Parsons Capital Management Inc. RI Has $1.41 Million Stock Holdings in Colgate-Palmolive (NYSE:CL)

Parsons Capital Management Inc. RI grew its stake in shares of Colgate-Palmolive (NYSE:CL) by 1.0% during the 4th quarter, Holdings Channel reports. The firm owned 15,521 shares of the company’s stock after buying an additional 154 shares during the period. Parsons Capital Management Inc. RI’s holdings in Colgate-Palmolive were worth $1,411,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently made changes to their positions in CL. Union Bancaire Privee UBP SA bought a new position in shares of Colgate-Palmolive in the fourth quarter valued at $32,000. Reston Wealth Management LLC acquired a new stake in Colgate-Palmolive in the third quarter valued at $42,000. Capital Performance Advisors LLP bought a new position in shares of Colgate-Palmolive in the 3rd quarter valued at about $53,000. Prospera Private Wealth LLC acquired a new position in shares of Colgate-Palmolive during the 3rd quarter worth about $64,000. Finally, True Wealth Design LLC raised its holdings in shares of Colgate-Palmolive by 1,460.9% in the 3rd quarter. True Wealth Design LLC now owns 718 shares of the company’s stock valued at $75,000 after purchasing an additional 672 shares during the period. Institutional investors own 80.41% of the company’s stock.

Analyst Ratings Changes

A number of brokerages have weighed in on CL. TD Cowen lowered their price target on Colgate-Palmolive from $110.00 to $100.00 and set a “buy” rating on the stock in a research report on Wednesday, January 8th. JPMorgan Chase & Co. decreased their target price on Colgate-Palmolive from $109.00 to $103.00 and set an “overweight” rating on the stock in a report on Thursday, January 16th. Stifel Nicolaus cut their price target on Colgate-Palmolive from $101.00 to $95.00 and set a “hold” rating for the company in a report on Friday, January 17th. UBS Group decreased their price objective on shares of Colgate-Palmolive from $112.00 to $104.00 and set a “buy” rating on the stock in a report on Thursday, January 16th. Finally, Wells Fargo & Company cut their target price on shares of Colgate-Palmolive from $92.00 to $83.00 and set an “underweight” rating for the company in a research note on Tuesday, January 7th. One investment analyst has rated the stock with a sell rating, ten have assigned a hold rating and twelve have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $101.11.

Insider Activity at Colgate-Palmolive

In related news, CFO Stanley J. Sutula III sold 45,410 shares of Colgate-Palmolive 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 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 ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. 0.34% of the stock is owned by insiders.

Colgate-Palmolive Price Performance

Colgate-Palmolive stock opened at $91.19 on Tuesday. The firm has a market cap of $74.50 billion, a PE ratio of 26.13, a price-to-earnings-growth ratio of 3.59 and a beta of 0.44. 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 $91.81 and its two-hundred day moving average price is $97.45. Colgate-Palmolive has a one year low of $82.68 and a one year high of $109.30.

Colgate-Palmolive Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, February 14th. Investors of record on Tuesday, January 21st will be given a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a dividend yield of 2.19%. The ex-dividend date of this dividend is Tuesday, January 21st. Colgate-Palmolive’s payout ratio is currently 57.31%.

About Colgate-Palmolive

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.