Braun Stacey Associates Inc. Buys New Shares in Colgate-Palmolive (NYSE:CL)

Braun Stacey Associates Inc. bought a new stake in Colgate-Palmolive (NYSE:CL) in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm bought 230,820 shares of the company’s stock, valued at approximately $23,961,000.

A number of other hedge funds have also added to or reduced their stakes in CL. Price T Rowe Associates Inc. MD grew its position in Colgate-Palmolive by 27.8% in the first quarter. Price T Rowe Associates Inc. MD now owns 41,067,130 shares of the company’s stock valued at $3,698,096,000 after purchasing an additional 8,933,912 shares in the last quarter. Swedbank AB bought a new position in shares of Colgate-Palmolive in the 1st quarter valued at about $286,370,000. Acadian Asset Management LLC grew its position in shares of Colgate-Palmolive by 108.4% in the 2nd quarter. Acadian Asset Management LLC now owns 5,682,280 shares of the company’s stock valued at $551,367,000 after acquiring an additional 2,955,442 shares during the period. Massachusetts Financial Services Co. MA grew its position in shares of 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 valued at $870,400,000 after acquiring an additional 2,593,313 shares during the period. Finally, Ossiam grew its position in shares of Colgate-Palmolive by 368.4% in the 1st quarter. Ossiam now owns 1,563,768 shares of the company’s stock valued at $140,817,000 after acquiring an additional 1,229,891 shares during the period. Institutional investors own 80.41% of the company’s stock.

Colgate-Palmolive Stock Performance

Shares of Colgate-Palmolive stock opened at $93.56 on Monday. The company has a 50 day moving average of $99.31 and a 200-day moving average of $98.54. Colgate-Palmolive has a 1-year low of $75.17 and a 1-year high of $109.30. The company has a current ratio of 1.04, a quick ratio of 0.68 and a debt-to-equity ratio of 9.46. The company has a market cap of $76.44 billion, a PE ratio of 26.81, a price-to-earnings-growth ratio of 3.34 and a beta of 0.42.

Colgate-Palmolive Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, November 15th. Stockholders of record on Friday, October 18th were issued a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a dividend yield of 2.14%. The ex-dividend date of this dividend was Friday, October 18th. Colgate-Palmolive’s dividend payout ratio (DPR) is presently 57.31%.

Insider Transactions at Colgate-Palmolive

In related news, Director Martina Hundmejean sold 2,313 shares of the company’s stock in a transaction that occurred on Friday, August 23rd. The shares were sold at an average price of $103.86, for a total transaction of $240,228.18. Following the completion of the transaction, the director now directly owns 11,755 shares in the company, valued at $1,220,874.30. This represents a 16.44 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Stanley J. Sutula III sold 45,410 shares of the company’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 transaction of $4,273,535.10. Following the transaction, the chief financial officer now owns 36,726 shares of the company’s stock, valued at approximately $3,456,283.86. This represents a 55.29 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.34% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on CL. StockNews.com raised shares of Colgate-Palmolive from a “hold” rating to a “buy” rating in a research report on Thursday. Jefferies Financial Group downgraded shares of Colgate-Palmolive from a “buy” rating to a “hold” rating and decreased their price objective for the company from $103.00 to $95.00 in a research report on Wednesday, July 24th. Stifel Nicolaus cut shares of Colgate-Palmolive from a “buy” rating to a “hold” rating and cut their target price for the stock from $105.00 to $101.00 in a research note on Monday, October 28th. Piper Sandler assumed coverage on shares of Colgate-Palmolive in a research note on Tuesday, September 24th. They set an “overweight” rating and a $121.00 target price for the company. Finally, Wells Fargo & Company cut their target price on shares of Colgate-Palmolive from $100.00 to $92.00 and set an “underweight” rating for the company in a research note on Monday, October 28th. One investment analyst has rated the stock with a sell rating, nine have given a hold rating and thirteen have given a buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $105.11.

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.