Zacks Investment Management Boosts Holdings in Colgate-Palmolive (NYSE:CL)

Zacks Investment Management boosted its stake in shares of Colgate-Palmolive (NYSE:CL) by 928.1% during the 3rd quarter, Holdings Channel.com reports. The firm owned 45,224 shares of the company’s stock after purchasing an additional 40,825 shares during the quarter. Zacks Investment Management’s holdings in Colgate-Palmolive were worth $4,695,000 as of its most recent filing with the SEC.

Other institutional investors have also modified their holdings of the company. Zurich Insurance Group Ltd FI lifted its holdings in Colgate-Palmolive by 2,785.0% during the third quarter. Zurich Insurance Group Ltd FI now owns 574,117 shares of the company’s stock valued at $59,599,000 after purchasing an additional 554,217 shares in the last quarter. iSAM Funds UK Ltd acquired a new position in shares of Colgate-Palmolive during the 3rd quarter worth about $1,308,000. Castleark Management LLC lifted its stake in Colgate-Palmolive by 47.1% in the 3rd quarter. Castleark Management LLC now owns 325,133 shares of the company’s stock valued at $33,752,000 after buying an additional 104,080 shares in the last quarter. Goldstream Capital Management Ltd acquired a new stake in Colgate-Palmolive in the 3rd quarter worth about $284,000. Finally, Glen Eagle Advisors LLC increased its stake in Colgate-Palmolive by 21.0% during the 3rd quarter. Glen Eagle Advisors LLC now owns 1,152 shares of the company’s stock worth $120,000 after buying an additional 200 shares in the last quarter. Hedge funds and other institutional investors own 80.41% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts have weighed in on the company. Piper Sandler began coverage on Colgate-Palmolive in a report on Tuesday, September 24th. They issued an “overweight” rating and a $121.00 price objective on the stock. Wells Fargo & Company cut their price objective on shares of Colgate-Palmolive from $100.00 to $92.00 and set an “underweight” rating for the company in a research report on Monday, October 28th. Deutsche Bank Aktiengesellschaft lowered shares of Colgate-Palmolive from a “buy” rating to a “hold” rating and boosted their target price for the company from $107.00 to $109.00 in a report on Monday, September 9th. UBS Group raised their price target on shares of Colgate-Palmolive from $119.00 to $122.00 and gave the stock a “buy” rating in a report on Wednesday, September 4th. Finally, TD Cowen decreased 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 equities research analyst has rated the stock with a sell rating, nine have issued a hold rating and thirteen have assigned a buy rating to the stock. According to data from MarketBeat.com, Colgate-Palmolive currently has an average rating of “Moderate Buy” and an average target price of $105.11.

Colgate-Palmolive Stock Performance

NYSE:CL opened at $94.23 on Monday. Colgate-Palmolive has a 52 week low of $75.50 and a 52 week high of $109.30. The company has a fifty day simple moving average of $96.54 and a two-hundred day simple moving average of $98.66. The company has a quick ratio of 0.68, a current ratio of 1.04 and a debt-to-equity ratio of 9.46. The company has a market cap of $76.99 billion, a price-to-earnings ratio of 27.00, a price-to-earnings-growth ratio of 3.38 and a beta of 0.43.

Colgate-Palmolive Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, November 15th. Shareholders of record on Friday, October 18th were issued 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 yield of 2.12%. Colgate-Palmolive’s dividend payout ratio (DPR) is 57.31%.

Insider Buying and Selling at Colgate-Palmolive

In other news, CFO Stanley J. Sutula III sold 45,410 shares of Colgate-Palmolive stock in a transaction on Tuesday, November 5th. The shares were 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 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 document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 0.34% of the stock is owned by corporate insiders.

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.