Sumitomo Life Insurance Co. Increases Stock Position in Colgate-Palmolive (NYSE:CL)

Sumitomo Life Insurance Co. increased its stake in shares of Colgate-Palmolive (NYSE:CL) by 34.2% in the 4th quarter, Holdings Channel reports. The firm owned 13,800 shares of the company’s stock after buying an additional 3,517 shares during the period. Sumitomo Life Insurance Co.’s holdings in Colgate-Palmolive were worth $1,255,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Peak Financial Advisors LLC bought a new position in shares of Colgate-Palmolive during the 4th quarter valued at $1,315,000. Gordian Advisors LLC bought a new stake in shares of Colgate-Palmolive during the 3rd quarter valued at about $602,000. Carrera Capital Advisors increased its position in shares of Colgate-Palmolive by 23.1% during the 3rd quarter. Carrera Capital Advisors now owns 39,170 shares of the company’s stock valued at $4,066,000 after purchasing an additional 7,353 shares during the last quarter. Fiduciary Alliance LLC bought a new position in shares of Colgate-Palmolive in the 4th quarter worth approximately $4,066,000. Finally, Vontobel Holding Ltd. boosted its holdings in shares of Colgate-Palmolive by 224.6% in the third quarter. Vontobel Holding Ltd. now owns 795,938 shares of the company’s stock worth $82,626,000 after buying an additional 550,750 shares during the last quarter. Institutional investors own 80.41% of the company’s stock.

Insider Buying and Selling at Colgate-Palmolive

In other Colgate-Palmolive news, CFO Stanley J. Sutula III sold 45,410 shares of the stock in a transaction on 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 sale, the chief financial officer now owns 36,726 shares of the company’s stock, valued at approximately $3,456,283.86. This trade represents a 55.29 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 0.34% of the company’s stock.

Colgate-Palmolive Trading Down 0.2 %

Shares of CL opened at $89.65 on Thursday. 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. The company has a debt-to-equity ratio of 9.46, a current ratio of 1.04 and a quick ratio of 0.68. Colgate-Palmolive has a 1-year low of $82.68 and a 1-year high of $109.30. The company has a 50-day moving average of $91.67 and a 200 day moving average of $97.34.

Colgate-Palmolive Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, February 14th. Shareholders of record on Tuesday, January 21st will be issued a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a yield of 2.23%. The ex-dividend date is Tuesday, January 21st. Colgate-Palmolive’s payout ratio is 57.31%.

Analyst Upgrades and Downgrades

Several research firms have weighed in on CL. UBS Group decreased 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. JPMorgan Chase & Co. lowered their target price on Colgate-Palmolive from $109.00 to $103.00 and set an “overweight” rating on the stock in a research report on Thursday, January 16th. StockNews.com cut Colgate-Palmolive from a “buy” rating to a “hold” rating in a research report on Thursday, January 9th. Barclays lowered their price objective on Colgate-Palmolive from $96.00 to $83.00 and set an “equal weight” rating on the stock in a research report on Friday, January 17th. Finally, Piper Sandler reduced their target price on shares of Colgate-Palmolive from $121.00 to $112.00 and set an “overweight” rating for the company in a report on Monday, January 6th. One analyst has rated the stock with a sell rating, ten have given a hold rating and eleven have given a buy rating to the company. According to MarketBeat.com, Colgate-Palmolive currently has an average rating of “Hold” and an average price target of $102.00.

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.