Erste Asset Management GmbH Invests $15.93 Million in Colgate-Palmolive (NYSE:CL)

Erste Asset Management GmbH bought a new position in shares of Colgate-Palmolive (NYSE:CL) during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund bought 153,714 shares of the company’s stock, valued at approximately $15,932,000.

Several other hedge funds have also modified their holdings of the stock. Acadian Asset Management LLC grew its position in Colgate-Palmolive by 108.4% during the 2nd quarter. Acadian Asset Management LLC now owns 5,682,280 shares of the company’s stock worth $551,367,000 after purchasing an additional 2,955,442 shares in the last quarter. FMR LLC boosted its position in shares of Colgate-Palmolive by 65.6% in the third quarter. FMR LLC now owns 6,749,275 shares of the company’s stock worth $700,642,000 after buying an additional 2,674,807 shares during the period. Massachusetts Financial Services Co. MA grew its holdings in shares of Colgate-Palmolive by 40.7% during 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. AQR Capital Management LLC raised its position in Colgate-Palmolive by 58.6% during the second quarter. AQR Capital Management LLC now owns 2,416,943 shares of the company’s stock valued at $234,540,000 after buying an additional 892,706 shares during the period. Finally, Canada Pension Plan Investment Board lifted its stake in Colgate-Palmolive by 38.8% in the 2nd quarter. Canada Pension Plan Investment Board now owns 2,541,975 shares of the company’s stock worth $246,673,000 after acquiring an additional 710,500 shares in the last quarter. 80.41% of the stock is owned by hedge funds and other institutional investors.

Colgate-Palmolive Stock Performance

NYSE:CL opened at $96.63 on Monday. The firm has a market capitalization of $78.95 billion, a PE ratio of 27.69, a PEG ratio of 3.45 and a beta of 0.42. Colgate-Palmolive has a 1 year low of $75.50 and a 1 year 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. The firm’s fifty day simple moving average is $97.38 and its 200 day simple moving average is $98.64.

Colgate-Palmolive Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, November 15th. Stockholders 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 of this dividend was Friday, October 18th. Colgate-Palmolive’s dividend payout ratio is currently 57.31%.

Insider Transactions at Colgate-Palmolive

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 shares were sold at an average price of $94.11, for a total value of $4,273,535.10. Following the sale, the chief financial officer now owns 36,726 shares in the company, valued at approximately $3,456,283.86. This trade represents a 55.29 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 0.34% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

A number of equities analysts have recently weighed in on the company. Wells Fargo & Company dropped their target price on Colgate-Palmolive from $100.00 to $92.00 and set an “underweight” rating on the stock in a report on Monday, October 28th. TD Cowen dropped their price objective on shares of Colgate-Palmolive from $115.00 to $110.00 and set a “buy” rating on the stock in a research note on Monday, October 28th. Piper Sandler initiated coverage on shares of Colgate-Palmolive in a research note on Tuesday, September 24th. They set an “overweight” rating and a $121.00 target price for the company. Deutsche Bank Aktiengesellschaft downgraded shares of Colgate-Palmolive from a “buy” rating to a “hold” rating and upped their price target for the stock from $107.00 to $109.00 in a research note on Monday, September 9th. Finally, UBS Group increased their price objective on Colgate-Palmolive from $119.00 to $122.00 and gave the stock a “buy” rating in a report on Wednesday, September 4th. One research analyst has rated the stock with a sell rating, nine have issued a hold rating and thirteen have given a buy rating to the company’s stock. Based on data from MarketBeat, Colgate-Palmolive presently has a consensus rating of “Moderate Buy” and a consensus target price of $105.11.

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.