Armstrong Advisory Group Inc. Decreases Stake in Colgate-Palmolive (NYSE:CL)

Armstrong Advisory Group Inc. lessened its holdings in shares of Colgate-Palmolive (NYSE:CL) by 3.2% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 7,089 shares of the company’s stock after selling 237 shares during the period. Armstrong Advisory Group Inc.’s holdings in Colgate-Palmolive were worth $644,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of CL. Oppenheimer Asset Management Inc. lifted its position in Colgate-Palmolive by 2.5% during the second quarter. Oppenheimer Asset Management Inc. now owns 27,860 shares of the company’s stock worth $2,704,000 after buying an additional 678 shares in the last quarter. Envestnet Asset Management Inc. increased its stake in shares of Colgate-Palmolive by 16.2% in the 2nd quarter. Envestnet Asset Management Inc. now owns 459,445 shares of the company’s stock worth $44,585,000 after acquiring an additional 64,123 shares during the last quarter. One Capital Management LLC purchased a new position in shares of Colgate-Palmolive during the 2nd quarter worth $368,000. Citizens Financial Group Inc. RI boosted its position in shares of Colgate-Palmolive by 23.0% during the 2nd quarter. Citizens Financial Group Inc. RI now owns 17,314 shares of the company’s stock valued at $1,680,000 after acquiring an additional 3,232 shares during the last quarter. Finally, Edgestream Partners L.P. grew its holdings in shares of Colgate-Palmolive by 13.9% in the second quarter. Edgestream Partners L.P. now owns 19,864 shares of the company’s stock valued at $1,928,000 after purchasing an additional 2,423 shares during the period. Institutional investors and hedge funds own 80.41% of the company’s stock.

Insider Buying and Selling

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 completion of the transaction, 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 ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.37% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

CL has been the topic of a number of analyst reports. Wells Fargo & Company reduced their target price on shares of Colgate-Palmolive from $92.00 to $83.00 and set an “underweight” rating on the stock in a research note on Tuesday, January 7th. StockNews.com lowered shares of Colgate-Palmolive from a “buy” rating to a “hold” rating in a research report on Thursday, January 9th. 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 research report on Friday, October 11th. Piper Sandler reduced their target price on Colgate-Palmolive from $121.00 to $112.00 and set an “overweight” rating on the stock in a research report on Monday, January 6th. Finally, Stifel Nicolaus cut 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. One equities research analyst has rated the stock with a sell rating, ten have issued a hold rating and twelve have assigned a buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $103.63.

Colgate-Palmolive Stock Performance

Shares of CL stock opened at $87.90 on Thursday. The firm has a 50 day moving average of $92.36 and a two-hundred day moving average of $97.92. The stock has a market capitalization of $71.82 billion, a PE ratio of 25.19, a P/E/G ratio of 3.31 and a beta of 0.44. 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 52 week low of $79.69 and a 52 week high of $109.30.

Colgate-Palmolive Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, February 14th. Investors 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 payout ratio is 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.