Colgate-Palmolive Company (NYSE:CL) Shares Bought by Connor Clark & Lunn Investment Management Ltd.

Key Points

• Connor Clark & Lunn Investment Management Ltd. significantly increased its stake in Colgate-Palmolive by 1,320.9% in the first quarter, owning 138,826 shares valued at $13 million.
• Several other institutional investors, such as Westend Capital Management and Cornerstone Planning Group, also substantially raised their positions in Colgate-Palmolive during the same period, indicating growing interest in the stock.
• Colgate-Palmolive reported earnings per share of $0.92 for the last quarter, surpassing estimates and experiencing a 1.0% annual revenue increase.

Connor Clark & Lunn Investment Management Ltd. boosted its position in shares of Colgate-Palmolive Company (NYSE:CL - Free Report) by 1,320.9% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 138,826 shares of the company's stock after buying an additional 129,056 shares during the period. Connor Clark & Lunn Investment Management Ltd.'s holdings in Colgate-Palmolive were worth $13,008,000 as of its most recent SEC filing.

Other institutional investors also recently added to or reduced their stakes in the company. Westend Capital Management LLC grew its stake in shares of Colgate-Palmolive by 111.1% in the 1st quarter. Westend Capital Management LLC now owns 266 shares of the company's stock valued at $25,000 after purchasing an additional 140 shares during the last quarter. Cornerstone Planning Group LLC lifted its holdings in shares of Colgate-Palmolive by 1,913.3% during the first quarter. Cornerstone Planning Group LLC now owns 302 shares of the company's stock worth $28,000 after purchasing an additional 287 shares during the period. Vermillion Wealth Management Inc. purchased a new position in Colgate-Palmolive in the 4th quarter valued at $31,000. Accredited Wealth Management LLC acquired a new position in Colgate-Palmolive in the 4th quarter valued at $34,000. Finally, Bernard Wealth Management Corp. purchased a new position in Colgate-Palmolive during the 4th quarter worth $36,000. Institutional investors and hedge funds own 80.41% of the company's stock.

Colgate-Palmolive Trading Up 1.6%

Shares of CL traded up $1.34 during mid-day trading on Wednesday, hitting $86.31. The company had a trading volume of 3,534,354 shares, compared to its average volume of 4,909,311. Colgate-Palmolive Company has a 1-year low of $82.40 and a 1-year high of $109.30. The business's 50-day simple moving average is $88.49 and its 200-day simple moving average is $90.10. The stock has a market cap of $69.76 billion, a PE ratio of 24.24, a P/E/G ratio of 4.42 and a beta of 0.35. The company has a quick ratio of 0.57, a current ratio of 0.89 and a debt-to-equity ratio of 6.79.

Colgate-Palmolive (NYSE:CL - Get Free Report) last announced its quarterly earnings results on Friday, August 1st. The company reported $0.92 EPS for the quarter, topping the consensus estimate of $0.89 by $0.03. The company had revenue of $5.11 billion during the quarter, compared to analyst estimates of $5.03 billion. Colgate-Palmolive had a return on equity of 377.63% and a net margin of 14.55%. The firm's revenue was up 1.0% on a year-over-year basis. During the same period in the prior year, the firm posted $0.91 earnings per share. Sell-side analysts forecast that Colgate-Palmolive Company will post 3.75 earnings per share for the current year.

Colgate-Palmolive Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, August 15th. Shareholders of record on Friday, July 18th will be given a $0.52 dividend. This represents a $2.08 dividend on an annualized basis and a yield of 2.4%. The ex-dividend date of this dividend is Friday, July 18th. Colgate-Palmolive's dividend payout ratio is presently 58.43%.

Analyst Upgrades and Downgrades

A number of equities analysts have recently weighed in on the stock. Wall Street Zen cut shares of Colgate-Palmolive from a "buy" rating to a "hold" rating in a research note on Wednesday, May 7th. Morgan Stanley dropped their target price on shares of Colgate-Palmolive from $104.00 to $96.00 and set an "overweight" rating for the company in a report on Monday, August 4th. Wells Fargo & Company decreased their price target on Colgate-Palmolive from $88.00 to $83.00 and set an "underweight" rating on the stock in a research note on Monday, August 4th. JPMorgan Chase & Co. dropped their price objective on Colgate-Palmolive from $99.00 to $95.00 and set an "overweight" rating for the company in a research note on Monday, August 4th. Finally, Citigroup decreased their target price on Colgate-Palmolive from $108.00 to $105.00 and set a "buy" rating on the stock in a research report on Monday, August 4th. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and seven have issued a buy rating to the company's stock. According to data from MarketBeat, the stock currently has an average rating of "Hold" and an average price target of $98.92.

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.