Sound Income Strategies LLC Decreases Stock Holdings in Colgate-Palmolive (NYSE:CL)

Sound Income Strategies LLC reduced its position in shares of Colgate-Palmolive (NYSE:CL) by 25.7% in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 4,432 shares of the company’s stock after selling 1,532 shares during the quarter. Sound Income Strategies LLC’s holdings in Colgate-Palmolive were worth $403,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also added to or reduced their stakes in CL. Peak Financial Advisors LLC purchased a new stake in Colgate-Palmolive in the fourth quarter worth $1,315,000. Gordian Advisors LLC purchased a new stake in shares of Colgate-Palmolive in the 3rd quarter worth about $602,000. Carrera Capital Advisors boosted its stake in shares of Colgate-Palmolive by 23.1% during the 3rd quarter. Carrera Capital Advisors now owns 39,170 shares of the company’s stock valued at $4,066,000 after purchasing an additional 7,353 shares in the last quarter. Fiduciary Alliance LLC purchased a new position in shares of Colgate-Palmolive during the fourth quarter valued at about $4,066,000. Finally, Vontobel Holding Ltd. raised its stake in Colgate-Palmolive by 224.6% in the third quarter. Vontobel Holding Ltd. now owns 795,938 shares of the company’s stock worth $82,626,000 after buying an additional 550,750 shares in the last quarter. Hedge funds and other institutional investors own 80.41% of the company’s stock.

Colgate-Palmolive Stock Down 0.0 %

Colgate-Palmolive stock opened at $87.88 on Friday. Colgate-Palmolive has a 12 month low of $80.03 and a 12 month high of $109.30. The stock has a fifty day simple moving average of $91.93 and a two-hundred day simple moving average of $97.51. 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 firm has a market cap of $71.79 billion, a price-to-earnings ratio of 25.18, a PEG ratio of 3.59 and a beta of 0.44.

Colgate-Palmolive Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, February 14th. Investors 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 annualized dividend and a yield of 2.28%. Colgate-Palmolive’s payout ratio is 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 completion of the sale, 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 sale was disclosed in a legal filing with the SEC, which is available through this link. 0.34% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

Several analysts have weighed in on CL shares. Piper Sandler cut their price objective on Colgate-Palmolive from $121.00 to $112.00 and set an “overweight” rating on the stock in a research report on Monday, January 6th. Stifel Nicolaus dropped their price target on Colgate-Palmolive from $101.00 to $95.00 and set a “hold” rating on the stock in a research report on Friday, January 17th. JPMorgan Chase & Co. decreased their price objective on Colgate-Palmolive from $109.00 to $103.00 and set an “overweight” rating for the company in a report on Thursday, January 16th. UBS Group dropped their target price on shares of Colgate-Palmolive from $112.00 to $104.00 and set a “buy” rating on the stock in a report on Thursday, January 16th. Finally, Wells Fargo & Company decreased 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. One analyst has rated the stock with a sell rating, ten have given a hold rating and twelve have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Colgate-Palmolive presently has an average rating of “Hold” and an average 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.