AMG National Trust Bank Sells 20,633 Shares of Colgate-Palmolive (NYSE:CL)

AMG National Trust Bank lowered its holdings in Colgate-Palmolive (NYSE:CL) by 68.3% in the third quarter, Holdings Channel reports. The firm owned 9,563 shares of the company’s stock after selling 20,633 shares during the quarter. AMG National Trust Bank’s holdings in Colgate-Palmolive were worth $993,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. Covestor Ltd raised its stake in shares of Colgate-Palmolive by 26.9% during the 1st quarter. Covestor Ltd now owns 1,015 shares of the company’s stock worth $91,000 after purchasing an additional 215 shares in the last quarter. Bessemer Group Inc. raised its position in Colgate-Palmolive by 69.2% during the first quarter. Bessemer Group Inc. now owns 43,475 shares of the company’s stock worth $3,915,000 after acquiring an additional 17,773 shares in the last quarter. Lake Street Advisors Group LLC lifted its stake in Colgate-Palmolive by 38.8% in the first quarter. Lake Street Advisors Group LLC now owns 4,930 shares of the company’s stock valued at $444,000 after acquiring an additional 1,377 shares during the last quarter. Pitcairn Co. grew its position in shares of Colgate-Palmolive by 11.2% in the 1st quarter. Pitcairn Co. now owns 7,904 shares of the company’s stock valued at $712,000 after acquiring an additional 795 shares during the period. Finally, Crewe Advisors LLC acquired a new position in shares of Colgate-Palmolive during the 1st quarter worth about $114,000. 80.41% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Colgate-Palmolive

In other Colgate-Palmolive news, Director Martina Hundmejean sold 2,313 shares of the company’s stock in a transaction dated Friday, August 23rd. The stock was sold at an average price of $103.86, for a total value of $240,228.18. Following the completion of the transaction, the director now owns 11,755 shares of the company’s stock, valued at $1,220,874.30. This represents a 16.44 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at 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 shares were sold at an average price of $94.11, for a total value of $4,273,535.10. Following the completion of the transaction, the chief financial officer now directly owns 36,726 shares of the company’s stock, valued at $3,456,283.86. This represents a 55.29 % decrease in their position. The disclosure for this sale can be found here. 0.37% of the stock is owned by insiders.

Colgate-Palmolive Price Performance

CL stock opened at $93.61 on Wednesday. The company’s 50-day moving average price is $98.80 and its two-hundred day moving average price is $98.56. The firm has a market cap of $76.48 billion, a P/E ratio of 26.82, a P/E/G ratio of 3.34 and a beta of 0.42. 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 12 month low of $75.17 and a 12 month high of $109.30.

Colgate-Palmolive Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, November 15th. Shareholders of record on Friday, October 18th were given a dividend of $0.50 per share. The ex-dividend date of this dividend was Friday, October 18th. This represents a $2.00 annualized dividend and a yield of 2.14%. Colgate-Palmolive’s dividend payout ratio is currently 57.31%.

Analysts Set New Price Targets

A number of equities analysts recently commented on CL shares. Barclays lifted their price target on Colgate-Palmolive from $91.00 to $96.00 and gave the stock an “equal weight” rating in a report on Monday, July 29th. Morgan Stanley boosted their target price on Colgate-Palmolive from $103.00 to $111.00 and gave the stock an “overweight” rating in a report on Monday, July 29th. Sanford C. Bernstein raised their price target on Colgate-Palmolive from $100.00 to $103.00 and gave the company a “market perform” rating in a report on Tuesday, July 30th. 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 report on Monday, September 9th. Finally, Wells Fargo & Company reduced their target price on shares of Colgate-Palmolive from $100.00 to $92.00 and set an “underweight” rating for the company in a report on Monday, October 28th. One investment analyst has rated the stock with a sell rating, nine have issued a hold rating and thirteen have assigned a buy rating to the company. Based on data from MarketBeat, Colgate-Palmolive currently has an average rating of “Moderate Buy” and a consensus target price of $105.11.

Colgate-Palmolive 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.