Essex Savings Bank Sells 2,178 Shares of Colgate-Palmolive (NYSE:CL)

Essex Savings Bank lessened its holdings in Colgate-Palmolive (NYSE:CL) by 13.1% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 14,440 shares of the company’s stock after selling 2,178 shares during the period. Essex Savings Bank’s holdings in Colgate-Palmolive were worth $1,313,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Reston Wealth Management LLC purchased a new stake in shares of Colgate-Palmolive in the third quarter valued at about $42,000. Capital Performance Advisors LLP bought a new stake in Colgate-Palmolive in the 3rd quarter worth about $53,000. Prospera Private Wealth LLC purchased a new stake in Colgate-Palmolive in the 3rd quarter valued at about $64,000. True Wealth Design LLC lifted its position 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 worth $75,000 after buying an additional 672 shares in the last quarter. Finally, Continuum Advisory LLC grew its holdings in shares of Colgate-Palmolive by 93.4% in the third quarter. Continuum Advisory LLC now owns 762 shares of the company’s stock valued at $79,000 after acquiring an additional 368 shares in the last quarter. 80.41% of the stock is owned by institutional investors.

Colgate-Palmolive Stock Performance

Colgate-Palmolive stock opened at $87.90 on Thursday. Colgate-Palmolive has a 1-year low of $79.69 and a 1-year high of $109.30. The firm has a market cap of $71.82 billion, a P/E ratio of 25.19, a P/E/G ratio of 3.31 and a beta of 0.44. The company has a current ratio of 1.04, a quick ratio of 0.68 and a debt-to-equity ratio of 9.46. The firm has a 50-day moving average of $92.36 and a 200-day moving average of $97.92.

Colgate-Palmolive Announces Dividend

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

Wall Street Analyst Weigh In

A number of equities research analysts recently commented on CL shares. JPMorgan Chase & Co. lifted their price target on shares of Colgate-Palmolive from $113.00 to $114.00 and gave the stock an “overweight” rating in a report on Friday, October 11th. Piper Sandler lowered their target price on shares of Colgate-Palmolive from $121.00 to $112.00 and set an “overweight” rating on the stock in a research note on Monday, January 6th. TD Cowen decreased their price target on shares of Colgate-Palmolive from $110.00 to $100.00 and set a “buy” rating on the stock in a report on Wednesday, January 8th. Stifel Nicolaus lowered Colgate-Palmolive from a “buy” rating to a “hold” rating and dropped their price objective for the company from $105.00 to $101.00 in a research note on Monday, October 28th. Finally, Wells Fargo & Company decreased their target price on Colgate-Palmolive from $92.00 to $83.00 and set an “underweight” rating on the stock in a research note on Tuesday, January 7th. One research analyst has rated the stock with a sell rating, ten have assigned a hold rating and twelve have assigned a buy rating to the company. According to MarketBeat, Colgate-Palmolive currently has a consensus rating of “Hold” and a consensus price target of $103.63.

Insider Buying and Selling

In other Colgate-Palmolive news, CFO Stanley J. Sutula III sold 45,410 shares of the firm’s stock in a transaction dated 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 sale, the chief financial officer now directly owns 36,726 shares in the company, valued at $3,456,283.86. This trade represents a 55.29 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. 0.37% of the stock is currently owned by insiders.

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.