Sompo Asset Management Co. Ltd. Buys 3,780 Shares of Colgate-Palmolive (NYSE:CL)

Sompo Asset Management Co. Ltd. increased its position in shares of Colgate-Palmolive (NYSE:CL) by 7.1% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 56,787 shares of the company’s stock after purchasing an additional 3,780 shares during the quarter. Sompo Asset Management Co. Ltd.’s holdings in Colgate-Palmolive were worth $5,895,000 at the end of the most recent reporting period.

A number of other large investors have also recently bought and sold shares of CL. Pitcairn Co. lifted its stake in Colgate-Palmolive by 8.2% during the third quarter. Pitcairn Co. now owns 10,388 shares of the company’s stock worth $1,078,000 after purchasing an additional 787 shares during the last quarter. Algert Global LLC raised its holdings in shares of Colgate-Palmolive by 830.4% during the 3rd quarter. Algert Global LLC now owns 47,739 shares of the company’s stock worth $4,956,000 after buying an additional 42,608 shares in the last quarter. Kingsview Wealth Management LLC lifted its position in shares of Colgate-Palmolive by 4.4% during the 3rd quarter. Kingsview Wealth Management LLC now owns 15,444 shares of the company’s stock worth $1,603,000 after buying an additional 644 shares during the last quarter. Cerity Partners LLC boosted its stake in Colgate-Palmolive by 28.6% in the third quarter. Cerity Partners LLC now owns 215,839 shares of the company’s stock valued at $22,406,000 after buying an additional 48,024 shares in the last quarter. Finally, Great Valley Advisor Group Inc. grew its position in Colgate-Palmolive by 76.2% in the third quarter. Great Valley Advisor Group Inc. now owns 14,387 shares of the company’s stock valued at $1,494,000 after acquiring an additional 6,224 shares during the last quarter. 80.41% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently weighed in on CL shares. Stifel Nicolaus downgraded shares of Colgate-Palmolive from a “buy” rating to a “hold” rating and reduced their price target for the company from $105.00 to $101.00 in a research note on Monday, October 28th. TD Cowen cut their target price on shares of Colgate-Palmolive from $115.00 to $110.00 and set a “buy” rating on the stock in a research report on Monday, October 28th. JPMorgan Chase & Co. upped their price target on shares of Colgate-Palmolive from $113.00 to $114.00 and gave the stock an “overweight” rating in a report on Friday, October 11th. Piper Sandler initiated coverage on Colgate-Palmolive in a research report on Tuesday, September 24th. They set an “overweight” rating and a $121.00 price objective on the stock. Finally, Wells Fargo & Company dropped their target price on Colgate-Palmolive from $100.00 to $92.00 and set an “underweight” rating for the company in a research report on Monday, October 28th. One analyst has rated the stock with a sell rating, nine have issued a hold rating and thirteen have issued a buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $105.11.

Colgate-Palmolive Stock Performance

CL stock opened at $94.92 on Friday. The firm has a market cap of $77.55 billion, a PE ratio of 27.20, a price-to-earnings-growth ratio of 3.36 and a beta of 0.42. 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 stock has a 50-day moving average price of $98.10 and a 200-day moving average price of $98.54. Colgate-Palmolive has a 1-year low of $75.50 and a 1-year high of $109.30.

Colgate-Palmolive Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, November 15th. Shareholders of record on Friday, October 18th were issued a $0.50 dividend. The ex-dividend date was Friday, October 18th. This represents a $2.00 dividend on an annualized basis and a yield of 2.11%. Colgate-Palmolive’s payout ratio is currently 57.31%.

Insider Buying and Selling at Colgate-Palmolive

In other news, CFO Stanley J. Sutula III sold 45,410 shares of the stock in a transaction dated Tuesday, November 5th. The shares were sold at an average price of $94.11, for a total transaction of $4,273,535.10. Following the transaction, the chief financial officer now owns 36,726 shares of the company’s stock, valued at $3,456,283.86. This represents a 55.29 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Insiders own 0.34% of the company’s stock.

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.