Cadence Bank Sells 125 Shares of Colgate-Palmolive (NYSE:CL)

Cadence Bank reduced its stake in Colgate-Palmolive (NYSE:CL) by 2.2% during the third quarter, HoldingsChannel reports. The firm owned 5,570 shares of the company’s stock after selling 125 shares during the period. Cadence Bank’s holdings in Colgate-Palmolive were worth $578,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of the stock. Acadian Asset Management LLC grew its stake in Colgate-Palmolive by 108.4% in the 2nd quarter. Acadian Asset Management LLC now owns 5,682,280 shares of the company’s stock worth $551,367,000 after buying an additional 2,955,442 shares in the last quarter. FMR LLC grew its stake in Colgate-Palmolive by 65.6% in the 3rd quarter. FMR LLC now owns 6,749,275 shares of the company’s stock worth $700,642,000 after buying an additional 2,674,807 shares in the last quarter. Massachusetts Financial Services Co. MA grew its stake in Colgate-Palmolive by 40.7% in the 2nd quarter. Massachusetts Financial Services Co. MA now owns 8,969,498 shares of the company’s stock worth $870,400,000 after buying an additional 2,593,313 shares in the last quarter. AQR Capital Management LLC grew its stake in Colgate-Palmolive by 58.6% in the 2nd quarter. AQR Capital Management LLC now owns 2,416,943 shares of the company’s stock worth $234,540,000 after buying an additional 892,706 shares in the last quarter. Finally, Canada Pension Plan Investment Board boosted its stake in shares of Colgate-Palmolive by 38.8% in the 2nd quarter. Canada Pension Plan Investment Board now owns 2,541,975 shares of the company’s stock valued at $246,673,000 after purchasing an additional 710,500 shares in the last quarter. Hedge funds and other institutional investors own 80.41% of the company’s stock.

Insider Activity at Colgate-Palmolive

In related news, CFO Stanley J. Sutula III sold 45,410 shares of Colgate-Palmolive stock in a transaction dated Tuesday, November 5th. The shares were sold at an average price of $94.11, for a total transaction of $4,273,535.10. Following the completion of the transaction, the chief financial officer now directly owns 36,726 shares of the company’s stock, valued at $3,456,283.86. This trade represents a 55.29 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. 0.37% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

A number of equities research analysts have recently issued reports on CL shares. Stifel Nicolaus cut shares of Colgate-Palmolive from a “buy” rating to a “hold” rating and cut their price objective for the company from $105.00 to $101.00 in a research note on Monday, October 28th. StockNews.com raised shares of Colgate-Palmolive from a “hold” rating to a “buy” rating in a research note on Monday. Redburn Atlantic raised shares of Colgate-Palmolive to a “hold” rating in a research note on Thursday, August 1st. JPMorgan Chase & Co. upped their price objective on shares of Colgate-Palmolive from $113.00 to $114.00 and gave the company an “overweight” rating in a research note on Friday, October 11th. Finally, Wells Fargo & Company cut their price objective on shares of Colgate-Palmolive from $100.00 to $92.00 and set an “underweight” rating for the company in a research note on Monday, October 28th. One investment analyst has rated the stock with a sell rating, nine have given a hold rating and thirteen have given a buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $105.11.

Colgate-Palmolive Stock Performance

Shares of CL opened at $96.75 on Thursday. The company has a 50-day simple moving average of $97.61 and a two-hundred day simple moving average of $98.58. 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 has a market capitalization of $79.05 billion, a PE ratio of 27.72, a price-to-earnings-growth ratio of 3.40 and a beta of 0.42. Colgate-Palmolive has a one year low of $75.50 and a one year high of $109.30.

Colgate-Palmolive Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, November 15th. Stockholders of record on Friday, October 18th were paid a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a dividend yield of 2.07%. The ex-dividend date of this dividend was Friday, October 18th. Colgate-Palmolive’s payout ratio is presently 57.31%.

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.