Wallington Asset Management LLC Decreases Stock Position in Colgate-Palmolive (NYSE:CL)

Wallington Asset Management LLC cut its position in shares of Colgate-Palmolive (NYSE:CL) by 0.9% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 71,255 shares of the company’s stock after selling 630 shares during the period. Wallington Asset Management LLC’s holdings in Colgate-Palmolive were worth $6,478,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in CL. State Street Corp increased its holdings in Colgate-Palmolive by 3.8% during the 3rd quarter. State Street Corp now owns 48,436,276 shares of the company’s stock worth $5,028,170,000 after purchasing an additional 1,784,411 shares during the period. Geode Capital Management LLC lifted its holdings in Colgate-Palmolive by 2.8% during the third quarter. Geode Capital Management LLC now owns 20,193,331 shares of the company’s stock worth $2,095,325,000 after buying an additional 552,949 shares during the period. Massachusetts Financial Services Co. MA raised its position in shares of Colgate-Palmolive by 6.2% in the 3rd quarter. Massachusetts Financial Services Co. MA now owns 9,526,990 shares of the company’s stock worth $988,997,000 after acquiring an additional 557,492 shares in the last quarter. Legal & General Group Plc lifted its stake in shares of Colgate-Palmolive by 0.8% during the 2nd quarter. Legal & General Group Plc now owns 7,785,101 shares of the company’s stock worth $755,465,000 after purchasing an additional 61,413 shares during the last quarter. Finally, Barclays PLC lifted its stake in shares of Colgate-Palmolive by 38.7% during the 3rd quarter. Barclays PLC now owns 7,644,189 shares of the company’s stock worth $793,542,000 after purchasing an additional 2,132,747 shares during the last quarter. Institutional investors own 80.41% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on CL shares. UBS Group reduced their target price on shares of Colgate-Palmolive from $112.00 to $104.00 and set a “buy” rating for the company in a report on Thursday. Stifel Nicolaus cut their price objective on shares of Colgate-Palmolive from $101.00 to $95.00 and set a “hold” rating on the stock in a report on Friday. Piper Sandler dropped their target price on shares of Colgate-Palmolive from $121.00 to $112.00 and set an “overweight” rating on the stock in a research report on Monday, January 6th. Barclays decreased their price target on shares of Colgate-Palmolive from $96.00 to $83.00 and set an “equal weight” rating for the company in a report on Friday. Finally, TD Cowen dropped their price target 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. One investment analyst has rated the stock with a sell rating, ten have assigned a hold rating and twelve have given a buy rating to the company. According to MarketBeat.com, Colgate-Palmolive presently has an average rating of “Hold” and a consensus price target of $101.11.

Insider Buying and Selling at Colgate-Palmolive

In related news, CFO Stanley J. Sutula III sold 45,410 shares of the stock in a transaction on Tuesday, November 5th. The shares were 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 directly owns 36,726 shares of the company’s stock, valued at $3,456,283.86. This trade represents a 55.29 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. 0.37% of the stock is currently owned by corporate insiders.

Colgate-Palmolive Stock Performance

Shares of Colgate-Palmolive stock opened at $88.79 on Friday. The firm has a market cap of $72.55 billion, a PE ratio of 25.44, a price-to-earnings-growth ratio of 3.01 and a beta of 0.44. The company has a quick ratio of 0.68, a current ratio of 1.04 and a debt-to-equity ratio of 9.46. Colgate-Palmolive has a 52 week low of $79.69 and a 52 week high of $109.30. The business’s fifty day simple moving average is $92.27 and its 200-day simple moving average is $97.78.

Colgate-Palmolive Dividend Announcement

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 issued a $0.50 dividend. The ex-dividend date of this dividend is Tuesday, January 21st. This represents a $2.00 annualized dividend and a dividend yield of 2.25%. Colgate-Palmolive’s dividend payout ratio is presently 57.31%.

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.