Assenagon Asset Management S.A. Increases Stock Position in Colgate-Palmolive (NYSE:CL)

Assenagon Asset Management S.A. grew its position in shares of Colgate-Palmolive (NYSE:CL) by 18.2% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 517,526 shares of the company’s stock after purchasing an additional 79,663 shares during the period. Assenagon Asset Management S.A.’s holdings in Colgate-Palmolive were worth $47,048,000 at the end of the most recent reporting period.

Other large investors have also recently made changes to their positions in the company. Reston Wealth Management LLC purchased a new position in Colgate-Palmolive during the 3rd quarter valued at approximately $42,000. Capital Performance Advisors LLP bought a new position in shares of Colgate-Palmolive during the 3rd quarter valued at approximately $53,000. Prospera Private Wealth LLC purchased a new position in shares of Colgate-Palmolive in the third quarter valued at $64,000. True Wealth Design LLC increased its position in Colgate-Palmolive by 1,460.9% in the third quarter. True Wealth Design LLC now owns 718 shares of the company’s stock worth $75,000 after purchasing an additional 672 shares during the last quarter. Finally, Continuum Advisory LLC raised its stake in Colgate-Palmolive by 93.4% during the third quarter. Continuum Advisory LLC now owns 762 shares of the company’s stock valued at $79,000 after purchasing an additional 368 shares in the last quarter. 80.41% of the stock is owned by institutional investors.

Insider Activity

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 owns 36,726 shares of the company’s stock, valued at approximately $3,456,283.86. This trade represents a 55.29 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 0.37% of the company’s stock.

Colgate-Palmolive Trading Up 0.3 %

Shares of NYSE CL opened at $87.90 on Thursday. Colgate-Palmolive has a twelve month low of $79.69 and a twelve month high of $109.30. The firm has a market cap of $71.82 billion, a PE ratio of 25.19, a price-to-earnings-growth ratio of 3.31 and a beta of 0.44. The business has a fifty day simple moving average of $92.36 and a two-hundred day simple moving average of $97.92. The company has a quick ratio of 0.68, a current ratio of 1.04 and a debt-to-equity ratio of 9.46.

Colgate-Palmolive Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, February 14th. Shareholders of record on Tuesday, January 21st will be issued a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a yield of 2.28%. The ex-dividend date is Tuesday, January 21st. Colgate-Palmolive’s payout ratio is 57.31%.

Wall Street Analyst Weigh In

CL has been the subject of a number of recent research reports. Stifel Nicolaus cut shares of Colgate-Palmolive from a “buy” rating to a “hold” rating and dropped their price objective for the stock from $105.00 to $101.00 in a research note on Monday, October 28th. Wells Fargo & Company reduced their price objective on Colgate-Palmolive from $92.00 to $83.00 and set an “underweight” rating on the stock in a research note on Tuesday, January 7th. Piper Sandler decreased their price objective on Colgate-Palmolive from $121.00 to $112.00 and set an “overweight” rating on the stock in a research report on Monday, January 6th. JPMorgan Chase & Co. lifted their target price on Colgate-Palmolive from $113.00 to $114.00 and gave the stock an “overweight” rating in a report on Friday, October 11th. Finally, TD Cowen decreased their price target on Colgate-Palmolive from $110.00 to $100.00 and set a “buy” rating on the stock in a report on Wednesday, January 8th. One equities research analyst has rated the stock with a sell rating, ten have issued a hold rating and twelve have given a buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $103.63.

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.