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

Central Pacific Bank Trust Division reduced its stake in Colgate-Palmolive (NYSE:CL) by 6.3% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor 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 reporting period.

A number of other institutional investors have also modified their holdings of the stock. State Street Corp increased its holdings in Colgate-Palmolive by 3.8% during the 3rd quarter. State Street Corp now owns 48,436,276 shares of the company’s stock worth $5,028,170,000 after purchasing an additional 1,784,411 shares during the period. Geode Capital Management LLC lifted its stake in Colgate-Palmolive by 2.8% in the third quarter. Geode Capital Management LLC now owns 20,193,331 shares of the company’s stock worth $2,095,325,000 after acquiring an additional 552,949 shares during the period. Massachusetts Financial Services Co. MA grew its holdings in Colgate-Palmolive by 6.2% during the 3rd quarter. Massachusetts Financial Services Co. MA now owns 9,526,990 shares of the company’s stock worth $988,997,000 after acquiring an additional 557,492 shares in the last quarter. Legal & General Group Plc increased its position in Colgate-Palmolive by 0.8% during the 2nd quarter. Legal & General Group Plc now owns 7,785,101 shares of the company’s stock valued at $755,465,000 after purchasing an additional 61,413 shares during the period. Finally, Barclays PLC raised its holdings in shares of Colgate-Palmolive by 38.7% in the 3rd quarter. Barclays PLC now owns 7,644,189 shares of the company’s stock valued at $793,542,000 after purchasing an additional 2,132,747 shares in the last quarter. 80.41% of the stock is owned by hedge funds and other institutional investors.

Colgate-Palmolive Price Performance

Shares of Colgate-Palmolive stock traded down $0.12 on Friday, hitting $90.43. 1,366,319 shares of the company were exchanged, compared to its average volume of 2,271,465. The company has a quick ratio of 0.68, a current ratio of 1.04 and a debt-to-equity ratio of 9.46. The company has a 50-day moving average price of $93.46 and a 200 day moving average price of $98.46. The stock has a market capitalization of $73.88 billion, a price-to-earnings ratio of 25.91, a price-to-earnings-growth ratio of 3.31 and a beta of 0.44. Colgate-Palmolive has a 1-year low of $79.52 and a 1-year high of $109.30.

Colgate-Palmolive Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, February 14th. Stockholders of record on Tuesday, January 21st will be issued a dividend of $0.50 per share. The ex-dividend date is Tuesday, January 21st. This represents a $2.00 annualized dividend and a dividend yield of 2.21%. Colgate-Palmolive’s dividend payout ratio is presently 57.31%.

Analysts Set New Price Targets

CL has been the topic of several research reports. JPMorgan Chase & Co. lifted their price objective on shares of Colgate-Palmolive from $113.00 to $114.00 and gave the company an “overweight” rating in a report on Friday, October 11th. Wells Fargo & Company decreased their price objective on Colgate-Palmolive from $100.00 to $92.00 and set an “underweight” rating for the company in a research note on Monday, October 28th. StockNews.com upgraded shares of Colgate-Palmolive from a “hold” rating to a “buy” rating in a report on Wednesday. Piper Sandler assumed coverage on shares of Colgate-Palmolive in a report on Tuesday, September 24th. They issued an “overweight” rating and a $121.00 price target on the stock. Finally, Stifel Nicolaus lowered shares of Colgate-Palmolive from a “buy” rating to a “hold” rating and reduced their price objective for the stock from $105.00 to $101.00 in a research note on Monday, October 28th. One equities research analyst has rated the stock with a sell rating, nine have given a hold rating and thirteen have issued a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $105.11.

Insider Activity at Colgate-Palmolive

In other Colgate-Palmolive news, CFO Stanley J. Sutula III sold 45,410 shares of the company’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 transaction, the chief financial officer now owns 36,726 shares of the company’s stock, valued at $3,456,283.86. This represents a 55.29 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. 0.34% of the stock is currently owned by insiders.

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.