Claro Advisors LLC Boosts Stock Holdings in Colgate-Palmolive (NYSE:CL)

Claro Advisors LLC grew its stake in shares of Colgate-Palmolive (NYSE:CL) by 6.6% in the 3rd quarter, Holdings Channel reports. The institutional investor owned 22,180 shares of the company’s stock after buying an additional 1,364 shares during the quarter. Claro Advisors LLC’s holdings in Colgate-Palmolive were worth $2,303,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also made changes to their positions in the company. Price T Rowe Associates Inc. MD raised its holdings in shares of Colgate-Palmolive by 27.8% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 41,067,130 shares of the company’s stock worth $3,698,096,000 after purchasing an additional 8,933,912 shares during the period. Swedbank AB purchased a new position in Colgate-Palmolive in the first quarter valued at approximately $286,370,000. Acadian Asset Management LLC lifted its position in Colgate-Palmolive by 108.4% during the second 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 grew its stake in Colgate-Palmolive by 40.7% during the second quarter. Massachusetts Financial Services Co. MA now owns 8,969,498 shares of the company’s stock worth $870,400,000 after buying an additional 2,593,313 shares during the period. Finally, Ossiam raised its stake 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. 80.41% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of brokerages recently weighed in on CL. Redburn Atlantic raised shares of Colgate-Palmolive to a “hold” rating in a research report on Thursday, August 1st. Jefferies Financial Group lowered Colgate-Palmolive from a “buy” rating to a “hold” rating and lowered their target price for the company from $103.00 to $95.00 in a research note on Wednesday, July 24th. JPMorgan Chase & Co. boosted their price target on Colgate-Palmolive from $113.00 to $114.00 and gave the stock an “overweight” rating in a research report on Friday, October 11th. 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 for the company. Finally, Hsbc Global Res downgraded shares of Colgate-Palmolive from a “strong-buy” rating to a “hold” rating in a research report on Friday, July 26th. One research analyst has rated the stock with a sell rating, nine have assigned a hold rating and thirteen have given a buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $105.11.

Insider Buying and Selling

In other Colgate-Palmolive news, Director Martina Hundmejean sold 2,313 shares of the firm’s stock in a transaction dated Friday, August 23rd. The shares were sold at an average price of $103.86, for a total transaction of $240,228.18. Following the transaction, the director now owns 11,755 shares of the company’s stock, valued at approximately $1,220,874.30. This trade represents a 16.44 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Stanley J. Sutula III sold 45,410 shares of the business’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 value of $4,273,535.10. Following the sale, the chief financial officer now directly owns 36,726 shares in the company, valued at approximately $3,456,283.86. The trade was a 55.29 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 0.34% of the company’s stock.

Colgate-Palmolive Trading Up 2.3 %

NYSE:CL opened at $93.56 on Friday. Colgate-Palmolive has a 12-month low of $75.17 and a 12-month high of $109.30. The company has a debt-to-equity ratio of 9.46, a current ratio of 1.04 and a quick ratio of 0.68. The business has a 50 day simple moving average of $99.31 and a 200 day simple moving average of $98.49. The firm has a market capitalization of $76.44 billion, a P/E ratio of 26.81, a P/E/G 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 given 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 2.14%. Colgate-Palmolive’s dividend payout ratio is currently 57.31%.

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.