Lynch & Associates IN Reduces Position in Colgate-Palmolive (NYSE:CL)

Lynch & Associates IN lowered its holdings in Colgate-Palmolive (NYSE:CL) by 2.9% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund owned 25,926 shares of the company’s stock after selling 781 shares during the period. Lynch & Associates IN’s holdings in Colgate-Palmolive were worth $2,357,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently bought and sold shares of the business. Reston Wealth Management LLC bought a new position in Colgate-Palmolive in the 3rd quarter worth about $42,000. Capital Performance Advisors LLP bought a new position in Colgate-Palmolive in the 3rd quarter worth approximately $53,000. Prospera Private Wealth LLC acquired a new stake in Colgate-Palmolive in the 3rd quarter valued at approximately $64,000. True Wealth Design LLC raised its stake in Colgate-Palmolive by 1,460.9% during the 3rd quarter. True Wealth Design LLC now owns 718 shares of the company’s stock valued at $75,000 after acquiring an additional 672 shares in the last quarter. Finally, Continuum Advisory LLC grew its stake in shares of Colgate-Palmolive by 93.4% in the third quarter. Continuum Advisory LLC now owns 762 shares of the company’s stock worth $79,000 after purchasing an additional 368 shares in the last quarter. Institutional investors and hedge funds own 80.41% of the company’s stock.

Analyst Upgrades and Downgrades

CL has been the topic of a number of recent analyst reports. Piper Sandler dropped their price target on shares of Colgate-Palmolive from $121.00 to $112.00 and set an “overweight” rating on the stock in a research report on Monday. Wells Fargo & Company cut their target price on Colgate-Palmolive from $92.00 to $83.00 and set an “underweight” rating for the company in a research report on Tuesday. TD Cowen lowered their price target on Colgate-Palmolive from $110.00 to $100.00 and set a “buy” rating on the stock in a research report on Wednesday. JPMorgan Chase & Co. upped their price objective on Colgate-Palmolive from $113.00 to $114.00 and gave the company an “overweight” rating in a report on Friday, October 11th. Finally, StockNews.com lowered Colgate-Palmolive from a “buy” rating to a “hold” rating in a report on Thursday. One investment analyst has rated the stock with a sell rating, ten have issued a hold rating and twelve have issued a buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $103.63.

Colgate-Palmolive Stock Performance

CL traded down $1.08 on Friday, hitting $86.38. 5,934,379 shares of the stock traded hands, compared to its average volume of 4,611,294. The business has a fifty day moving average price of $92.76 and a two-hundred day moving average price of $98.15. 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 52 week low of $79.69 and a 52 week high of $109.30. The firm has a market capitalization of $70.57 billion, a PE ratio of 24.75, a P/E/G ratio of 3.31 and a beta of 0.44.

Colgate-Palmolive Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, February 14th. Investors of record on Tuesday, January 21st will be given a $0.50 dividend. The ex-dividend date is Tuesday, January 21st. This represents a $2.00 annualized dividend and a yield of 2.32%. Colgate-Palmolive’s dividend payout ratio (DPR) is currently 57.31%.

Insiders Place Their Bets

In other Colgate-Palmolive news, CFO Stanley J. Sutula III sold 45,410 shares of the business’s stock in a transaction dated 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 transaction, the chief financial officer now directly owns 36,726 shares in the company, valued at $3,456,283.86. The trade was a 55.29 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Corporate insiders own 0.34% of the company’s stock.

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.