B&L Asset Management LLC Purchases Shares of 5,729 Colgate-Palmolive (NYSE:CL)

B&L Asset Management LLC acquired a new position in shares of Colgate-Palmolive (NYSE:CL) during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor acquired 5,729 shares of the company’s stock, valued at approximately $595,000.

Several other hedge funds have also modified their holdings of the stock. Acadian Asset Management LLC lifted its stake in Colgate-Palmolive by 108.4% in the second quarter. Acadian Asset Management LLC now owns 5,682,280 shares of the company’s stock worth $551,367,000 after acquiring an additional 2,955,442 shares during the last quarter. FMR LLC raised its holdings in shares of Colgate-Palmolive by 65.6% in the 3rd quarter. FMR LLC now owns 6,749,275 shares of the company’s stock valued at $700,642,000 after purchasing an additional 2,674,807 shares in the last quarter. Massachusetts Financial Services Co. MA lifted its position in shares of Colgate-Palmolive by 40.7% during the 2nd quarter. Massachusetts Financial Services Co. MA now owns 8,969,498 shares of the company’s stock worth $870,400,000 after purchasing an additional 2,593,313 shares during the last quarter. AQR Capital Management LLC grew its stake in shares of Colgate-Palmolive by 58.6% during the second quarter. AQR Capital Management LLC now owns 2,416,943 shares of the company’s stock worth $234,540,000 after purchasing an additional 892,706 shares in the last quarter. Finally, Canada Pension Plan Investment Board increased its holdings in Colgate-Palmolive by 38.8% in the second quarter. Canada Pension Plan Investment Board now owns 2,541,975 shares of the company’s stock valued at $246,673,000 after buying an additional 710,500 shares during the last quarter. 80.41% of the stock is currently owned by institutional investors and hedge funds.

Colgate-Palmolive Stock Down 0.1 %

Colgate-Palmolive stock opened at $96.63 on Friday. The stock has a market capitalization of $78.95 billion, a price-to-earnings ratio of 27.69, a PEG ratio of 3.45 and a beta of 0.42. 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 stock has a 50 day moving average of $97.38 and a two-hundred day moving average of $98.61. Colgate-Palmolive has a twelve month low of $75.50 and a twelve month high of $109.30.

Colgate-Palmolive Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, November 15th. Investors of record on Friday, October 18th were given a $0.50 dividend. The ex-dividend date was Friday, October 18th. This represents a $2.00 dividend on an annualized basis and a yield of 2.07%. Colgate-Palmolive’s dividend payout ratio (DPR) is 57.31%.

Insider Buying and Selling at Colgate-Palmolive

In related news, CFO Stanley J. Sutula III sold 45,410 shares of the stock in a transaction dated Tuesday, November 5th. The shares were sold at an average price of $94.11, for a total transaction of $4,273,535.10. Following the completion of the transaction, the chief financial officer now directly owns 36,726 shares of the company’s stock, valued at $3,456,283.86. This represents a 55.29 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this link. 0.34% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

Several research analysts have recently issued reports on CL shares. Wells Fargo & Company lowered their price objective on Colgate-Palmolive from $100.00 to $92.00 and set an “underweight” rating for the company in a research report on Monday, October 28th. UBS Group upped their price target on Colgate-Palmolive from $119.00 to $122.00 and gave the company a “buy” rating in a report on Wednesday, September 4th. Piper Sandler began coverage on shares of Colgate-Palmolive in a report on Tuesday, September 24th. They set an “overweight” rating and a $121.00 price objective on the stock. TD Cowen reduced their price objective on shares of Colgate-Palmolive from $115.00 to $110.00 and set a “buy” rating for the company in a research report on Monday, October 28th. Finally, StockNews.com raised shares of Colgate-Palmolive from a “hold” rating to a “buy” rating in a research report on Monday, November 25th. One analyst has rated the stock with a sell rating, nine have issued a hold rating and thirteen have assigned a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $105.11.

Colgate-Palmolive Company 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.