Connor Clark & Lunn Investment Management Ltd. Raises Stake in Colgate-Palmolive (NYSE:CL)

Connor Clark & Lunn Investment Management Ltd. lifted its position in Colgate-Palmolive (NYSE:CL) by 36.9% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 14,689 shares of the company’s stock after purchasing an additional 3,960 shares during the period. Connor Clark & Lunn Investment Management Ltd.’s holdings in Colgate-Palmolive were worth $1,525,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also recently modified their holdings of the company. Gordian Advisors LLC bought a new position in shares of Colgate-Palmolive during the third quarter worth $602,000. Carrera Capital Advisors lifted its position in shares of Colgate-Palmolive by 23.1% in the third quarter. Carrera Capital Advisors now owns 39,170 shares of the company’s stock worth $4,066,000 after buying an additional 7,353 shares in the last quarter. Vontobel Holding Ltd. grew its holdings in Colgate-Palmolive by 224.6% during the 3rd quarter. Vontobel Holding Ltd. now owns 795,938 shares of the company’s stock valued at $82,626,000 after buying an additional 550,750 shares in the last quarter. PGGM Investments boosted its position in shares of Colgate-Palmolive by 171.8% during the 2nd quarter. PGGM Investments now owns 157,608 shares of the company’s stock valued at $15,294,000 after acquiring an additional 99,624 shares during the last quarter. Finally, QRG Capital Management Inc. raised its stake in Colgate-Palmolive by 11.2% during the second quarter. QRG Capital Management Inc. now owns 57,275 shares of the company’s stock valued at $5,558,000 after purchasing an additional 5,751 shares in the last quarter. 80.41% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other Colgate-Palmolive news, CFO Stanley J. Sutula III sold 45,410 shares of the stock in a transaction that occurred 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 completion of the transaction, the chief financial officer now owns 36,726 shares of the company’s stock, valued at $3,456,283.86. This represents a 55.29 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.37% of the stock is currently owned by company insiders.

Colgate-Palmolive Price Performance

NYSE:CL opened at $96.59 on Wednesday. The company has a 50 day moving average price of $97.74 and a 200-day moving average price of $98.59. Colgate-Palmolive has a 1-year low of $75.50 and a 1-year high of $109.30. The firm has a market cap of $78.91 billion, a price-to-earnings ratio of 27.68, a price-to-earnings-growth ratio of 3.39 and a beta of 0.42. The company has a debt-to-equity ratio of 9.46, a current ratio of 1.04 and a quick ratio of 0.68.

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. This represents a $2.00 dividend on an annualized basis and a dividend yield of 2.07%. The ex-dividend date was Friday, October 18th. Colgate-Palmolive’s dividend payout ratio (DPR) is presently 57.31%.

Analyst Ratings Changes

Several analysts have recently issued reports on CL shares. Piper Sandler started coverage on shares of Colgate-Palmolive in a research report on Tuesday, September 24th. They set an “overweight” rating and a $121.00 target price on the stock. Wells Fargo & Company dropped their price objective on shares of Colgate-Palmolive from $100.00 to $92.00 and set an “underweight” rating for the company in a research note on Monday, October 28th. JPMorgan Chase & Co. raised their price objective on shares of Colgate-Palmolive from $113.00 to $114.00 and gave the stock an “overweight” rating in a research note on Friday, October 11th. Deutsche Bank Aktiengesellschaft lowered Colgate-Palmolive from a “buy” rating to a “hold” rating and increased their target price for the stock from $107.00 to $109.00 in a research note on Monday, September 9th. Finally, TD Cowen cut their price target on shares of Colgate-Palmolive from $115.00 to $110.00 and set a “buy” rating on the stock in a report on Monday, October 28th. One equities research analyst has rated the stock with a sell rating, nine have assigned a hold rating and thirteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $105.11.

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.