Massachusetts Financial Services Co. MA Increases Stake in Colgate-Palmolive (NYSE:CL)

Massachusetts Financial Services Co. MA lifted its position in Colgate-Palmolive (NYSE:CL) by 6.2% during the 3rd quarter, according to its most recent disclosure with the SEC. The fund owned 9,526,990 shares of the company’s stock after purchasing an additional 557,492 shares during the period. Massachusetts Financial Services Co. MA owned about 1.17% of Colgate-Palmolive worth $988,997,000 as of its most recent SEC filing.

A number of other large investors have also added to or reduced their stakes in the company. Price T Rowe Associates Inc. MD lifted its stake in shares of Colgate-Palmolive by 27.8% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 41,067,130 shares of the company’s stock valued at $3,698,096,000 after purchasing an additional 8,933,912 shares during the period. Swedbank AB bought a new position in Colgate-Palmolive in the first quarter worth $286,370,000. Acadian Asset Management LLC boosted its holdings in shares of Colgate-Palmolive by 108.4% during the 2nd quarter. Acadian Asset Management LLC now owns 5,682,280 shares of the company’s stock valued at $551,367,000 after buying an additional 2,955,442 shares in the last quarter. AQR Capital Management LLC grew its position in shares of Colgate-Palmolive by 58.6% in the 2nd quarter. AQR Capital Management LLC now owns 2,416,943 shares of the company’s stock worth $234,540,000 after buying an additional 892,706 shares during the period. Finally, Canada Pension Plan Investment Board increased its stake in shares of Colgate-Palmolive by 38.8% in the 2nd quarter. Canada Pension Plan Investment Board now owns 2,541,975 shares of the company’s stock worth $246,673,000 after acquiring an additional 710,500 shares in the last quarter. Institutional investors own 80.41% of the company’s stock.

Colgate-Palmolive Stock Performance

Shares of Colgate-Palmolive stock opened at $93.91 on Thursday. Colgate-Palmolive has a 12 month low of $75.39 and a 12 month high of $109.30. The stock’s fifty day moving average price is $98.56 and its 200-day moving average price is $98.52. The firm has a market cap of $76.73 billion, a P/E ratio of 26.91, a P/E/G ratio of 3.34 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.

Colgate-Palmolive Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, November 15th. Investors of record on Friday, October 18th were paid a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a dividend yield of 2.13%. The ex-dividend date of this dividend was Friday, October 18th. Colgate-Palmolive’s dividend payout ratio (DPR) is currently 57.31%.

Insider Transactions at Colgate-Palmolive

In related news, CFO Stanley J. Sutula III sold 45,410 shares of the 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 transaction, 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 position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Martina Hundmejean sold 2,313 shares of the business’s stock in a transaction that occurred on Friday, August 23rd. The stock was sold at an average price of $103.86, for a total transaction of $240,228.18. Following the sale, the director now directly owns 11,755 shares in the company, valued at approximately $1,220,874.30. This represents a 16.44 % decrease in their position. The disclosure for this sale can be found here. Insiders own 0.34% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on the stock. Deutsche Bank Aktiengesellschaft lowered shares of Colgate-Palmolive from a “buy” rating to a “hold” rating and lifted their target price for the company from $107.00 to $109.00 in a report on Monday, September 9th. Stifel Nicolaus downgraded Colgate-Palmolive from a “buy” rating to a “hold” rating and dropped their target price for the stock from $105.00 to $101.00 in a report on Monday, October 28th. Morgan Stanley raised their price target on Colgate-Palmolive from $103.00 to $111.00 and gave the company an “overweight” rating in a report on Monday, July 29th. UBS Group upped their price target on shares of Colgate-Palmolive from $119.00 to $122.00 and gave the stock a “buy” rating in a research note on Wednesday, September 4th. Finally, HSBC restated a “hold” rating on shares of Colgate-Palmolive in a research note on Friday, July 26th. One equities research analyst has rated the stock with a sell rating, nine have assigned a hold rating and thirteen have assigned a buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average 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.