Cidel Asset Management Inc. Has $20.82 Million Stake in Colgate-Palmolive Company $CL

Cidel Asset Management Inc. reduced its stake in shares of Colgate-Palmolive Company (NYSE:CL) by 29.2% in the 2nd quarter, Holdings Channel reports. The firm owned 227,054 shares of the company’s stock after selling 93,853 shares during the quarter. Cidel Asset Management Inc.’s holdings in Colgate-Palmolive were worth $20,816,000 at the end of the most recent quarter.

Other institutional investors have also recently made changes to their positions in the company. Kemnay Advisory Services Inc. bought a new position in shares of Colgate-Palmolive during the fourth quarter worth about $25,000. CBIZ Investment Advisory Services LLC boosted its holdings in Colgate-Palmolive by 86.7% in the fourth quarter. CBIZ Investment Advisory Services LLC now owns 323 shares of the company’s stock valued at $26,000 after acquiring an additional 150 shares during the last quarter. 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 valued at $26,000 after purchasing an additional 124 shares during the period. Triumph Capital Management raised its holdings in Colgate-Palmolive by 62.9% during the 4th quarter. Triumph Capital Management now owns 329 shares of the company’s stock worth $26,000 after purchasing an additional 127 shares during the last quarter. Finally, Jessup Wealth Management Inc acquired a new stake in shares of Colgate-Palmolive during the fourth quarter worth $26,000. Institutional investors own 80.41% of the company’s stock.

Colgate-Palmolive Price Performance

CL stock opened at $88.37 on Wednesday. The company has a debt-to-equity ratio of 13.82, a quick ratio of 0.67 and a current ratio of 1.03. The business has a 50-day simple moving average of $91.75 and a two-hundred day simple moving average of $89.72. The company has a market capitalization of $70.45 billion, a P/E ratio of 35.07, a price-to-earnings-growth ratio of 4.14 and a beta of 0.33. Colgate-Palmolive Company has a 52-week low of $74.54 and a 52-week high of $99.33.

Colgate-Palmolive (NYSE:CL) last issued its quarterly earnings data on Friday, July 31st. The company reported $0.99 EPS for the quarter, topping the consensus estimate of $0.95 by $0.04. Colgate-Palmolive had a return on equity of 464.63% and a net margin of 9.68%.The firm had revenue of $5.36 billion during the quarter, compared to the consensus estimate of $5.36 billion. During the same period in the prior year, the business posted $0.92 earnings per share. The company’s quarterly revenue was up 4.9% compared to the same quarter last year. Research analysts expect that Colgate-Palmolive Company will post 3.87 EPS for the current fiscal year.

Colgate-Palmolive Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, August 14th. Investors of record on Monday, July 20th were given a $0.53 dividend. This represents a $2.12 dividend on an annualized basis and a yield of 2.4%. The ex-dividend date of this dividend was Monday, July 20th. Colgate-Palmolive’s dividend payout ratio is presently 84.13%.

Analyst Ratings Changes

A number of analysts have commented on CL shares. UBS Group upped their price target on shares of Colgate-Palmolive from $106.00 to $109.00 and gave the company a “buy” rating in a research report on Monday, August 3rd. Citigroup lifted their target price on Colgate-Palmolive from $105.00 to $110.00 and gave the stock a “buy” rating in a report on Tuesday, July 14th. Wells Fargo & Company increased their price target on Colgate-Palmolive from $92.00 to $95.00 and gave the stock an “equal weight” rating in a report on Wednesday, July 8th. JPMorgan Chase & Co. reduced their price objective on shares of Colgate-Palmolive from $104.00 to $103.00 and set an “overweight” rating for the company in a research report on Monday, August 3rd. Finally, Jefferies Financial Group reiterated a “hold” rating on shares of Colgate-Palmolive in a research report on Monday, August 3rd. Twelve analysts have rated the stock with a Buy rating and seven have given a Hold rating to the company. Based on data from MarketBeat.com, Colgate-Palmolive has an average rating of “Moderate Buy” and a consensus price target of $99.00.

Insider Activity at Colgate-Palmolive

In other Colgate-Palmolive news, CEO Noel Wallace sold 161,021 shares of the firm’s stock in a transaction on Tuesday, August 4th. The stock was sold at an average price of $91.92, for a total transaction of $14,801,050.32. Following the transaction, the chief executive officer directly owned 362,231 shares in the company, valued at approximately $33,296,273.52. This trade represents a 30.77% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, COO Panagiotis Tsourapas sold 10,000 shares of Colgate-Palmolive stock in a transaction on Monday, August 24th. The stock was sold at an average price of $92.05, for a total transaction of $920,500.00. Following the transaction, the chief operating officer directly owned 64,901 shares in the company, valued at $5,974,137.05. This represents a 13.35% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last three months, insiders sold 175,191 shares of company stock valued at $16,110,903. 0.43% of the stock is owned by insiders.

Colgate-Palmolive Profile

Colgate-Palmolive Company (NYSE:CL) is a global consumer products company focused on oral care, personal care, home care and pet nutrition. Its products are sold in more than 200 countries and territories through retail stores, e-commerce channels and professional networks.

The company’s portfolio includes Colgate toothpaste, toothbrushes and mouthwashes; Palmolive and Softsoap personal care products; Ajax and other household cleaning products; and Hill’s Science Diet and Prescription Diet pet foods.