Meyer Handelman Co. Sells 1,582 Shares of Colgate-Palmolive (NYSE:CL)

Meyer Handelman Co. trimmed its position in shares of Colgate-Palmolive (NYSE:CL) by 0.9% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 173,428 shares of the company’s stock after selling 1,582 shares during the period. Meyer Handelman Co.’s holdings in Colgate-Palmolive were worth $15,766,000 at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of CL. D Orazio & Associates Inc. grew its holdings in Colgate-Palmolive by 3.9% during the 3rd quarter. D Orazio & Associates Inc. now owns 2,862 shares of the company’s stock valued at $297,000 after buying an additional 108 shares in the last quarter. Fiducient Advisors LLC grew its stake in Colgate-Palmolive by 5.2% during the third quarter. Fiducient Advisors LLC now owns 2,231 shares of the company’s stock valued at $232,000 after acquiring an additional 110 shares in the last quarter. Wealthspire Advisors LLC increased its holdings in Colgate-Palmolive by 3.0% in the 2nd quarter. Wealthspire Advisors LLC now owns 3,853 shares of the company’s stock valued at $374,000 after acquiring an additional 111 shares during the last quarter. Sequoia Financial Advisors LLC increased its holdings in Colgate-Palmolive by 0.6% in the 3rd quarter. Sequoia Financial Advisors LLC now owns 20,392 shares of the company’s stock valued at $2,117,000 after acquiring an additional 113 shares during the last quarter. Finally, Great Waters Wealth Management boosted its holdings in shares of Colgate-Palmolive by 1.5% during the 3rd quarter. Great Waters Wealth Management now owns 7,669 shares of the company’s stock valued at $796,000 after purchasing an additional 117 shares during the last quarter. Hedge funds and other institutional investors own 80.41% of the company’s stock.

Insiders Place Their Bets

In other news, CFO Stanley J. Sutula III sold 45,410 shares of the company’s stock in a transaction 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 transaction, the chief financial officer now directly 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 document filed with the SEC, which is accessible through this hyperlink. 0.37% of the stock is currently owned by corporate insiders.

Colgate-Palmolive Stock Up 0.7 %

Shares of NYSE CL opened at $87.73 on Wednesday. Colgate-Palmolive has a 12-month low of $79.69 and a 12-month high of $109.30. The stock’s fifty day simple moving average is $92.36 and its two-hundred day simple moving average is $97.92. The stock has a market capitalization of $71.68 billion, a PE ratio of 25.14, a price-to-earnings-growth ratio of 3.31 and a beta of 0.44. The company has a current ratio of 1.04, a quick ratio of 0.68 and a debt-to-equity ratio of 9.46.

Colgate-Palmolive Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, February 14th. Shareholders 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 annualized dividend and a yield of 2.28%. Colgate-Palmolive’s dividend payout ratio (DPR) is presently 57.31%.

Analyst Ratings Changes

A number of research analysts have recently weighed in on the company. Wells Fargo & Company cut their price objective 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. Piper Sandler reduced their price objective on Colgate-Palmolive from $121.00 to $112.00 and set an “overweight” rating on the stock in a research note on Monday, January 6th. Stifel Nicolaus downgraded Colgate-Palmolive from a “buy” rating to a “hold” rating and reduced their price objective for the stock from $105.00 to $101.00 in a research note on Monday, October 28th. JPMorgan Chase & Co. raised their target price on shares of Colgate-Palmolive from $113.00 to $114.00 and gave the company an “overweight” rating in a report on Friday, October 11th. Finally, StockNews.com cut shares of Colgate-Palmolive from a “buy” rating to a “hold” rating in a research report on Thursday, January 9th. One research analyst has rated the stock with a sell rating, ten have given a hold rating and twelve have given a buy rating to the company’s stock. According to MarketBeat, Colgate-Palmolive currently has a consensus rating of “Hold” and an average price target of $103.63.

Colgate-Palmolive 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.