Public Sector Pension Investment Board Has $97.44 Million Stock Position in Colgate-Palmolive (NYSE:CL)

Public Sector Pension Investment Board boosted its holdings in shares of Colgate-Palmolive (NYSE:CL) by 144.7% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 938,626 shares of the company’s stock after acquiring an additional 555,040 shares during the period. Public Sector Pension Investment Board owned approximately 0.11% of Colgate-Palmolive worth $97,439,000 as of its most recent filing with the Securities and Exchange Commission.

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

Analysts Set New Price Targets

A number of research firms have weighed in on CL. UBS Group upped their price target on Colgate-Palmolive from $119.00 to $122.00 and gave the stock a “buy” rating in a research report on Wednesday, September 4th. TD Cowen dropped their price objective on Colgate-Palmolive from $115.00 to $110.00 and set a “buy” rating on the stock in a research note on Monday, October 28th. Deutsche Bank Aktiengesellschaft downgraded Colgate-Palmolive from a “buy” rating to a “hold” rating and increased their price objective for the company from $107.00 to $109.00 in a report on Monday, September 9th. 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 report on Monday, October 28th. Finally, StockNews.com upgraded shares of Colgate-Palmolive from a “hold” rating to a “buy” rating in a research note on Monday. One research analyst has rated the stock with a sell rating, nine have assigned a hold rating and thirteen have given a buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $105.11.

Insiders Place Their Bets

In other news, CFO Stanley J. Sutula III sold 45,410 shares of Colgate-Palmolive 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 completion of the sale, the chief financial officer now directly owns 36,726 shares in the company, 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 filing with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 0.37% of the company’s stock.

Colgate-Palmolive Stock Up 0.2 %

CL opened at $96.75 on Thursday. 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 fifty day moving average of $97.61 and a 200-day moving average of $98.58. Colgate-Palmolive has a fifty-two week low of $75.50 and a fifty-two week high of $109.30. The company has a market capitalization of $79.05 billion, a P/E ratio of 27.72, a P/E/G 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. Shareholders of record on Friday, October 18th were issued a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a 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%.

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.