Rockland Trust Co. Cuts Holdings in Colgate-Palmolive (NYSE:CL)

Rockland Trust Co. lowered its stake in Colgate-Palmolive (NYSE:CL) by 5.8% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 167,801 shares of the company’s stock after selling 10,348 shares during the period. Rockland Trust Co.’s holdings in Colgate-Palmolive were worth $15,255,000 as of its most recent SEC filing.

Several other large investors have also recently modified their holdings of CL. Reston Wealth Management LLC bought a new stake in shares of Colgate-Palmolive during the 3rd quarter worth approximately $42,000. Capital Performance Advisors LLP bought a new stake 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 third quarter worth $64,000. True Wealth Design LLC raised its position 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 last quarter. Finally, Continuum Advisory LLC grew its holdings in shares of Colgate-Palmolive by 93.4% during the third quarter. Continuum Advisory LLC now owns 762 shares of the company’s stock valued at $79,000 after buying an additional 368 shares during the last quarter. Institutional investors own 80.41% of the company’s stock.

Insider Buying and Selling at Colgate-Palmolive

In related news, CFO Stanley J. Sutula III sold 45,410 shares of Colgate-Palmolive stock in a transaction on Tuesday, November 5th. The stock was 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 in the company, valued at approximately $3,456,283.86. This trade represents a 55.29 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Company insiders own 0.37% of the company’s stock.

Colgate-Palmolive Trading Up 0.7 %

CL opened at $87.73 on Wednesday. The company’s 50 day simple moving average is $92.36 and its two-hundred day simple moving average is $97.92. 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 firm has a market capitalization of $71.68 billion, a price-to-earnings ratio of 25.14, a price-to-earnings-growth ratio of 3.31 and a beta of 0.44. Colgate-Palmolive has a 1-year low of $79.69 and a 1-year high of $109.30.

Colgate-Palmolive Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, February 14th. Shareholders of record on Tuesday, January 21st will be paid a dividend of $0.50 per share. The ex-dividend date is Tuesday, January 21st. This represents a $2.00 annualized dividend and a yield of 2.28%. Colgate-Palmolive’s dividend payout ratio (DPR) is 57.31%.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently commented on CL shares. Piper Sandler decreased their target price on Colgate-Palmolive from $121.00 to $112.00 and set an “overweight” rating for the company in a report on Monday, January 6th. Stifel Nicolaus downgraded shares of Colgate-Palmolive from a “buy” rating to a “hold” rating and lowered their price target for the stock from $105.00 to $101.00 in a report on Monday, October 28th. StockNews.com lowered shares of Colgate-Palmolive from a “buy” rating to a “hold” rating in a research note on Thursday, January 9th. JPMorgan Chase & Co. lifted their price target on Colgate-Palmolive from $113.00 to $114.00 and gave the company an “overweight” rating in a research note on Friday, October 11th. Finally, Wells Fargo & Company lowered their price target on Colgate-Palmolive from $92.00 to $83.00 and set an “underweight” rating on the stock in a research report on Tuesday, January 7th. One investment analyst has rated the stock with a sell rating, ten have given a hold rating and twelve have issued a buy rating to the company. Based on data from MarketBeat, Colgate-Palmolive currently has a consensus rating of “Hold” and an average price target of $103.63.

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.