OVERSEA CHINESE BANKING Corp Ltd Cuts Holdings in Colgate-Palmolive (NYSE:CL)

OVERSEA CHINESE BANKING Corp Ltd lessened its stake in Colgate-Palmolive (NYSE:CL - Free Report) by 13.3% during the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 130,240 shares of the company's stock after selling 20,047 shares during the quarter. OVERSEA CHINESE BANKING Corp Ltd's holdings in Colgate-Palmolive were worth $13,518,000 at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of the stock. Main Street Research LLC increased its position in Colgate-Palmolive by 1.5% in the second quarter. Main Street Research LLC now owns 6,939 shares of the company's stock worth $673,000 after buying an additional 100 shares during the last quarter. Advisor OS LLC grew its position in shares of Colgate-Palmolive by 4.5% in 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 grew its position in shares of Colgate-Palmolive by 2.5% in the second 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. ZWJ Investment Counsel Inc. grew its position in shares of Colgate-Palmolive by 3.1% in the second quarter. ZWJ Investment Counsel Inc. now owns 3,591 shares of the company's stock valued at $349,000 after purchasing an additional 109 shares in the last quarter. Finally, Hexagon Capital Partners LLC grew its position in shares of Colgate-Palmolive by 9.5% in the second quarter. Hexagon Capital Partners LLC now owns 1,274 shares of the company's stock valued at $124,000 after purchasing an additional 110 shares in the last quarter. Institutional investors own 80.41% of the company's stock.

Colgate-Palmolive Stock Down 0.2 %

Shares of Colgate-Palmolive stock traded down $0.18 during midday trading on Tuesday, hitting $91.78. The company had a trading volume of 1,845,151 shares, compared to its average volume of 4,362,874. The stock has a market capitalization of $74.99 billion, a P/E ratio of 26.36, a P/E/G ratio of 3.31 and a beta of 0.42. Colgate-Palmolive has a 52-week low of $75.17 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. The company has a 50 day moving average of $100.62 and a 200 day moving average of $98.52.

Colgate-Palmolive Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, November 15th. Investors of record on Friday, October 18th will be issued a $0.50 dividend. The ex-dividend date of this dividend is Friday, October 18th. This represents a $2.00 dividend on an annualized basis and a yield of 2.18%. Colgate-Palmolive's dividend payout ratio is currently 57.31%.

Insider Buying and Selling

In other news, CFO Stanley J. Sutula III sold 45,410 shares of the firm's stock in a transaction dated 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 completion of the transaction, the chief financial officer now owns 36,726 shares in the company, valued at $3,456,283.86. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. In other Colgate-Palmolive news, Director Martina Hundmejean sold 2,313 shares of the firm's stock in a transaction dated Friday, August 23rd. The shares were sold at an average price of $103.86, for a total value of $240,228.18. Following the completion of the sale, the director now owns 11,755 shares of the company's stock, valued at $1,220,874.30. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Stanley J. Sutula III sold 45,410 shares of the firm's stock in a transaction dated 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 completion of the sale, the chief financial officer now directly owns 36,726 shares of the company's stock, valued at approximately $3,456,283.86. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. 0.34% of the stock is owned by insiders.

Analyst Ratings Changes

Several equities analysts recently commented on the company. Evercore ISI boosted their target price on Colgate-Palmolive from $100.00 to $106.00 and gave the stock an "outperform" rating in a research report on Thursday, July 18th. Wells Fargo & Company reduced their target price on Colgate-Palmolive from $100.00 to $92.00 and set an "underweight" rating for the company in a research report on Monday, October 28th. Stifel Nicolaus cut Colgate-Palmolive from a "buy" rating to a "hold" rating and reduced their target price for the stock from $105.00 to $101.00 in a research report on Monday, October 28th. UBS Group boosted their target price on Colgate-Palmolive from $119.00 to $122.00 and gave the stock a "buy" rating in a research report on Wednesday, September 4th. Finally, JPMorgan Chase & Co. boosted their target price on Colgate-Palmolive from $113.00 to $114.00 and gave the stock an "overweight" rating in a research report on Friday, October 11th. One investment analyst has rated the stock with a sell rating, nine have issued a hold rating and thirteen have assigned a buy rating to the company. Based on data from MarketBeat, Colgate-Palmolive presently has an average rating of "Moderate Buy" and an average target price of $105.11.

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.