Saratoga Research & Investment Management Sells 10,390 Shares of Colgate-Palmolive (NYSE:CL)

Saratoga Research & Investment Management lowered its position in shares of Colgate-Palmolive (NYSE:CL - Free Report) by 7.1% during the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 134,944 shares of the company's stock after selling 10,390 shares during the quarter. Colgate-Palmolive accounts for approximately 0.6% of Saratoga Research & Investment Management's investment portfolio, making the stock its 29th biggest holding. Saratoga Research & Investment Management's holdings in Colgate-Palmolive were worth $14,009,000 at the end of the most recent quarter.

Other large investors have also recently made changes to their positions in the company. Fulcrum Equity Management raised its holdings in shares of Colgate-Palmolive by 3.0% in the 3rd quarter. Fulcrum Equity Management now owns 5,280 shares of the company's stock worth $548,000 after purchasing an additional 153 shares during the period. Chelsea Counsel Co. raised its stake in shares of Colgate-Palmolive by 10.0% in the third quarter. Chelsea Counsel Co. now owns 5,500 shares of the company's stock valued at $571,000 after buying an additional 500 shares during the period. Te Ahumairangi Investment Management Ltd lifted its position in shares of Colgate-Palmolive by 2.5% during the 3rd quarter. Te Ahumairangi Investment Management Ltd now owns 43,957 shares of the company's stock valued at $4,537,000 after buying an additional 1,060 shares during the last quarter. M&T Bank Corp grew its stake in shares of Colgate-Palmolive by 8.2% during the 3rd quarter. M&T Bank Corp now owns 288,050 shares of the company's stock worth $29,903,000 after acquiring an additional 21,862 shares during the period. Finally, Unigestion Holding SA increased its holdings in Colgate-Palmolive by 301.4% in the 3rd quarter. Unigestion Holding SA now owns 325,056 shares of the company's stock worth $33,738,000 after acquiring an additional 244,071 shares during the last quarter. 80.41% of the stock is owned by hedge funds and other institutional investors.

Colgate-Palmolive Stock Performance

Colgate-Palmolive stock opened at $92.76 on Thursday. Colgate-Palmolive has a fifty-two week low of $75.50 and a fifty-two 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 stock has a market cap of $75.79 billion, a P/E ratio of 26.58, a price-to-earnings-growth ratio of 3.36 and a beta of 0.43. The firm's fifty day moving average price is $95.97 and its 200-day moving average price is $98.62.

Colgate-Palmolive Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, February 14th. Shareholders of record on Tuesday, January 21st will be given a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a yield of 2.16%. Colgate-Palmolive's payout ratio is 57.31%.

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on CL. Piper Sandler began coverage on shares of Colgate-Palmolive in a research report on Tuesday, September 24th. They set an "overweight" rating and a $121.00 target price for the company. TD Cowen cut their price objective 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. JPMorgan Chase & Co. boosted 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. Wells Fargo & Company cut their price target on Colgate-Palmolive from $100.00 to $92.00 and set an "underweight" rating for the company in a report on Monday, October 28th. Finally, StockNews.com upgraded Colgate-Palmolive from a "hold" rating to a "buy" rating in a research note on Monday, November 25th. One analyst has rated the stock with a sell rating, nine have issued a hold rating and thirteen have given a buy rating to the stock. According to data from MarketBeat, Colgate-Palmolive presently has an average rating of "Moderate Buy" and an average price target of $105.11.

Insiders Place Their Bets

In other news, CFO Stanley J. Sutula III sold 45,410 shares of the business's stock in a transaction that occurred 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 directly owns 36,726 shares in the company, valued at approximately $3,456,283.86. The trade was a 55.29 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Corporate insiders own 0.37% of the company's stock.

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.

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