Stevens Capital Management LP Raises Stock Holdings in Colgate-Palmolive (NYSE:CL)

Stevens Capital Management LP raised its position in Colgate-Palmolive (NYSE:CL) by 300.7% in the 3rd quarter, HoldingsChannel.com reports. The fund owned 8,728 shares of the company’s stock after acquiring an additional 6,550 shares during the quarter. Stevens Capital Management LP’s holdings in Colgate-Palmolive were worth $906,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also made changes to their positions in the company. Massachusetts Financial Services Co. MA lifted its stake in Colgate-Palmolive by 6.2% during the third quarter. Massachusetts Financial Services Co. MA now owns 9,526,990 shares of the company’s stock worth $988,997,000 after purchasing an additional 557,492 shares during the last quarter. Legal & General Group Plc lifted its stake in Colgate-Palmolive by 0.8% in the second quarter. Legal & General Group Plc now owns 7,785,101 shares of the company’s stock valued at $755,465,000 after buying an additional 61,413 shares during the last quarter. FMR LLC lifted its stake in Colgate-Palmolive by 65.6% in 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 during the last quarter. Acadian Asset Management LLC raised its stake in shares of Colgate-Palmolive by 108.4% during 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. Finally, Charles Schwab Investment Management Inc. raised its stake in shares of Colgate-Palmolive by 0.3% during 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. 80.41% of the stock is owned by institutional investors and hedge funds.

Colgate-Palmolive Trading Up 0.2 %

Shares of NYSE CL opened at $94.81 on Thursday. The company has a market cap of $77.46 billion, a price-to-earnings ratio of 27.17, a price-to-earnings-growth ratio of 3.38 and a beta of 0.43. Colgate-Palmolive has a 12-month low of $75.50 and a 12-month high of $109.30. The company has a current ratio of 1.04, a quick ratio of 0.68 and a debt-to-equity ratio of 9.46. The stock’s 50 day simple moving average is $96.89 and its 200 day simple moving average is $98.63.

Colgate-Palmolive Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, November 15th. Shareholders of record on Friday, October 18th were 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 was Friday, October 18th. Colgate-Palmolive’s payout ratio is currently 57.31%.

Analyst Ratings Changes

Several equities research analysts have recently commented on the company. Piper Sandler assumed coverage on Colgate-Palmolive in a research note on Tuesday, September 24th. They set an “overweight” rating and a $121.00 price target for the company. JPMorgan Chase & Co. upped their price objective on Colgate-Palmolive from $113.00 to $114.00 and gave the stock an “overweight” rating in a report on Friday, October 11th. StockNews.com raised Colgate-Palmolive from a “hold” rating to a “buy” rating in a report on Monday, November 25th. Stifel Nicolaus lowered Colgate-Palmolive from a “buy” rating to a “hold” rating and dropped their price objective for the stock from $105.00 to $101.00 in a report on Monday, October 28th. Finally, TD Cowen dropped their price objective on Colgate-Palmolive from $115.00 to $110.00 and set a “buy” rating on the stock in a report on Monday, October 28th. One analyst has rated the stock with a sell rating, nine have given a hold rating and thirteen have given a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $105.11.

Insider Buying and Selling at Colgate-Palmolive

In other news, CFO Stanley J. Sutula III sold 45,410 shares of the business’s stock in a transaction 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 owns 36,726 shares of the company’s stock, valued at approximately $3,456,283.86. The trade was a 55.29 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 0.34% of the stock is owned by company insiders.

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.