CIBC Asset Management Inc Purchases 74,366 Shares of Colgate-Palmolive Company $CL

CIBC Asset Management Inc grew its position in shares of Colgate-Palmolive Company (NYSE:CL) by 24.3% during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 380,450 shares of the company’s stock after buying an additional 74,366 shares during the quarter. CIBC Asset Management Inc’s holdings in Colgate-Palmolive were worth $30,048,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also recently modified their holdings of CL. Providence Capital Advisors LLC bought a new stake in shares of Colgate-Palmolive in the 3rd quarter worth approximately $5,373,000. ProShare Advisors LLC raised its holdings in shares of Colgate-Palmolive by 11.0% in the 3rd quarter. ProShare Advisors LLC now owns 2,047,542 shares of the company’s stock worth $163,681,000 after purchasing an additional 202,379 shares during the period. Envestnet Asset Management Inc. raised its holdings in shares of Colgate-Palmolive by 18.0% in the 3rd quarter. Envestnet Asset Management Inc. now owns 800,554 shares of the company’s stock worth $63,996,000 after purchasing an additional 122,202 shares during the period. Citigroup Inc. raised its holdings in shares of Colgate-Palmolive by 43.7% in the 3rd quarter. Citigroup Inc. now owns 1,346,590 shares of the company’s stock worth $107,646,000 after purchasing an additional 409,710 shares during the period. Finally, GAMMA Investing LLC raised its holdings in shares of Colgate-Palmolive by 114.2% in the 4th quarter. GAMMA Investing LLC now owns 23,329 shares of the company’s stock worth $1,843,000 after purchasing an additional 12,437 shares during the period. Institutional investors own 80.41% of the company’s stock.

Colgate-Palmolive Trading Down 3.8%

Shares of CL stock opened at $84.95 on Thursday. The company’s fifty day simple moving average is $86.41 and its two-hundred day simple moving average is $85.86. The company has a debt-to-equity ratio of 16.33, a current ratio of 1.02 and a quick ratio of 0.67. Colgate-Palmolive Company has a 1 year low of $74.54 and a 1 year high of $99.33. The stock has a market capitalization of $67.98 billion, a price-to-earnings ratio of 33.05, a PEG ratio of 4.58 and a beta of 0.33.

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

Colgate-Palmolive Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, May 15th. Shareholders of record on Monday, April 20th were issued a dividend of $0.53 per share. This represents a $2.12 dividend on an annualized basis and a yield of 2.5%. The ex-dividend date of this dividend was Monday, April 20th. This is a positive change from Colgate-Palmolive’s previous quarterly dividend of $0.52. Colgate-Palmolive’s payout ratio is presently 82.49%.

Wall Street Analyst Weigh In

CL has been the topic of a number of research reports. Weiss Ratings raised shares of Colgate-Palmolive from a “hold (c)” rating to a “hold (c+)” rating in a report on Monday, May 4th. Wall Street Zen cut shares of Colgate-Palmolive from a “buy” rating to a “hold” rating in a report on Sunday, March 29th. UBS Group lifted their price target on shares of Colgate-Palmolive from $98.00 to $100.00 and gave the stock a “buy” rating in a report on Monday, May 4th. Deutsche Bank Aktiengesellschaft reaffirmed a “buy” rating and issued a $99.00 price target on shares of Colgate-Palmolive in a report on Monday, May 4th. Finally, Rothschild & Co Redburn set a $100.00 price target on shares of Colgate-Palmolive and gave the stock a “buy” rating in a report on Tuesday, April 21st. Twelve equities research analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company’s stock. According to MarketBeat.com, Colgate-Palmolive presently has an average rating of “Moderate Buy” and a consensus target price of $95.88.

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.