Somerset Trust Co Has $2.26 Million Stock Holdings in Colgate-Palmolive (NYSE:CL)

Somerset Trust Co lifted its stake in Colgate-Palmolive (NYSE:CL) by 3.6% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 24,859 shares of the company’s stock after acquiring an additional 863 shares during the quarter. Somerset Trust Co’s holdings in Colgate-Palmolive were worth $2,260,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also bought and sold shares of the stock. Reston Wealth Management LLC acquired a new position in shares of Colgate-Palmolive during the 3rd quarter worth approximately $42,000. Capital Performance Advisors LLP acquired a new stake in Colgate-Palmolive in the 3rd quarter valued at about $53,000. Prospera Private Wealth LLC acquired a new position in Colgate-Palmolive during the third quarter worth approximately $64,000. True Wealth Design LLC raised its stake in Colgate-Palmolive by 1,460.9% in the third quarter. True Wealth Design LLC now owns 718 shares of the company’s stock valued at $75,000 after buying an additional 672 shares during the period. Finally, Continuum Advisory LLC raised its stake in Colgate-Palmolive by 93.4% in the third quarter. Continuum Advisory LLC now owns 762 shares of the company’s stock valued at $79,000 after buying an additional 368 shares during the period. Institutional investors own 80.41% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have recently commented on CL shares. TD Cowen reduced their target price on Colgate-Palmolive from $110.00 to $100.00 and set a “buy” rating for the company in a research note on Wednesday, January 8th. Piper Sandler dropped their price objective on shares of Colgate-Palmolive from $121.00 to $112.00 and set an “overweight” rating on the stock in a research report on Monday, January 6th. JPMorgan Chase & Co. reduced their target price on shares of Colgate-Palmolive from $109.00 to $103.00 and set an “overweight” rating for the company in a report on Thursday. Stifel Nicolaus lowered their price target on shares of Colgate-Palmolive from $101.00 to $95.00 and set a “hold” rating on the stock in a report on Friday. Finally, Barclays reduced their price target on Colgate-Palmolive from $96.00 to $83.00 and set an “equal weight” rating for the company in a research note on Friday. One investment analyst has rated the stock with a sell rating, ten have assigned a hold rating and twelve have given a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $101.11.

Colgate-Palmolive Stock Up 0.3 %

Shares of NYSE:CL opened at $88.79 on Friday. The company has a debt-to-equity ratio of 9.46, a quick ratio of 0.68 and a current ratio of 1.04. Colgate-Palmolive has a 52-week low of $79.69 and a 52-week high of $109.30. The company has a market capitalization of $72.55 billion, a PE ratio of 25.44, a price-to-earnings-growth ratio of 3.01 and a beta of 0.44. The company has a fifty day moving average of $92.27 and a 200-day moving average of $97.78.

Colgate-Palmolive Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, February 14th. Stockholders of record on Tuesday, January 21st will be issued a dividend of $0.50 per share. 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 dividend payout ratio (DPR) is currently 57.31%.

Insider Activity

In other news, CFO Stanley J. Sutula III sold 45,410 shares of the stock in a transaction dated Tuesday, November 5th. The stock was 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 approximately $3,456,283.86. This represents a 55.29 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. 0.37% of the stock is currently owned by insiders.

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.