Northwest & Ethical Investments L.P. Has $12.55 Million Stock Position in Colgate-Palmolive (NYSE:CL)

by · The Markets Daily

Northwest & Ethical Investments L.P. grew its stake in Colgate-Palmolive (NYSE:CL – Free Report) by 18.5% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 120,910 shares of the company’s stock after purchasing an additional 18,844 shares during the quarter. Northwest & Ethical Investments L.P.’s holdings in Colgate-Palmolive were worth $12,552,000 as of its most recent SEC filing.

A number of other hedge funds have also bought and sold shares of CL. Acadian Asset Management LLC increased its holdings 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 during the period. FMR LLC grew its position in Colgate-Palmolive by 65.6% during the third quarter. FMR LLC now owns 6,749,275 shares of the company’s stock worth $700,642,000 after buying an additional 2,674,807 shares in the last quarter. Massachusetts Financial Services Co. MA increased its stake 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 worth $870,400,000 after acquiring an additional 2,593,313 shares during the period. AQR Capital Management LLC raised its holdings in Colgate-Palmolive by 58.6% in the 2nd quarter. AQR Capital Management LLC now owns 2,416,943 shares of the company’s stock valued at $234,540,000 after acquiring an additional 892,706 shares in the last quarter. Finally, Canada Pension Plan Investment Board lifted its position in shares of Colgate-Palmolive by 38.8% during the 2nd quarter. Canada Pension Plan Investment Board now owns 2,541,975 shares of the company’s stock valued at $246,673,000 after acquiring an additional 710,500 shares during the period. 80.41% of the stock is owned by institutional investors.

Colgate-Palmolive Stock Performance

NYSE CL traded up $0.18 during trading on Thursday, hitting $96.76. 3,427,657 shares of the company’s stock traded hands, compared to its average volume of 4,386,802. The business has a 50 day moving average of $97.61 and a 200-day moving average of $98.58. Colgate-Palmolive has a 12-month low of $75.50 and a 12-month high of $109.30. The company has a debt-to-equity ratio of 9.46, a quick ratio of 0.68 and a current ratio of 1.04. The stock has a market capitalization of $79.05 billion, a price-to-earnings ratio of 27.72, a PEG ratio of 3.40 and a beta of 0.42.

Colgate-Palmolive Dividend Announcement

The business 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 dividend on an annualized basis and a yield of 2.07%. Colgate-Palmolive’s dividend payout ratio (DPR) is 57.31%.

Analyst Ratings Changes

A number of research analysts recently commented on CL shares. JPMorgan Chase & Co. boosted their price target on Colgate-Palmolive from $113.00 to $114.00 and gave the company an “overweight” rating in a research note on Friday, October 11th. UBS Group increased their price objective on shares of Colgate-Palmolive from $119.00 to $122.00 and gave the company a “buy” rating in a research note on Wednesday, September 4th. Piper Sandler assumed coverage on shares of Colgate-Palmolive in a research note on Tuesday, September 24th. They set an “overweight” rating and a $121.00 target price on the stock. Redburn Atlantic upgraded Colgate-Palmolive to a “hold” rating in a research note on Thursday, August 1st. Finally, Stifel Nicolaus lowered Colgate-Palmolive from a “buy” rating to a “hold” rating and reduced their price objective for the stock from $105.00 to $101.00 in a research report on Monday, October 28th. One investment analyst has rated the stock with a sell rating, nine have issued a hold rating and thirteen have given a buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $105.11.

View Our Latest Stock Report on Colgate-Palmolive

Insiders Place Their Bets

In other news, CFO Stanley J. Sutula III sold 45,410 shares of the business’s stock in a transaction on 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 transaction, the chief financial officer now directly owns 36,726 shares in the company, valued at $3,456,283.86. The trade was a 55.29 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 0.37% of the stock is owned by corporate insiders.

About Colgate-Palmolive

(Free Report)

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.

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