Colgate-Palmolive Company $CL Shares Bought by Canoe Financial LP

Canoe Financial LP lifted its position in shares of Colgate-Palmolive Company (NYSE:CL) by 23.3% in the 3rd quarter, Holdings Channel reports. The fund owned 99,646 shares of the company’s stock after buying an additional 18,800 shares during the period. Canoe Financial LP’s holdings in Colgate-Palmolive were worth $7,966,000 as of its most recent filing with the SEC.

Several other hedge funds have also recently bought and sold shares of CL. Westside Investment Management Inc. increased its stake in shares of Colgate-Palmolive by 85.5% in the second quarter. Westside Investment Management Inc. now owns 282 shares of the company’s stock valued at $26,000 after purchasing an additional 130 shares during the period. Saudi Central Bank bought a new position in Colgate-Palmolive in the 1st quarter worth approximately $29,000. Vermillion & White Wealth Management Group LLC increased its position in Colgate-Palmolive by 86.1% in the 2nd quarter. Vermillion & White Wealth Management Group LLC now owns 335 shares of the company’s stock valued at $30,000 after acquiring an additional 155 shares during the period. Ransom Advisory Ltd acquired a new stake in Colgate-Palmolive in the 1st quarter valued at approximately $33,000. Finally, MTM Investment Management LLC acquired a new stake in Colgate-Palmolive in the 2nd quarter valued at approximately $39,000. 80.41% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several research analysts have recently issued reports on the company. Weiss Ratings reissued a “hold (c)” rating on shares of Colgate-Palmolive in a research note on Wednesday, October 8th. The Goldman Sachs Group decreased their target price on shares of Colgate-Palmolive from $106.00 to $91.00 and set a “buy” rating for the company in a research report on Thursday, October 2nd. Raymond James Financial lowered their target price on shares of Colgate-Palmolive from $105.00 to $95.00 and set an “outperform” rating on the stock in a research note on Monday, October 20th. Evercore ISI reduced their price target on shares of Colgate-Palmolive from $100.00 to $94.00 and set an “outperform” rating for the company in a research note on Monday, November 3rd. Finally, JPMorgan Chase & Co. raised their price objective on shares of Colgate-Palmolive from $87.00 to $88.00 and gave the company an “overweight” rating in a research note on Thursday, December 18th. Ten equities research analysts have rated the stock with a Buy rating, five have given a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, Colgate-Palmolive currently has an average rating of “Moderate Buy” and a consensus price target of $88.81.

Colgate-Palmolive Price Performance

Shares of NYSE CL opened at $80.50 on Friday. Colgate-Palmolive Company has a twelve month low of $74.54 and a twelve month high of $100.18. The company has a current ratio of 0.93, a quick ratio of 0.60 and a debt-to-equity ratio of 5.90. The firm has a 50-day moving average of $78.49 and a two-hundred day moving average of $82.84. The company has a market capitalization of $64.89 billion, a price-to-earnings ratio of 22.55, a PEG ratio of 5.72 and a beta of 0.30.

Colgate-Palmolive (NYSE:CL) last released its earnings results on Friday, October 31st. The company reported $0.91 EPS for the quarter, topping analysts’ consensus estimates of $0.89 by $0.02. The business had revenue of $5.13 billion for the quarter, compared to the consensus estimate of $5.17 billion. Colgate-Palmolive had a net margin of 14.47% and a return on equity of 333.39%. The business’s revenue for the quarter was up 1.9% on a year-over-year basis. During the same period in the previous year, the firm earned $0.91 EPS. As a group, analysts expect that Colgate-Palmolive Company will post 3.75 earnings per share for the current fiscal year.

Colgate-Palmolive Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, February 13th. Stockholders of record on Wednesday, January 21st will be given a dividend of $0.52 per share. This represents a $2.08 dividend on an annualized basis and a dividend yield of 2.6%. The ex-dividend date is Wednesday, January 21st. Colgate-Palmolive’s dividend payout ratio is 58.26%.

Colgate-Palmolive Company 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.