Geode Capital Management LLC Grows Holdings in Colgate-Palmolive (NYSE:CL)

Geode Capital Management LLC raised its position in shares of Colgate-Palmolive (NYSE:CL) by 2.8% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 20,193,331 shares of the company’s stock after purchasing an additional 552,949 shares during the quarter. Geode Capital Management LLC owned 2.47% of Colgate-Palmolive worth $2,095,325,000 as of its most recent SEC filing.

Other hedge funds have also modified their holdings of the company. M&T Bank Corp boosted its holdings in Colgate-Palmolive by 8.2% in the 3rd quarter. M&T Bank Corp now owns 288,050 shares of the company’s stock worth $29,903,000 after buying an additional 21,862 shares during the period. Barclays PLC lifted its position in shares of Colgate-Palmolive by 38.7% in the third 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 in the last quarter. Continuum Advisory LLC boosted its stake in shares of Colgate-Palmolive by 93.4% in the third quarter. Continuum Advisory LLC now owns 762 shares of the company’s stock worth $79,000 after acquiring an additional 368 shares during the period. LRI Investments LLC grew its position in shares of Colgate-Palmolive by 75.4% during the third quarter. LRI Investments LLC now owns 5,437 shares of the company’s stock worth $564,000 after purchasing an additional 2,337 shares in the last quarter. Finally, SGL Investment Advisors Inc. bought a new stake in Colgate-Palmolive during the 3rd quarter valued at approximately $520,000. 80.41% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on CL shares. TD Cowen dropped their price target on Colgate-Palmolive from $115.00 to $110.00 and set a “buy” rating for the company in a research note on Monday, October 28th. JPMorgan Chase & Co. raised their target price on shares of Colgate-Palmolive from $113.00 to $114.00 and gave the company an “overweight” rating in a research note on Friday, October 11th. Piper Sandler assumed coverage on shares of Colgate-Palmolive in a research note on Tuesday, September 24th. They issued an “overweight” rating and a $121.00 price target on the stock. Deutsche Bank Aktiengesellschaft downgraded shares of Colgate-Palmolive from a “buy” rating to a “hold” rating and increased their price objective for the company from $107.00 to $109.00 in a report on Monday, September 9th. Finally, UBS Group lifted their target price on Colgate-Palmolive from $119.00 to $122.00 and gave the stock a “buy” rating in a report on Wednesday, September 4th. One research analyst has rated the stock with a sell rating, nine have given a hold rating and thirteen have assigned a buy rating to the stock. According to MarketBeat, Colgate-Palmolive has a consensus rating of “Moderate Buy” and a consensus price target of $105.11.

Colgate-Palmolive Trading Down 1.4 %

Shares of NYSE CL opened at $92.95 on Tuesday. Colgate-Palmolive has a fifty-two week low of $75.50 and a fifty-two week high of $109.30. The company has a debt-to-equity ratio of 9.46, a quick ratio of 0.68 and a current ratio of 1.04. The company has a market cap of $75.94 billion, a price-to-earnings ratio of 26.63, a PEG ratio of 3.36 and a beta of 0.43. The business’s 50 day moving average price is $96.33 and its 200-day moving average price is $98.65.

Colgate-Palmolive Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, November 15th. Shareholders of record on Friday, October 18th were paid a $0.50 dividend. The ex-dividend date of this dividend was Friday, October 18th. This represents a $2.00 dividend on an annualized basis and a yield of 2.15%. Colgate-Palmolive’s payout ratio is 57.31%.

Insider Transactions at Colgate-Palmolive

In other Colgate-Palmolive news, CFO Stanley J. Sutula III sold 45,410 shares of the firm’s stock in a transaction on Tuesday, November 5th. The stock was sold at an average price of $94.11, for a total transaction of $4,273,535.10. Following the transaction, the chief financial officer now directly owns 36,726 shares in the company, valued at $3,456,283.86. This trade represents a 55.29 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Corporate insiders own 0.37% of the company’s stock.

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.