Investment Management Corp of Ontario Boosts Stake in Colgate-Palmolive (NYSE:CL)

Investment Management Corp of Ontario lifted its holdings in shares of Colgate-Palmolive (NYSE:CL) by 403.3% in the 3rd quarter, Holdings Channel reports. The firm owned 182,286 shares of the company’s stock after acquiring an additional 146,068 shares during the period. Investment Management Corp of Ontario’s holdings in Colgate-Palmolive were worth $18,923,000 at the end of the most recent reporting period.

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

Insider Buying and Selling

In other Colgate-Palmolive news, CFO Stanley J. Sutula III sold 45,410 shares of the business’s stock in a transaction dated 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 in the company, valued at approximately $3,456,283.86. The trade was a 55.29 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.37% of the stock is owned by company insiders.

Colgate-Palmolive Stock Up 0.1 %

CL stock opened at $97.20 on Tuesday. 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 $79.41 billion, a price-to-earnings ratio of 27.82, a PEG ratio of 3.45 and a beta of 0.43. The firm has a 50-day moving average of $97.38 and a two-hundred day moving average of $98.64. 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 Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, November 15th. Investors of record on Friday, October 18th were issued 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 2.06%. Colgate-Palmolive’s dividend payout ratio is presently 57.31%.

Wall Street Analysts Forecast Growth

A number of analysts have commented on the company. JPMorgan Chase & Co. boosted their target price on Colgate-Palmolive from $113.00 to $114.00 and gave the stock an “overweight” rating in a research report on Friday, October 11th. StockNews.com upgraded shares of Colgate-Palmolive from a “hold” rating to a “buy” rating in a report on Monday, November 25th. Deutsche Bank Aktiengesellschaft downgraded shares of Colgate-Palmolive from a “buy” rating to a “hold” rating and raised their price objective for the stock from $107.00 to $109.00 in a report on Monday, September 9th. Stifel Nicolaus cut Colgate-Palmolive from a “buy” rating to a “hold” rating and reduced their target price for the stock from $105.00 to $101.00 in a report on Monday, October 28th. Finally, 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 report on Wednesday, September 4th. One equities research analyst has rated the stock with a sell rating, nine have assigned a hold rating and thirteen have given a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $105.11.

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.