Cadence Bank Sells 125 Shares of Colgate-Palmolive (NYSE:CL)

Cadence Bank trimmed its holdings in Colgate-Palmolive (NYSE:CL) by 2.2% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 5,570 shares of the company’s stock after selling 125 shares during the period. Cadence Bank’s holdings in Colgate-Palmolive were worth $578,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also recently made changes to their positions in CL. Avestar Capital LLC boosted its stake in Colgate-Palmolive by 9.6% during the 3rd quarter. Avestar Capital LLC now owns 4,493 shares of the company’s stock valued at $466,000 after purchasing an additional 394 shares during the last quarter. Brooklyn Investment Group lifted its holdings in shares of Colgate-Palmolive by 8.5% in the third quarter. Brooklyn Investment Group now owns 5,159 shares of the company’s stock valued at $536,000 after purchasing an additional 406 shares in the last quarter. FMR LLC boosted its position in shares of Colgate-Palmolive by 65.6% during the third quarter. FMR LLC now owns 6,749,275 shares of the company’s stock valued at $700,642,000 after buying an additional 2,674,807 shares during the last quarter. The Manufacturers Life Insurance Company grew its holdings in Colgate-Palmolive by 36.9% during the third quarter. The Manufacturers Life Insurance Company now owns 954,570 shares of the company’s stock worth $99,094,000 after buying an additional 257,361 shares in the last quarter. Finally, Horizon Kinetics Asset Management LLC raised its position in Colgate-Palmolive by 4.2% in the 3rd quarter. Horizon Kinetics Asset Management LLC now owns 3,102 shares of the company’s stock valued at $322,000 after buying an additional 124 shares during the last quarter. 80.41% of the stock is currently owned by institutional investors and hedge funds.

Colgate-Palmolive Stock Up 0.2 %

Colgate-Palmolive stock opened at $96.75 on Thursday. The firm has a 50 day simple moving average of $97.61 and a 200 day simple moving average of $98.58. 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 1-year low of $75.50 and a 1-year high of $109.30. The firm has a market capitalization of $79.05 billion, a price-to-earnings ratio of 27.72, a P/E/G ratio of 3.40 and a beta of 0.42.

Colgate-Palmolive Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, November 15th. Stockholders of record on Friday, October 18th were given a $0.50 dividend. This represents a $2.00 annualized dividend and a dividend yield of 2.07%. The ex-dividend date was Friday, October 18th. Colgate-Palmolive’s dividend payout ratio (DPR) is presently 57.31%.

Insider Activity at Colgate-Palmolive

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

Wall Street Analyst Weigh In

CL has been the topic of a number of analyst reports. Piper Sandler began coverage on shares of Colgate-Palmolive in a report on Tuesday, September 24th. They set an “overweight” rating and a $121.00 price objective on the stock. TD Cowen cut their price target on shares of Colgate-Palmolive from $115.00 to $110.00 and set a “buy” rating on the stock in a report on Monday, October 28th. Wells Fargo & Company decreased their price objective on shares of Colgate-Palmolive from $100.00 to $92.00 and set an “underweight” rating for the company in a research note on Monday, October 28th. Redburn Atlantic upgraded Colgate-Palmolive to a “hold” rating in a research note on Thursday, August 1st. Finally, StockNews.com raised Colgate-Palmolive from a “hold” rating to a “buy” rating in a research report on Monday. One equities research analyst has rated the stock with a sell rating, nine have assigned a hold rating and thirteen have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Colgate-Palmolive currently has an average rating of “Moderate Buy” and an average target price of $105.11.

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.