Sompo Asset Management Co. Ltd. Has $5.90 Million Stock Holdings in Colgate-Palmolive (NYSE:CL)

Sompo Asset Management Co. Ltd. grew its holdings in shares of Colgate-Palmolive (NYSE:CL) by 7.1% in the third quarter, Holdings Channel reports. The institutional investor owned 56,787 shares of the company’s stock after acquiring an additional 3,780 shares during the period. Sompo Asset Management Co. Ltd.’s holdings in Colgate-Palmolive were worth $5,895,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently made changes to their positions in the business. E Fund Management Hong Kong Co. Ltd. bought a new stake in shares of Colgate-Palmolive in the 2nd quarter worth $25,000. Continuum Advisory LLC lifted its position in shares of Colgate-Palmolive by 46.5% during the 2nd quarter. Continuum Advisory LLC now owns 394 shares of the company’s stock worth $38,000 after buying an additional 125 shares in the last quarter. Reston Wealth Management LLC purchased a new position in shares of Colgate-Palmolive in the 3rd quarter worth approximately $42,000. Capital Performance Advisors LLP purchased a new stake in shares of Colgate-Palmolive during the third quarter valued at approximately $53,000. Finally, Prospera Private Wealth LLC bought a new stake in Colgate-Palmolive during the third quarter worth $64,000. 80.41% of the stock is owned by institutional investors.

Analysts Set New Price Targets

CL has been the subject of a number of recent analyst reports. JPMorgan Chase & Co. upped their price objective on Colgate-Palmolive from $113.00 to $114.00 and gave the company an “overweight” rating in a research note on Friday, October 11th. 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 price objective on the stock. Wells Fargo & Company lowered their price objective on shares of Colgate-Palmolive from $100.00 to $92.00 and set an “underweight” rating on the stock in a research report on Monday, October 28th. Stifel Nicolaus lowered shares of Colgate-Palmolive from a “buy” rating to a “hold” rating and decreased their price target for the stock from $105.00 to $101.00 in a research note on Monday, October 28th. Finally, 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. One equities research analyst has rated the stock with a sell rating, nine have assigned a hold rating and thirteen have issued a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $105.11.

Insider Activity

In related news, CFO Stanley J. Sutula III sold 45,410 shares of the firm’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 sale, the chief financial officer now directly owns 36,726 shares of the company’s stock, valued at $3,456,283.86. This trade represents a 55.29 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Company insiders own 0.34% of the company’s stock.

Colgate-Palmolive Trading Up 0.7 %

Shares of Colgate-Palmolive stock opened at $94.92 on Friday. The company’s 50-day moving average price is $98.10 and its 200-day moving average price is $98.54. 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 has a 12-month low of $75.50 and a 12-month high of $109.30. The company has a market cap of $77.55 billion, a price-to-earnings ratio of 27.20, a PEG ratio of 3.36 and a beta of 0.42.

Colgate-Palmolive Dividend Announcement

The company also recently declared 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 annualized dividend and a yield of 2.11%. The ex-dividend date of this dividend was Friday, October 18th. Colgate-Palmolive’s payout ratio is 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.