Cerity Partners LLC Buys 48,024 Shares of Colgate-Palmolive (NYSE:CL)

Cerity Partners LLC grew its stake in shares of Colgate-Palmolive (NYSE:CL) by 28.6% in the third quarter, Holdings Channel reports. The fund owned 215,839 shares of the company’s stock after acquiring an additional 48,024 shares during the quarter. Cerity Partners LLC’s holdings in Colgate-Palmolive were worth $22,406,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors also recently modified their holdings of CL. Swedbank AB purchased a new position in shares of Colgate-Palmolive in the first quarter worth about $286,370,000. Acadian Asset Management LLC grew its stake in 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 buying an additional 2,955,442 shares in the last quarter. Massachusetts Financial Services Co. MA raised its holdings in 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 valued at $870,400,000 after acquiring an additional 2,593,313 shares during the period. AQR Capital Management LLC lifted its position 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 acquiring an additional 892,706 shares in the last quarter. Finally, Canada Pension Plan Investment Board boosted its position in shares of 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 acquiring an additional 710,500 shares during the period. Hedge funds and other institutional investors own 80.41% of the company’s stock.

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 stock was sold at an average price of $94.11, for a total value of $4,273,535.10. Following the completion of 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 ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Insiders own 0.34% of the company’s stock.

Colgate-Palmolive Stock Performance

Shares of Colgate-Palmolive stock opened at $94.92 on Monday. The company has a 50 day moving average price of $98.10 and a 200 day moving average price of $98.57. The firm has a market capitalization of $77.55 billion, a P/E ratio of 27.20, a PEG ratio of 3.36 and a beta of 0.42. The company has a quick ratio of 0.68, a current ratio of 1.04 and a debt-to-equity ratio of 9.46. Colgate-Palmolive has a 52 week low of $75.50 and a 52 week high of $109.30.

Colgate-Palmolive Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, November 15th. Stockholders of record on Friday, October 18th were paid a dividend of $0.50 per share. The ex-dividend date of this dividend was Friday, October 18th. This represents a $2.00 annualized dividend and a dividend yield of 2.11%. Colgate-Palmolive’s payout ratio is currently 57.31%.

Wall Street Analyst Weigh In

A number of equities analysts have recently commented on the stock. Wells Fargo & Company decreased their price target on shares of Colgate-Palmolive from $100.00 to $92.00 and set an “underweight” rating on the stock in a report on Monday, October 28th. Deutsche Bank Aktiengesellschaft downgraded shares of Colgate-Palmolive from a “buy” rating to a “hold” rating and lifted their price target for the stock from $107.00 to $109.00 in a research note on Monday, September 9th. Redburn Atlantic upgraded shares of Colgate-Palmolive to a “hold” rating in a report on Thursday, August 1st. Barclays lifted their target price on shares of Colgate-Palmolive from $91.00 to $96.00 and gave the stock an “equal weight” rating in a research report on Monday, July 29th. Finally, Piper Sandler assumed coverage on shares of Colgate-Palmolive in a research report on Tuesday, September 24th. They set an “overweight” rating and a $121.00 price target for the company. One research 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, Colgate-Palmolive 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.