Laurel Wealth Advisors LLC Lowers Position in Colgate-Palmolive (NYSE:CL)

Laurel Wealth Advisors LLC lowered its position in Colgate-Palmolive (NYSE:CL) by 1.6% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 14,618 shares of the company’s stock after selling 241 shares during the quarter. Laurel Wealth Advisors LLC’s holdings in Colgate-Palmolive were worth $1,329,000 as of its most recent filing with the Securities and Exchange Commission.

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

Insiders Place Their Bets

In other news, CFO Stanley J. Sutula III sold 45,410 shares of the firm’s 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 transaction, the chief financial officer now owns 36,726 shares in the company, valued at approximately $3,456,283.86. This trade represents a 55.29 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 0.37% of the company’s stock.

Colgate-Palmolive Trading Up 0.7 %

Shares of CL stock opened at $87.73 on Wednesday. The company has a quick ratio of 0.68, a current ratio of 1.04 and a debt-to-equity ratio of 9.46. The stock has a 50-day simple moving average of $92.36 and a 200 day simple moving average of $97.92. Colgate-Palmolive has a fifty-two week low of $79.69 and a fifty-two week high of $109.30. The stock has a market capitalization of $71.68 billion, a P/E ratio of 25.14, a P/E/G ratio of 3.31 and a beta of 0.44.

Colgate-Palmolive Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, February 14th. Shareholders of record on Tuesday, January 21st will be given a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a yield of 2.28%. The ex-dividend date of this dividend is Tuesday, January 21st. Colgate-Palmolive’s payout ratio is 57.31%.

Wall Street Analysts Forecast Growth

CL has been the subject of several analyst reports. StockNews.com downgraded Colgate-Palmolive from a “buy” rating to a “hold” rating in a research report on Thursday, January 9th. Piper Sandler lowered 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. Stifel Nicolaus cut shares of Colgate-Palmolive from a “buy” rating to a “hold” rating and reduced their target price for the stock from $105.00 to $101.00 in a research report on Monday, October 28th. JPMorgan Chase & Co. raised their price target on shares of Colgate-Palmolive from $113.00 to $114.00 and gave the company an “overweight” rating in a report on Friday, October 11th. Finally, TD Cowen cut their price objective on shares of Colgate-Palmolive from $110.00 to $100.00 and set a “buy” rating on the stock in a report on Wednesday, January 8th. One equities research analyst has rated the stock with a sell rating, ten have issued a hold rating and twelve have given a buy rating to the stock. Based on data from MarketBeat.com, Colgate-Palmolive has a consensus rating of “Hold” and a consensus target price of $103.63.

Colgate-Palmolive Company Profile

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.