Colgate-Palmolive (NYSE:CL) Stock Position Decreased by Synovus Financial Corp

Synovus Financial Corp cut its stake in shares of Colgate-Palmolive (NYSE:CL) by 20.3% during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 31,467 shares of the company’s stock after selling 8,039 shares during the period. Synovus Financial Corp’s holdings in Colgate-Palmolive were worth $3,267,000 at the end of the most recent quarter.

Several other hedge funds have also modified their holdings of CL. Acadian Asset Management LLC lifted its stake in Colgate-Palmolive by 108.4% during the second quarter. Acadian Asset Management LLC now owns 5,682,280 shares of the company’s stock valued at $551,367,000 after buying an additional 2,955,442 shares in the last quarter. FMR LLC lifted its position in shares of Colgate-Palmolive by 65.6% in the 3rd quarter. FMR LLC now owns 6,749,275 shares of the company’s stock valued at $700,642,000 after acquiring an additional 2,674,807 shares in the last quarter. Massachusetts Financial Services Co. MA boosted 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 purchasing an additional 2,593,313 shares during the period. Barclays PLC grew its position in Colgate-Palmolive by 38.7% during the 3rd quarter. Barclays PLC now owns 7,644,189 shares of the company’s stock worth $793,542,000 after purchasing an additional 2,132,747 shares in the last quarter. Finally, State Street Corp raised its stake in Colgate-Palmolive by 3.8% during the 3rd quarter. State Street Corp now owns 48,436,276 shares of the company’s stock valued at $5,028,170,000 after purchasing an additional 1,784,411 shares during the period. 80.41% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other Colgate-Palmolive news, CFO Stanley J. Sutula III sold 45,410 shares of the firm’s stock in a transaction that occurred on 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 sale, the chief financial officer now owns 36,726 shares of the company’s stock, valued at $3,456,283.86. This trade represents a 55.29 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Insiders own 0.34% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages have recently weighed in on CL. Stifel Nicolaus downgraded Colgate-Palmolive from a “buy” rating to a “hold” rating and lowered their price target for the company from $105.00 to $101.00 in a report on Monday, October 28th. JPMorgan Chase & Co. lifted their target price on Colgate-Palmolive from $113.00 to $114.00 and gave the company an “overweight” rating in a research note on Friday, October 11th. StockNews.com raised shares of Colgate-Palmolive from a “hold” rating to a “buy” rating in a research report on Monday, November 25th. 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 price objective on the stock. Finally, UBS Group increased their target price on shares of Colgate-Palmolive from $119.00 to $122.00 and gave the stock a “buy” rating in a research report on Wednesday, September 4th. One investment analyst has rated the stock with a sell rating, nine have assigned a hold rating and thirteen have issued a buy rating to the company. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $105.11.

Colgate-Palmolive Trading Down 0.1 %

Shares of CL stock opened at $93.44 on Friday. Colgate-Palmolive has a 12 month low of $75.50 and a 12 month high of $109.30. The company has a market cap of $76.34 billion, a PE ratio of 26.77, a price-to-earnings-growth ratio of 3.31 and a beta of 0.43. The company has a quick ratio of 0.68, a current ratio of 1.04 and a debt-to-equity ratio of 9.46. The business’s 50 day moving average is $95.73 and its two-hundred day moving average is $98.63.

Colgate-Palmolive Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, February 14th. Investors of record on Tuesday, January 21st will be paid a $0.50 dividend. The ex-dividend date of this dividend is Tuesday, January 21st. This represents a $2.00 dividend on an annualized basis and a yield of 2.14%. Colgate-Palmolive’s payout ratio is presently 57.31%.

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.