Associates Inc. now owns 2,862 shares of the company’s stock worth $297,000 after purchasing an additional 108 shares in the last quarter. Institutional investors own 80.41% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts have commented on the stock. Hsbc Global Res cut shares of Colgate-Palmolive from a “strong-buy” rating to a “hold” rating in a report on Friday, July 26th. Wells Fargo & Company lowered their price objective on shares of Colgate-Palmolive from $100.00 to $92.00 and set an “underweight” rating on the stock in a research report on Monday, October 28th. Sanford C. Bernstein boosted their target price on shares of Colgate-Palmolive from $100.00 to $103.00 and gave the company a “market perform” rating in a research note on Tuesday, July 30th. Deutsche Bank Aktiengesellschaft cut Colgate-Palmolive from a “buy” rating to a “hold” rating and raised their target price for the stock from $107.00 to $109.00 in a research report on Monday, September 9th. Finally, TD Cowen reduced their price objective on Colgate-Palmolive from $115.00 to $110.00 and set a “buy” rating for the company in a research note on Monday, October 28th. One investment analyst has rated the stock with a sell rating, nine have given a hold rating and thirteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $105.11.

Colgate-Palmolive Stock Performance

CL opened at $93.58 on Friday. The stock has a 50-day moving average of $99.60 and a 200-day moving average of $98.43. 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 52-week low of $75.17 and a 52-week high of $109.30. The company has a market cap of $76.46 billion, a PE ratio of 26.81, a price-to-earnings-growth ratio of 3.25 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. Investors of record on Friday, October 18th were issued a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a dividend yield of 2.14%. The ex-dividend date of this dividend was Friday, October 18th. Colgate-Palmolive’s dividend payout ratio is currently 57.31%.

Insider Activity at Colgate-Palmolive

In other Colgate-Palmolive news, Director Martina Hundmejean sold 2,313 shares of the firm’s stock in a transaction that occurred on Friday, August 23rd. The stock was sold at an average price of $103.86, for a total value of $240,228.18. Following the sale, the director now owns 11,755 shares of the company’s stock, valued at $1,220,874.30. This trade represents a 16.44 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, CFO Stanley J. Sutula III sold 45,410 shares of the company’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 transaction, the chief financial officer now owns 36,726 shares of the company’s stock, valued at approximately $3,456,283.86. This trade represents a 55.29 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.34% of the stock is currently owned by company insiders.

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.