M&G Plc Decreases Stock Holdings in Colgate-Palmolive (NYSE:CL)

M&G Plc lessened its holdings in Colgate-Palmolive (NYSE:CL) by 12.4% during the 3rd quarter, HoldingsChannel.com reports. The institutional investor owned 70,071 shares of the company’s stock after selling 9,904 shares during the quarter. M&G Plc’s holdings in Colgate-Palmolive were worth $7,287,000 as of its most recent SEC filing.

A number of other institutional investors also recently bought and sold shares of CL. Dechtman Wealth Management LLC acquired a new stake in Colgate-Palmolive during the 3rd quarter worth $288,000. Concurrent Investment Advisors LLC increased its holdings in shares of Colgate-Palmolive by 7.4% in the third quarter. Concurrent Investment Advisors LLC now owns 12,583 shares of the company’s stock valued at $1,306,000 after purchasing an additional 867 shares during the period. Gordian Advisors LLC purchased a new position in Colgate-Palmolive during the 3rd quarter worth $602,000. Radnor Capital Management LLC purchased a new position in Colgate-Palmolive during the third quarter worth about $2,900,000. Finally, Catalina Capital Group LLC raised its stake in shares of Colgate-Palmolive by 20.8% during the 3rd quarter. Catalina Capital Group LLC now owns 2,593 shares of the company’s stock worth $269,000 after buying an additional 446 shares in the last quarter. 80.41% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several analysts recently commented on the stock. Piper Sandler initiated coverage on shares of Colgate-Palmolive in a research note on Tuesday, September 24th. They issued an “overweight” rating and a $121.00 price objective for the company. Redburn Atlantic upgraded Colgate-Palmolive to a “hold” rating in a research report on Thursday, August 1st. Evercore ISI lifted their target price on shares of Colgate-Palmolive from $100.00 to $106.00 and gave the stock an “outperform” rating in a research note on Thursday, July 18th. Sanford C. Bernstein upped their price objective on shares of Colgate-Palmolive from $100.00 to $103.00 and gave the company a “market perform” rating in a research note on Tuesday, July 30th. Finally, 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 note on Wednesday, September 4th. One analyst has rated the stock with a sell rating, nine have issued a hold rating and thirteen have assigned a buy rating to the company’s stock. According to MarketBeat, Colgate-Palmolive currently has a consensus rating of “Moderate Buy” and an average price target of $105.11.

Insider Buying and Selling at Colgate-Palmolive

In other news, Director Martina Hundmejean sold 2,313 shares of the company’s stock in a transaction dated Friday, August 23rd. The shares were sold at an average price of $103.86, for a total value of $240,228.18. Following the sale, the director now owns 11,755 shares in the company, valued at approximately $1,220,874.30. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In other Colgate-Palmolive news, CFO Stanley J. Sutula III sold 45,410 shares of the business’s stock in a transaction on 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 sale, the chief financial officer now owns 36,726 shares in the company, valued at $3,456,283.86. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Martina Hundmejean sold 2,313 shares of the stock in a transaction on Friday, August 23rd. The stock was sold at an average price of $103.86, for a total transaction of $240,228.18. Following the sale, the director now directly owns 11,755 shares in the company, valued at $1,220,874.30. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.34% of the stock is currently owned by insiders.

Colgate-Palmolive Stock Performance

Shares of CL opened at $92.59 on Friday. The firm has a market cap of $75.65 billion, a price-to-earnings ratio of 26.53, a PEG ratio of 3.34 and a beta of 0.42. The company has a quick ratio of 0.68, a current ratio of 1.04 and a debt-to-equity ratio of 9.46. The business’s 50 day moving average is $100.91 and its two-hundred day moving average is $98.37. Colgate-Palmolive has a 52-week low of $74.67 and a 52-week high of $109.30.

Colgate-Palmolive Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, November 15th. Investors of record on Friday, October 18th will be issued a $0.50 dividend. The ex-dividend date is Friday, October 18th. This represents a $2.00 annualized dividend and a yield of 2.16%. Colgate-Palmolive’s dividend payout ratio 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.