Ontario Teachers Pension Plan Board Sells 13,378 Shares of Colgate-Palmolive (NYSE:CL)

Ontario Teachers Pension Plan Board lowered its position in shares of Colgate-Palmolive (NYSE:CL) by 42.8% in the third quarter, HoldingsChannel reports. The firm owned 17,888 shares of the company’s stock after selling 13,378 shares during the period. Ontario Teachers Pension Plan Board’s holdings in Colgate-Palmolive were worth $1,857,000 at the end of the most recent reporting period.

Several other institutional investors have also recently added to or reduced their stakes in CL. Price T Rowe Associates Inc. MD increased its stake in shares of Colgate-Palmolive by 27.8% in the first quarter. Price T Rowe Associates Inc. MD now owns 41,067,130 shares of the company’s stock valued at $3,698,096,000 after buying an additional 8,933,912 shares in the last quarter. Swedbank AB acquired a new stake in Colgate-Palmolive in the 1st quarter valued at about $286,370,000. Acadian Asset Management LLC raised its stake in shares of Colgate-Palmolive by 108.4% in the second quarter. Acadian Asset Management LLC now owns 5,682,280 shares of the company’s stock worth $551,367,000 after acquiring an additional 2,955,442 shares during the last quarter. Massachusetts Financial Services Co. MA raised its stake in shares of Colgate-Palmolive by 40.7% in the second quarter. Massachusetts Financial Services Co. MA now owns 8,969,498 shares of the company’s stock worth $870,400,000 after acquiring an additional 2,593,313 shares during the last quarter. Finally, AQR Capital Management LLC lifted its position in shares of Colgate-Palmolive by 58.6% during the second quarter. AQR Capital Management LLC now owns 2,416,943 shares of the company’s stock worth $234,540,000 after purchasing an additional 892,706 shares in the last quarter. 80.41% of the stock is owned by institutional investors.

Colgate-Palmolive Trading Down 1.1 %

Shares of NYSE CL opened at $93.61 on Wednesday. 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 twelve month low of $75.17 and a twelve month high of $109.30. The company’s fifty day moving average is $98.80 and its 200-day moving average is $98.56. The stock has a market cap of $76.48 billion, a price-to-earnings ratio of 26.82, a P/E/G ratio of 3.34 and a beta of 0.42.

Colgate-Palmolive Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, November 15th. Shareholders of record on Friday, October 18th were paid a $0.50 dividend. 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 2.14%. Colgate-Palmolive’s payout ratio is 57.31%.

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on CL. HSBC restated a “hold” rating on shares of Colgate-Palmolive in a research report on Friday, July 26th. Stifel Nicolaus downgraded Colgate-Palmolive from a “buy” rating to a “hold” rating and dropped their target price for the stock from $105.00 to $101.00 in a research report on Monday, October 28th. JPMorgan Chase & Co. upped their price target on Colgate-Palmolive from $113.00 to $114.00 and gave the company an “overweight” rating in a research note on Friday, October 11th. Barclays lifted their price objective on Colgate-Palmolive from $91.00 to $96.00 and gave the stock an “equal weight” rating in a research report on Monday, July 29th. Finally, Morgan Stanley upped their target price on shares of Colgate-Palmolive from $103.00 to $111.00 and gave the company an “overweight” rating in a research report on Monday, July 29th. One equities research analyst has rated the stock with a sell rating, nine have assigned a hold rating and thirteen have issued a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $105.11.

Insiders Place Their Bets

In related news, CFO Stanley J. Sutula III sold 45,410 shares of the company’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 completion of the transaction, 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 position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Martina Hundmejean sold 2,313 shares of Colgate-Palmolive stock in a transaction dated Friday, August 23rd. The shares were sold at an average price of $103.86, for a total value of $240,228.18. Following the completion of the sale, the director now directly owns 11,755 shares in the company, valued at $1,220,874.30. This represents a 16.44 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 0.37% of the company’s stock.

Colgate-Palmolive Company 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.