Edgewood Management LLC Sells 7,663 Shares of Colgate-Palmolive (NYSE:CL)

Edgewood Management LLC cut its position in Colgate-Palmolive (NYSE:CL - Free Report) by 1.1% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 693,451 shares of the company's stock after selling 7,663 shares during the quarter. Colgate-Palmolive comprises approximately 0.2% of Edgewood Management LLC's holdings, making the stock its 23rd biggest position. Edgewood Management LLC owned approximately 0.08% of Colgate-Palmolive worth $71,987,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Price T Rowe Associates Inc. MD lifted its holdings in Colgate-Palmolive by 27.8% during the 1st 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 purchasing an additional 8,933,912 shares during the last quarter. Swedbank AB bought a new position in Colgate-Palmolive in the first quarter valued at about $286,370,000. Acadian Asset Management LLC grew its position in Colgate-Palmolive by 108.4% in the second quarter. Acadian Asset Management LLC now owns 5,682,280 shares of the company's stock valued at $551,367,000 after acquiring an additional 2,955,442 shares during the last quarter. Massachusetts Financial Services Co. MA grew its holdings 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 during the last quarter. Finally, AQR Capital Management LLC grew its holdings 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 during the last quarter. 80.41% of the stock is owned by institutional investors.

Colgate-Palmolive Stock Up 0.9 %

Colgate-Palmolive stock traded up $0.85 during trading on Friday, hitting $95.10. 1,576,809 shares of the company were exchanged, compared to its average volume of 4,374,602. The company has a market capitalization of $77.70 billion, a P/E ratio of 27.04, a PEG ratio of 3.34 and a beta of 0.42. 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 business's 50 day moving average is $98.32 and its 200 day moving average is $98.50. Colgate-Palmolive has a 52 week low of $75.50 and a 52 week high of $109.30.

Colgate-Palmolive Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, November 15th. Stockholders of record on Friday, October 18th were given a dividend of $0.50 per share. The ex-dividend date was Friday, October 18th. This represents a $2.00 dividend on an annualized basis and a dividend yield of 2.10%. Colgate-Palmolive's dividend payout ratio is presently 57.31%.

Analyst Ratings Changes

A number of research firms recently commented on CL. Morgan Stanley lifted their price objective on Colgate-Palmolive from $103.00 to $111.00 and gave the stock an "overweight" rating in a research note on Monday, July 29th. StockNews.com raised Colgate-Palmolive from a "hold" rating to a "buy" rating in a research note on Thursday, November 14th. JPMorgan Chase & Co. lifted their price objective on Colgate-Palmolive from $113.00 to $114.00 and gave the stock an "overweight" rating in a research note on Friday, October 11th. Barclays boosted their price target on Colgate-Palmolive from $91.00 to $96.00 and gave the company an "equal weight" rating in a research note on Monday, July 29th. Finally, Piper Sandler started 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. One analyst has rated the stock with a sell rating, nine have given a hold rating and thirteen have issued a buy rating to the company. According to data from MarketBeat.com, Colgate-Palmolive has a consensus rating of "Moderate Buy" and a consensus target price of $105.11.

Insider Activity

In other Colgate-Palmolive news, CFO Stanley J. Sutula III sold 45,410 shares of the firm's stock in a transaction dated Tuesday, November 5th. The stock was sold at an average price of $94.11, for a total value of $4,273,535.10. Following the sale, the chief financial officer now owns 36,726 shares of the company's stock, valued at $3,456,283.86. This trade represents a 55.29 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Insiders own 0.34% of the company's stock.

Colgate-Palmolive Company 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.