Northwest & Ethical Investments L.P. Buys 18,844 Shares of Colgate-Palmolive (NYSE:CL)

Northwest & Ethical Investments L.P. grew its stake in shares of Colgate-Palmolive (NYSE:CL) by 18.5% in the third quarter, HoldingsChannel.com reports. The firm owned 120,910 shares of the company’s stock after buying an additional 18,844 shares during the quarter. Northwest & Ethical Investments L.P.’s holdings in Colgate-Palmolive were worth $12,552,000 at the end of the most recent quarter.

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

Colgate-Palmolive Stock Performance

Shares of CL stock traded up $0.18 during trading hours on Thursday, reaching $96.76. 3,427,657 shares of the company traded hands, compared to its average volume of 4,386,802. The firm has a 50-day moving average price of $97.61 and a 200 day moving average price of $98.58. The company has a market cap of $79.05 billion, a P/E ratio of 27.72, a P/E/G ratio of 3.40 and a beta of 0.42. 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 current ratio of 1.04 and a quick ratio of 0.68.

Colgate-Palmolive Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, November 15th. Investors of record on Friday, October 18th were paid 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 57.31%.

Insider Buying and Selling

In related news, CFO Stanley J. Sutula III sold 45,410 shares of the stock in a transaction dated 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 sale, the chief financial officer now owns 36,726 shares in the company, valued at approximately $3,456,283.86. This trade represents a 55.29 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 0.37% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

CL has been the subject of several analyst reports. TD Cowen reduced their price target on Colgate-Palmolive from $115.00 to $110.00 and set a “buy” rating for the company in a report on Monday, October 28th. UBS Group upped their target price on shares of Colgate-Palmolive from $119.00 to $122.00 and gave the stock a “buy” rating in a research note on Wednesday, September 4th. Piper Sandler began coverage on shares of Colgate-Palmolive in a report on Tuesday, September 24th. They set an “overweight” rating and a $121.00 price target on the stock. Stifel Nicolaus lowered shares of Colgate-Palmolive from a “buy” rating to a “hold” rating and decreased their price objective for the stock from $105.00 to $101.00 in a report on Monday, October 28th. Finally, Redburn Atlantic upgraded Colgate-Palmolive to a “hold” rating in a research note on Thursday, August 1st. One analyst has rated the stock with a sell rating, nine have assigned a hold rating and thirteen have issued 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 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.