Kentucky Retirement Systems Insurance Trust Fund Sells 2,271 Shares of Colgate-Palmolive (NYSE:CL)

Kentucky Retirement Systems Insurance Trust Fund reduced its stake in shares of Colgate-Palmolive (NYSE:CL) by 8.6% in the third quarter, HoldingsChannel.com reports. The firm owned 24,192 shares of the company’s stock after selling 2,271 shares during the period. Kentucky Retirement Systems Insurance Trust Fund’s holdings in Colgate-Palmolive were worth $2,511,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. M&G Plc bought a new stake in Colgate-Palmolive during the first quarter worth $3,812,000. Gordian Advisors LLC bought a new stake in shares of Colgate-Palmolive in the 3rd quarter worth $602,000. Vontobel Holding Ltd. raised 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 valued at $82,626,000 after purchasing an additional 550,750 shares during the last quarter. PGGM Investments lifted its position in shares of Colgate-Palmolive by 171.8% during the second quarter. PGGM Investments now owns 157,608 shares of the company’s stock valued at $15,294,000 after purchasing an additional 99,624 shares in the last quarter. Finally, Carrera Capital Advisors boosted its holdings in Colgate-Palmolive by 23.1% during the third quarter. Carrera Capital Advisors now owns 39,170 shares of the company’s stock worth $4,066,000 after purchasing an additional 7,353 shares during the last quarter. 80.41% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other Colgate-Palmolive news, Director Martina Hundmejean sold 2,313 shares of the business’s stock in a transaction that occurred on Friday, August 23rd. The shares were sold at an average price of $103.86, for a total value of $240,228.18. Following the completion of the transaction, the director now owns 11,755 shares of the company’s stock, valued at $1,220,874.30. The trade was a 16.44 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Stanley J. Sutula III sold 45,410 shares of the firm’s stock in a transaction on Tuesday, November 5th. The shares were 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 in the company, valued at approximately $3,456,283.86. This trade represents a 55.29 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 0.34% of the company’s stock.

Colgate-Palmolive Stock Up 2.3 %

CL opened at $93.56 on Friday. The firm has a market capitalization of $76.44 billion, a P/E ratio of 26.81, a price-to-earnings-growth ratio of 3.25 and a beta of 0.42. Colgate-Palmolive has a one year low of $75.17 and a one year high of $109.30. The company has a fifty day moving average price of $99.31 and a 200-day moving average price of $98.49. 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 Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, November 15th. Investors of record on Friday, October 18th were given a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a yield of 2.14%. The ex-dividend date was Friday, October 18th. Colgate-Palmolive’s payout ratio is 57.31%.

Wall Street Analyst Weigh In

Several equities research analysts have commented on CL shares. Stifel Nicolaus lowered shares of Colgate-Palmolive from a “buy” rating to a “hold” rating and decreased their price objective for the company from $105.00 to $101.00 in a research note on Monday, October 28th. Wells Fargo & Company decreased their price target on Colgate-Palmolive from $100.00 to $92.00 and set an “underweight” rating for the company in a research report on Monday, October 28th. UBS Group upped their price objective on Colgate-Palmolive from $119.00 to $122.00 and gave the company a “buy” rating in a research note on Wednesday, September 4th. Sanford C. Bernstein lifted their target price on Colgate-Palmolive from $100.00 to $103.00 and gave the stock a “market perform” rating in a research note on Tuesday, July 30th. Finally, Hsbc Global Res lowered shares of Colgate-Palmolive from a “strong-buy” rating to a “hold” rating in a research report on Friday, July 26th. One investment analyst has rated the stock with a sell rating, nine have assigned a hold rating and thirteen have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target 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.