Cidel Asset Management Inc. Raises Position in Colgate-Palmolive Company $CL

Cidel Asset Management Inc. lifted its position in shares of Colgate-Palmolive Company (NYSE:CL) by 6.5% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 320,907 shares of the company’s stock after acquiring an additional 19,720 shares during the quarter. Colgate-Palmolive accounts for approximately 1.5% of Cidel Asset Management Inc.’s portfolio, making the stock its 22nd largest holding. Cidel Asset Management Inc.’s holdings in Colgate-Palmolive were worth $27,351,000 at the end of the most recent quarter.

A number of other institutional investors also recently added to or reduced their stakes in the business. Brighton Jones LLC grew its holdings in Colgate-Palmolive by 4.4% during the fourth quarter. Brighton Jones LLC now owns 10,578 shares of the company’s stock worth $962,000 after acquiring an additional 450 shares during the period. Woodline Partners LP lifted its holdings in Colgate-Palmolive by 76.3% in the first quarter. Woodline Partners LP now owns 46,361 shares of the company’s stock valued at $4,344,000 after acquiring an additional 20,062 shares during the period. Schnieders Capital Management LLC. boosted its position in shares of Colgate-Palmolive by 2.0% during the 2nd quarter. Schnieders Capital Management LLC. now owns 12,494 shares of the company’s stock worth $1,136,000 after purchasing an additional 245 shares in the last quarter. Nebula Research & Development LLC grew its stake in shares of Colgate-Palmolive by 165.5% during the 2nd quarter. Nebula Research & Development LLC now owns 10,326 shares of the company’s stock worth $939,000 after purchasing an additional 6,437 shares during the period. Finally, Sei Investments Co. grew its stake in shares of Colgate-Palmolive by 21.7% during the 2nd quarter. Sei Investments Co. now owns 657,093 shares of the company’s stock worth $59,732,000 after purchasing an additional 116,968 shares during the period. Hedge funds and other institutional investors own 80.41% of the company’s stock.

Colgate-Palmolive Price Performance

Colgate-Palmolive stock opened at $91.65 on Wednesday. Colgate-Palmolive Company has a 52 week low of $74.54 and a 52 week high of $99.33. The company has a quick ratio of 0.67, a current ratio of 1.02 and a debt-to-equity ratio of 16.33. The firm’s 50-day simple moving average is $87.60 and its 200 day simple moving average is $86.82. The firm has a market capitalization of $73.34 billion, a PE ratio of 35.66, a P/E/G ratio of 4.67 and a beta of 0.33.

Colgate-Palmolive (NYSE:CL) last posted its earnings results on Friday, May 1st. The company reported $0.97 earnings per share for the quarter, beating the consensus estimate of $0.94 by $0.03. The firm had revenue of $5.32 billion during the quarter, compared to the consensus estimate of $5.22 billion. Colgate-Palmolive had a net margin of 10.04% and a return on equity of 386.76%. The firm’s revenue for the quarter was up 8.4% on a year-over-year basis. During the same period last year, the firm posted $0.91 EPS. On average, equities research analysts predict that Colgate-Palmolive Company will post 3.81 EPS for the current fiscal year.

Colgate-Palmolive Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, August 14th. Stockholders of record on Monday, July 20th will be paid a dividend of $0.53 per share. This represents a $2.12 dividend on an annualized basis and a dividend yield of 2.3%. The ex-dividend date of this dividend is Monday, July 20th. Colgate-Palmolive’s dividend payout ratio (DPR) is 82.49%.

Wall Street Analyst Weigh In

CL has been the subject of several recent analyst reports. Weiss Ratings upgraded shares of Colgate-Palmolive from a “hold (c)” rating to a “hold (c+)” rating in a research note on Monday, May 4th. The Goldman Sachs Group restated a “buy” rating on shares of Colgate-Palmolive in a research report on Friday, May 1st. Morgan Stanley reaffirmed an “overweight” rating on shares of Colgate-Palmolive in a report on Monday, May 4th. JPMorgan Chase & Co. boosted their price target on Colgate-Palmolive from $95.00 to $96.00 and gave the stock an “overweight” rating in a research note on Monday, May 4th. Finally, Bank of America lowered their price target on Colgate-Palmolive from $105.00 to $102.00 and set a “buy” rating on the stock in a report on Friday, April 10th. Twelve analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $95.88.

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.