MetLife Investment Management LLC Sells 6,686 Shares of Colgate-Palmolive (NYSE:CL)

MetLife Investment Management LLC trimmed its stake in Colgate-Palmolive (NYSE:CL) by 2.8% in the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 232,742 shares of the company’s stock after selling 6,686 shares during the quarter. MetLife Investment Management LLC’s holdings in Colgate-Palmolive were worth $24,161,000 at the end of the most recent reporting period.

A number of other institutional investors have also added to or reduced their stakes in the company. Massachusetts Financial Services Co. MA grew its position in shares of Colgate-Palmolive by 6.2% during the 3rd quarter. Massachusetts Financial Services Co. MA now owns 9,526,990 shares of the company’s stock worth $988,997,000 after purchasing an additional 557,492 shares in the last quarter. Legal & General Group Plc lifted its holdings in Colgate-Palmolive by 0.8% during the 2nd quarter. Legal & General Group Plc now owns 7,785,101 shares of the company’s stock worth $755,465,000 after buying an additional 61,413 shares during the period. FMR LLC increased its position in Colgate-Palmolive by 65.6% during the 3rd quarter. FMR LLC now owns 6,749,275 shares of the company’s stock valued at $700,642,000 after purchasing an additional 2,674,807 shares during the period. Acadian Asset Management LLC raised its position in shares of Colgate-Palmolive by 108.4% in the 2nd quarter. Acadian Asset Management LLC now owns 5,682,280 shares of the company’s stock worth $551,367,000 after acquiring an additional 2,955,442 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. boosted its holdings in shares of Colgate-Palmolive by 0.3% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 4,595,245 shares of the company’s stock worth $477,032,000 after buying an additional 11,750 shares in the last quarter. 80.41% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of research firms recently weighed in on CL. Deutsche Bank Aktiengesellschaft lowered shares of Colgate-Palmolive from a “buy” rating to a “hold” rating and upped their target price for the stock from $107.00 to $109.00 in a report on Monday, September 9th. JPMorgan Chase & Co. lifted their target price on Colgate-Palmolive from $113.00 to $114.00 and gave the company an “overweight” rating in a report on Friday, October 11th. Wells Fargo & Company lowered their target price on shares of Colgate-Palmolive from $100.00 to $92.00 and set an “underweight” rating on the stock in a research note on Monday, October 28th. TD Cowen decreased their price objective on Colgate-Palmolive from $115.00 to $110.00 and set a “buy” rating on the stock in a report on Monday, October 28th. Finally, Stifel Nicolaus cut shares of Colgate-Palmolive from a “buy” rating to a “hold” rating and cut their price target for the company from $105.00 to $101.00 in a report on Monday, October 28th. One investment analyst has rated the stock with a sell rating, nine have issued a hold rating and thirteen have assigned a buy rating to the stock. According to data from MarketBeat.com, Colgate-Palmolive presently has a consensus rating of “Moderate Buy” and a consensus price target of $105.11.

Insider Buying and Selling

In other Colgate-Palmolive news, CFO Stanley J. Sutula III sold 45,410 shares of the business’s stock in a transaction dated 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 completion of the sale, the chief financial officer now owns 36,726 shares of the company’s stock, valued at approximately $3,456,283.86. The trade was a 55.29 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. 0.37% of the stock is currently owned by insiders.

Colgate-Palmolive Stock Up 0.2 %

Colgate-Palmolive stock opened at $96.75 on Thursday. Colgate-Palmolive has a one year low of $75.50 and a one year high of $109.30. The stock has a fifty day moving average of $97.61 and a 200 day moving average of $98.58. 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 market cap of $79.05 billion, a PE ratio of 27.72, a price-to-earnings-growth ratio of 3.40 and a beta of 0.42.

Colgate-Palmolive Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, November 15th. Stockholders of record on Friday, October 18th were paid 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 presently 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.