Federated Hermes Inc. Sells 82,195 Shares of Colgate-Palmolive Company (NYSE:CL)

Federated Hermes Inc. trimmed its stake in shares of Colgate-Palmolive Company (NYSE:CL) by 12.0% in the first quarter, Holdings Channel.com reports. The fund owned 600,174 shares of the company’s stock after selling 82,195 shares during the quarter. Federated Hermes Inc.’s holdings in Colgate-Palmolive were worth $56,236,000 at the end of the most recent quarter.

A number of other hedge funds also recently made changes to their positions in the stock. Cornerstone Wealth Management LLC raised its position in shares of Colgate-Palmolive by 1.2% during the first quarter. Cornerstone Wealth Management LLC now owns 9,035 shares of the company’s stock worth $847,000 after acquiring an additional 110 shares during the last quarter. Wescott Financial Advisory Group LLC grew its stake in Colgate-Palmolive by 3.5% during the fourth quarter. Wescott Financial Advisory Group LLC now owns 3,517 shares of the company’s stock worth $320,000 after purchasing an additional 119 shares during the period. Aberdeen Wealth Management LLC grew its stake in Colgate-Palmolive by 0.6% during the fourth quarter. Aberdeen Wealth Management LLC now owns 20,651 shares of the company’s stock worth $1,877,000 after purchasing an additional 125 shares during the period. Town & Country Bank & Trust CO dba First Bankers Trust CO grew its stake in Colgate-Palmolive by 4.0% during the first quarter. Town & Country Bank & Trust CO dba First Bankers Trust CO now owns 3,388 shares of the company’s stock worth $317,000 after purchasing an additional 130 shares during the period. Finally, Continuum Advisory LLC grew its stake in Colgate-Palmolive by 17.2% during the fourth quarter. Continuum Advisory LLC now owns 893 shares of the company’s stock worth $81,000 after purchasing an additional 131 shares during the period. 80.41% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

CL has been the subject of several recent analyst reports. Barclays raised their target price on Colgate-Palmolive from $86.00 to $87.00 and gave the stock an “equal weight” rating in a research note on Tuesday, July 15th. UBS Group decreased their target price on Colgate-Palmolive from $109.00 to $106.00 and set a “buy” rating for the company in a research note on Thursday, July 17th. Wall Street Zen cut Colgate-Palmolive from a “buy” rating to a “hold” rating in a research note on Wednesday, May 7th. Wells Fargo & Company raised their target price on Colgate-Palmolive from $83.00 to $88.00 and gave the stock an “underweight” rating in a research note on Wednesday, April 2nd. Finally, JPMorgan Chase & Co. decreased their target price on Colgate-Palmolive from $103.00 to $99.00 and set an “overweight” rating for the company in a research note on Friday, July 25th. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating and seven have issued a buy rating to the company. Based on data from MarketBeat, Colgate-Palmolive presently has an average rating of “Hold” and an average price target of $100.77.

Colgate-Palmolive Trading Up 0.5%

Shares of Colgate-Palmolive stock opened at $86.87 on Wednesday. The company has a debt-to-equity ratio of 8.96, a quick ratio of 0.54 and a current ratio of 0.85. Colgate-Palmolive Company has a 52 week low of $85.32 and a 52 week high of $109.30. The stock has a 50 day moving average price of $90.03 and a two-hundred day moving average price of $90.36. The stock has a market capitalization of $70.40 billion, a PE ratio of 24.54, a price-to-earnings-growth ratio of 4.46 and a beta of 0.37.

Colgate-Palmolive Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, August 15th. Investors of record on Friday, July 18th will be given a dividend of $0.52 per share. The ex-dividend date is Friday, July 18th. This represents a $2.08 annualized dividend and a dividend yield of 2.39%. Colgate-Palmolive’s payout ratio is 58.76%.

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.