Fifth Third Bancorp Sells 6,901 Shares of Colgate-Palmolive (NYSE:CL)

Fifth Third Bancorp cut its position in Colgate-Palmolive (NYSE:CL) by 7.0% in the fourth quarter, HoldingsChannel.com reports. The firm owned 91,834 shares of the company’s stock after selling 6,901 shares during the period. Fifth Third Bancorp’s holdings in Colgate-Palmolive were worth $8,349,000 as of its most recent SEC filing.

Several other hedge funds have also modified their holdings of CL. D Orazio & Associates Inc. raised its stake in Colgate-Palmolive by 3.9% in the third quarter. D Orazio & Associates Inc. now owns 2,862 shares of the company’s stock valued at $297,000 after buying an additional 108 shares during the last quarter. Fiducient Advisors LLC raised its position in shares of Colgate-Palmolive by 5.2% in the 3rd quarter. Fiducient Advisors LLC now owns 2,231 shares of the company’s stock valued at $232,000 after purchasing an additional 110 shares during the last quarter. Sequoia Financial Advisors LLC boosted its stake in Colgate-Palmolive by 0.6% in the 3rd quarter. Sequoia Financial Advisors LLC now owns 20,392 shares of the company’s stock worth $2,117,000 after purchasing an additional 113 shares in the last quarter. Great Waters Wealth Management grew its position in Colgate-Palmolive by 1.5% during the 3rd quarter. Great Waters Wealth Management now owns 7,669 shares of the company’s stock worth $796,000 after purchasing an additional 117 shares during the last quarter. Finally, Waldron Private Wealth LLC increased its stake in Colgate-Palmolive by 2.1% during the 3rd quarter. Waldron Private Wealth LLC now owns 5,632 shares of the company’s stock valued at $585,000 after purchasing an additional 118 shares in the last quarter. 80.41% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several research firms have recently commented on CL. Piper Sandler lowered their price objective on shares of Colgate-Palmolive from $121.00 to $112.00 and set an “overweight” rating for the company in a research note on Monday, January 6th. UBS Group lowered their price target on Colgate-Palmolive from $112.00 to $104.00 and set a “buy” rating for the company in a research report on Thursday, January 16th. Barclays cut their price objective on Colgate-Palmolive from $96.00 to $83.00 and set an “equal weight” rating on the stock in a report on Friday, January 17th. Wells Fargo & Company decreased their target price on Colgate-Palmolive from $92.00 to $83.00 and set an “underweight” rating for the company in a report on Tuesday, January 7th. Finally, StockNews.com downgraded shares of Colgate-Palmolive from a “buy” rating to a “hold” rating in a report on Thursday, January 9th. One equities research analyst has rated the stock with a sell rating, ten have assigned a hold rating and twelve have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $101.11.

Colgate-Palmolive Price Performance

Colgate-Palmolive stock opened at $87.88 on Monday. The stock has a market capitalization of $71.79 billion, a P/E ratio of 25.18, a P/E/G ratio of 3.59 and a beta of 0.44. The company’s fifty day moving average price is $91.81 and its 200 day moving average price is $97.45. 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 1 year low of $80.03 and a 1 year high of $109.30.

Colgate-Palmolive Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, February 14th. Investors of record on Tuesday, January 21st will be issued a $0.50 dividend. This represents a $2.00 annualized dividend and a yield of 2.28%. The ex-dividend date is Tuesday, January 21st. Colgate-Palmolive’s payout ratio is 57.31%.

Insiders Place Their Bets

In other news, CFO Stanley J. Sutula III sold 45,410 shares of Colgate-Palmolive 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 directly owns 36,726 shares of the company’s stock, valued at $3,456,283.86. The trade was a 55.29 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. 0.34% of the stock is owned by company insiders.

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.