Colgate-Palmolive (NYSE:CL) Shares Purchased by State Street Corp

State Street Corp boosted its holdings in Colgate-Palmolive (NYSE:CL) by 3.8% in the 3rd quarter, HoldingsChannel.com reports. The firm owned 48,436,276 shares of the company’s stock after buying an additional 1,784,411 shares during the quarter. State Street Corp owned about 0.06% of Colgate-Palmolive worth $5,028,170,000 at the end of the most recent quarter.

A number of other institutional investors have also recently added to or reduced their stakes in the company. Acadian Asset Management LLC boosted its holdings in Colgate-Palmolive by 108.4% in the second 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 last quarter. FMR LLC raised its stake in Colgate-Palmolive by 65.6% during the third quarter. FMR LLC now owns 6,749,275 shares of the company’s stock valued at $700,642,000 after buying an additional 2,674,807 shares in the last quarter. Massachusetts Financial Services Co. MA raised 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 valued at $870,400,000 after buying an additional 2,593,313 shares in the last quarter. AQR Capital Management LLC raised its stake in Colgate-Palmolive by 58.6% during the second quarter. AQR Capital Management LLC now owns 2,416,943 shares of the company’s stock valued at $234,540,000 after buying an additional 892,706 shares in the last quarter. Finally, Canada Pension Plan Investment Board raised its stake in Colgate-Palmolive by 38.8% during 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 buying an additional 710,500 shares in the last quarter. Hedge funds and other institutional investors own 80.41% of the company’s stock.

Insider Activity

In related news, CFO Stanley J. Sutula III sold 45,410 shares of the stock in a transaction on Tuesday, November 5th. The stock was sold at an average price of $94.11, for a total transaction of $4,273,535.10. Following the completion of the sale, the chief financial officer now directly owns 36,726 shares in the company, valued at approximately $3,456,283.86. This trade represents a 55.29 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 0.34% of the company’s stock.

Colgate-Palmolive Stock Performance

CL opened at $94.81 on Thursday. The business has a fifty day simple moving average of $96.89 and a 200-day simple moving average of $98.63. The firm has a market cap of $77.46 billion, a PE ratio of 27.17, a P/E/G ratio of 3.38 and a beta of 0.43. Colgate-Palmolive has a fifty-two week low of $75.50 and a fifty-two week high of $109.30. 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 Announces Dividend

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

Analyst Upgrades and Downgrades

Several analysts have issued reports on the company. Stifel Nicolaus cut Colgate-Palmolive from a “buy” rating to a “hold” rating and cut their price objective for the company from $105.00 to $101.00 in a research note on Monday, October 28th. TD Cowen cut their price objective 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. StockNews.com upgraded Colgate-Palmolive from a “hold” rating to a “buy” rating in a research report on Monday, November 25th. UBS Group increased their price target on Colgate-Palmolive from $119.00 to $122.00 and gave the stock a “buy” rating in a research report on Wednesday, September 4th. Finally, Wells Fargo & Company dropped their price target on Colgate-Palmolive from $100.00 to $92.00 and set an “underweight” rating on the stock in a research report on Monday, October 28th. One investment analyst has rated the stock with a sell rating, nine have given a hold rating and thirteen have issued a buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target 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.