Colgate-Palmolive (NYSE:CL) Shares Sold by Chesapeake Wealth Management

Chesapeake Wealth Management decreased its stake in Colgate-Palmolive (NYSE:CL) by 3.3% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 5,057 shares of the company’s stock after selling 170 shares during the period. Chesapeake Wealth Management’s holdings in Colgate-Palmolive were worth $460,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the stock. D Orazio & Associates Inc. lifted its stake in shares of Colgate-Palmolive by 3.9% in the third quarter. D Orazio & Associates Inc. now owns 2,862 shares of the company’s stock valued at $297,000 after purchasing an additional 108 shares during the period. Fiducient Advisors LLC lifted its stake in shares of Colgate-Palmolive by 5.2% in the third quarter. Fiducient Advisors LLC now owns 2,231 shares of the company’s stock valued at $232,000 after purchasing an additional 110 shares during the period. Sequoia Financial Advisors LLC raised its position in Colgate-Palmolive by 0.6% during the third quarter. Sequoia Financial Advisors LLC now owns 20,392 shares of the company’s stock worth $2,117,000 after acquiring an additional 113 shares during the last quarter. Great Waters Wealth Management lifted its holdings in shares of Colgate-Palmolive by 1.5% in the third 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 in the last quarter. Finally, Waldron Private Wealth LLC lifted its holdings in shares of Colgate-Palmolive by 2.1% in the third quarter. Waldron Private Wealth LLC now owns 5,632 shares of the company’s stock valued at $585,000 after purchasing an additional 118 shares in the last quarter. Institutional investors and hedge funds own 80.41% of the company’s stock.

Analyst Upgrades and Downgrades

CL has been the topic of several recent research reports. JPMorgan Chase & Co. reduced their price target on shares of Colgate-Palmolive from $109.00 to $103.00 and set an “overweight” rating on the stock in a report on Thursday, January 16th. TD Cowen reduced their price target on shares of Colgate-Palmolive from $110.00 to $100.00 and set a “buy” rating on the stock in a report on Wednesday, January 8th. StockNews.com downgraded shares of Colgate-Palmolive from a “buy” rating to a “hold” rating in a report on Thursday, January 9th. Piper Sandler reduced their price target on shares of Colgate-Palmolive from $121.00 to $112.00 and set an “overweight” rating on the stock in a report on Monday, January 6th. Finally, Wells Fargo & Company reduced their price target on shares of Colgate-Palmolive from $92.00 to $83.00 and set an “underweight” rating on the stock in a report on Tuesday, January 7th. One investment 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’s stock. According to MarketBeat, Colgate-Palmolive presently has a consensus rating of “Hold” and an average price target of $101.11.

Insider Transactions at Colgate-Palmolive

In other news, CFO Stanley J. Sutula III sold 45,410 shares of the stock in a transaction on Tuesday, November 5th. The shares were 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 $3,456,283.86. This represents a 55.29 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Company insiders own 0.37% of the company’s stock.

Colgate-Palmolive Price Performance

Colgate-Palmolive stock opened at $88.79 on Tuesday. Colgate-Palmolive has a 52-week low of $79.69 and a 52-week high of $109.30. The firm has a fifty day moving average of $92.20 and a 200-day moving average of $97.76. The firm has a market capitalization of $72.55 billion, a P/E ratio of 25.44, a PEG ratio of 3.01 and a beta of 0.44. The company has a quick ratio of 0.68, a current ratio of 1.04 and a debt-to-equity ratio of 9.46.

Colgate-Palmolive Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, February 14th. Stockholders of record on Tuesday, January 21st will be given a $0.50 dividend. This represents a $2.00 annualized dividend and a dividend yield of 2.25%. The ex-dividend date is Tuesday, January 21st. 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.