Wendell David Associates Inc. Has $7.27 Million Holdings in Colgate-Palmolive (NYSE:CL)

Wendell David Associates Inc. trimmed its position in Colgate-Palmolive (NYSE:CL) by 2.8% in the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 79,919 shares of the company’s stock after selling 2,265 shares during the period. Wendell David Associates Inc.’s holdings in Colgate-Palmolive were worth $7,265,000 at the end of the most recent quarter.

Several other institutional investors have also made changes to their positions in the company. Reston Wealth Management LLC purchased a new position in shares of Colgate-Palmolive during the third quarter valued at $42,000. Capital Performance Advisors LLP acquired a new stake in Colgate-Palmolive in the third quarter valued at approximately $53,000. Prospera Private Wealth LLC acquired a new position in shares of Colgate-Palmolive during the 3rd quarter worth $64,000. True Wealth Design LLC boosted its holdings in Colgate-Palmolive by 1,460.9% in the third quarter. True Wealth Design LLC now owns 718 shares of the company’s stock worth $75,000 after purchasing an additional 672 shares in the last quarter. Finally, Continuum Advisory LLC increased its position in Colgate-Palmolive by 93.4% during the third quarter. Continuum Advisory LLC now owns 762 shares of the company’s stock worth $79,000 after buying an additional 368 shares during the last quarter. 80.41% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other news, CFO Stanley J. Sutula III sold 45,410 shares of the stock in a transaction dated Tuesday, November 5th. The stock was 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 owns 36,726 shares of the company’s stock, valued at approximately $3,456,283.86. This represents a 55.29 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. 0.34% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on the stock. 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 report on Wednesday, January 8th. Piper Sandler decreased their target price 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. Barclays cut 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. Wells Fargo & Company reduced their target price on Colgate-Palmolive from $92.00 to $83.00 and set an “underweight” rating for the company in a research report on Tuesday, January 7th. Finally, StockNews.com cut shares of Colgate-Palmolive from a “buy” rating to a “hold” rating in a research note on Thursday, January 9th. One equities research analyst has rated the stock with a sell rating, ten have assigned a hold rating and twelve have issued a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $101.11.

Colgate-Palmolive Stock Performance

CL opened at $87.53 on Thursday. The firm has a market cap of $71.51 billion, a P/E ratio of 25.08, a price-to-earnings-growth ratio of 3.62 and a beta of 0.44. The business’s fifty day moving average is $92.07 and its 200-day moving average is $97.65. Colgate-Palmolive has a 52-week low of $80.03 and a 52-week high of $109.30. The company has a debt-to-equity ratio of 9.46, a quick ratio of 0.68 and a current ratio of 1.04.

Colgate-Palmolive Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, February 14th. Stockholders of record on Tuesday, January 21st will be paid a $0.50 dividend. The ex-dividend date is Tuesday, January 21st. This represents a $2.00 dividend on an annualized basis and a dividend yield of 2.28%. Colgate-Palmolive’s payout ratio is currently 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.