Synovus Financial Corp Has $3.27 Million Position in Colgate-Palmolive (NYSE:CL)

Synovus Financial Corp cut its position in shares of Colgate-Palmolive (NYSE:CL) by 20.3% during the third quarter, Holdings Channel reports. The institutional investor owned 31,467 shares of the company’s stock after selling 8,039 shares during the quarter. Synovus Financial Corp’s holdings in Colgate-Palmolive were worth $3,267,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Continuum Advisory LLC raised its stake in shares of Colgate-Palmolive by 46.5% in the 2nd quarter. Continuum Advisory LLC now owns 394 shares of the company’s stock valued at $38,000 after buying an additional 125 shares in the last quarter. Reston Wealth Management LLC acquired a new position in Colgate-Palmolive in the third quarter worth about $42,000. Capital Performance Advisors LLP bought a new position in Colgate-Palmolive during the third quarter worth about $53,000. Prospera Private Wealth LLC acquired a new stake in Colgate-Palmolive during the third quarter valued at approximately $64,000. Finally, Gradient Investments LLC grew its stake in shares of Colgate-Palmolive by 150.4% in the 2nd quarter. Gradient Investments LLC now owns 666 shares of the company’s stock valued at $65,000 after purchasing an additional 400 shares during the period. 80.41% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Colgate-Palmolive

In other news, CFO Stanley J. Sutula III sold 45,410 shares of the company’s stock in a transaction dated 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 of the company’s stock, valued at $3,456,283.86. This represents a 55.29 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Insiders own 0.34% of the company’s stock.

Colgate-Palmolive Stock Performance

Colgate-Palmolive stock opened at $93.44 on Friday. Colgate-Palmolive has a 1 year low of $75.50 and a 1 year high of $109.30. The company’s 50-day moving average is $95.73 and its two-hundred day moving average is $98.63. 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 company has a market cap of $76.34 billion, a PE ratio of 26.77, a PEG ratio of 3.31 and a beta of 0.43.

Colgate-Palmolive Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, February 14th. Shareholders of record on Tuesday, January 21st will be paid a $0.50 dividend. The ex-dividend date is Tuesday, January 21st. This represents a $2.00 dividend on an annualized basis and a yield of 2.14%. Colgate-Palmolive’s payout ratio is presently 57.31%.

Wall Street Analyst Weigh In

Several analysts recently commented on CL shares. TD Cowen decreased their price target on Colgate-Palmolive from $115.00 to $110.00 and set a “buy” rating on the stock in a research note on Monday, October 28th. Piper Sandler started coverage on shares of Colgate-Palmolive in a research note on Tuesday, September 24th. They issued an “overweight” rating and a $121.00 target price on the stock. Stifel Nicolaus cut shares of Colgate-Palmolive from a “buy” rating to a “hold” rating and dropped their target price for the stock from $105.00 to $101.00 in a research report on Monday, October 28th. StockNews.com upgraded shares of Colgate-Palmolive from a “hold” rating to a “buy” rating in a research report on Monday, November 25th. Finally, Wells Fargo & Company dropped their price objective on shares of Colgate-Palmolive from $100.00 to $92.00 and set an “underweight” rating for the company in a report on Monday, October 28th. One analyst has rated the stock with a sell rating, nine have given a hold rating and thirteen have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus 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.