Shulman DeMeo Asset Management LLC Sells 505 Shares of Colgate-Palmolive (NYSE:CL)

Shulman DeMeo Asset Management LLC trimmed its position in Colgate-Palmolive (NYSE:CL) by 7.6% in the 4th quarter, Holdings Channel reports. The firm owned 6,156 shares of the company’s stock after selling 505 shares during the quarter. Shulman DeMeo Asset Management LLC’s holdings in Colgate-Palmolive were worth $560,000 at the end of the most recent reporting period.

Other hedge funds have also recently made changes to their positions in the company. FMR LLC lifted its holdings in shares of Colgate-Palmolive by 65.6% during the 3rd quarter. FMR LLC now owns 6,749,275 shares of the company’s stock worth $700,642,000 after acquiring an additional 2,674,807 shares during the last quarter. Barclays PLC boosted its holdings in Colgate-Palmolive by 38.7% during the 3rd quarter. Barclays PLC now owns 7,644,189 shares of the company’s stock valued at $793,542,000 after acquiring an additional 2,132,747 shares during the period. State Street Corp grew its position in Colgate-Palmolive by 3.8% during the 3rd quarter. State Street Corp now owns 48,436,276 shares of the company’s stock worth $5,028,170,000 after acquiring an additional 1,784,411 shares during the last quarter. Nordea Investment Management AB increased its stake in Colgate-Palmolive by 32.5% in the 4th quarter. Nordea Investment Management AB now owns 5,091,683 shares of the company’s stock worth $462,121,000 after purchasing an additional 1,247,731 shares during the period. Finally, AQR Capital Management LLC lifted its position in Colgate-Palmolive by 58.6% in the second quarter. AQR Capital Management LLC now owns 2,416,943 shares of the company’s stock valued at $234,540,000 after purchasing an additional 892,706 shares during the last quarter. 80.41% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at Colgate-Palmolive

In other news, CFO Stanley J. Sutula III sold 45,410 shares of the firm’s stock in a transaction dated 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 owns 36,726 shares in the company, valued at approximately $3,456,283.86. This trade represents a 55.29 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 0.37% of the company’s stock.

Colgate-Palmolive Trading Up 0.9 %

Colgate-Palmolive stock opened at $88.61 on Friday. The stock has a market cap of $72.40 billion, a P/E ratio of 25.39, a PEG ratio of 3.01 and a beta of 0.44. The firm’s 50 day moving average price is $92.32 and its 200-day moving average price is $97.85. Colgate-Palmolive has a 1 year low of $79.69 and a 1 year high of $109.30. The company has a debt-to-equity ratio of 9.46, a current ratio of 1.04 and a quick ratio of 0.68.

Colgate-Palmolive Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, February 14th. Stockholders of record on Tuesday, January 21st will be paid a $0.50 dividend. This represents a $2.00 annualized dividend and a dividend yield of 2.26%. The ex-dividend date of this dividend is Tuesday, January 21st. Colgate-Palmolive’s payout ratio is 57.31%.

Wall Street Analyst Weigh In

Several research analysts have recently issued reports on CL shares. Piper Sandler cut their target price on shares of Colgate-Palmolive from $121.00 to $112.00 and set an “overweight” rating on the stock in a report on Monday, January 6th. JPMorgan Chase & Co. lowered their price objective on shares of Colgate-Palmolive from $109.00 to $103.00 and set an “overweight” rating for the company in a research note on Thursday. StockNews.com lowered Colgate-Palmolive from a “buy” rating to a “hold” rating in a research report on Thursday, January 9th. Wells Fargo & Company cut their target price on shares of Colgate-Palmolive from $92.00 to $83.00 and set an “underweight” rating on the stock in a research note on Tuesday, January 7th. Finally, UBS Group cut their price objective on Colgate-Palmolive from $112.00 to $104.00 and set a “buy” rating on the stock in a research report on Thursday. One research analyst has rated the stock with a sell rating, ten have issued a hold rating and twelve have given a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $102.11.

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.