Polar Asset Management Partners Inc. Cuts Position in Colgate-Palmolive (NYSE:CL)

Polar Asset Management Partners Inc. reduced its stake in shares of Colgate-Palmolive (NYSE:CL) by 79.2% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 13,200 shares of the company’s stock after selling 50,300 shares during the quarter. Polar Asset Management Partners Inc.’s holdings in Colgate-Palmolive were worth $1,370,000 as of its most recent SEC filing.

Other institutional investors also recently added to or reduced their stakes in the company. Acadian Asset Management LLC increased its position in shares of Colgate-Palmolive by 108.4% during the second quarter. Acadian Asset Management LLC now owns 5,682,280 shares of the company’s stock worth $551,367,000 after purchasing an additional 2,955,442 shares in the last quarter. FMR LLC increased its position in Colgate-Palmolive by 65.6% during the 3rd quarter. FMR LLC now owns 6,749,275 shares of the company’s stock valued at $700,642,000 after buying an additional 2,674,807 shares in the last quarter. Massachusetts Financial Services Co. MA increased its position in Colgate-Palmolive by 40.7% during the 2nd quarter. Massachusetts Financial Services Co. MA now owns 8,969,498 shares of the company’s stock valued at $870,400,000 after buying an additional 2,593,313 shares in the last quarter. AQR Capital Management LLC boosted its holdings in Colgate-Palmolive by 58.6% in the second quarter. AQR Capital Management LLC now owns 2,416,943 shares of the company’s stock worth $234,540,000 after acquiring an additional 892,706 shares in the last quarter. Finally, Canada Pension Plan Investment Board boosted its holdings in Colgate-Palmolive by 38.8% in the second 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.

Insider Activity at Colgate-Palmolive

In related news, CFO Stanley J. Sutula III sold 45,410 shares of the company’s 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 completion of the sale, the chief financial officer now owns 36,726 shares of the company’s stock, valued at approximately $3,456,283.86. This represents a 55.29 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 0.34% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

A number of analysts recently commented on the stock. Piper Sandler began coverage on shares of Colgate-Palmolive in a research note on Tuesday, September 24th. They issued an “overweight” rating and a $121.00 target price for the company. UBS Group lifted their price objective 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. TD Cowen cut their target price on Colgate-Palmolive from $115.00 to $110.00 and set a “buy” rating on the stock in a research report on Monday, October 28th. Wells Fargo & Company lowered their price target 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. Finally, Deutsche Bank Aktiengesellschaft lowered Colgate-Palmolive from a “buy” rating to a “hold” rating and increased their price objective for the company from $107.00 to $109.00 in a report on Monday, September 9th. One equities research 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’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $105.11.

Colgate-Palmolive Trading Up 0.3 %

Shares of Colgate-Palmolive stock opened at $95.10 on Friday. The firm has a 50-day simple moving average of $96.73 and a two-hundred day simple moving average of $98.61. The company has a debt-to-equity ratio of 9.46, a quick ratio of 0.68 and a current ratio of 1.04. Colgate-Palmolive has a fifty-two week low of $75.50 and a fifty-two week high of $109.30. The company has a market cap of $77.70 billion, a P/E ratio of 27.25, a price-to-earnings-growth ratio of 3.38 and a beta of 0.43.

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. The ex-dividend date was Friday, October 18th. This represents a $2.00 dividend on an annualized basis and a dividend yield of 2.10%. Colgate-Palmolive’s dividend payout ratio (DPR) is 57.31%.

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.