Colgate-Palmolive (NYSE:CL) Shares Acquired by The Manufacturers Life Insurance Company

The Manufacturers Life Insurance Company raised its holdings in Colgate-Palmolive (NYSE:CL) by 36.9% in the third quarter, Holdings Channel.com reports. The fund owned 954,570 shares of the company’s stock after acquiring an additional 257,361 shares during the period. The Manufacturers Life Insurance Company’s holdings in Colgate-Palmolive were worth $99,094,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently bought and sold shares of the business. Acadian Asset Management LLC raised its holdings in Colgate-Palmolive by 108.4% during the 2nd quarter. Acadian Asset Management LLC now owns 5,682,280 shares of the company’s stock worth $551,367,000 after buying an additional 2,955,442 shares during the period. Massachusetts Financial Services Co. MA raised its holdings 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 buying an additional 2,593,313 shares during the period. AQR Capital Management LLC raised its holdings in Colgate-Palmolive by 58.6% during the 2nd quarter. AQR Capital Management LLC now owns 2,416,943 shares of the company’s stock worth $234,540,000 after buying an additional 892,706 shares during the period. Canada Pension Plan Investment Board raised its holdings in 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 worth $246,673,000 after buying an additional 710,500 shares during the period. Finally, Dimensional Fund Advisors LP raised its holdings in Colgate-Palmolive by 19.2% during the 2nd quarter. Dimensional Fund Advisors LP now owns 3,503,450 shares of the company’s stock worth $340,006,000 after buying an additional 565,524 shares during the period. 80.41% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other 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 value of $4,273,535.10. Following the completion of the sale, the chief financial officer now directly owns 36,726 shares of the company’s stock, valued at approximately $3,456,283.86. This represents a 55.29 % decrease in their ownership of the stock. The transaction 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 Stock Up 0.2 %

Shares of Colgate-Palmolive stock opened at $96.75 on Thursday. The stock has a market capitalization of $79.05 billion, a P/E ratio of 27.72, a PEG ratio of 3.40 and a beta of 0.42. The company has a quick ratio of 0.68, a current ratio of 1.04 and a debt-to-equity ratio of 9.46. The stock has a 50 day moving average price of $97.61 and a two-hundred day moving average price of $98.58. Colgate-Palmolive has a 12-month low of $75.50 and a 12-month high of $109.30.

Colgate-Palmolive Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, November 15th. Shareholders of record on Friday, October 18th were given 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 payout ratio is currently 57.31%.

Analysts Set New Price Targets

Several research firms have issued reports on CL. Wells Fargo & Company cut their price objective on Colgate-Palmolive from $100.00 to $92.00 and set an “underweight” rating on the stock in a report on Monday, October 28th. TD Cowen dropped their target price on Colgate-Palmolive from $115.00 to $110.00 and set a “buy” rating on the stock in a report on Monday, October 28th. 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 report on Friday, October 11th. UBS Group upped their target price on Colgate-Palmolive from $119.00 to $122.00 and gave the company a “buy” rating in a report on Wednesday, September 4th. Finally, Deutsche Bank Aktiengesellschaft downgraded Colgate-Palmolive from a “buy” rating to a “hold” rating and upped their target price for the company from $107.00 to $109.00 in a report on Monday, September 9th. One equities research 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 MarketBeat, the stock presently has a consensus 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.