TD Waterhouse Canada Inc. Purchases 582,523 Shares of Colgate-Palmolive Company $CL

TD Waterhouse Canada Inc. raised its position in Colgate-Palmolive Company (NYSE:CL) by 144.5% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 985,758 shares of the company’s stock after purchasing an additional 582,523 shares during the quarter. TD Waterhouse Canada Inc.’s holdings in Colgate-Palmolive were worth $84,105,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also modified their holdings of the company. TD Capital Management LLC increased its position in Colgate-Palmolive by 61.4% during the 4th quarter. TD Capital Management LLC now owns 326 shares of the company’s stock worth $26,000 after purchasing an additional 124 shares in the last quarter. Virginia Estate & Retirement Planning Advisors Inc. raised its holdings in Colgate-Palmolive by 1,409.1% in the third quarter. Virginia Estate & Retirement Planning Advisors Inc. now owns 332 shares of the company’s stock valued at $28,000 after buying an additional 310 shares during the period. Parvin Asset Management LLC purchased a new position in Colgate-Palmolive in the second quarter valued at approximately $32,000. Park Place Capital Corp lifted its position in Colgate-Palmolive by 55.5% during the second quarter. Park Place Capital Corp now owns 356 shares of the company’s stock valued at $33,000 after buying an additional 127 shares in the last quarter. Finally, Gould Capital LLC lifted its position in Colgate-Palmolive by 38.7% during the first quarter. Gould Capital LLC now owns 412 shares of the company’s stock valued at $35,000 after buying an additional 115 shares in the last quarter. 80.41% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several equities research analysts have issued reports on CL shares. Deutsche Bank Aktiengesellschaft reiterated a “buy” rating and set a $101.00 price objective (up from $99.00) on shares of Colgate-Palmolive in a research note on Monday, August 3rd. Raymond James Financial raised their target price on shares of Colgate-Palmolive from $100.00 to $102.00 and gave the company an “outperform” rating in a research note on Monday, August 3rd. TD Cowen lifted their target price on shares of Colgate-Palmolive from $85.00 to $90.00 and gave the company a “hold” rating in a report on Monday, August 3rd. Jefferies Financial Group restated a “hold” rating and set a $89.00 target price (up from $88.00) on shares of Colgate-Palmolive in a report on Monday, August 3rd. Finally, UBS Group set a $106.00 price target on Colgate-Palmolive in a report on Thursday. Thirteen research analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the company. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $97.95.

Insider Buying and Selling

In related news, Director John Cahill sold 4,170 shares of the company’s stock in a transaction on Thursday, August 6th. The shares were sold at an average price of $93.37, for a total value of $389,352.90. Following the sale, the director directly owned 28,373 shares of the company’s stock, valued at $2,649,187.01. This represents a 12.81% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Noel Wallace sold 161,021 shares of the stock in a transaction on Tuesday, August 4th. The shares were sold at an average price of $91.92, for a total transaction of $14,801,050.32. Following the transaction, the chief executive officer owned 362,231 shares in the company, valued at $33,296,273.52. This trade represents a 30.77% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Over the last quarter, insiders sold 175,191 shares of company stock worth $16,110,903. Insiders own 0.43% of the company’s stock.

Colgate-Palmolive Stock Up 1.5%

NYSE:CL traded up $1.35 during trading hours on Friday, hitting $94.02. The stock had a trading volume of 5,775,087 shares, compared to its average volume of 5,409,072. The company has a market cap of $74.95 billion, a PE ratio of 37.31, a price-to-earnings-growth ratio of 4.43 and a beta of 0.33. The business has a 50 day simple moving average of $89.05 and a two-hundred day simple moving average of $89.02. Colgate-Palmolive Company has a 1-year low of $74.54 and a 1-year high of $99.33. The company has a current ratio of 1.03, a quick ratio of 0.67 and a debt-to-equity ratio of 13.82.

Colgate-Palmolive (NYSE:CL) last announced its earnings results on Friday, July 31st. The company reported $0.99 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.95 by $0.04. Colgate-Palmolive had a return on equity of 464.63% and a net margin of 9.68%. The business had revenue of $5.36 billion for the quarter, compared to analyst estimates of $5.36 billion. During the same period in the previous year, the company earned $0.92 earnings per share. The company’s revenue for the quarter was up 4.9% compared to the same quarter last year. Analysts predict that Colgate-Palmolive Company will post 3.87 EPS for the current year.

Colgate-Palmolive Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, November 13th. Stockholders of record on Tuesday, October 20th will be given a dividend of $0.53 per share. The ex-dividend date of this dividend is Tuesday, October 20th. This represents a $2.12 dividend on an annualized basis and a dividend yield of 2.3%. Colgate-Palmolive’s dividend payout ratio (DPR) is presently 84.13%.

About Colgate-Palmolive

Colgate-Palmolive Company (NYSE: CL) is a global consumer products company focused on oral care, personal care, home care and pet nutrition. Its portfolio includes toothpaste, toothbrushes, mouthwashes, body washes, deodorants, soaps, household cleaning products and pet food and treats.

The company markets many of its products under well-known brands, including Colgate, Palmolive, elmex, meridol, Protex, Softsoap, Ajax, Irish Spring, Speed Stick, Tom’s of Maine and Hill’s Science Diet.