Dai ichi Life Insurance Company Ltd Lowers Position in Colgate-Palmolive (NYSE:CL)

Dai ichi Life Insurance Company Ltd reduced its holdings in shares of Colgate-Palmolive (NYSE:CL) by 17.0% in the 3rd quarter, Holdings Channel.com reports. The institutional investor owned 207,923 shares of the company’s stock after selling 42,602 shares during the period. Dai ichi Life Insurance Company Ltd’s holdings in Colgate-Palmolive were worth $21,584,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of CL. 1832 Asset Management L.P. boosted its holdings in Colgate-Palmolive by 4,847.3% in the first quarter. 1832 Asset Management L.P. now owns 9,301 shares of the company’s stock valued at $838,000 after purchasing an additional 9,113 shares during the last quarter. B. Riley Wealth Advisors Inc. boosted its stake in shares of Colgate-Palmolive by 0.8% during the 1st quarter. B. Riley Wealth Advisors Inc. now owns 16,639 shares of the company’s stock valued at $1,498,000 after buying an additional 138 shares during the last quarter. California State Teachers Retirement System grew its position in shares of Colgate-Palmolive by 0.8% during the first quarter. California State Teachers Retirement System now owns 1,301,518 shares of the company’s stock worth $117,202,000 after buying an additional 9,979 shares in the last quarter. Tidal Investments LLC increased its stake in shares of Colgate-Palmolive by 31.1% in the first quarter. Tidal Investments LLC now owns 61,646 shares of the company’s stock worth $5,551,000 after buying an additional 14,631 shares during the last quarter. Finally, Hancock Whitney Corp raised its holdings in Colgate-Palmolive by 1.3% in the first quarter. Hancock Whitney Corp now owns 12,017 shares of the company’s stock valued at $1,082,000 after acquiring an additional 151 shares in the last quarter. 80.41% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at Colgate-Palmolive

In other Colgate-Palmolive news, CFO Stanley J. Sutula III sold 45,410 shares of the company’s stock in a transaction that occurred 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 transaction, the chief financial officer now owns 36,726 shares in the company, valued at approximately $3,456,283.86. This represents a 55.29 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 0.37% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on CL shares. JPMorgan Chase & Co. boosted their target price on shares of Colgate-Palmolive from $113.00 to $114.00 and gave the stock an “overweight” rating in a research report on Friday, October 11th. Stifel Nicolaus downgraded shares of Colgate-Palmolive from a “buy” rating to a “hold” rating and dropped their target price for the stock from $105.00 to $101.00 in a research report on Monday, October 28th. Piper Sandler started coverage on shares of Colgate-Palmolive in a research report on Tuesday, September 24th. They issued an “overweight” rating and a $121.00 target price for the company. UBS Group boosted their target price on shares of Colgate-Palmolive from $119.00 to $122.00 and gave the stock a “buy” rating in a research report on Wednesday, September 4th. Finally, Morgan Stanley boosted their target price on shares of Colgate-Palmolive from $103.00 to $111.00 and gave the stock an “overweight” rating in a research report on Monday, July 29th. One equities research analyst has rated the stock with a sell rating, nine have assigned a hold rating and thirteen have assigned a buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $105.11.

Colgate-Palmolive Price Performance

NYSE CL opened at $95.34 on Tuesday. The company has a 50-day moving average price of $97.90 and a two-hundred day moving average price of $98.58. The stock has a market cap of $77.89 billion, a price-to-earnings ratio of 27.32, a price-to-earnings-growth ratio of 3.39 and a beta of 0.42. Colgate-Palmolive has a 52 week low of $75.50 and a 52 week 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 Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, November 15th. Investors of record on Friday, October 18th were paid a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a yield of 2.10%. The ex-dividend date was Friday, October 18th. Colgate-Palmolive’s dividend payout ratio is presently 57.31%.

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.