Colgate-Palmolive (NYSE:CL) Shares Sold by Centre Asset Management LLC

Centre Asset Management LLC lowered its stake in shares of Colgate-Palmolive (NYSE:CL) by 8.0% during the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 88,165 shares of the company’s stock after selling 7,647 shares during the period. Colgate-Palmolive makes up about 1.8% of Centre Asset Management LLC’s investment portfolio, making the stock its 29th largest position. Centre Asset Management LLC’s holdings in Colgate-Palmolive were worth $8,015,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the stock. Reston Wealth Management LLC acquired a new stake in shares of Colgate-Palmolive in the third quarter valued at about $42,000. Capital Performance Advisors LLP acquired a new stake in Colgate-Palmolive in the 3rd quarter valued at about $53,000. Prospera Private Wealth LLC purchased a new position in shares of Colgate-Palmolive during the 3rd quarter worth approximately $64,000. True Wealth Design LLC raised its position in shares of Colgate-Palmolive by 1,460.9% during the 3rd quarter. True Wealth Design LLC now owns 718 shares of the company’s stock worth $75,000 after purchasing an additional 672 shares during the last quarter. Finally, Continuum Advisory LLC increased its position in Colgate-Palmolive by 93.4% during the third quarter. Continuum Advisory LLC now owns 762 shares of the company’s stock worth $79,000 after buying an additional 368 shares in the last quarter. 80.41% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

CL has been the subject of a number of recent research reports. StockNews.com upgraded Colgate-Palmolive from a “hold” rating to a “buy” rating in a research report on Wednesday. JPMorgan Chase & Co. lifted their price target on shares of Colgate-Palmolive from $113.00 to $114.00 and gave the stock an “overweight” rating in a report on Friday, October 11th. Deutsche Bank Aktiengesellschaft downgraded shares of Colgate-Palmolive from a “buy” rating to a “hold” rating and upped their price objective for the company from $107.00 to $109.00 in a research note on Monday, September 9th. Stifel Nicolaus cut shares of Colgate-Palmolive from a “buy” rating to a “hold” rating and lowered their target price for the stock from $105.00 to $101.00 in a research note on Monday, October 28th. Finally, Wells Fargo & Company decreased their price objective on Colgate-Palmolive from $100.00 to $92.00 and set an “underweight” rating on the stock in a report on Monday, October 28th. One equities research analyst has rated the stock with a sell rating, nine have given a hold rating and thirteen have issued a buy rating to the company. Based on data from MarketBeat, Colgate-Palmolive currently has a consensus rating of “Moderate Buy” and a consensus price target of $105.11.

Insider Activity

In other news, CFO Stanley J. Sutula III sold 45,410 shares of the firm’s stock in a transaction dated 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 directly owns 36,726 shares in the company, valued at $3,456,283.86. This trade represents a 55.29 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 0.34% of the company’s stock.

Colgate-Palmolive Stock Down 0.3 %

Colgate-Palmolive stock traded down $0.30 during trading on Friday, reaching $90.25. 403,098 shares of the company’s stock were exchanged, compared to its average volume of 1,759,919. Colgate-Palmolive has a 52-week low of $79.52 and a 52-week high of $109.30. The firm has a market cap of $73.74 billion, a price-to-earnings ratio of 25.86, a PEG ratio of 3.31 and a beta of 0.44. 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 company’s 50-day moving average is $93.46 and its two-hundred day moving average is $98.46.

Colgate-Palmolive Dividend Announcement

The business also recently announced 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. This represents a $2.00 annualized dividend and a dividend yield of 2.22%. The ex-dividend date of this dividend is Tuesday, January 21st. Colgate-Palmolive’s payout ratio is 57.31%.

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.