Sarasin & Partners LLP Raises Stake in Colgate-Palmolive (NYSE:CL)

Sarasin & Partners LLP lifted its stake in Colgate-Palmolive (NYSE:CL) by 19.3% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 3,537,856 shares of the company’s stock after buying an additional 571,131 shares during the period. Colgate-Palmolive makes up approximately 3.5% of Sarasin & Partners LLP’s holdings, making the stock its 12th largest holding. Sarasin & Partners LLP owned about 0.43% of Colgate-Palmolive worth $321,626,000 as of its most recent SEC filing.

A number of other large investors have also bought and sold shares of CL. Reston Wealth Management LLC purchased a new position in shares of Colgate-Palmolive in the third quarter worth $42,000. Capital Performance Advisors LLP purchased a new position in shares of Colgate-Palmolive in the third quarter valued at about $53,000. Prospera Private Wealth LLC bought a new position in shares of Colgate-Palmolive during the third quarter valued at about $64,000. True Wealth Design LLC boosted its holdings in shares of Colgate-Palmolive by 1,460.9% during the third quarter. True Wealth Design LLC now owns 718 shares of the company’s stock worth $75,000 after purchasing an additional 672 shares during the period. Finally, Continuum Advisory LLC grew its stake in shares of Colgate-Palmolive by 93.4% in the third quarter. Continuum Advisory LLC now owns 762 shares of the company’s stock worth $79,000 after purchasing an additional 368 shares during the last quarter. 80.41% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other news, CFO Stanley J. Sutula III sold 45,410 shares of the firm’s stock in a transaction on Tuesday, November 5th. The stock was 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 directly owns 36,726 shares in the company, valued at $3,456,283.86. This trade represents a 55.29 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this link. 0.34% of the stock is owned by corporate insiders.

Colgate-Palmolive Stock Performance

CL stock opened at $88.79 on Monday. The stock has a market capitalization of $72.55 billion, a PE ratio of 25.44, a price-to-earnings-growth ratio of 3.01 and a beta of 0.44. The stock’s 50 day simple moving average is $92.20 and its 200 day simple moving average is $97.75. Colgate-Palmolive has a 12-month low of $79.69 and a 12-month high of $109.30. The company has a current ratio of 1.04, a quick ratio of 0.68 and a debt-to-equity ratio of 9.46.

Colgate-Palmolive Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, February 14th. Investors of record on Tuesday, January 21st will be given a dividend of $0.50 per share. The ex-dividend date is Tuesday, January 21st. This represents a $2.00 annualized dividend and a dividend yield of 2.25%. Colgate-Palmolive’s dividend payout ratio (DPR) is presently 57.31%.

Analyst Ratings Changes

CL has been the subject of several research analyst reports. Piper Sandler dropped their price objective on Colgate-Palmolive from $121.00 to $112.00 and set an “overweight” rating for the company in a report on Monday, January 6th. UBS Group cut their price target on shares of Colgate-Palmolive from $112.00 to $104.00 and set a “buy” rating on the stock in a report on Thursday. Stifel Nicolaus dropped their target price on shares of Colgate-Palmolive from $101.00 to $95.00 and set a “hold” rating for the company in a research report on Friday. Wells Fargo & Company reduced 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. Finally, Barclays lowered their price objective on shares of Colgate-Palmolive from $96.00 to $83.00 and set an “equal weight” rating for the company in a report on Friday. One equities research analyst has rated the stock with a sell rating, ten have given a hold rating and twelve have assigned a buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $101.11.

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.