CIBC Bancorp USA Inc. Purchases New Stake in Colgate-Palmolive Company $CL

CIBC Bancorp USA Inc. purchased a new position in Colgate-Palmolive Company (NYSE:CL) during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm purchased 303,218 shares of the company’s stock, valued at approximately $24,239,000.

A number of other hedge funds have also recently modified their holdings of CL. Copia Wealth Management purchased a new stake in shares of Colgate-Palmolive during the third quarter worth about $29,000. Vermillion & White Wealth Management Group LLC increased its holdings in Colgate-Palmolive by 86.1% during the 2nd quarter. Vermillion & White Wealth Management Group LLC now owns 335 shares of the company’s stock valued at $30,000 after purchasing an additional 155 shares during the period. Cloud Capital Management LLC purchased a new position in Colgate-Palmolive during the 3rd quarter valued at about $30,000. Kelleher Financial Advisors bought a new position in Colgate-Palmolive during the 3rd quarter valued at approximately $35,000. Finally, JPL Wealth Management LLC purchased a new stake in Colgate-Palmolive in the 3rd quarter worth approximately $38,000. Hedge funds and other institutional investors own 80.41% of the company’s stock.

Colgate-Palmolive Stock Performance

Shares of CL stock opened at $87.56 on Thursday. The company has a market capitalization of $70.58 billion, a price-to-earnings ratio of 33.42, a price-to-earnings-growth ratio of 4.03 and a beta of 0.28. The company has a debt-to-equity ratio of 18.82, a quick ratio of 0.54 and a current ratio of 0.83. Colgate-Palmolive Company has a one year low of $74.54 and a one year high of $99.33. The company’s 50-day moving average is $90.85 and its 200 day moving average is $83.34.

Colgate-Palmolive (NYSE:CL) last issued its earnings results on Friday, January 30th. The company reported $0.95 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.91 by $0.04. Colgate-Palmolive had a net margin of 10.45% and a return on equity of 353.72%. The firm had revenue of $5.23 billion for the quarter, compared to the consensus estimate of $5.13 billion. During the same quarter in the prior year, the firm posted $0.91 earnings per share. The business’s revenue was up 5.8% on a year-over-year basis. Sell-side analysts expect that Colgate-Palmolive Company 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 Friday, May 15th. Investors of record on Monday, April 20th will be given a $0.53 dividend. This is a boost from Colgate-Palmolive’s previous quarterly dividend of $0.52. The ex-dividend date of this dividend is Monday, April 20th. This represents a $2.12 annualized dividend and a yield of 2.4%. Colgate-Palmolive’s payout ratio is currently 79.39%.

Analyst Ratings Changes

CL has been the topic of a number of recent analyst reports. TD Cowen reiterated a “buy” rating on shares of Colgate-Palmolive in a research report on Monday, February 2nd. UBS Group raised their price target on Colgate-Palmolive from $90.00 to $93.00 and gave the stock a “buy” rating in a research note on Wednesday, January 14th. Weiss Ratings reiterated a “hold (c)” rating on shares of Colgate-Palmolive in a report on Wednesday, January 21st. Evercore boosted their price objective on shares of Colgate-Palmolive from $94.00 to $100.00 and gave the company an “outperform” rating in a research report on Monday, February 2nd. Finally, Deutsche Bank Aktiengesellschaft upped their price objective on shares of Colgate-Palmolive from $83.00 to $90.00 and gave the stock a “hold” rating in a report on Monday, February 2nd. Eleven 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, Colgate-Palmolive currently has an average rating of “Moderate Buy” and a consensus price target of $94.75.

Insiders Place Their Bets

In other Colgate-Palmolive news, insider Sally Massey sold 15,851 shares of Colgate-Palmolive stock in a transaction on Thursday, February 5th. The stock was sold at an average price of $95.03, for a total value of $1,506,320.53. Following the completion of the sale, the insider owned 13,751 shares of the company’s stock, valued at approximately $1,306,757.53. This trade represents a 53.55% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider John Hazlin sold 20,989 shares of the business’s stock in a transaction on Tuesday, February 10th. The stock was sold at an average price of $94.25, for a total value of $1,978,213.25. Following the completion of the transaction, the insider owned 17,645 shares of the company’s stock, valued at $1,663,041.25. This represents a 54.33% decrease in their position. The SEC filing for this sale provides additional information. In the last quarter, insiders have sold 184,683 shares of company stock valued at $17,486,693. 0.34% of the stock is currently owned by company insiders.

About Colgate-Palmolive

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.