Cibc World Market Inc. Reduces Position in Colgate-Palmolive Company $CL

Cibc World Market Inc. lessened its stake in shares of Colgate-Palmolive Company (NYSE:CL) by 16.4% during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 286,447 shares of the company’s stock after selling 55,990 shares during the period. Cibc World Market Inc.’s holdings in Colgate-Palmolive were worth $22,635,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors have also modified their holdings of the company. CBIZ Investment Advisory Services LLC raised its holdings in shares of Colgate-Palmolive by 86.7% during the 4th quarter. CBIZ Investment Advisory Services LLC now owns 323 shares of the company’s stock worth $26,000 after acquiring an additional 150 shares during the period. Maseco LLP purchased a new stake in Colgate-Palmolive in the 4th quarter valued at about $27,000. Global Wealth Strategies & Associates raised its holdings in Colgate-Palmolive by 300.0% in the 4th quarter. Global Wealth Strategies & Associates now owns 400 shares of the company’s stock valued at $32,000 after buying an additional 300 shares during the period. Grove Bank & Trust raised its holdings in Colgate-Palmolive by 182.6% in the 4th quarter. Grove Bank & Trust now owns 407 shares of the company’s stock valued at $32,000 after buying an additional 263 shares during the period. Finally, Camelot Portfolios LLC purchased a new stake in Colgate-Palmolive in the 4th quarter valued at about $32,000. Hedge funds and other institutional investors own 80.41% of the company’s stock.

Colgate-Palmolive Price Performance

Colgate-Palmolive stock opened at $88.61 on Friday. Colgate-Palmolive Company has a 12 month low of $74.54 and a 12 month high of $99.33. The company has a debt-to-equity ratio of 16.33, a current ratio of 1.02 and a quick ratio of 0.67. The business has a 50 day simple moving average of $86.49 and a 200-day simple moving average of $85.93. The stock has a market capitalization of $70.91 billion, a PE ratio of 34.48, a price-to-earnings-growth ratio of 4.42 and a beta of 0.33.

Colgate-Palmolive (NYSE:CL) last released its quarterly earnings results on Friday, May 1st. The company reported $0.97 EPS for the quarter, topping the consensus estimate of $0.94 by $0.03. Colgate-Palmolive had a return on equity of 386.76% and a net margin of 10.04%.The business had revenue of $5.32 billion during the quarter, compared to analysts’ expectations of $5.22 billion. During the same quarter in the prior year, the business earned $0.91 earnings per share. The company’s quarterly revenue was up 8.4% compared to the same quarter last year. Equities analysts predict that Colgate-Palmolive Company will post 3.82 earnings per share for the current year.

Colgate-Palmolive Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, May 15th. Stockholders of record on Monday, April 20th were paid a dividend of $0.53 per share. This represents a $2.12 annualized dividend and a dividend yield of 2.4%. This is a boost from Colgate-Palmolive’s previous quarterly dividend of $0.52. The ex-dividend date was Monday, April 20th. Colgate-Palmolive’s dividend payout ratio (DPR) is currently 82.49%.

Analysts Set New Price Targets

CL has been the subject of several research reports. JPMorgan Chase & Co. lifted their target price on Colgate-Palmolive from $95.00 to $96.00 and gave the company an “overweight” rating in a research report on Monday, May 4th. Royal Bank Of Canada reissued an “outperform” rating and set a $102.00 price objective on shares of Colgate-Palmolive in a research report on Monday, May 4th. Wells Fargo & Company lowered their price objective on Colgate-Palmolive from $100.00 to $92.00 and set an “equal weight” rating for the company in a research report on Wednesday, April 8th. Barclays boosted their price objective on Colgate-Palmolive from $79.00 to $80.00 and gave the stock an “equal weight” rating in a research report on Tuesday, May 5th. Finally, Rothschild & Co Redburn set a $100.00 price objective on Colgate-Palmolive and gave the stock a “buy” rating in a research report on Tuesday, April 21st. Twelve analysts have rated the stock with a Buy rating and six have given a Hold rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $95.88.

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.