Pacer Advisors Inc. Decreases Holdings in Colgate-Palmolive (NYSE:CL)

Pacer Advisors Inc. reduced its position in Colgate-Palmolive (NYSE:CL) by 19.3% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 89,850 shares of the company’s stock after selling 21,422 shares during the period. Pacer Advisors Inc.’s holdings in Colgate-Palmolive were worth $8,168,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently bought and sold shares of CL. Algert Global LLC lifted its holdings in shares of Colgate-Palmolive by 14.4% in the second quarter. Algert Global LLC now owns 5,131 shares of the company’s stock valued at $498,000 after purchasing an additional 647 shares in the last quarter. NewEdge Advisors LLC raised its position in shares of Colgate-Palmolive by 11.7% during the 2nd quarter. NewEdge Advisors LLC now owns 51,375 shares of the company’s stock worth $4,985,000 after purchasing an additional 5,363 shares during the last quarter. B. Riley Wealth Advisors Inc. lifted its stake in Colgate-Palmolive by 7.3% in the 2nd quarter. B. Riley Wealth Advisors Inc. now owns 17,851 shares of the company’s stock valued at $1,732,000 after buying an additional 1,212 shares in the last quarter. SPC Financial Inc. acquired a new stake in Colgate-Palmolive during the 2nd quarter valued at $227,000. Finally, 3Chopt Investment Partners LLC purchased a new position in Colgate-Palmolive during the second quarter worth $400,000. 80.41% of the stock is owned by institutional investors and hedge funds.

Colgate-Palmolive Stock Performance

NYSE:CL opened at $89.65 on Thursday. The firm’s fifty day simple moving average is $91.67 and its 200 day simple moving average is $97.34. The company has a current ratio of 1.04, a quick ratio of 0.68 and a debt-to-equity ratio of 9.46. Colgate-Palmolive has a twelve month low of $82.68 and a twelve month high of $109.30. The firm has a market capitalization of $73.24 billion, a price-to-earnings ratio of 25.69, a PEG ratio of 3.59 and a beta of 0.44.

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 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 2.23%. Colgate-Palmolive’s payout ratio is currently 57.31%.

Insider Buying and Selling

In other news, CFO Stanley J. Sutula III sold 45,410 shares of the firm’s stock in a transaction dated 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 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 legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.34% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

Several analysts have recently issued reports on the company. Piper Sandler reduced their price objective 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. StockNews.com lowered shares of Colgate-Palmolive from a “buy” rating to a “hold” rating in a report on Thursday, January 9th. Barclays lowered their price target on shares of Colgate-Palmolive from $96.00 to $83.00 and set an “equal weight” rating for the company in a report on Friday, January 17th. JPMorgan Chase & Co. reduced their price objective on shares of Colgate-Palmolive from $109.00 to $103.00 and set an “overweight” rating on the stock in a research note on Thursday, January 16th. Finally, Royal Bank of Canada reaffirmed a “sector perform” rating and issued a $101.00 target price on shares of Colgate-Palmolive in a research note on Wednesday. One investment analyst has rated the stock with a sell rating, ten have assigned a hold rating and eleven have given a buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Hold” and an average price target of $102.00.

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.