Goelzer Investment Management Inc. Reduces Stock Position in Colgate-Palmolive (NYSE:CL)

Goelzer Investment Management Inc. trimmed its holdings in shares of Colgate-Palmolive (NYSE:CL) by 28.3% during the 4th quarter, Holdings Channel reports. The institutional investor owned 2,620 shares of the company’s stock after selling 1,032 shares during the quarter. Goelzer Investment Management Inc.’s holdings in Colgate-Palmolive were worth $238,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. FMR LLC lifted its stake in shares of Colgate-Palmolive by 65.6% in the 3rd quarter. FMR LLC now owns 6,749,275 shares of the company’s stock valued at $700,642,000 after purchasing an additional 2,674,807 shares during the last quarter. Barclays PLC raised its holdings in Colgate-Palmolive by 38.7% during the 3rd quarter. Barclays PLC now owns 7,644,189 shares of the company’s stock valued at $793,542,000 after buying an additional 2,132,747 shares during the period. State Street Corp lifted its position in Colgate-Palmolive by 3.8% in the third quarter. State Street Corp now owns 48,436,276 shares of the company’s stock worth $5,028,170,000 after buying an additional 1,784,411 shares during the last quarter. Nordea Investment Management AB increased its position in Colgate-Palmolive by 32.5% during the fourth quarter. Nordea Investment Management AB now owns 5,091,683 shares of the company’s stock valued at $462,121,000 after acquiring an additional 1,247,731 shares during the last quarter. Finally, Jacobs Levy Equity Management Inc. increased its position in Colgate-Palmolive by 864.1% during the third quarter. Jacobs Levy Equity Management Inc. now owns 777,854 shares of the company’s stock valued at $80,749,000 after acquiring an additional 697,168 shares during the last quarter. Institutional investors own 80.41% of the company’s stock.

Colgate-Palmolive Trading Down 0.0 %

Shares of NYSE:CL opened at $87.88 on Friday. The company has a market capitalization of $71.79 billion, a PE ratio of 25.18, a P/E/G ratio of 3.59 and a beta of 0.44. 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 12-month low of $80.03 and a 12-month high of $109.30. The business’s fifty day simple moving average is $91.81 and its 200-day simple moving average is $97.44.

Colgate-Palmolive Dividend Announcement

The company 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 $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 2.28%. Colgate-Palmolive’s dividend payout ratio is presently 57.31%.

Insiders Place Their Bets

In other news, CFO Stanley J. Sutula III sold 45,410 shares of Colgate-Palmolive 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 transaction, the chief financial officer now owns 36,726 shares of the company’s stock, valued at $3,456,283.86. The trade was a 55.29 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 0.34% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

A number of research firms recently commented on CL. Wells Fargo & Company dropped their price target on shares of Colgate-Palmolive from $92.00 to $83.00 and set an “underweight” rating for the company in a research note on Tuesday, January 7th. StockNews.com cut Colgate-Palmolive from a “buy” rating to a “hold” rating in a research note on Thursday, January 9th. Piper Sandler reduced their price target on Colgate-Palmolive from $121.00 to $112.00 and set an “overweight” rating on the stock in a report on Monday, January 6th. UBS Group dropped their price objective on Colgate-Palmolive from $112.00 to $104.00 and set a “buy” rating for the company in a report on Thursday, January 16th. Finally, Barclays reduced their target price on Colgate-Palmolive from $96.00 to $83.00 and set an “equal weight” rating on the stock in a research note on Friday, January 17th. One research analyst has rated the stock with a sell rating, ten have assigned a hold rating and twelve have given a buy rating to the company’s stock. Based on data from MarketBeat, Colgate-Palmolive currently has an average rating of “Hold” and an average price target of $101.11.

Colgate-Palmolive Company 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.