MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH Cuts Stake in Colgate-Palmolive (NYSE:CL)

MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH cut its holdings in Colgate-Palmolive (NYSE:CL) by 43.8% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 13,523 shares of the company’s stock after selling 10,552 shares during the period. MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH’s holdings in Colgate-Palmolive were worth $1,228,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Reston Wealth Management LLC bought a new position in shares of Colgate-Palmolive during the third quarter worth $42,000. Capital Performance Advisors LLP purchased a new stake in Colgate-Palmolive in the 3rd quarter worth $53,000. Prospera Private Wealth LLC bought a new position in shares of Colgate-Palmolive during the 3rd quarter valued at about $64,000. True Wealth Design LLC grew its position in shares of Colgate-Palmolive by 1,460.9% during the third quarter. True Wealth Design LLC now owns 718 shares of the company’s stock valued at $75,000 after purchasing an additional 672 shares in the last quarter. Finally, Continuum Advisory LLC increased 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 worth $79,000 after purchasing an additional 368 shares during the last quarter. 80.41% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In other Colgate-Palmolive news, CFO Stanley J. Sutula III sold 45,410 shares of the company’s stock in a transaction on Tuesday, November 5th. The stock was 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 approximately $3,456,283.86. This represents a 55.29 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.34% of the stock is owned by insiders.

Analyst Ratings Changes

CL has been the topic of a number of research reports. StockNews.com downgraded Colgate-Palmolive from a “buy” rating to a “hold” rating in a research note on Thursday, January 9th. UBS Group reduced their price target on shares of Colgate-Palmolive from $112.00 to $104.00 and set a “buy” rating on the stock in a research report on Thursday, January 16th. Piper Sandler lowered their price objective on shares of Colgate-Palmolive from $121.00 to $112.00 and set an “overweight” rating for the company in a research report on Monday, January 6th. TD Cowen reduced their target price 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. Finally, Wells Fargo & Company lowered their price target on shares of Colgate-Palmolive from $92.00 to $83.00 and set an “underweight” rating for the company in a report on Tuesday, January 7th. One research analyst has rated the stock with a sell rating, ten have given a hold rating and twelve have assigned a buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $101.11.

Colgate-Palmolive Price Performance

Colgate-Palmolive stock opened at $87.98 on Friday. 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 has a market cap of $71.88 billion, a price-to-earnings ratio of 25.21, a price-to-earnings-growth ratio of 3.62 and a beta of 0.44. The firm has a 50-day moving average of $92.00 and a two-hundred day moving average of $97.58. Colgate-Palmolive has a 1 year low of $80.03 and a 1 year high of $109.30.

Colgate-Palmolive Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, February 14th. Investors of record on Tuesday, January 21st will be issued 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 dividend yield of 2.27%. Colgate-Palmolive’s payout ratio is 57.31%.

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.