Morse Asset Management Inc Trims Holdings in Colgate-Palmolive (NYSE:CL)

Morse Asset Management Inc trimmed its stake in Colgate-Palmolive (NYSE:CL) by 7.7% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 6,000 shares of the company’s stock after selling 500 shares during the period. Morse Asset Management Inc’s holdings in Colgate-Palmolive were worth $623,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also modified their holdings of the company. E Fund Management Hong Kong Co. Ltd. bought a new stake in Colgate-Palmolive during the 2nd quarter valued at $25,000. Continuum Advisory LLC lifted its stake in Colgate-Palmolive by 46.5% in the second quarter. Continuum Advisory LLC now owns 394 shares of the company’s stock worth $38,000 after acquiring an additional 125 shares during the period. Reston Wealth Management LLC purchased a new position in Colgate-Palmolive during the 3rd quarter valued at about $42,000. Capital Performance Advisors LLP bought a new stake in shares of Colgate-Palmolive in the 3rd quarter valued at about $53,000. Finally, Prospera Private Wealth LLC bought a new position in Colgate-Palmolive in the third quarter worth approximately $64,000. 80.41% of the stock is owned by hedge funds and other institutional investors.

Colgate-Palmolive Stock Down 2.6 %

Shares of CL opened at $94.61 on Wednesday. The stock’s 50-day moving average price is $97.07 and its 200-day moving average price is $98.66. 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 company has a market capitalization of $77.30 billion, a price-to-earnings ratio of 27.11, a PEG ratio of 3.47 and a beta of 0.43. Colgate-Palmolive has a 52 week low of $75.50 and a 52 week high of $109.30.

Colgate-Palmolive Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, November 15th. Stockholders of record on Friday, October 18th were paid a dividend of $0.50 per share. The ex-dividend date was Friday, October 18th. This represents a $2.00 dividend on an annualized basis and a dividend yield of 2.11%. Colgate-Palmolive’s payout ratio is 57.31%.

Analyst Ratings Changes

CL has been the topic of a number of recent research reports. Piper Sandler began coverage on Colgate-Palmolive in a research report on Tuesday, September 24th. They set an “overweight” rating and a $121.00 price objective on the stock. StockNews.com raised shares of Colgate-Palmolive from a “hold” rating to a “buy” rating in a research report on Monday, November 25th. Stifel Nicolaus cut shares of Colgate-Palmolive from a “buy” rating to a “hold” rating and decreased their target price for the company from $105.00 to $101.00 in a research report on Monday, October 28th. Deutsche Bank Aktiengesellschaft downgraded Colgate-Palmolive from a “buy” rating to a “hold” rating and upped their price target for the stock from $107.00 to $109.00 in a research report on Monday, September 9th. Finally, Wells Fargo & Company lowered their price objective on Colgate-Palmolive from $100.00 to $92.00 and set an “underweight” rating for the company in a research report on Monday, October 28th. One equities research analyst has rated the stock with a sell rating, nine have issued a hold rating and thirteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Colgate-Palmolive presently has an average rating of “Moderate Buy” and a consensus price target of $105.11.

Insider Activity

In other news, CFO Stanley J. Sutula III sold 45,410 shares of the firm’s stock in a transaction dated 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 $3,456,283.86. This trade represents a 55.29 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 0.37% of the company’s stock.

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.