MetLife Investment Management LLC Lowers Position in Colgate-Palmolive (NYSE:CL)

MetLife Investment Management LLC cut its position in shares of Colgate-Palmolive (NYSE:CL) by 2.8% in the third quarter, Holdings Channel.com reports. The institutional investor owned 232,742 shares of the company’s stock after selling 6,686 shares during the period. MetLife Investment Management LLC’s holdings in Colgate-Palmolive were worth $24,161,000 at the end of the most recent reporting period.

Other large investors also recently bought and sold shares of the company. E Fund Management Hong Kong Co. Ltd. purchased a new position in shares of Colgate-Palmolive in the 2nd quarter worth $25,000. Continuum Advisory LLC raised its position in Colgate-Palmolive by 46.5% during the second quarter. Continuum Advisory LLC now owns 394 shares of the company’s stock valued at $38,000 after purchasing an additional 125 shares during the period. Reston Wealth Management LLC bought a new stake in shares of Colgate-Palmolive in the 3rd quarter valued at approximately $42,000. Capital Performance Advisors LLP purchased a new position in shares of Colgate-Palmolive in the 3rd quarter worth approximately $53,000. Finally, Prospera Private Wealth LLC purchased a new position in shares of Colgate-Palmolive in the 3rd quarter worth approximately $64,000. Institutional investors own 80.41% of the company’s stock.

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 on 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 completion of the transaction, the chief financial officer now directly owns 36,726 shares in the company, valued at approximately $3,456,283.86. This represents a 55.29 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 0.37% of the stock is owned by company insiders.

Colgate-Palmolive Trading Up 0.2 %

Shares of NYSE:CL opened at $96.75 on Thursday. 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 business has a 50 day moving average of $97.61 and a two-hundred day moving average of $98.58. Colgate-Palmolive has a 12-month low of $75.50 and a 12-month high of $109.30. The company has a market capitalization of $79.05 billion, a PE ratio of 27.72, a PEG ratio of 3.40 and a beta of 0.42.

Colgate-Palmolive Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, November 15th. Stockholders of record on Friday, October 18th were given a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis 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%.

Analysts Set New Price Targets

A number of research firms recently commented on CL. JPMorgan Chase & Co. lifted their price target on shares of Colgate-Palmolive from $113.00 to $114.00 and gave the stock an “overweight” rating in a research note on Friday, October 11th. Redburn Atlantic raised shares of Colgate-Palmolive to a “hold” rating in a research report on Thursday, August 1st. Piper Sandler started coverage on Colgate-Palmolive in a research note on Tuesday, September 24th. They issued an “overweight” rating and a $121.00 target price on the stock. StockNews.com upgraded Colgate-Palmolive from a “hold” rating to a “buy” rating in a report on Monday. Finally, Stifel Nicolaus lowered shares of Colgate-Palmolive from a “buy” rating to a “hold” rating and decreased their price objective for the company from $105.00 to $101.00 in a research report on Monday, October 28th. One research analyst has rated the stock with a sell rating, nine have given a hold rating and thirteen have assigned a buy rating to the company. Based on data from MarketBeat.com, Colgate-Palmolive currently has an average rating of “Moderate Buy” and a consensus price target of $105.11.

About Colgate-Palmolive

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.