Synovus Financial Corp Lowers Stake in Colgate-Palmolive (NYSE:CL)

Synovus Financial Corp lessened its holdings in Colgate-Palmolive (NYSE:CL - Free Report) by 20.3% in the third quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 31,467 shares of the company's stock after selling 8,039 shares during the quarter. Synovus Financial Corp's holdings in Colgate-Palmolive were worth $3,267,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of the business. Main Street Research LLC lifted its position in Colgate-Palmolive by 1.5% during the second quarter. Main Street Research LLC now owns 6,939 shares of the company's stock worth $673,000 after purchasing an additional 100 shares during the period. Advisor OS LLC raised its position in Colgate-Palmolive by 4.5% during the second quarter. Advisor OS LLC now owns 2,348 shares of the company's stock valued at $228,000 after purchasing an additional 101 shares in the last quarter. BLB&B Advisors LLC boosted its holdings in shares of Colgate-Palmolive by 2.5% in the 2nd quarter. BLB&B Advisors LLC now owns 4,337 shares of the company's stock valued at $421,000 after purchasing an additional 104 shares in the last quarter. D Orazio & Associates Inc. increased its stake in shares of Colgate-Palmolive by 3.9% in the 3rd 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 last quarter. Finally, ZWJ Investment Counsel Inc. raised its holdings in shares of Colgate-Palmolive by 3.1% during the 2nd quarter. ZWJ Investment Counsel Inc. now owns 3,591 shares of the company's stock worth $349,000 after buying an additional 109 shares in the last quarter. 80.41% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

CL has been the subject of several research analyst reports. Deutsche Bank Aktiengesellschaft downgraded Colgate-Palmolive from a "buy" rating to a "hold" rating and boosted their target price for the stock from $107.00 to $109.00 in a research note on Monday, September 9th. StockNews.com raised shares of Colgate-Palmolive from a "hold" rating to a "buy" rating in a research note on Monday, November 25th. JPMorgan Chase & Co. boosted their target price on shares of Colgate-Palmolive from $113.00 to $114.00 and gave the stock an "overweight" rating in a research note on Friday, October 11th. TD Cowen lowered their price target on shares of Colgate-Palmolive from $115.00 to $110.00 and set a "buy" rating for the company in a report on Monday, October 28th. Finally, Stifel Nicolaus downgraded Colgate-Palmolive from a "buy" rating to a "hold" rating and cut their price objective for the company from $105.00 to $101.00 in a report on Monday, October 28th. One analyst has rated the stock with a sell rating, nine have given a hold rating and thirteen have given a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus price target of $105.11.

Colgate-Palmolive Trading Down 0.1 %

CL stock traded down $0.12 during midday trading on Friday, hitting $93.44. The stock had a trading volume of 3,019,615 shares, compared to its average volume of 4,372,780. The company has a current ratio of 1.04, a quick ratio of 0.68 and a debt-to-equity ratio of 9.46. The firm has a market cap of $76.34 billion, a P/E ratio of 26.77, a price-to-earnings-growth ratio of 3.31 and a beta of 0.43. The business has a fifty day moving average price of $95.73 and a two-hundred day moving average price of $98.63. Colgate-Palmolive has a 1-year low of $75.50 and a 1-year high of $109.30.

Colgate-Palmolive Announces Dividend

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 given a dividend of $0.50 per share. The ex-dividend date is Tuesday, January 21st. This represents a $2.00 annualized dividend and a dividend yield of 2.14%. Colgate-Palmolive's payout ratio is 57.31%.

Insider Buying and Selling

In other Colgate-Palmolive news, CFO Stanley J. Sutula III sold 45,410 shares of Colgate-Palmolive stock in a transaction on Tuesday, November 5th. The shares were 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 $3,456,283.86. The trade was a 55.29 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 0.34% of the stock is currently 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.