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

The Manufacturers Life Insurance Company raised its position in Colgate-Palmolive (NYSE:CL) by 36.9% in the 3rd quarter, according to its most recent filing with the SEC. The firm owned 954,570 shares of the company’s stock after acquiring an additional 257,361 shares during the period. The Manufacturers Life Insurance Company owned approximately 0.12% of Colgate-Palmolive worth $99,094,000 at the end of the most recent reporting period.

A number of other large investors have also made changes to their positions in CL. E Fund Management Hong Kong Co. Ltd. purchased a new position in shares of Colgate-Palmolive in the 2nd quarter valued at about $25,000. Continuum Advisory LLC increased its holdings in shares of Colgate-Palmolive by 46.5% in the 2nd 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 position in Colgate-Palmolive during the 3rd quarter valued at 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 purchased a new position in Colgate-Palmolive during the 3rd quarter valued at about $64,000. Hedge funds and other institutional investors own 80.41% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently commented on the stock. Piper Sandler assumed coverage on shares of Colgate-Palmolive in a report on Tuesday, September 24th. They set an “overweight” rating and a $121.00 price target for the company. Deutsche Bank Aktiengesellschaft cut shares of Colgate-Palmolive from a “buy” rating to a “hold” rating and lifted their price target for the company from $107.00 to $109.00 in a research report on Monday, September 9th. JPMorgan Chase & Co. lifted their price target on shares of Colgate-Palmolive from $113.00 to $114.00 and gave the company an “overweight” rating in a research report on Friday, October 11th. UBS Group lifted 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. Finally, Stifel Nicolaus lowered shares of Colgate-Palmolive from a “buy” rating to a “hold” rating and dropped their price objective for the company from $105.00 to $101.00 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 issued a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $105.11.

Insider Activity

In related news, CFO Stanley J. Sutula III sold 45,410 shares of the company’s stock in a transaction dated 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 completion of the sale, 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 transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Corporate insiders own 0.37% of the company’s stock.

Colgate-Palmolive Stock Performance

Shares of CL opened at $96.75 on Thursday. Colgate-Palmolive has a 1 year low of $75.50 and a 1 year high of $109.30. The company has a market cap of $79.05 billion, a price-to-earnings ratio of 27.72, a price-to-earnings-growth ratio of 3.40 and a beta of 0.42. 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 firm has a fifty day moving average of $97.61 and a 200-day moving average of $98.58.

Colgate-Palmolive Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, November 15th. Stockholders of record on Friday, October 18th were issued a dividend of $0.50 per share. This represents a $2.00 annualized dividend 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%.

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.