First Citizens Bank & Trust Co. increased its holdings in shares of Colgate-Palmolive (NYSE:CL) by 43.2% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 24,548 shares of the company’s stock after acquiring an additional 7,400 shares during the quarter. First Citizens Bank & Trust Co.’s holdings in Colgate-Palmolive were worth $1,894,000 at the end of the most recent quarter.
A number of other institutional investors and hedge funds have also added to or reduced their stakes in CL. Capital World Investors acquired a new stake in Colgate-Palmolive during the first quarter worth about $829,740,000. Nordea Investment Management AB raised its stake in Colgate-Palmolive by 76.1% during the second quarter. Nordea Investment Management AB now owns 2,750,788 shares of the company’s stock worth $200,064,000 after acquiring an additional 1,188,507 shares during the period. The Manufacturers Life Insurance Company grew its position in Colgate-Palmolive by 113.4% in the 1st quarter. The Manufacturers Life Insurance Company now owns 1,761,507 shares of the company’s stock worth $116,893,000 after purchasing an additional 935,897 shares during the last quarter. Advisor Group Holdings Inc. bought a new position in Colgate-Palmolive in the 1st quarter worth about $33,875,000. Finally, M&G Investment Management Ltd. grew its position in Colgate-Palmolive by 62.9% in the 2nd quarter. M&G Investment Management Ltd. now owns 1,853,623 shares of the company’s stock worth $135,314,000 after purchasing an additional 715,773 shares during the last quarter. Hedge funds and other institutional investors own 76.74% of the company’s stock.
Colgate-Palmolive stock opened at $80.31 on Friday. The firm has a 50 day simple moving average of $77.55 and a 200-day simple moving average of $73.84. The company has a debt-to-equity ratio of 9.40, a current ratio of 0.92 and a quick ratio of 0.59. The stock has a market capitalization of $68.86 billion, a PE ratio of 26.86, a price-to-earnings-growth ratio of 4.63 and a beta of 0.59. Colgate-Palmolive has a 12-month low of $58.49 and a 12-month high of $80.99.
The firm also recently announced a quarterly dividend, which will be paid on Monday, November 16th. Investors of record on Friday, October 23rd will be paid a dividend of $0.44 per share. This represents a $1.76 annualized dividend and a yield of 2.19%. The ex-dividend date is Thursday, October 22nd. Colgate-Palmolive’s dividend payout ratio is presently 62.19%.
CL has been the subject of several recent analyst reports. TheStreet upgraded shares of Colgate-Palmolive from a “c+” rating to a “b+” rating in a research report on Friday, July 31st. Morgan Stanley upped their target price on shares of Colgate-Palmolive from $78.00 to $80.00 and gave the stock an “equal weight” rating in a research report on Monday, August 3rd. Deutsche Bank Aktiengesellschaft upped their target price on shares of Colgate-Palmolive from $75.00 to $78.00 and gave the stock a “hold” rating in a research report on Monday, August 3rd. Finally, Royal Bank of Canada restated a “buy” rating and issued a $88.00 target price on shares of Colgate-Palmolive in a research report on Thursday, July 30th. Three investment analysts have rated the stock with a sell rating, four have assigned a hold rating and six have issued a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and an average target price of $75.27.
In related news, insider Jennifer Daniels sold 41,386 shares of the stock in a transaction that occurred on Thursday, August 6th. The shares were sold at an average price of $75.80, for a total transaction of $3,137,058.80. Following the completion of the sale, the insider now directly owns 76,228 shares of the company’s stock, valued at $5,778,082.40. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider Sally Massey sold 387 shares of the stock in a transaction that occurred on Monday, September 28th. The shares were sold at an average price of $77.30, for a total transaction of $29,915.10. Following the sale, the insider now directly owns 4,856 shares of the company’s stock, valued at $375,368.80. The disclosure for this sale can be found here. Over the last three months, insiders have sold 256,994 shares of company stock valued at $19,678,851. Company insiders own 0.78% of the company’s stock.
Colgate-Palmolive Company, together with its subsidiaries, manufactures and sells consumer products worldwide. The company operates through two segments, Oral, Personal and Home Care; and Pet Nutrition. It offers oral care products, including toothpastes, toothbrushes, and mouthwashes, as well as pharmaceutical products for dentists and other oral health professionals; and personal care products, such as liquid hand soaps, bar soaps, shower gels, deodorants and antiperspirants, skin care products, and shampoos and conditioners.
Featured Article: Coverage Ratio
Want to see what other hedge funds are holding CL? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Colgate-Palmolive (NYSE:CL).
Receive News & Ratings for Colgate-Palmolive Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Colgate-Palmolive and related companies with MarketBeat.com's FREE daily email newsletter.