Polar Asset Management Partners Inc. Sells 50,300 Shares of Colgate-Palmolive (NYSE:CL)

Polar Asset Management Partners Inc. lessened its holdings in shares of Colgate-Palmolive (NYSE:CL - Free Report) by 79.2% in the 3rd quarter, according to its most recent filing with the SEC. The fund owned 13,200 shares of the company's stock after selling 50,300 shares during the period. Polar Asset Management Partners Inc.'s holdings in Colgate-Palmolive were worth $1,370,000 at the end of the most recent reporting period.

Other hedge funds have also recently added to or reduced their stakes in the company. Massachusetts Financial Services Co. MA grew its position in Colgate-Palmolive by 6.2% in the 3rd quarter. Massachusetts Financial Services Co. MA now owns 9,526,990 shares of the company's stock worth $988,997,000 after purchasing an additional 557,492 shares during the last quarter. Legal & General Group Plc increased its stake in Colgate-Palmolive by 0.8% during the second quarter. Legal & General Group Plc now owns 7,785,101 shares of the company's stock valued at $755,465,000 after acquiring an additional 61,413 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. Acadian Asset Management LLC lifted its position in shares of Colgate-Palmolive by 108.4% in the 2nd quarter. Acadian Asset Management LLC now owns 5,682,280 shares of the company's stock worth $551,367,000 after acquiring an additional 2,955,442 shares during the period. Finally, Charles Schwab Investment Management Inc. grew its holdings in shares of Colgate-Palmolive by 0.3% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 4,595,245 shares of the company's stock worth $477,032,000 after purchasing an additional 11,750 shares in the last quarter. Institutional investors own 80.41% of the company's stock.

Colgate-Palmolive Trading Down 0.9 %

Shares of Colgate-Palmolive stock traded down $0.87 during trading on Friday, reaching $94.23. 4,104,800 shares of the company were exchanged, compared to its average volume of 4,383,152. The business has a 50-day moving average price of $96.73 and a 200-day moving average price of $98.61. The firm has a market capitalization of $76.99 billion, a price-to-earnings ratio of 27.00, a P/E/G ratio of 3.38 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 has a twelve month low of $75.50 and a twelve month high of $109.30.

Colgate-Palmolive Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, November 15th. Investors of record on Friday, October 18th were given 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 2.12%. Colgate-Palmolive's dividend payout ratio is 57.31%.

Insider Buying and Selling

In other news, CFO Stanley J. Sutula III sold 45,410 shares of Colgate-Palmolive stock in a transaction dated Tuesday, November 5th. The stock was 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 owns 36,726 shares in the company, valued at $3,456,283.86. The trade was a 55.29 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 0.34% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on the stock. StockNews.com upgraded shares of Colgate-Palmolive from a "hold" rating to a "buy" rating in a research report on Monday, November 25th. TD Cowen cut their price objective on Colgate-Palmolive from $115.00 to $110.00 and set a "buy" rating for the company in a report on Monday, October 28th. Deutsche Bank Aktiengesellschaft lowered shares of Colgate-Palmolive from a "buy" rating to a "hold" rating and upped their target price for the stock from $107.00 to $109.00 in a report on Monday, September 9th. Piper Sandler initiated coverage on shares of Colgate-Palmolive in a report on Tuesday, September 24th. They set an "overweight" rating and a $121.00 price target for the company. Finally, Wells Fargo & Company decreased their price objective on shares of Colgate-Palmolive from $100.00 to $92.00 and set an "underweight" rating on the stock in a research note on Monday, October 28th. One investment analyst has rated the stock with a sell rating, nine have given a hold rating and thirteen have assigned a buy rating to the company. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average price target of $105.11.

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.