Colgate-Palmolive (NYSE:CL) Stock Position Increased by Canandaigua National Bank & Trust Co.

Canandaigua National Bank & Trust Co. raised its holdings in shares of Colgate-Palmolive (NYSE:CL) by 3.4% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 12,534 shares of the company’s stock after buying an additional 412 shares during the period. Canandaigua National Bank & Trust Co.’s holdings in Colgate-Palmolive were worth $1,139,000 as of its most recent SEC filing.

Other hedge funds have also modified their holdings of the company. Reston Wealth Management LLC acquired a new position in Colgate-Palmolive in the 3rd quarter worth approximately $42,000. Capital Performance Advisors LLP bought a new position in Colgate-Palmolive during the third quarter valued at approximately $53,000. Prospera Private Wealth LLC acquired a new stake in shares of Colgate-Palmolive in the 3rd quarter valued at $64,000. True Wealth Design LLC increased its holdings in shares of Colgate-Palmolive by 1,460.9% during the 3rd quarter. True Wealth Design LLC now owns 718 shares of the company’s stock valued at $75,000 after acquiring an additional 672 shares during the last quarter. Finally, Continuum Advisory LLC grew its holdings in 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 purchasing an additional 368 shares during the last quarter. 80.41% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several equities research analysts have recently issued reports on the company. Stifel Nicolaus downgraded Colgate-Palmolive from a “buy” rating to a “hold” rating and lowered their price target for the company from $105.00 to $101.00 in a research report on Monday, October 28th. Wells Fargo & Company cut their price target 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. Deutsche Bank Aktiengesellschaft lowered shares of Colgate-Palmolive from a “buy” rating to a “hold” rating and upped their target price for the stock from $107.00 to $109.00 in a report on Monday, September 9th. Piper Sandler dropped their price target on Colgate-Palmolive from $121.00 to $112.00 and set an “overweight” rating for the company in a report on Monday. Finally, TD Cowen reduced their target price on shares of 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 research analyst has rated the stock with a sell rating, nine have given a hold rating and thirteen have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $104.63.

Colgate-Palmolive Trading Down 3.0 %

Shares of NYSE CL opened at $87.42 on Tuesday. 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 twelve month low of $79.69 and a twelve month high of $109.30. The company’s fifty day moving average is $93.18 and its 200-day moving average is $98.38. The stock has a market cap of $71.42 billion, a price-to-earnings ratio of 25.05, a P/E/G ratio of 3.31 and a beta of 0.44.

Colgate-Palmolive Dividend Announcement

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 $0.50 dividend. The ex-dividend date of this dividend is Tuesday, January 21st. This represents a $2.00 dividend on an annualized basis and a yield of 2.29%. Colgate-Palmolive’s payout ratio is 57.31%.

Insiders Place Their Bets

In other news, CFO Stanley J. Sutula III sold 45,410 shares of the stock in a transaction 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 sale, the chief financial officer now owns 36,726 shares of the company’s stock, valued at $3,456,283.86. This represents a 55.29 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Corporate insiders own 0.34% of the company’s stock.

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.