Manning & Napier Advisors LLC Acquires Shares of 36,226 Colgate-Palmolive (NYSE:CL)

Manning & Napier Advisors LLC bought a new position in Colgate-Palmolive (NYSE:CL) during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm bought 36,226 shares of the company’s stock, valued at approximately $3,293,000.

Other hedge funds also recently made changes to their positions in the company. Algert Global LLC lifted its holdings in Colgate-Palmolive by 14.4% in the 2nd quarter. Algert Global LLC now owns 5,131 shares of the company’s stock worth $498,000 after buying an additional 647 shares during the period. NewEdge Advisors LLC raised its holdings in shares of Colgate-Palmolive by 11.7% during the second quarter. NewEdge Advisors LLC now owns 51,375 shares of the company’s stock valued at $4,985,000 after acquiring an additional 5,363 shares in the last quarter. B. Riley Wealth Advisors Inc. lifted its stake in Colgate-Palmolive by 7.3% in the second quarter. B. Riley Wealth Advisors Inc. now owns 17,851 shares of the company’s stock worth $1,732,000 after acquiring an additional 1,212 shares during the period. SPC Financial Inc. bought a new stake in Colgate-Palmolive in the second quarter valued at $227,000. Finally, 3Chopt Investment Partners LLC purchased a new position in Colgate-Palmolive during the 2nd quarter valued at $400,000. 80.41% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

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

Wall Street Analysts Forecast Growth

CL has been the topic of a number of research reports. Barclays cut their target price on shares of Colgate-Palmolive from $96.00 to $83.00 and set an “equal weight” rating on the stock in a research note on Friday, January 17th. StockNews.com cut Colgate-Palmolive from a “buy” rating to a “hold” rating in a research report on Thursday, January 9th. TD Cowen lowered their target price on Colgate-Palmolive from $110.00 to $100.00 and set a “buy” rating for the company in a research note on Wednesday, January 8th. Wells Fargo & Company reduced their price target on Colgate-Palmolive from $92.00 to $83.00 and set an “underweight” rating on the stock in a research note on Tuesday, January 7th. Finally, Piper Sandler lowered their price objective on Colgate-Palmolive from $121.00 to $112.00 and set an “overweight” rating for the company in a research report on Monday, January 6th. One analyst has rated the stock with a sell rating, ten have issued a hold rating and eleven have given a buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Hold” and an average target price of $102.00.

Colgate-Palmolive Stock Performance

Shares of CL opened at $89.65 on Thursday. Colgate-Palmolive has a 12 month low of $82.68 and a 12 month high of $109.30. The business’s fifty day simple moving average is $91.67 and its two-hundred day simple moving average is $97.34. 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 company has a market cap of $73.24 billion, a price-to-earnings ratio of 25.69, a P/E/G ratio of 3.59 and a beta of 0.44.

Colgate-Palmolive Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, February 14th. Shareholders of record on Tuesday, January 21st will be given a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a yield of 2.23%. The ex-dividend date is Tuesday, January 21st. Colgate-Palmolive’s dividend payout ratio (DPR) is 57.31%.

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.