Wesbanco Bank Inc. Buys 250 Shares of Colgate-Palmolive (NYSE:CL)

Wesbanco Bank Inc. lifted its position in shares of Colgate-Palmolive (NYSE:CL) by 1.7% during the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 15,066 shares of the company’s stock after purchasing an additional 250 shares during the quarter. Wesbanco Bank Inc.’s holdings in Colgate-Palmolive were worth $1,370,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently made changes to their positions in CL. Reston Wealth Management LLC bought a new stake in shares of Colgate-Palmolive in the 3rd quarter valued at about $42,000. Capital Performance Advisors LLP bought a new stake in Colgate-Palmolive in the third quarter valued at approximately $53,000. Prospera Private Wealth LLC purchased a new stake in shares of Colgate-Palmolive during the third quarter valued at approximately $64,000. True Wealth Design LLC grew its holdings in shares of Colgate-Palmolive by 1,460.9% in the third quarter. True Wealth Design LLC now owns 718 shares of the company’s stock worth $75,000 after purchasing an additional 672 shares during the last quarter. Finally, Continuum Advisory LLC increased 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 buying an additional 368 shares during the period. 80.41% of the stock is currently owned by institutional investors.

Colgate-Palmolive Stock Up 0.5 %

Shares of NYSE:CL opened at $87.98 on Friday. The company has a current ratio of 1.04, a quick ratio of 0.68 and a debt-to-equity ratio of 9.46. The stock has a fifty day simple moving average of $92.00 and a two-hundred day simple moving average of $97.58. Colgate-Palmolive has a 12-month low of $80.03 and a 12-month high of $109.30. The stock has a market capitalization of $71.88 billion, a price-to-earnings ratio of 25.21, a PEG ratio of 3.62 and a beta of 0.44.

Colgate-Palmolive Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, February 14th. Stockholders of record on Tuesday, January 21st will be given a $0.50 dividend. This represents a $2.00 annualized dividend and a dividend yield of 2.27%. The ex-dividend date of this dividend is Tuesday, January 21st. Colgate-Palmolive’s dividend payout ratio is presently 57.31%.

Insider Buying and Selling

In other Colgate-Palmolive news, CFO Stanley J. Sutula III sold 45,410 shares of the stock in a transaction on Tuesday, November 5th. The stock was 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 directly 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 sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 0.34% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

Several equities research analysts have weighed in on the stock. TD Cowen dropped their price target on shares of Colgate-Palmolive from $110.00 to $100.00 and set a “buy” rating for the company in a research report on Wednesday, January 8th. Barclays reduced their price target on Colgate-Palmolive from $96.00 to $83.00 and set an “equal weight” rating on the stock in a report on Friday, January 17th. Piper Sandler dropped their price objective on Colgate-Palmolive from $121.00 to $112.00 and set an “overweight” rating for the company in a report on Monday, January 6th. JPMorgan Chase & Co. reduced their target price on Colgate-Palmolive from $109.00 to $103.00 and set an “overweight” rating on the stock in a research note on Thursday, January 16th. Finally, Wells Fargo & Company dropped their price target on Colgate-Palmolive from $92.00 to $83.00 and set an “underweight” rating for the company in a research note on Tuesday, January 7th. One equities research analyst has rated the stock with a sell rating, ten have assigned a hold rating and twelve have assigned a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price 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.