Vestcor Inc Sells 43,690 Shares of Colgate-Palmolive (NYSE:CL)

Vestcor Inc decreased its holdings in shares of Colgate-Palmolive (NYSE:CL) by 13.2% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 286,322 shares of the company’s stock after selling 43,690 shares during the quarter. Colgate-Palmolive makes up 0.9% of Vestcor Inc’s holdings, making the stock its 16th biggest position. Vestcor Inc’s holdings in Colgate-Palmolive were worth $29,723,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Continuum Advisory LLC increased its stake in shares of Colgate-Palmolive by 46.5% during the second quarter. Continuum Advisory LLC now owns 394 shares of the company’s stock worth $38,000 after purchasing an additional 125 shares during the period. Reston Wealth Management LLC acquired a new position in Colgate-Palmolive in the 3rd quarter valued at $42,000. Capital Performance Advisors LLP bought a new position in Colgate-Palmolive during the 3rd quarter worth $53,000. Prospera Private Wealth LLC bought a new stake in shares of Colgate-Palmolive in the third quarter valued at about $64,000. Finally, Gradient Investments LLC boosted its position in shares of Colgate-Palmolive by 150.4% in the second quarter. Gradient Investments LLC now owns 666 shares of the company’s stock valued at $65,000 after acquiring an additional 400 shares during the period. 80.41% of the stock is owned by institutional investors.

Insider Activity

In related news, CFO Stanley J. Sutula III sold 45,410 shares of the business’s stock in a transaction 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 sale, 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 ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. 0.37% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

CL has been the subject of several analyst reports. Stifel Nicolaus cut shares of Colgate-Palmolive from a “buy” rating to a “hold” rating and dropped their price objective for the stock from $105.00 to $101.00 in a research note on Monday, October 28th. Piper Sandler initiated coverage on shares of Colgate-Palmolive in a report on Tuesday, September 24th. They set an “overweight” rating and a $121.00 target price on the stock. Deutsche Bank Aktiengesellschaft cut Colgate-Palmolive from a “buy” rating to a “hold” rating and boosted their price target for the company from $107.00 to $109.00 in a research note on Monday, September 9th. JPMorgan Chase & Co. raised their price objective on Colgate-Palmolive from $113.00 to $114.00 and gave the stock an “overweight” rating in a research note on Friday, October 11th. Finally, TD Cowen dropped their price objective on Colgate-Palmolive from $115.00 to $110.00 and set a “buy” rating for the company in a report on Monday, October 28th. One 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. According to MarketBeat.com, Colgate-Palmolive has a consensus rating of “Moderate Buy” and an average target price of $105.11.

Colgate-Palmolive Trading Down 1.4 %

Shares of CL stock opened at $92.95 on Tuesday. Colgate-Palmolive has a twelve month low of $75.50 and a twelve month high of $109.30. The stock’s fifty day simple moving average is $96.33 and its 200 day simple moving average is $98.65. The company has a quick ratio of 0.68, a current ratio of 1.04 and a debt-to-equity ratio of 9.46. The firm has a market capitalization of $75.94 billion, a P/E ratio of 26.63, a P/E/G ratio of 3.36 and a beta of 0.43.

Colgate-Palmolive Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, November 15th. Stockholders of record on Friday, October 18th were issued a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a dividend yield of 2.15%. The ex-dividend date of this dividend was Friday, October 18th. Colgate-Palmolive’s dividend payout ratio (DPR) 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.