CIBC Asset Management Inc Sells 23,334 Shares of Colgate-Palmolive (NYSE:CL)

CIBC Asset Management Inc decreased its position in Colgate-Palmolive (NYSE:CL - Free Report) by 11.0% in the third quarter, according to its most recent 13F filing with the SEC. The firm owned 189,525 shares of the company's stock after selling 23,334 shares during the period. CIBC Asset Management Inc's holdings in Colgate-Palmolive were worth $19,660,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Main Street Research LLC raised its position in Colgate-Palmolive by 1.5% during the second quarter. Main Street Research LLC now owns 6,939 shares of the company's stock valued at $673,000 after buying an additional 100 shares during the period. Advisor OS LLC lifted its position in shares of Colgate-Palmolive by 4.5% in the second quarter. Advisor OS LLC now owns 2,348 shares of the company's stock worth $228,000 after purchasing an additional 101 shares in the last quarter. BLB&B Advisors LLC boosted its holdings in shares of Colgate-Palmolive by 2.5% during the second quarter. BLB&B Advisors LLC now owns 4,337 shares of the company's stock worth $421,000 after purchasing an additional 104 shares during the period. D Orazio & Associates Inc. increased its stake in Colgate-Palmolive by 3.9% in the 3rd quarter. D Orazio & Associates Inc. now owns 2,862 shares of the company's stock valued at $297,000 after buying an additional 108 shares during the period. Finally, ZWJ Investment Counsel Inc. lifted its position in Colgate-Palmolive by 3.1% in the 2nd quarter. ZWJ Investment Counsel Inc. now owns 3,591 shares of the company's stock worth $349,000 after buying an additional 109 shares in the last quarter. 80.41% of the stock is currently owned by hedge funds and other institutional investors.

Colgate-Palmolive Stock Performance

Colgate-Palmolive stock traded up $2.11 during mid-day trading on Friday, reaching $93.56. The company had a trading volume of 7,328,993 shares, compared to its average volume of 4,387,812. The company has a 50 day moving average of $99.31 and a 200-day moving average of $98.45. Colgate-Palmolive has a 52 week low of $75.17 and a 52 week high of $109.30. 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 firm has a market cap of $76.44 billion, a price-to-earnings ratio of 26.81, a PEG ratio of 3.25 and a beta of 0.42.

Colgate-Palmolive Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, November 15th. Investors of record on Friday, October 18th were given a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a yield of 2.14%. The ex-dividend date was Friday, October 18th. Colgate-Palmolive's dividend payout ratio (DPR) is presently 57.31%.

Analysts Set New Price Targets

Several research firms have recently commented on CL. StockNews.com upgraded shares of Colgate-Palmolive from a "hold" rating to a "buy" rating in a report on Thursday. Morgan Stanley upped their target price on Colgate-Palmolive from $103.00 to $111.00 and gave the stock an "overweight" rating in a research report on Monday, July 29th. Sanford C. Bernstein lifted their price target on Colgate-Palmolive from $100.00 to $103.00 and gave the company a "market perform" rating in a report on Tuesday, July 30th. UBS Group boosted their price target on Colgate-Palmolive from $119.00 to $122.00 and gave the company a "buy" rating in a research note on Wednesday, September 4th. Finally, Barclays lifted their target price on shares of Colgate-Palmolive from $91.00 to $96.00 and gave the company an "equal weight" rating in a research note on Monday, July 29th. One investment 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 data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $105.11.

Insider Activity at Colgate-Palmolive

In other Colgate-Palmolive news, CFO Stanley J. Sutula III sold 45,410 shares of the stock in a transaction on 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 transaction, the chief financial officer now directly owns 36,726 shares in the company, valued at $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 SEC, which can be accessed 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 transaction of $240,228.18. Following the transaction, the director now directly owns 11,755 shares of the company's stock, valued at $1,220,874.30. This represents a 16.44 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 0.34% of the company's stock.

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.