Associated Banc Corp Trims Holdings in Colgate-Palmolive (NYSE:CL)

Associated Banc Corp lowered its position in Colgate-Palmolive (NYSE:CL) by 1.4% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 76,344 shares of the company’s stock after selling 1,066 shares during the period. Associated Banc Corp’s holdings in Colgate-Palmolive were worth $7,925,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Gordian Advisors LLC purchased a new stake in shares of Colgate-Palmolive in the 3rd quarter valued at $602,000. Carrera Capital Advisors boosted its holdings in Colgate-Palmolive by 23.1% in the third quarter. Carrera Capital Advisors now owns 39,170 shares of the company’s stock valued at $4,066,000 after purchasing an additional 7,353 shares during the last quarter. Vontobel Holding Ltd. grew its position in Colgate-Palmolive by 224.6% during the 3rd quarter. Vontobel Holding Ltd. now owns 795,938 shares of the company’s stock worth $82,626,000 after purchasing an additional 550,750 shares during the period. PGGM Investments raised its stake in shares of Colgate-Palmolive by 171.8% during the 2nd quarter. PGGM Investments now owns 157,608 shares of the company’s stock valued at $15,294,000 after buying an additional 99,624 shares during the last quarter. Finally, QRG Capital Management Inc. lifted its holdings in shares of Colgate-Palmolive by 11.2% in the 2nd quarter. QRG Capital Management Inc. now owns 57,275 shares of the company’s stock valued at $5,558,000 after buying an additional 5,751 shares during the period. Institutional investors and hedge funds own 80.41% of the company’s stock.

Colgate-Palmolive Trading Up 0.5 %

NYSE:CL traded up $0.50 during trading hours on Monday, hitting $95.42. The company had a trading volume of 261,456 shares, compared to its average volume of 4,364,833. Colgate-Palmolive has a 1 year low of $75.50 and a 1 year high of $109.30. The company has a market cap of $77.96 billion, a P/E ratio of 27.20, a P/E/G ratio of 3.39 and a beta of 0.42. The company has a 50-day moving average of $98.10 and a 200 day moving average of $98.57. The company has a current ratio of 1.04, a quick ratio of 0.68 and a debt-to-equity ratio of 9.46.

Colgate-Palmolive Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, November 15th. Investors of record on Friday, October 18th were given a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a yield of 2.10%. The ex-dividend date of this dividend was Friday, October 18th. Colgate-Palmolive’s payout ratio is currently 57.31%.

Analysts Set New Price Targets

Several analysts recently commented on the company. UBS Group raised their target price on Colgate-Palmolive from $119.00 to $122.00 and gave the stock a “buy” rating in a report on Wednesday, September 4th. Deutsche Bank Aktiengesellschaft cut shares of Colgate-Palmolive from a “buy” rating to a “hold” rating and boosted their target price for the company from $107.00 to $109.00 in a research note on Monday, September 9th. Piper Sandler began coverage on shares of Colgate-Palmolive in a research report on Tuesday, September 24th. They set an “overweight” rating and a $121.00 price target on the stock. Sanford C. Bernstein upped their price objective on shares of Colgate-Palmolive from $100.00 to $103.00 and gave the stock a “market perform” rating in a research report on Tuesday, July 30th. Finally, TD Cowen dropped their target price on Colgate-Palmolive from $115.00 to $110.00 and set a “buy” rating on the stock in a research report on Monday, October 28th. One investment analyst has rated the stock with a sell rating, nine have given a hold rating and thirteen have given 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.

Insiders Place Their Bets

In other Colgate-Palmolive news, CFO Stanley J. Sutula III sold 45,410 shares of the firm’s stock in a transaction on 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 owns 36,726 shares of the company’s stock, valued at $3,456,283.86. This trade represents a 55.29 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 0.37% of the stock is owned by insiders.

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.