Principal Financial Group Inc. Boosts Stake in Colgate-Palmolive (NYSE:CL)

Principal Financial Group Inc. boosted its position in shares of Colgate-Palmolive (NYSE:CL - Free Report) by 4.9% during the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 997,147 shares of the company's stock after purchasing an additional 46,944 shares during the quarter. Principal Financial Group Inc. owned about 0.12% of Colgate-Palmolive worth $103,514,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also bought and sold shares of the company. Reston Wealth Management LLC bought a new stake in Colgate-Palmolive during the 3rd quarter valued at $42,000. Capital Performance Advisors LLP bought a new stake in Colgate-Palmolive during the third quarter valued at about $53,000. Prospera Private Wealth LLC purchased a new position in Colgate-Palmolive in the third quarter valued at about $64,000. Financial Connections Group Inc. bought a new position in Colgate-Palmolive in the second quarter worth about $68,000. Finally, True Wealth Design LLC lifted its position in shares of Colgate-Palmolive by 1,460.9% during the third 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. 80.41% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

CL has been the subject of several recent analyst reports. StockNews.com lowered shares of Colgate-Palmolive from a "buy" rating to a "hold" rating in a research note on Monday, December 16th. JPMorgan Chase & Co. increased their price objective on Colgate-Palmolive from $113.00 to $114.00 and gave the company an "overweight" rating in a report on Friday, October 11th. Piper Sandler assumed coverage on Colgate-Palmolive in a research note on Tuesday, September 24th. They set an "overweight" rating and a $121.00 target price on the stock. UBS Group increased their price target on Colgate-Palmolive from $119.00 to $122.00 and gave the company a "buy" rating in a research note on Wednesday, September 4th. Finally, Wells Fargo & Company cut their price objective 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 analyst has rated the stock with a sell rating, ten have issued a hold rating and twelve have given a buy rating to the company's stock. According to data from MarketBeat, the stock has an average rating of "Hold" and a consensus target price of $105.11.

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 dated 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 sale, the chief financial officer now directly owns 36,726 shares in the company, valued at $3,456,283.86. This 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 is available at the SEC website. 0.34% of the stock is currently owned by insiders.

Colgate-Palmolive Trading Down 1.0 %

NYSE:CL traded down $0.89 on Friday, reaching $92.03. The company's stock had a trading volume of 9,767,530 shares, compared to its average volume of 4,420,097. Colgate-Palmolive has a 12-month low of $76.96 and a 12-month high of $109.30. The stock has a 50 day moving average price of $95.02 and a 200 day moving average price of $98.61. The firm has a market cap of $75.19 billion, a price-to-earnings ratio of 26.37, a price-to-earnings-growth ratio of 3.31 and a beta of 0.43. 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 Announces Dividend

The business 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. The ex-dividend date is Tuesday, January 21st. This represents a $2.00 dividend on an annualized basis and a yield of 2.17%. Colgate-Palmolive's payout ratio is currently 57.31%.

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.