Adams Diversified Equity Fund Inc. Trims Position in Colgate-Palmolive (NYSE:CL)

Adams Diversified Equity Fund Inc. lessened its stake in Colgate-Palmolive (NYSE:CL) by 28.5% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 195,000 shares of the company’s stock after selling 77,600 shares during the period. Adams Diversified Equity Fund Inc.’s holdings in Colgate-Palmolive were worth $20,243,000 as of its most recent SEC filing.

Several other institutional investors also recently added to or reduced their stakes in the stock. Price T Rowe Associates Inc. MD increased its position in Colgate-Palmolive by 27.8% during the 1st 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 during the period. Massachusetts Financial Services Co. MA increased its position 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 purchasing an additional 2,593,313 shares during the period. Legal & General Group Plc increased its position in Colgate-Palmolive by 0.8% during the 2nd quarter. Legal & General Group Plc now owns 7,785,101 shares of the company’s stock valued at $755,465,000 after purchasing an additional 61,413 shares during the period. GUARDCAP ASSET MANAGEMENT Ltd increased its position in Colgate-Palmolive by 4.1% during the 1st quarter. GUARDCAP ASSET MANAGEMENT Ltd now owns 6,987,454 shares of the company’s stock valued at $629,220,000 after purchasing an additional 278,150 shares during the period. Finally, Acadian Asset Management LLC increased its position in Colgate-Palmolive by 108.4% during the 2nd quarter. Acadian Asset Management LLC now owns 5,682,280 shares of the company’s stock valued at $551,367,000 after purchasing an additional 2,955,442 shares during the period. Hedge funds and other institutional investors own 80.41% of the company’s stock.

Colgate-Palmolive Stock Performance

Shares of NYSE CL opened at $94.75 on Wednesday. The company has a current ratio of 1.06, a quick ratio of 0.70 and a debt-to-equity ratio of 16.90. Colgate-Palmolive has a 12 month low of $72.36 and a 12 month high of $109.30. The company has a 50 day simple moving average of $102.86 and a two-hundred day simple moving average of $98.19. The stock has a market cap of $77.74 billion, a price-to-earnings ratio of 29.98, a PEG ratio of 3.54 and a beta of 0.40.

Colgate-Palmolive Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, November 15th. Shareholders of record on Friday, October 18th will be paid a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a yield of 2.11%. The ex-dividend date of this dividend is Friday, October 18th. Colgate-Palmolive’s payout ratio is 63.29%.

Insider Buying and Selling at Colgate-Palmolive

In other Colgate-Palmolive news, Director Martina Hundmejean sold 2,313 shares of Colgate-Palmolive 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 sale, the director now directly owns 11,755 shares in the company, valued at approximately $1,220,874.30. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In related news, insider Panagiotis Tsourapas sold 14,794 shares of the business’s stock in a transaction on Thursday, August 8th. The shares were sold at an average price of $102.94, for a total value of $1,522,894.36. Following the completion of the transaction, the insider now directly owns 5,146 shares in the company, valued at $529,729.24. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Martina Hundmejean sold 2,313 shares of the business’s stock in a transaction 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 owns 11,755 shares of the company’s stock, valued at approximately $1,220,874.30. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 43,490 shares of company stock worth $4,486,063. Company insiders own 0.34% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts have recently issued reports on the stock. Redburn Atlantic raised shares of Colgate-Palmolive to a “hold” rating in a research report on Thursday, August 1st. UBS Group lifted their price objective on shares of Colgate-Palmolive from $119.00 to $122.00 and gave the stock a “buy” rating in a research report on Wednesday, September 4th. Piper Sandler assumed coverage on shares of Colgate-Palmolive in a research report on Tuesday, September 24th. They issued an “overweight” rating and a $121.00 price objective on the stock. Barclays lifted their price objective 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, Sanford C. Bernstein lifted their price objective on shares of Colgate-Palmolive from $100.00 to $103.00 and gave the stock a “market perform” rating in a research report on Tuesday, July 30th. One analyst has rated the stock with a sell rating, ten have assigned a hold rating and twelve have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Colgate-Palmolive presently has an average rating of “Hold” and an average price target 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.