Fmr LLC Acquires 2,674,807 Shares of Colgate-Palmolive (NYSE:CL)

Fmr LLC grew its stake in shares of Colgate-Palmolive (NYSE:CL) by 65.6% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 6,749,275 shares of the company’s stock after acquiring an additional 2,674,807 shares during the period. Fmr LLC owned 0.83% of Colgate-Palmolive worth $700,642,000 at the end of the most recent quarter.

Other hedge funds have also added to or reduced their stakes in the company. E Fund Management Hong Kong Co. Ltd. bought a new stake in Colgate-Palmolive during the second quarter worth about $25,000. Continuum Advisory LLC boosted its position in Colgate-Palmolive by 46.5% during the 2nd quarter. Continuum Advisory LLC now owns 394 shares of the company’s stock worth $38,000 after buying an additional 125 shares during the period. Reston Wealth Management LLC bought a new stake in shares of Colgate-Palmolive in the third quarter worth $42,000. Capital Performance Advisors LLP bought a new stake in shares of Colgate-Palmolive in the 3rd quarter valued at about $53,000. Finally, Prospera Private Wealth LLC bought a new stake in Colgate-Palmolive in the third quarter valued at approximately $64,000. 80.41% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on CL. Wells Fargo & Company decreased their price target on Colgate-Palmolive from $100.00 to $92.00 and set an “underweight” rating for the company in a report on Monday, October 28th. Deutsche Bank Aktiengesellschaft downgraded Colgate-Palmolive from a “buy” rating to a “hold” rating and increased their price objective for the stock from $107.00 to $109.00 in a research note on Monday, September 9th. Redburn Atlantic raised shares of Colgate-Palmolive to a “hold” rating in a research report on Thursday, August 1st. JPMorgan Chase & Co. boosted their price objective on Colgate-Palmolive from $113.00 to $114.00 and gave the stock an “overweight” rating in a research report on Friday, October 11th. Finally, UBS Group increased their target price 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. 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. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $105.11.

Insider Transactions at Colgate-Palmolive

In related news, CFO Stanley J. Sutula III sold 45,410 shares of Colgate-Palmolive stock in a transaction 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 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 position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 0.37% of the company’s stock.

Colgate-Palmolive Price Performance

NYSE:CL opened at $96.76 on Friday. The firm has a market capitalization of $79.05 billion, a price-to-earnings ratio of 27.73, a P/E/G ratio of 3.40 and a beta of 0.42. The company has a debt-to-equity ratio of 9.46, a quick ratio of 0.68 and a current ratio of 1.04. The stock has a fifty day moving average of $97.51 and a 200 day moving average of $98.57. 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 disclosed a quarterly dividend, which was paid on Friday, November 15th. Investors of record on Friday, October 18th were given a $0.50 dividend. This represents a $2.00 annualized dividend and a dividend yield of 2.07%. The ex-dividend date was Friday, October 18th. Colgate-Palmolive’s dividend payout ratio (DPR) is 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.