Colgate-Palmolive (NYSE:CL) Shares Purchased by Massachusetts Financial Services Co. MA

Massachusetts Financial Services Co. MA boosted its holdings in shares of Colgate-Palmolive (NYSE:CL) by 6.2% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 9,526,990 shares of the company’s stock after purchasing an additional 557,492 shares during the period. Massachusetts Financial Services Co. MA’s holdings in Colgate-Palmolive were worth $988,997,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds also recently added to or reduced their stakes in the company. Covestor Ltd grew its holdings in Colgate-Palmolive by 26.9% during the first quarter. Covestor Ltd now owns 1,015 shares of the company’s stock worth $91,000 after acquiring an additional 215 shares during the period. Bessemer Group Inc. raised its position in shares of Colgate-Palmolive by 69.2% in the first quarter. Bessemer Group Inc. now owns 43,475 shares of the company’s stock worth $3,915,000 after acquiring an additional 17,773 shares during the period. Lake Street Advisors Group LLC raised its holdings in Colgate-Palmolive by 38.8% in the 1st quarter. Lake Street Advisors Group LLC now owns 4,930 shares of the company’s stock worth $444,000 after purchasing an additional 1,377 shares during the period. EP Wealth Advisors LLC grew its holdings in Colgate-Palmolive by 4.0% in the first quarter. EP Wealth Advisors LLC now owns 43,137 shares of the company’s stock valued at $3,884,000 after purchasing an additional 1,662 shares during the period. Finally, Advisors Asset Management Inc. raised its stake in shares of Colgate-Palmolive by 263.2% during the 1st quarter. Advisors Asset Management Inc. now owns 27,126 shares of the company’s stock worth $2,443,000 after buying an additional 19,657 shares during the period. 80.41% of the stock is owned by hedge funds and other institutional investors.

Colgate-Palmolive Trading Up 0.3 %

NYSE CL opened at $93.91 on Thursday. 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 stock has a market capitalization of $76.73 billion, a P/E ratio of 26.91, a PEG ratio of 3.34 and a beta of 0.42. The firm’s 50-day moving average is $98.56 and its two-hundred day moving average is $98.52. Colgate-Palmolive has a 12 month low of $75.39 and a 12 month high of $109.30.

Colgate-Palmolive Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, November 15th. Shareholders of record on Friday, October 18th were given a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a yield of 2.13%. The ex-dividend date of this dividend was Friday, October 18th. Colgate-Palmolive’s payout ratio is 57.31%.

Insiders Place Their Bets

In other Colgate-Palmolive news, CFO Stanley J. Sutula III sold 45,410 shares of the firm’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 owns 36,726 shares of the company’s stock, valued at $3,456,283.86. This trade represents a 55.29 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. Also, Director Martina Hundmejean sold 2,313 shares of Colgate-Palmolive stock in a transaction on Friday, August 23rd. The shares were sold at an average price of $103.86, for a total value 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 trade represents a 16.44 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.34% of the stock is owned by insiders.

Wall Street Analyst Weigh In

Several analysts have recently issued reports on the stock. Morgan Stanley lifted their target price on shares of Colgate-Palmolive from $103.00 to $111.00 and gave the company an “overweight” rating in a research report on Monday, July 29th. HSBC reiterated a “hold” rating on shares of Colgate-Palmolive in a research note on Friday, July 26th. 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. Jefferies Financial Group downgraded Colgate-Palmolive from a “buy” rating to a “hold” rating and reduced their price objective for the company from $103.00 to $95.00 in a research note on Wednesday, July 24th. Finally, Sanford C. Bernstein lifted their target price on shares of Colgate-Palmolive from $100.00 to $103.00 and gave the stock a “market perform” rating in a research note on Tuesday, July 30th. One equities research analyst has rated the stock with a sell rating, nine have given a hold rating and thirteen have assigned a buy rating to the company’s stock. According to MarketBeat, Colgate-Palmolive presently has an average rating of “Moderate Buy” and an average target price of $105.11.

Colgate-Palmolive 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.