GSB Wealth Management LLC Trims Stock Position in Colgate-Palmolive (NYSE:CL)

GSB Wealth Management LLC trimmed its holdings in Colgate-Palmolive (NYSE:CL) by 17.9% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 6,080 shares of the company’s stock after selling 1,326 shares during the quarter. GSB Wealth Management LLC’s holdings in Colgate-Palmolive were worth $631,000 at the end of the most recent quarter.

A number of other institutional investors have also modified their holdings of CL. Price T Rowe Associates Inc. MD increased its stake in Colgate-Palmolive by 27.8% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 41,067,130 shares of the company’s stock valued at $3,698,096,000 after buying an additional 8,933,912 shares during the period. Swedbank AB purchased a new position in shares of Colgate-Palmolive during the 1st quarter worth approximately $286,370,000. Acadian Asset Management LLC grew its stake in Colgate-Palmolive by 108.4% in the 2nd quarter. Acadian Asset Management LLC now owns 5,682,280 shares of the company’s stock worth $551,367,000 after acquiring an additional 2,955,442 shares during the period. Massachusetts Financial Services Co. MA grew its stake in Colgate-Palmolive by 40.7% in the 2nd quarter. Massachusetts Financial Services Co. MA now owns 8,969,498 shares of the company’s stock worth $870,400,000 after acquiring an additional 2,593,313 shares during the period. Finally, Ossiam grew its stake in Colgate-Palmolive by 368.4% in the 1st quarter. Ossiam now owns 1,563,768 shares of the company’s stock worth $140,817,000 after acquiring an additional 1,229,891 shares during the period. 80.41% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several analysts have recently issued reports on the stock. Deutsche Bank Aktiengesellschaft cut shares of Colgate-Palmolive from a “buy” rating to a “hold” rating and boosted their price objective for the company from $107.00 to $109.00 in a research note on Monday, September 9th. HSBC reiterated a “hold” rating on shares of Colgate-Palmolive in a report on Friday, July 26th. Citigroup boosted their price objective on shares of Colgate-Palmolive from $103.00 to $112.00 and gave the stock a “buy” rating in a report on Wednesday, July 10th. Evercore ISI upped their target price on shares of Colgate-Palmolive from $100.00 to $106.00 and gave the company an “outperform” rating in a research note on Thursday, July 18th. Finally, Bank of America upped their target price on shares of Colgate-Palmolive from $100.00 to $110.00 and gave the company a “buy” rating in a research note on Wednesday, July 10th. One analyst has rated the stock with a sell rating, ten have issued a hold rating and twelve have issued a buy rating to the company. Based on data from MarketBeat, Colgate-Palmolive has an average rating of “Hold” and a consensus price target of $105.11.

Insider Buying and Selling at Colgate-Palmolive

In other news, EVP Gregory Malcolm sold 10,533 shares of the business’s stock in a transaction on Tuesday, August 6th. The shares were sold at an average price of $103.10, for a total value of $1,085,952.30. Following the sale, the executive vice president now owns 10,377 shares of the company’s stock, valued at $1,069,868.70. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In other news, EVP Gregory Malcolm sold 10,533 shares of the business’s stock in a transaction on Tuesday, August 6th. The shares were sold at an average price of $103.10, for a total value of $1,085,952.30. Following the sale, the executive vice president now owns 10,377 shares of the company’s stock, valued at $1,069,868.70. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider Panagiotis Tsourapas sold 14,794 shares of the business’s stock in a transaction on Thursday, August 8th. The stock was sold at an average price of $102.94, for a total transaction of $1,522,894.36. Following the completion of the sale, the insider now directly owns 5,146 shares in the company, valued at approximately $529,729.24. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 43,490 shares of company stock valued at $4,486,063. 0.34% of the stock is currently owned by corporate insiders.

Colgate-Palmolive Stock Performance

Shares of CL opened at $94.70 on Wednesday. The company has a debt-to-equity ratio of 16.90, a quick ratio of 0.70 and a current ratio of 1.06. Colgate-Palmolive has a twelve month low of $73.97 and a twelve month high of $109.30. The firm’s 50 day moving average price is $102.86 and its two-hundred day moving average price is $98.19. The firm has a market cap of $77.70 billion, a P/E ratio of 29.98, a PEG ratio of 3.54 and a beta of 0.40.

Colgate-Palmolive Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, November 15th. Shareholders of record on Friday, October 18th will be paid a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a yield of 2.11%. The ex-dividend date of this dividend is Friday, October 18th. Colgate-Palmolive’s payout ratio is currently 63.29%.

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.