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

Canoe Financial LP lessened its stake in shares of Colgate-Palmolive Company (NYSE:CL) by 17.5% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 79,246 shares of the company’s stock after selling 16,800 shares during the quarter. Canoe Financial LP’s holdings in Colgate-Palmolive were worth $6,754,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also recently added to or reduced their stakes in the company. Vanguard Group Inc. grew its stake in Colgate-Palmolive by 1.2% in the 4th quarter. Vanguard Group Inc. now owns 83,947,987 shares of the company’s stock worth $6,633,570,000 after acquiring an additional 1,026,985 shares during the period. Geode Capital Management LLC boosted its holdings in shares of Colgate-Palmolive by 1.4% during the fourth quarter. Geode Capital Management LLC now owns 22,103,901 shares of the company’s stock worth $1,754,657,000 after purchasing an additional 304,426 shares during the last quarter. Morgan Stanley grew its position in shares of Colgate-Palmolive by 1.7% in the fourth quarter. Morgan Stanley now owns 19,246,217 shares of the company’s stock valued at $1,520,836,000 after purchasing an additional 323,367 shares during the period. Norges Bank purchased a new position in Colgate-Palmolive during the fourth quarter worth about $861,670,000. Finally, Deutsche Bank AG lifted its position in Colgate-Palmolive by 33.9% during the fourth quarter. Deutsche Bank AG now owns 10,845,857 shares of the company’s stock worth $857,040,000 after buying an additional 2,746,920 shares during the period. Institutional investors and hedge funds own 80.41% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts have commented on CL shares. Piper Sandler lowered their price target on Colgate-Palmolive from $96.00 to $92.00 and set an “overweight” rating for the company in a report on Wednesday, April 8th. Weiss Ratings raised shares of Colgate-Palmolive from a “hold (c)” rating to a “hold (c+)” rating in a research report on Monday, May 4th. TD Cowen restated a “hold” rating and issued a $85.00 target price on shares of Colgate-Palmolive in a report on Tuesday, March 31st. Morgan Stanley reaffirmed an “overweight” rating on shares of Colgate-Palmolive in a research report on Monday, May 4th. Finally, Barclays lifted their price target on shares of Colgate-Palmolive from $79.00 to $80.00 and gave the company an “equal weight” rating in a report on Tuesday, May 5th. Twelve research analysts have rated the stock with a Buy rating and seven have given a Hold rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $95.88.

Colgate-Palmolive Stock Down 0.0%

NYSE CL opened at $92.06 on Monday. The business has a 50 day moving average price of $88.07 and a two-hundred day moving average price of $87.12. Colgate-Palmolive Company has a fifty-two week low of $74.54 and a fifty-two 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 stock has a market cap of $73.66 billion, a PE ratio of 35.82, a P/E/G ratio of 4.85 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. The business had revenue of $5.32 billion for the quarter, compared to analysts’ expectations of $5.22 billion. Colgate-Palmolive had a return on equity of 386.76% and a net margin of 10.04%.The company’s revenue was up 8.4% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.91 earnings per share. As a group, sell-side analysts predict that Colgate-Palmolive Company will post 3.81 EPS for the current fiscal year.

Colgate-Palmolive Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, August 14th. Investors of record on Monday, July 20th will be issued a $0.53 dividend. The ex-dividend date of this dividend is Monday, July 20th. This represents a $2.12 annualized dividend and a yield of 2.3%. Colgate-Palmolive’s dividend payout ratio is currently 82.49%.

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.