Algert Global LLC Grows Position in Colgate-Palmolive (NYSE:CL)

Algert Global LLC raised its position in shares of Colgate-Palmolive (NYSE:CL) by 830.4% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 47,739 shares of the company’s stock after acquiring an additional 42,608 shares during the period. Algert Global LLC’s holdings in Colgate-Palmolive were worth $4,956,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Swedbank AB bought a new position in Colgate-Palmolive during the first quarter valued at $286,370,000. Acadian Asset Management LLC lifted its holdings in shares of Colgate-Palmolive by 108.4% in the 2nd quarter. Acadian Asset Management LLC now owns 5,682,280 shares of the company’s stock valued at $551,367,000 after acquiring an additional 2,955,442 shares during the last quarter. Massachusetts Financial Services Co. MA grew its position in Colgate-Palmolive by 40.7% in the second quarter. Massachusetts Financial Services Co. MA now owns 8,969,498 shares of the company’s stock worth $870,400,000 after acquiring an additional 2,593,313 shares in the last quarter. AQR Capital Management LLC increased 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 worth $234,540,000 after acquiring an additional 892,706 shares during the last quarter. Finally, Canada Pension Plan Investment Board raised its position 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 purchasing an additional 710,500 shares during the period. 80.41% of the stock is currently owned by institutional investors.

Colgate-Palmolive Price Performance

Shares of CL opened at $94.92 on Monday. The company has a 50 day moving average of $98.10 and a two-hundred day moving average of $98.57. 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 has a twelve month low of $75.50 and a twelve month high of $109.30. The company has a market cap of $77.55 billion, a price-to-earnings ratio of 27.20, a price-to-earnings-growth ratio of 3.36 and a beta of 0.42.

Colgate-Palmolive Announces Dividend

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

Analyst Upgrades and Downgrades

CL has been the subject of a number of analyst reports. Piper Sandler began coverage on Colgate-Palmolive in a research report on Tuesday, September 24th. They issued an “overweight” rating and a $121.00 price target for the company. Sanford C. Bernstein raised their price target on Colgate-Palmolive from $100.00 to $103.00 and gave the stock a “market perform” rating in a research note on Tuesday, July 30th. Redburn Atlantic raised Colgate-Palmolive to a “hold” rating in a research report on Thursday, August 1st. StockNews.com upgraded Colgate-Palmolive from a “hold” rating to a “buy” rating in a research report on Thursday, November 14th. Finally, Wells Fargo & Company cut their price target on shares of Colgate-Palmolive from $100.00 to $92.00 and set an “underweight” rating on the stock in a report on Monday, October 28th. One investment analyst has rated the stock with a sell rating, nine have issued a hold rating and thirteen have given a buy rating to the stock. According to data from MarketBeat.com, Colgate-Palmolive has a consensus rating of “Moderate Buy” and a consensus target price of $105.11.

Insiders Place Their Bets

In related news, CFO Stanley J. Sutula III sold 45,410 shares of the company’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 transaction, the chief financial officer now directly owns 36,726 shares of the company’s stock, valued at $3,456,283.86. This represents a 55.29 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Corporate insiders own 0.34% of the company’s stock.

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.