Independent Advisor Alliance Grows Stock Position in Colgate-Palmolive (NYSE:CL)

Independent Advisor Alliance lifted its stake in Colgate-Palmolive (NYSE:CL) by 1.8% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 28,289 shares of the company’s stock after buying an additional 497 shares during the period. Independent Advisor Alliance’s holdings in Colgate-Palmolive were worth $2,937,000 as of its most recent SEC filing.

Several other large investors have also recently modified their holdings of the stock. Massachusetts Financial Services Co. MA increased its holdings in shares of Colgate-Palmolive by 6.2% in the third quarter. Massachusetts Financial Services Co. MA now owns 9,526,990 shares of the company’s stock worth $988,997,000 after buying an additional 557,492 shares during the period. Legal & General Group Plc grew its stake in shares of Colgate-Palmolive by 0.8% in the second quarter. Legal & General Group Plc now owns 7,785,101 shares of the company’s stock worth $755,465,000 after purchasing an additional 61,413 shares during the last quarter. Acadian Asset Management LLC grew its stake in shares of 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 purchasing an additional 2,955,442 shares during the last quarter. Charles Schwab Investment Management Inc. grew its stake in shares of Colgate-Palmolive by 0.3% in the third quarter. Charles Schwab Investment Management Inc. now owns 4,595,245 shares of the company’s stock worth $477,032,000 after purchasing an additional 11,750 shares during the last quarter. Finally, Dimensional Fund Advisors LP grew its stake in shares of Colgate-Palmolive by 19.2% in the second quarter. Dimensional Fund Advisors LP now owns 3,503,450 shares of the company’s stock worth $340,006,000 after purchasing an additional 565,524 shares during the last quarter. Hedge funds and other institutional investors own 80.41% of the company’s stock.

Insider Buying and Selling

In related news, CFO Stanley J. Sutula III sold 45,410 shares of the business’s stock in a transaction that occurred on Tuesday, November 5th. The shares were 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. The trade was a 55.29 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 0.37% of the stock is owned by company insiders.

Analysts Set New Price Targets

Several analysts recently issued reports on CL shares. Barclays raised their target price on Colgate-Palmolive from $91.00 to $96.00 and gave the stock an “equal weight” rating in a research note on Monday, July 29th. TD Cowen cut their target price on Colgate-Palmolive from $115.00 to $110.00 and set a “buy” rating on the stock in a research note on Monday, October 28th. JPMorgan Chase & Co. raised their target price on Colgate-Palmolive from $113.00 to $114.00 and gave the stock an “overweight” rating in a research note on Friday, October 11th. Piper Sandler started coverage on Colgate-Palmolive in a research note on Tuesday, September 24th. They issued an “overweight” rating and a $121.00 target price on the stock. Finally, Stifel Nicolaus cut 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. One research analyst has rated the stock with a sell rating, nine have assigned a hold rating and thirteen have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $105.11.

Colgate-Palmolive Stock Performance

Shares of CL opened at $95.34 on Tuesday. The company has a quick ratio of 0.68, a current ratio of 1.04 and a debt-to-equity ratio of 9.46. The business’s 50 day moving average price is $97.90 and its 200-day moving average price is $98.58. Colgate-Palmolive has a 52 week low of $75.50 and a 52 week high of $109.30. The stock has a market cap of $77.89 billion, a P/E ratio of 27.32, a P/E/G ratio of 3.39 and a beta of 0.42.

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 issued 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 2.10%. Colgate-Palmolive’s payout ratio is currently 57.31%.

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.