St. Louis Trust Co Trims Stake in Colgate-Palmolive (NYSE:CL)

St. Louis Trust Co lessened its stake in Colgate-Palmolive (NYSE:CL) by 31.3% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 5,100 shares of the company’s stock after selling 2,319 shares during the period. St. Louis Trust Co’s holdings in Colgate-Palmolive were worth $529,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also made changes to their positions in the company. Gordian Advisors LLC acquired a new position in Colgate-Palmolive during the third quarter worth $602,000. Vontobel Holding Ltd. raised its position in shares of Colgate-Palmolive by 224.6% during the 3rd quarter. Vontobel Holding Ltd. now owns 795,938 shares of the company’s stock worth $82,626,000 after purchasing an additional 550,750 shares during the last quarter. Carrera Capital Advisors lifted its stake in Colgate-Palmolive by 23.1% in the 3rd quarter. Carrera Capital Advisors now owns 39,170 shares of the company’s stock valued at $4,066,000 after buying an additional 7,353 shares in the last quarter. PGGM Investments boosted its holdings in Colgate-Palmolive by 171.8% in the 2nd quarter. PGGM Investments now owns 157,608 shares of the company’s stock worth $15,294,000 after buying an additional 99,624 shares during the last quarter. Finally, QRG Capital Management Inc. increased its stake in Colgate-Palmolive by 11.2% during the 2nd quarter. QRG Capital Management Inc. now owns 57,275 shares of the company’s stock worth $5,558,000 after buying an additional 5,751 shares in the last quarter. Institutional investors and hedge funds own 80.41% of the company’s stock.

Analyst Ratings Changes

Several research analysts recently commented on the company. Stifel Nicolaus downgraded Colgate-Palmolive from a “buy” rating to a “hold” rating and reduced their price objective for the company from $105.00 to $101.00 in a research note on Monday, October 28th. Deutsche Bank Aktiengesellschaft cut shares of Colgate-Palmolive from a “buy” rating to a “hold” rating and increased their target price for the company from $107.00 to $109.00 in a research report on Monday, September 9th. Piper Sandler started coverage on shares of Colgate-Palmolive in a research report on Tuesday, September 24th. They set an “overweight” rating and a $121.00 price target on the stock. JPMorgan Chase & Co. increased their price objective on shares of Colgate-Palmolive from $113.00 to $114.00 and gave the company an “overweight” rating in a report on Friday, October 11th. Finally, HSBC restated a “hold” rating on shares of Colgate-Palmolive in a report on Friday, July 26th. One equities research 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, Colgate-Palmolive currently has an average rating of “Moderate Buy” and a consensus price target of $105.11.

Insider Buying and Selling

In other Colgate-Palmolive news, Director Martina Hundmejean sold 2,313 shares of the company’s stock in a transaction that occurred on Friday, August 23rd. The stock was sold at an average price of $103.86, for a total transaction of $240,228.18. Following the sale, the director now owns 11,755 shares in the company, valued at $1,220,874.30. This represents a 16.44 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Also, CFO Stanley J. Sutula III sold 45,410 shares of Colgate-Palmolive stock in a transaction that occurred on 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 transaction, the chief financial officer now owns 36,726 shares of the company’s stock, valued at approximately $3,456,283.86. The trade was a 55.29 % decrease in their position. The disclosure for this sale can be found here. Insiders own 0.34% of the company’s stock.

Colgate-Palmolive Stock Performance

Colgate-Palmolive stock opened at $94.65 on Tuesday. The company has a debt-to-equity ratio of 9.46, a current ratio of 1.04 and a quick ratio of 0.68. The firm’s fifty day moving average price is $99.06 and its 200 day moving average price is $98.55. The company has a market capitalization of $77.33 billion, a price-to-earnings ratio of 27.12, a price-to-earnings-growth ratio of 3.34 and a beta of 0.42. Colgate-Palmolive has a 12-month low of $75.17 and a 12-month high of $109.30.

Colgate-Palmolive Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, November 15th. Stockholders of record on Friday, October 18th were given a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a dividend yield of 2.11%. The ex-dividend date of this dividend was Friday, October 18th. Colgate-Palmolive’s payout ratio is currently 57.31%.

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.