MAI Capital Management Lowers Position in Colgate-Palmolive (NYSE:CL)

MAI Capital Management lowered its holdings in Colgate-Palmolive (NYSE:CL - Free Report) by 33.0% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 26,075 shares of the company's stock after selling 12,828 shares during the period. MAI Capital Management's holdings in Colgate-Palmolive were worth $2,707,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also made changes to their positions in the business. Price T Rowe Associates Inc. MD grew its position in Colgate-Palmolive by 27.8% during the first quarter. Price T Rowe Associates Inc. MD now owns 41,067,130 shares of the company's stock valued at $3,698,096,000 after acquiring an additional 8,933,912 shares during the period. Swedbank AB acquired a new position in shares of Colgate-Palmolive during the first quarter worth about $286,370,000. Acadian Asset Management LLC lifted its stake in shares of Colgate-Palmolive by 108.4% during the second quarter. Acadian Asset Management LLC now owns 5,682,280 shares of the company's stock worth $551,367,000 after purchasing an additional 2,955,442 shares in the last quarter. Massachusetts Financial Services Co. MA lifted its stake in shares of Colgate-Palmolive by 40.7% during the second quarter. Massachusetts Financial Services Co. MA now owns 8,969,498 shares of the company's stock worth $870,400,000 after purchasing an additional 2,593,313 shares in the last quarter. Finally, AQR Capital Management LLC lifted its stake in shares of 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 purchasing an additional 892,706 shares in the last quarter. Hedge funds and other institutional investors own 80.41% of the company's stock.

Insider Activity at Colgate-Palmolive

In other Colgate-Palmolive news, CFO Stanley J. Sutula III sold 45,410 shares of the company'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 value of $4,273,535.10. Following the completion of the transaction, the chief financial officer now directly owns 36,726 shares in the company, valued at approximately $3,456,283.86. This represents a 55.29 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Martina Hundmejean sold 2,313 shares of the stock in a transaction on Friday, August 23rd. The stock was sold at an average price of $103.86, for a total transaction of $240,228.18. Following the sale, the director now owns 11,755 shares of the company's stock, valued at approximately $1,220,874.30. This trade represents a 16.44 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.34% of the stock is owned by insiders.

Colgate-Palmolive Stock Performance

Shares of NYSE:CL traded up $0.30 on Wednesday, reaching $93.91. 4,302,427 shares of the company's stock were exchanged, compared to its average volume of 4,390,289. The company has a fifty day moving average of $98.80 and a 200-day moving average of $98.56. Colgate-Palmolive has a twelve month low of $75.39 and a twelve month high of $109.30. 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 capitalization of $76.73 billion, a price-to-earnings ratio of 26.90, a PEG ratio of 3.34 and a beta of 0.42.

Colgate-Palmolive Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, November 15th. Investors of record on Friday, October 18th were paid a $0.50 dividend. This represents a $2.00 annualized dividend and a yield of 2.13%. The ex-dividend date was Friday, October 18th. Colgate-Palmolive's payout ratio is 57.31%.

Wall Street Analysts Forecast Growth

Several research analysts recently commented on the company. Piper Sandler began coverage on Colgate-Palmolive in a research note on Tuesday, September 24th. They issued an "overweight" rating and a $121.00 price target on the stock. Redburn Atlantic raised Colgate-Palmolive to a "hold" rating in a report on Thursday, August 1st. Stifel Nicolaus lowered Colgate-Palmolive from a "buy" rating to a "hold" rating and decreased their price target for the company from $105.00 to $101.00 in a research note on Monday, October 28th. StockNews.com raised Colgate-Palmolive from a "hold" rating to a "buy" rating in a research note on Thursday, November 14th. Finally, Hsbc Global Res lowered Colgate-Palmolive from a "strong-buy" rating to a "hold" rating in a research note on Friday, July 26th. One analyst has rated the stock with a sell rating, nine have issued a hold rating and thirteen have issued a buy rating to the stock. According to MarketBeat, the company has an average rating of "Moderate Buy" and an average target price of $105.11.

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.