Investment Management Corp of Ontario Buys 146,068 Shares of Colgate-Palmolive (NYSE:CL)

Investment Management Corp of Ontario lifted its position in shares of Colgate-Palmolive (NYSE:CL) by 403.3% during the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 182,286 shares of the company’s stock after purchasing an additional 146,068 shares during the quarter. Investment Management Corp of Ontario’s holdings in Colgate-Palmolive were worth $18,923,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors have also recently made changes to their positions in the company. E Fund Management Hong Kong Co. Ltd. bought a new stake in shares of Colgate-Palmolive during the 2nd quarter worth approximately $25,000. Continuum Advisory LLC grew its position in shares of Colgate-Palmolive by 46.5% in the second quarter. Continuum Advisory LLC now owns 394 shares of the company’s stock valued at $38,000 after purchasing an additional 125 shares in the last quarter. Reston Wealth Management LLC purchased a new stake in shares of Colgate-Palmolive in the 3rd quarter valued at approximately $42,000. Capital Performance Advisors LLP purchased a new position in shares of Colgate-Palmolive in the 3rd quarter valued at about $53,000. Finally, Prospera Private Wealth LLC acquired a new stake in shares of Colgate-Palmolive during the third quarter worth about $64,000. Hedge funds and other institutional investors own 80.41% of the company’s stock.

Colgate-Palmolive Stock Up 0.1 %

Shares of NYSE CL opened at $97.20 on Tuesday. The firm 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 business’s 50 day moving average is $97.38 and its two-hundred day moving average is $98.64. 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 has a 52-week low of $75.50 and a 52-week high of $109.30.

Colgate-Palmolive Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, November 15th. Stockholders of record on Friday, October 18th were given a $0.50 dividend. This represents a $2.00 annualized dividend and a dividend yield of 2.06%. The ex-dividend date of this dividend was Friday, October 18th. Colgate-Palmolive’s payout ratio is currently 57.31%.

Insider Activity

In other Colgate-Palmolive news, CFO Stanley J. Sutula III sold 45,410 shares of the firm’s stock in a transaction 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 sale, the chief financial officer now directly owns 36,726 shares in the company, valued at $3,456,283.86. This trade represents a 55.29 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Company insiders own 0.37% of the company’s stock.

Analyst Ratings Changes

A number of brokerages have recently commented on CL. Piper Sandler started coverage on Colgate-Palmolive in a research report on Tuesday, September 24th. They issued an “overweight” rating and a $121.00 price objective for the company. StockNews.com upgraded shares of Colgate-Palmolive from a “hold” rating to a “buy” rating in a report on Monday, November 25th. JPMorgan Chase & Co. upped their target price on Colgate-Palmolive from $113.00 to $114.00 and gave the company an “overweight” rating in a research note on Friday, October 11th. Stifel Nicolaus lowered shares of Colgate-Palmolive from a “buy” rating to a “hold” rating and cut their price objective for the company from $105.00 to $101.00 in a report on Monday, October 28th. Finally, TD Cowen decreased their price target on Colgate-Palmolive from $115.00 to $110.00 and set a “buy” rating for the company in a research note on Monday, October 28th. One analyst has rated the stock with a sell rating, nine have given a hold rating and thirteen have given a buy rating to the company. Based on data from MarketBeat, Colgate-Palmolive 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.