Colgate-Palmolive Company $CL Shares Sold by Cibc World Market Inc.

Cibc World Market Inc. lessened its holdings in shares of Colgate-Palmolive Company (NYSE:CL) by 16.4% during the fourth quarter, HoldingsChannel reports. The fund owned 286,447 shares of the company’s stock after selling 55,990 shares during the period. Cibc World Market Inc.’s holdings in Colgate-Palmolive were worth $22,635,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the business. Intellectus Partners LLC grew its holdings in Colgate-Palmolive by 79.7% during the fourth quarter. Intellectus Partners LLC now owns 13,886 shares of the company’s stock worth $1,097,000 after acquiring an additional 6,158 shares during the period. REAP Financial Group LLC acquired a new position in Colgate-Palmolive during the fourth quarter worth $40,000. Avestar Capital LLC grew its holdings in Colgate-Palmolive by 137.5% during the fourth quarter. Avestar Capital LLC now owns 8,589 shares of the company’s stock worth $679,000 after acquiring an additional 4,973 shares during the period. CIBC Asset Management Inc grew its holdings in Colgate-Palmolive by 24.3% during the fourth quarter. CIBC Asset Management Inc now owns 380,450 shares of the company’s stock worth $30,048,000 after acquiring an additional 74,366 shares during the period. Finally, Marble Wealth LLC purchased a new position in Colgate-Palmolive in the 4th quarter valued at approximately $744,000. Institutional investors and hedge funds own 80.41% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts recently weighed in on CL shares. Wells Fargo & Company dropped their price objective on Colgate-Palmolive from $100.00 to $92.00 and set an “equal weight” rating for the company in a research note on Wednesday, April 8th. Weiss Ratings upgraded Colgate-Palmolive from a “hold (c)” rating to a “hold (c+)” rating in a research report on Monday, May 4th. Barclays raised their price target on Colgate-Palmolive from $79.00 to $80.00 and gave the company an “equal weight” rating in a research report on Tuesday, May 5th. JPMorgan Chase & Co. raised their price target on Colgate-Palmolive from $95.00 to $96.00 and gave the company an “overweight” rating in a research report on Monday, May 4th. Finally, TD Cowen restated a “hold” rating and issued a $85.00 price target on shares of Colgate-Palmolive in a research report on Tuesday, March 31st. Twelve research analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $95.88.

Colgate-Palmolive Stock Up 4.1%

Shares of NYSE:CL opened at $88.61 on Friday. The stock’s 50-day moving average price is $86.49 and its two-hundred day moving average price is $85.93. The company has a current ratio of 1.02, a quick ratio of 0.67 and a debt-to-equity ratio of 16.33. Colgate-Palmolive Company has a 12-month low of $74.54 and a 12-month high of $99.33. The firm has a market cap of $70.91 billion, a price-to-earnings ratio of 34.48, a PEG ratio of 4.42 and a beta of 0.33.

Colgate-Palmolive (NYSE:CL) last released its quarterly earnings data on Friday, May 1st. The company reported $0.97 earnings per share for the quarter, beating the consensus estimate of $0.94 by $0.03. The business had revenue of $5.32 billion for the quarter, compared to analyst estimates of $5.22 billion. Colgate-Palmolive had a return on equity of 386.76% and a net margin of 10.04%.The company’s revenue was up 8.4% compared to the same quarter last year. During the same period in the previous year, the company posted $0.91 EPS. On average, research analysts forecast that Colgate-Palmolive Company will post 3.82 EPS for the current year.

Colgate-Palmolive Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, May 15th. Stockholders of record on Monday, April 20th were paid a $0.53 dividend. The ex-dividend date of this dividend was Monday, April 20th. This represents a $2.12 annualized dividend and a dividend yield of 2.4%. This is an increase from Colgate-Palmolive’s previous quarterly dividend of $0.52. Colgate-Palmolive’s dividend payout ratio is presently 82.49%.

Colgate-Palmolive Profile

Colgate-Palmolive Company is a global consumer products company with a long history in household and personal care categories. The business traces its roots to the early 19th century and has evolved into a multinational manufacturer and marketer of everyday consumer goods focused on health, hygiene and home care.

The company’s core activities center on oral care, personal care, home care and pet nutrition. Its product portfolio includes toothpaste, toothbrushes and mouthwash in oral care; soaps, body washes and deodorants in personal care; dishwashing liquids, surface cleaners and other household products in home care; and scientifically formulated pet foods under its pet nutrition business.