Kentucky Retirement Systems Sells 4,902 Shares of Colgate-Palmolive (NYSE:CL)

Kentucky Retirement Systems reduced its stake in Colgate-Palmolive (NYSE:CL) by 7.9% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 56,923 shares of the company’s stock after selling 4,902 shares during the quarter. Kentucky Retirement Systems’ holdings in Colgate-Palmolive were worth $5,909,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in CL. Price T Rowe Associates Inc. MD boosted its position in shares of Colgate-Palmolive by 27.8% during the first quarter. Price T Rowe Associates Inc. MD now owns 41,067,130 shares of the company’s stock worth $3,698,096,000 after buying an additional 8,933,912 shares during the period. Massachusetts Financial Services Co. MA boosted its position in Colgate-Palmolive by 40.7% during the 2nd quarter. Massachusetts Financial Services Co. MA now owns 8,969,498 shares of the company’s stock worth $870,400,000 after acquiring an additional 2,593,313 shares during the last quarter. Legal & General Group Plc grew 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 acquiring an additional 61,413 shares in the last quarter. GUARDCAP ASSET MANAGEMENT Ltd grew its stake in shares of Colgate-Palmolive by 4.1% during the 1st quarter. GUARDCAP ASSET MANAGEMENT Ltd now owns 6,987,454 shares of the company’s stock worth $629,220,000 after acquiring an additional 278,150 shares in the last quarter. Finally, Acadian Asset Management LLC raised its holdings in shares of Colgate-Palmolive by 108.4% in the second quarter. Acadian Asset Management LLC now owns 5,682,280 shares of the company’s stock valued at $551,367,000 after purchasing an additional 2,955,442 shares during the last quarter. 80.41% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In related news, CFO Stanley J. Sutula III sold 45,410 shares of the company’s stock in a transaction that occurred 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 transaction, the chief financial officer now directly owns 36,726 shares in the company, valued at $3,456,283.86. This represents a 55.29 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Martina Hundmejean sold 2,313 shares of the company’s stock in a transaction on Friday, August 23rd. The stock was sold at an average price of $103.86, for a total transaction of $240,228.18. Following the transaction, 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 ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 0.34% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts have issued reports on the stock. Piper Sandler began coverage on shares of Colgate-Palmolive in a research note on Tuesday, September 24th. They issued an “overweight” rating and a $121.00 price target on the stock. Barclays upped their target price on Colgate-Palmolive from $91.00 to $96.00 and gave the stock an “equal weight” rating in a report on Monday, July 29th. UBS Group raised their price target on Colgate-Palmolive from $119.00 to $122.00 and gave the company a “buy” rating in a research note on Wednesday, September 4th. Stifel Nicolaus cut Colgate-Palmolive from a “buy” rating to a “hold” rating and dropped their price objective for the stock from $105.00 to $101.00 in a research note on Monday, October 28th. Finally, Wells Fargo & Company decreased their target price on shares of Colgate-Palmolive from $100.00 to $92.00 and set an “underweight” rating for the company in a research note on Monday, October 28th. One research analyst has rated the stock with a sell rating, nine have assigned a hold rating and thirteen have assigned a buy rating to the company’s stock. According to data from MarketBeat, Colgate-Palmolive presently has a consensus rating of “Moderate Buy” and an average price target of $105.11.

Colgate-Palmolive Stock Performance

Shares of NYSE CL opened at $93.56 on Friday. The company has a debt-to-equity ratio of 9.46, a current ratio of 1.04 and a quick ratio of 0.68. The stock’s fifty day moving average price is $99.31 and its two-hundred day moving average price is $98.49. Colgate-Palmolive has a one year low of $75.17 and a one year high of $109.30. The firm has a market cap of $76.44 billion, a price-to-earnings ratio of 26.81, a P/E/G ratio of 3.25 and a beta of 0.42.

Colgate-Palmolive Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, November 15th. Investors of record on Friday, October 18th were paid a $0.50 dividend. This represents a $2.00 annualized dividend and a dividend yield of 2.14%. The ex-dividend date was Friday, October 18th. Colgate-Palmolive’s dividend payout ratio (DPR) is currently 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.