Weiss Asset Management LP Buys New Stake in Colgate-Palmolive (NYSE:CL)

Weiss Asset Management LP bought a new stake in shares of Colgate-Palmolive (NYSE:CL - Free Report) in the third quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor bought 81,706 shares of the company's stock, valued at approximately $8,482,000.

A number of other institutional investors and hedge funds have also recently modified their holdings of CL. Gordian Advisors LLC bought a new stake in Colgate-Palmolive in the third quarter worth $602,000. Carrera Capital Advisors grew its holdings in Colgate-Palmolive by 23.1% during the 3rd quarter. Carrera Capital Advisors now owns 39,170 shares of the company's stock valued at $4,066,000 after purchasing an additional 7,353 shares during the last quarter. Vontobel Holding Ltd. lifted its stake in Colgate-Palmolive by 224.6% in the third quarter. Vontobel Holding Ltd. now owns 795,938 shares of the company's stock worth $82,626,000 after purchasing an additional 550,750 shares during the last quarter. PGGM Investments boosted its position in shares of Colgate-Palmolive by 171.8% during the second quarter. PGGM Investments now owns 157,608 shares of the company's stock valued at $15,294,000 after buying an additional 99,624 shares during the period. Finally, QRG Capital Management Inc. grew its stake in shares of Colgate-Palmolive by 11.2% during the second quarter. QRG Capital Management Inc. now owns 57,275 shares of the company's stock valued at $5,558,000 after buying an additional 5,751 shares during the last quarter. 80.41% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Colgate-Palmolive

In other news, CFO Stanley J. Sutula III sold 45,410 shares of Colgate-Palmolive stock in a transaction on 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 legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 0.34% of the company's stock.

Analyst Upgrades and Downgrades

CL has been the subject of a number of research analyst reports. Piper Sandler started coverage on Colgate-Palmolive in a research report on Tuesday, September 24th. They set an "overweight" rating and a $121.00 target price for the company. Stifel Nicolaus lowered Colgate-Palmolive from a "buy" rating to a "hold" rating and reduced their target price for the company from $105.00 to $101.00 in a research report 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. Deutsche Bank Aktiengesellschaft cut shares of Colgate-Palmolive from a "buy" rating to a "hold" rating and lifted their target price for the stock from $107.00 to $109.00 in a research note on Monday, September 9th. Finally, Wells Fargo & Company decreased their price target on shares of Colgate-Palmolive from $100.00 to $92.00 and set an "underweight" rating for the company in a report on Monday, October 28th. One research analyst has rated the stock with a sell rating, nine have issued a hold rating and thirteen have given a buy rating to the company's stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $105.11.

Colgate-Palmolive Price Performance

NYSE:CL traded down $0.87 during trading hours on Friday, reaching $94.23. 3,990,483 shares of the company were exchanged, compared to its average volume of 4,375,370. 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 firm has a market cap of $76.99 billion, a PE ratio of 27.40, a price-to-earnings-growth ratio of 3.38 and a beta of 0.43. Colgate-Palmolive has a twelve month low of $75.50 and a twelve month high of $109.30. The stock's 50-day moving average is $96.73 and its 200-day moving average is $98.61.

Colgate-Palmolive Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, November 15th. Shareholders of record on Friday, October 18th were paid a dividend of $0.50 per share. The ex-dividend date of this dividend was Friday, October 18th. This represents a $2.00 annualized dividend and a yield of 2.12%. Colgate-Palmolive's dividend payout ratio (DPR) is presently 57.31%.

About Colgate-Palmolive

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.