Geode Capital Management LLC Purchases 552,949 Shares of Colgate-Palmolive (NYSE:CL)

Geode Capital Management LLC raised its position in Colgate-Palmolive (NYSE:CL - Free Report) by 2.8% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 20,193,331 shares of the company's stock after buying an additional 552,949 shares during the quarter. Geode Capital Management LLC owned 2.47% of Colgate-Palmolive worth $2,095,325,000 at the end of the most recent reporting period.

Several other large investors have also recently added to or reduced their stakes in the company. Acadian Asset Management LLC increased its holdings 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 during the period. FMR LLC raised its holdings in Colgate-Palmolive by 65.6% in the 3rd quarter. FMR LLC now owns 6,749,275 shares of the company's stock valued at $700,642,000 after acquiring an additional 2,674,807 shares in the last quarter. Massachusetts Financial Services Co. MA lifted its position in shares of Colgate-Palmolive by 40.7% during the 2nd quarter. Massachusetts Financial Services Co. MA now owns 8,969,498 shares of the company's stock valued at $870,400,000 after acquiring an additional 2,593,313 shares during the period. Barclays PLC grew its holdings in shares of Colgate-Palmolive by 38.7% during the 3rd quarter. Barclays PLC now owns 7,644,189 shares of the company's stock worth $793,542,000 after purchasing an additional 2,132,747 shares in the last quarter. Finally, State Street Corp raised its stake in Colgate-Palmolive by 3.8% in the third quarter. State Street Corp now owns 48,436,276 shares of the company's stock valued at $5,028,170,000 after purchasing an additional 1,784,411 shares in the last quarter. Institutional investors own 80.41% of the company's stock.

Wall Street Analyst Weigh In

Several brokerages have commented on CL. UBS Group boosted their price objective on shares of Colgate-Palmolive from $119.00 to $122.00 and gave the company a "buy" rating in a research report on Wednesday, September 4th. Deutsche Bank Aktiengesellschaft lowered shares of Colgate-Palmolive from a "buy" rating to a "hold" rating and lifted their price target for the company from $107.00 to $109.00 in a report on Monday, September 9th. Wells Fargo & Company dropped their price objective on shares of Colgate-Palmolive from $100.00 to $92.00 and set an "underweight" rating for the company in a research note on Monday, October 28th. StockNews.com upgraded shares of Colgate-Palmolive from a "hold" rating to a "buy" rating in a report on Monday, November 25th. Finally, Piper Sandler began coverage on Colgate-Palmolive in a research report on Tuesday, September 24th. They set an "overweight" rating and a $121.00 price objective on the stock. One equities research analyst has rated the stock with a sell rating, nine have assigned a hold rating and thirteen have assigned a buy rating to the company. According to MarketBeat.com, Colgate-Palmolive has an average rating of "Moderate Buy" and a consensus target price of $105.11.

Insider Activity at Colgate-Palmolive

In other Colgate-Palmolive news, CFO Stanley J. Sutula III sold 45,410 shares of the 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 completion of the transaction, the chief financial officer now owns 36,726 shares in the company, valued at $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 is available through this link. 0.37% of the stock is owned by company insiders.

Colgate-Palmolive Stock Performance

Shares of NYSE:CL traded up $0.95 during midday trading on Tuesday, reaching $93.89. The company had a trading volume of 4,193,735 shares, compared to its average volume of 4,384,669. The stock has a market cap of $76.71 billion, a P/E ratio of 26.90, a P/E/G ratio of 3.36 and a beta of 0.43. The company's 50 day moving average price is $96.33 and its 200 day moving average price is $98.65. 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 has a 52-week low of $75.50 and a 52-week high of $109.30.

Colgate-Palmolive Dividend Announcement

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

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.