Central Pacific Bank Trust Division Cuts Stock Position in Colgate-Palmolive (NYSE:CL)

Central Pacific Bank Trust Division trimmed its position in shares of Colgate-Palmolive (NYSE:CL) by 6.3% in the fourth quarter, HoldingsChannel.com reports. The fund owned 18,615 shares of the company’s stock after selling 1,254 shares during the period. Central Pacific Bank Trust Division’s holdings in Colgate-Palmolive were worth $1,692,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of the company. Van ECK Associates Corp raised its position in Colgate-Palmolive by 5.0% in the 2nd quarter. Van ECK Associates Corp now owns 40,487 shares of the company’s stock valued at $3,929,000 after purchasing an additional 1,940 shares in the last quarter. Founders Financial Securities LLC raised its holdings in Colgate-Palmolive by 3.0% in the second quarter. Founders Financial Securities LLC now owns 5,783 shares of the company’s stock valued at $561,000 after acquiring an additional 167 shares in the last quarter. Cozad Asset Management Inc. lifted its stake in Colgate-Palmolive by 5.2% in the second quarter. Cozad Asset Management Inc. now owns 5,761 shares of the company’s stock worth $559,000 after acquiring an additional 284 shares during the last quarter. Simon Quick Advisors LLC grew its holdings in Colgate-Palmolive by 4.6% during the 2nd quarter. Simon Quick Advisors LLC now owns 5,935 shares of the company’s stock worth $576,000 after acquiring an additional 262 shares in the last quarter. Finally, Wealth Effects LLC purchased a new stake in shares of Colgate-Palmolive in the 2nd quarter valued at approximately $210,000. 80.41% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of equities analysts recently commented on the stock. Piper Sandler began coverage on shares of Colgate-Palmolive in a research note on Tuesday, September 24th. They set an “overweight” rating and a $121.00 target price for the company. StockNews.com upgraded Colgate-Palmolive from a “hold” rating to a “buy” rating in a report on Wednesday. TD Cowen decreased their target price on Colgate-Palmolive from $115.00 to $110.00 and set a “buy” rating for the company in a research note on Monday, October 28th. JPMorgan Chase & Co. increased their price target on shares of 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 reduced their price objective on shares of Colgate-Palmolive from $100.00 to $92.00 and set an “underweight” rating for the company in a research report on Monday, October 28th. One analyst has rated the stock with a sell rating, nine have assigned a hold rating and thirteen have given a buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $105.11.

Colgate-Palmolive Price Performance

Colgate-Palmolive stock traded down $0.12 during mid-day trading on Friday, reaching $90.43. The company had a trading volume of 1,366,319 shares, compared to its average volume of 2,271,465. The company has a market capitalization of $73.88 billion, a P/E ratio of 25.91, a P/E/G ratio of 3.31 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 50-day simple moving average is $93.46 and its 200-day simple moving average is $98.46. Colgate-Palmolive has a 1 year low of $79.52 and a 1 year high of $109.30.

Colgate-Palmolive Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, February 14th. Stockholders 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 2.21%. The ex-dividend date of this dividend is Tuesday, January 21st. Colgate-Palmolive’s dividend payout ratio is currently 57.31%.

Insiders Place Their Bets

In related news, CFO Stanley J. Sutula III sold 45,410 shares of the firm’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 sale, the chief financial officer now directly owns 36,726 shares of the company’s stock, 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 legal filing with the Securities & Exchange Commission, which is available at the SEC website. 0.34% of the stock is currently owned by company insiders.

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.