Connor Clark & Lunn Investment Management Ltd. Sells 4,919 Shares of Colgate-Palmolive (NYSE:CL)

Connor Clark & Lunn Investment Management Ltd. trimmed its holdings in Colgate-Palmolive (NYSE:CL - Free Report) by 33.5% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 9,770 shares of the company's stock after selling 4,919 shares during the period. Connor Clark & Lunn Investment Management Ltd.'s holdings in Colgate-Palmolive were worth $888,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently made changes to their positions in CL. Kohmann Bosshard Financial Services LLC bought a new stake in shares of Colgate-Palmolive during the fourth quarter worth approximately $26,000. Centricity Wealth Management LLC bought a new stake in Colgate-Palmolive in the 4th quarter valued at $27,000. Union Bancaire Privee UBP SA acquired a new position in Colgate-Palmolive in the 4th quarter valued at $32,000. Briaud Financial Planning Inc bought a new position in Colgate-Palmolive during the 4th quarter worth $32,000. Finally, OFI Invest Asset Management acquired a new stake in shares of Colgate-Palmolive during the fourth quarter worth $36,000. 80.41% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several research firms recently commented on CL. JPMorgan Chase & Co. upped their price target on shares of Colgate-Palmolive from $97.00 to $99.00 and gave the company an "overweight" rating in a research note on Friday, March 14th. Barclays lowered their target price on shares of Colgate-Palmolive from $96.00 to $83.00 and set an "equal weight" rating on the stock in a report on Friday, January 17th. Piper Sandler cut their price target on Colgate-Palmolive from $121.00 to $112.00 and set an "overweight" rating for the company in a research note on Monday, January 6th. StockNews.com lowered Colgate-Palmolive from a "buy" rating to a "hold" rating in a research note on Tuesday. Finally, Raymond James reiterated an "outperform" rating and set a $105.00 target price (down from $110.00) on shares of Colgate-Palmolive in a research report on Monday, February 3rd. One research analyst has rated the stock with a sell rating, ten have assigned a hold rating and eleven have assigned a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of "Hold" and a consensus price target of $101.72.

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Colgate-Palmolive Price Performance

CL stock traded down $1.38 during midday trading on Tuesday, reaching $89.52. 5,172,881 shares of the stock were exchanged, compared to its average volume of 4,226,853. The company has a debt-to-equity ratio of 13.40, a current ratio of 0.92 and a quick ratio of 0.58. The stock has a market capitalization of $72.65 billion, a PE ratio of 25.43, a P/E/G ratio of 4.20 and a beta of 0.40. Colgate-Palmolive has a 52 week low of $85.32 and a 52 week high of $109.30. The company has a fifty day moving average price of $89.40 and a 200 day moving average price of $93.95.

Colgate-Palmolive (NYSE:CL - Get Free Report) last released its quarterly earnings data on Friday, January 31st. The company reported $0.91 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.90 by $0.01. Colgate-Palmolive had a return on equity of 477.77% and a net margin of 14.38%. During the same period in the prior year, the company earned $0.87 earnings per share. As a group, analysts expect that Colgate-Palmolive will post 3.75 EPS for the current fiscal year.

Colgate-Palmolive Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, May 15th. Investors of record on Thursday, April 17th will be paid a $0.52 dividend. This is a boost from Colgate-Palmolive's previous quarterly dividend of $0.50. The ex-dividend date is Thursday, April 17th. This represents a $2.08 annualized dividend and a dividend yield of 2.32%. Colgate-Palmolive's payout ratio is currently 56.82%.

Colgate-Palmolive declared that its Board of Directors has initiated a stock buyback program on Thursday, March 20th that authorizes the company to buyback $5.00 billion in shares. This buyback authorization authorizes the company to repurchase up to 6.8% of its shares through open market purchases. Shares buyback programs are often an indication that the company's leadership believes its shares are undervalued.

Colgate-Palmolive 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.