Assenagon Asset Management S.A. Purchases 79,663 Shares of Colgate-Palmolive (NYSE:CL)

Assenagon Asset Management S.A. increased its stake in Colgate-Palmolive (NYSE:CL - Free Report) by 18.2% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 517,526 shares of the company's stock after acquiring an additional 79,663 shares during the period. Assenagon Asset Management S.A. owned approximately 0.06% of Colgate-Palmolive worth $47,048,000 at the end of the most recent reporting period.

Several other hedge funds also recently modified their holdings of CL. Reston Wealth Management LLC purchased a new stake in Colgate-Palmolive in the 3rd quarter worth about $42,000. Capital Performance Advisors LLP bought a new position in Colgate-Palmolive during the third quarter valued at about $53,000. Prospera Private Wealth LLC bought a new stake in Colgate-Palmolive during the third quarter worth approximately $64,000. True Wealth Design LLC grew its stake in Colgate-Palmolive by 1,460.9% in the 3rd quarter. True Wealth Design LLC now owns 718 shares of the company's stock valued at $75,000 after buying an additional 672 shares during the last quarter. Finally, Continuum Advisory LLC lifted its holdings in shares of Colgate-Palmolive by 93.4% during the third quarter. Continuum Advisory LLC now owns 762 shares of the company's stock worth $79,000 after buying an additional 368 shares during the last quarter. 80.41% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of research firms have recently issued reports on CL. TD Cowen lowered their price objective on Colgate-Palmolive from $110.00 to $100.00 and set a "buy" rating on the stock in a research report on Wednesday, January 8th. Piper Sandler decreased their price target on Colgate-Palmolive from $121.00 to $112.00 and set an "overweight" rating on the stock in a research report on Monday, January 6th. Wells Fargo & Company reduced their target price on shares of Colgate-Palmolive from $92.00 to $83.00 and set an "underweight" rating on the stock in a research report on Tuesday, January 7th. JPMorgan Chase & Co. lowered their price objective on Colgate-Palmolive from $109.00 to $103.00 and set an "overweight" rating for the company in a research report on Thursday. Finally, Stifel Nicolaus downgraded shares of Colgate-Palmolive from a "buy" rating to a "hold" rating and dropped their price target for the stock from $105.00 to $101.00 in a research note on Monday, October 28th. One investment analyst has rated the stock with a sell rating, ten have assigned a hold rating and twelve have issued a buy rating to the company's stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Hold" and a consensus price target of $103.05.

Colgate-Palmolive Price Performance

Shares of CL opened at $87.90 on Thursday. The company's fifty day simple moving average is $92.36 and its 200 day simple moving average is $97.92. Colgate-Palmolive has a 1-year low of $79.69 and a 1-year high of $109.30. The company has a market cap of $71.82 billion, a price-to-earnings ratio of 25.19, a PEG ratio of 3.01 and a beta of 0.44. The company has a current ratio of 1.04, a quick ratio of 0.68 and a debt-to-equity ratio of 9.46.

Colgate-Palmolive Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, February 14th. Investors of record on Tuesday, January 21st will be issued a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a yield of 2.28%. The ex-dividend date of this dividend is Tuesday, January 21st. Colgate-Palmolive's payout ratio is currently 57.31%.

Insiders Place Their Bets

In other news, CFO Stanley J. Sutula III sold 45,410 shares of the firm's stock in a transaction that occurred 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 transaction, the chief financial officer now directly owns 36,726 shares of the company's stock, valued at approximately $3,456,283.86. This trade represents a 55.29 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 0.37% of the company's stock.

Colgate-Palmolive 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.