Chemung Canal Trust Co. Decreases Holdings in Colgate-Palmolive (NYSE:CL)

Chemung Canal Trust Co. lowered its holdings in shares of Colgate-Palmolive (NYSE:CL) by 35.0% during the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 32,656 shares of the company’s stock after selling 17,589 shares during the period. Chemung Canal Trust Co.’s holdings in Colgate-Palmolive were worth $2,969,000 as of its most recent filing with the SEC.

Other institutional investors have also added to or reduced their stakes in the company. Evergreen Capital Management LLC lifted its stake in shares of Colgate-Palmolive by 4.2% in the 2nd quarter. Evergreen Capital Management LLC now owns 3,490 shares of the company’s stock valued at $339,000 after acquiring an additional 141 shares during the last quarter. APG Asset Management N.V. boosted its stake in shares of Colgate-Palmolive by 64.3% during the second quarter. APG Asset Management N.V. now owns 1,251,422 shares of the company’s stock valued at $113,308,000 after purchasing an additional 489,977 shares during the period. Daymark Wealth Partners LLC increased its stake in shares of Colgate-Palmolive by 8.6% in the second quarter. Daymark Wealth Partners LLC now owns 24,553 shares of the company’s stock worth $2,383,000 after buying an additional 1,945 shares during the period. MBB Public Markets I LLC raised its holdings in Colgate-Palmolive by 1,530.9% during the 2nd quarter. MBB Public Markets I LLC now owns 56,414 shares of the company’s stock valued at $5,474,000 after buying an additional 52,955 shares during the last quarter. Finally, The Manufacturers Life Insurance Company grew its holdings in Colgate-Palmolive by 6.1% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 697,209 shares of the company’s stock worth $67,657,000 after acquiring an additional 39,838 shares during the last quarter. 80.41% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several brokerages have recently commented on CL. UBS Group lowered their price objective on shares of Colgate-Palmolive from $112.00 to $104.00 and set a “buy” rating for the company in a research note on Thursday, January 16th. StockNews.com cut shares of Colgate-Palmolive from a “buy” rating to a “hold” rating in a research report on Thursday, January 9th. TD Cowen decreased 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 note on Wednesday, January 8th. Barclays cut their price objective on Colgate-Palmolive from $96.00 to $83.00 and set an “equal weight” rating on the stock in a research report on Friday, January 17th. Finally, JPMorgan Chase & Co. decreased their target price on Colgate-Palmolive from $109.00 to $103.00 and set an “overweight” rating for the company in a research report on Thursday, January 16th. One research analyst has rated the stock with a sell rating, ten have issued a hold rating and twelve have given a buy rating to the company. According to data from MarketBeat.com, Colgate-Palmolive presently has an average rating of “Hold” and an average target price of $101.11.

Colgate-Palmolive Trading Down 0.0 %

Shares of Colgate-Palmolive stock opened at $87.88 on Friday. The company has a debt-to-equity ratio of 9.46, a quick ratio of 0.68 and a current ratio of 1.04. The company has a fifty day moving average of $91.93 and a 200 day moving average of $97.51. The company has a market capitalization of $71.79 billion, a P/E ratio of 25.18, a P/E/G ratio of 3.59 and a beta of 0.44. Colgate-Palmolive has a fifty-two week low of $80.03 and a fifty-two week high of $109.30.

Colgate-Palmolive Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, February 14th. Investors of record on Tuesday, January 21st will be paid a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a yield of 2.28%. The ex-dividend date of this dividend is Tuesday, January 21st. Colgate-Palmolive’s dividend payout ratio (DPR) is presently 57.31%.

Insider Buying and Selling

In other news, CFO Stanley J. Sutula III sold 45,410 shares of the company’s stock in a transaction that occurred 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 of the company’s stock, valued at $3,456,283.86. This represents a 55.29 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 0.34% of the stock is owned by insiders.

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.