UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC Cuts Stock Position in Colgate-Palmolive (NYSE:CL)

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC cut its stake in shares of Colgate-Palmolive (NYSE:CL) by 6.1% in the 3rd quarter, HoldingsChannel reports. The fund owned 5,667,336 shares of the company’s stock after selling 365,109 shares during the quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC’s holdings in Colgate-Palmolive were worth $588,326,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of CL. B. Riley Wealth Advisors Inc. boosted its holdings in 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 acquiring an additional 138 shares during the period. Atria Investments Inc raised its position in Colgate-Palmolive by 3.2% during the 1st quarter. Atria Investments Inc now owns 67,625 shares of the company’s stock valued at $6,090,000 after purchasing an additional 2,115 shares during the last quarter. Burney Co. raised its position in Colgate-Palmolive by 11.0% during the 1st quarter. Burney Co. now owns 21,813 shares of the company’s stock valued at $1,964,000 after purchasing an additional 2,160 shares during the last quarter. Cetera Investment Advisers raised its position in Colgate-Palmolive by 254.0% during the 1st quarter. Cetera Investment Advisers now owns 149,180 shares of the company’s stock valued at $13,434,000 after purchasing an additional 107,041 shares during the last quarter. Finally, Cetera Advisors LLC raised its position in Colgate-Palmolive by 105.3% during the 1st quarter. Cetera Advisors LLC now owns 49,362 shares of the company’s stock valued at $4,445,000 after purchasing an additional 25,315 shares during the last quarter. 80.41% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of research analysts have commented on the company. UBS Group upped their price target on Colgate-Palmolive from $119.00 to $122.00 and gave the company a “buy” rating in a research report on Wednesday, September 4th. JPMorgan Chase & Co. upped their price target on Colgate-Palmolive from $113.00 to $114.00 and gave the company an “overweight” rating in a research report on Friday, October 11th. Deutsche Bank Aktiengesellschaft lowered Colgate-Palmolive from a “buy” rating to a “hold” rating and upped their price target for the company from $107.00 to $109.00 in a research report on Monday, September 9th. Piper Sandler started coverage on Colgate-Palmolive in a research report on Tuesday, September 24th. They issued an “overweight” rating and a $121.00 target price for the company. Finally, StockNews.com raised Colgate-Palmolive from a “hold” rating to a “buy” rating in a research report on Monday. One research analyst has rated the stock with a sell rating, nine have given a hold rating and thirteen have given a buy rating to the company. According to data from MarketBeat, Colgate-Palmolive has a consensus rating of “Moderate Buy” and an average target price of $105.11.

Insider Buying and Selling at Colgate-Palmolive

In other Colgate-Palmolive news, CFO Stanley J. Sutula III sold 45,410 shares of the stock in a transaction on Tuesday, November 5th. The stock was sold at an average price of $94.11, for a total transaction of $4,273,535.10. Following the sale, the chief financial officer now directly owns 36,726 shares in the company, valued at approximately $3,456,283.86. This trade represents a 55.29 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Company insiders own 0.37% of the company’s stock.

Colgate-Palmolive Stock Performance

Shares of CL opened at $96.76 on Friday. The business’s fifty day simple moving average is $97.51 and its two-hundred day simple moving average is $98.57. 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 $79.05 billion, a price-to-earnings ratio of 27.73, a P/E/G 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. Shareholders of record on Friday, October 18th were paid a dividend of $0.50 per share. The ex-dividend date of this dividend was Friday, October 18th. This represents a $2.00 annualized dividend and a yield of 2.07%. Colgate-Palmolive’s dividend payout ratio is 57.31%.

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.