Mattern Wealth Management LLC Cuts Stake in Colgate-Palmolive (NYSE:CL)

Mattern Wealth Management LLC cut its position in Colgate-Palmolive (NYSE:CL) by 2.7% in the fourth quarter, HoldingsChannel.com reports. The firm owned 14,832 shares of the company’s stock after selling 416 shares during the period. Mattern Wealth Management LLC’s holdings in Colgate-Palmolive were worth $1,348,000 as of its most recent SEC filing.

Other hedge funds have also modified their holdings of the company. State Street Corp increased its holdings in shares of Colgate-Palmolive by 3.8% during the third quarter. State Street Corp now owns 48,436,276 shares of the company’s stock valued at $5,028,170,000 after acquiring an additional 1,784,411 shares in the last quarter. Geode Capital Management LLC boosted its holdings in Colgate-Palmolive by 2.8% in the third quarter. Geode Capital Management LLC now owns 20,193,331 shares of the company’s stock valued at $2,095,325,000 after purchasing an additional 552,949 shares during the last quarter. Massachusetts Financial Services Co. MA lifted its holdings in shares of Colgate-Palmolive by 6.2% in the 3rd quarter. Massachusetts Financial Services Co. MA now owns 9,526,990 shares of the company’s stock valued at $988,997,000 after buying an additional 557,492 shares during the period. Barclays PLC grew its holdings in Colgate-Palmolive by 38.7% during the third quarter. Barclays PLC now owns 7,644,189 shares of the company’s stock worth $793,542,000 after acquiring an additional 2,132,747 shares during the period. Finally, FMR LLC raised its position in Colgate-Palmolive by 65.6% during the third quarter. FMR LLC now owns 6,749,275 shares of the company’s stock valued at $700,642,000 after acquiring an additional 2,674,807 shares in the last quarter. 80.41% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of research firms recently weighed in on CL. TD Cowen reduced their price target on Colgate-Palmolive from $110.00 to $100.00 and set a “buy” rating for the company in a report on Wednesday, January 8th. StockNews.com cut Colgate-Palmolive from a “buy” rating to a “hold” rating in a research report on Thursday, January 9th. Stifel Nicolaus reduced their price objective on Colgate-Palmolive from $101.00 to $95.00 and set a “hold” rating for the company in a research note on Friday, January 17th. Barclays reduced their price target on Colgate-Palmolive from $96.00 to $83.00 and set an “equal weight” rating for the company in a report on Friday, January 17th. Finally, JPMorgan Chase & Co. decreased their target price on shares of Colgate-Palmolive from $109.00 to $103.00 and set an “overweight” rating on the stock in a research report on Thursday, January 16th. One investment analyst has rated the stock with a sell rating, ten have assigned a hold rating and twelve have given a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $101.11.

Insider Transactions at Colgate-Palmolive

In other Colgate-Palmolive 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 position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Insiders own 0.34% of the company’s stock.

Colgate-Palmolive Stock Performance

CL opened at $91.19 on Tuesday. Colgate-Palmolive has a 12-month low of $82.68 and a 12-month high of $109.30. The firm has a market capitalization of $74.50 billion, a P/E ratio of 26.13, a price-to-earnings-growth ratio of 3.59 and a beta of 0.44. The stock’s 50 day moving average price is $91.81 and its two-hundred day moving average price is $97.45. The company has a quick ratio of 0.68, a current ratio of 1.04 and a debt-to-equity ratio of 9.46.

Colgate-Palmolive Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, February 14th. Shareholders of record on Tuesday, January 21st will be given a $0.50 dividend. The ex-dividend date of this dividend is Tuesday, January 21st. This represents a $2.00 annualized dividend and a yield of 2.19%. Colgate-Palmolive’s dividend payout ratio is 57.31%.

About Colgate-Palmolive

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.