Czech National Bank Raises Stock Position in Colgate-Palmolive (NYSE:CL)

Czech National Bank raised its stake in Colgate-Palmolive (NYSE:CL) by 6.4% in the fourth quarter, HoldingsChannel reports. The institutional investor owned 177,145 shares of the company’s stock after buying an additional 10,696 shares during the quarter. Czech National Bank’s holdings in Colgate-Palmolive were worth $16,104,000 at the end of the most recent reporting period.

A number of other hedge funds also recently added to or reduced their stakes in CL. FMR LLC increased its holdings in Colgate-Palmolive by 65.6% in the third quarter. FMR LLC now owns 6,749,275 shares of the company’s stock valued at $700,642,000 after buying an additional 2,674,807 shares in the last quarter. Massachusetts Financial Services Co. MA increased its holdings in Colgate-Palmolive by 40.7% in the second quarter. Massachusetts Financial Services Co. MA now owns 8,969,498 shares of the company’s stock valued at $870,400,000 after buying an additional 2,593,313 shares in the last quarter. Barclays PLC grew its position in shares of Colgate-Palmolive by 38.7% in the third quarter. Barclays PLC now owns 7,644,189 shares of the company’s stock valued at $793,542,000 after purchasing an additional 2,132,747 shares during the last quarter. State Street Corp grew its position in shares of 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 during the last quarter. Finally, Nordea Investment Management AB grew its position in shares of Colgate-Palmolive by 32.5% in the fourth quarter. Nordea Investment Management AB now owns 5,091,683 shares of the company’s stock valued at $462,121,000 after purchasing an additional 1,247,731 shares during the last quarter. 80.41% of the stock is owned by hedge funds and other institutional investors.

Colgate-Palmolive Stock Up 0.8 %

Shares of CL opened at $87.02 on Tuesday. The firm has a market cap of $71.10 billion, a PE ratio of 24.93, a price-to-earnings-growth ratio of 3.31 and a beta of 0.44. The company’s fifty day moving average is $92.49 and its two-hundred day moving average is $97.98. Colgate-Palmolive has a fifty-two week low of $79.69 and a fifty-two week high of $109.30. 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 Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, February 14th. Shareholders of record on Tuesday, January 21st will be issued a $0.50 dividend. The ex-dividend date of this dividend is Tuesday, January 21st. This represents a $2.00 dividend on an annualized basis and a dividend yield of 2.30%. Colgate-Palmolive’s dividend payout ratio (DPR) is presently 57.31%.

Analyst Upgrades and Downgrades

CL has been the topic of several research reports. TD Cowen lowered their price target on shares of Colgate-Palmolive from $110.00 to $100.00 and set a “buy” rating on the stock in a research report on Wednesday, January 8th. Stifel Nicolaus lowered shares of Colgate-Palmolive from a “buy” rating to a “hold” rating and lowered their price target for the company from $105.00 to $101.00 in a research report on Monday, October 28th. Wells Fargo & Company lowered their price target on shares of Colgate-Palmolive from $92.00 to $83.00 and set an “underweight” rating on the stock in a research report on Tuesday, January 7th. Piper Sandler lowered their price target on shares of Colgate-Palmolive from $121.00 to $112.00 and set an “overweight” rating on the stock in a research report on Monday, January 6th. Finally, JPMorgan Chase & Co. increased their price target on shares of Colgate-Palmolive from $113.00 to $114.00 and gave the company an “overweight” rating in a research report on Friday, October 11th. One analyst has rated the stock with a sell rating, ten have assigned a hold rating and twelve have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $103.63.

Insider Activity

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 transaction of $4,273,535.10. Following the transaction, the chief financial officer now owns 36,726 shares in the company, valued at approximately $3,456,283.86. The trade was a 55.29 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Insiders own 0.34% of the company’s stock.

Colgate-Palmolive 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.