Salem Investment Counselors Inc. Has $7.12 Million Position in Colgate-Palmolive (NYSE:CL)

Salem Investment Counselors Inc. lowered its holdings in shares of Colgate-Palmolive (NYSE:CL) by 1.5% during the fourth quarter, HoldingsChannel reports. The firm owned 78,358 shares of the company’s stock after selling 1,200 shares during the quarter. Salem Investment Counselors Inc.’s holdings in Colgate-Palmolive were worth $7,123,000 as of its most recent SEC filing.

Other hedge funds also recently modified their holdings of the company. Gordian Advisors LLC acquired a new stake in shares of Colgate-Palmolive during the third quarter worth about $602,000. Carrera Capital Advisors grew its holdings in shares of Colgate-Palmolive by 23.1% during the third quarter. Carrera Capital Advisors now owns 39,170 shares of the company’s stock worth $4,066,000 after buying an additional 7,353 shares in the last quarter. Vontobel Holding Ltd. grew its holdings in shares of Colgate-Palmolive by 224.6% during the third quarter. Vontobel Holding Ltd. now owns 795,938 shares of the company’s stock worth $82,626,000 after buying an additional 550,750 shares in the last quarter. Handelsbanken Fonder AB grew its holdings in shares of Colgate-Palmolive by 10.9% during the third quarter. Handelsbanken Fonder AB now owns 332,972 shares of the company’s stock worth $34,566,000 after buying an additional 32,624 shares in the last quarter. Finally, Barclays PLC grew its holdings in shares of Colgate-Palmolive by 38.7% during the third quarter. Barclays PLC now owns 7,644,189 shares of the company’s stock worth $793,542,000 after buying an additional 2,132,747 shares in the last quarter. Institutional investors and hedge funds 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 the business’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 sale, the chief financial officer now owns 36,726 shares in the company, valued at $3,456,283.86. The trade was a 55.29 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Insiders own 0.34% of the company’s stock.

Analysts Set New Price Targets

A number of research firms recently issued reports on CL. JPMorgan Chase & Co. increased their price objective on Colgate-Palmolive from $113.00 to $114.00 and gave the stock an “overweight” rating in a report on Friday, October 11th. Wells Fargo & Company decreased their price target on Colgate-Palmolive from $92.00 to $83.00 and set an “underweight” rating for the company in a research note on Tuesday, January 7th. TD Cowen decreased their price target on Colgate-Palmolive from $110.00 to $100.00 and set a “buy” rating for the company in a research note on Wednesday, January 8th. StockNews.com downgraded Colgate-Palmolive from a “buy” rating to a “hold” rating in a research note on Thursday. Finally, Piper Sandler decreased their price target on Colgate-Palmolive from $121.00 to $112.00 and set an “overweight” rating for the company in a research note on Monday, January 6th. One equities research analyst has rated the stock with a sell rating, ten have assigned a hold rating and twelve have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $103.63.

Colgate-Palmolive Stock Performance

NYSE:CL traded up $0.86 during mid-day trading on Monday, hitting $87.22. 4,428,469 shares of the stock were exchanged, compared to its average volume of 4,747,947. The stock has a market capitalization of $71.26 billion, a price-to-earnings ratio of 24.99, a price-to-earnings-growth ratio of 3.31 and a beta of 0.44. The firm’s 50-day simple moving average is $92.62 and its 200 day simple moving average is $98.06. The company has a debt-to-equity ratio of 9.46, a quick ratio of 0.68 and a current ratio of 1.04. Colgate-Palmolive has a fifty-two week low of $79.69 and a fifty-two week high of $109.30.

Colgate-Palmolive Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, February 14th. Shareholders of record on Tuesday, January 21st will be issued a $0.50 dividend. The ex-dividend date is Tuesday, January 21st. This represents a $2.00 annualized dividend and a yield of 2.29%. Colgate-Palmolive’s dividend payout ratio is presently 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.