Colgate-Palmolive (NYSE:CL) Shares Purchased by CIBC Asset Management Inc

CIBC Asset Management Inc raised its holdings in Colgate-Palmolive (NYSE:CL) by 2.0% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 193,309 shares of the company’s stock after purchasing an additional 3,784 shares during the quarter. CIBC Asset Management Inc’s holdings in Colgate-Palmolive were worth $17,559,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also made changes to their positions in CL. Chicago Partners Investment Group LLC raised its stake in Colgate-Palmolive by 16.2% during the 4th quarter. Chicago Partners Investment Group LLC now owns 6,752 shares of the company’s stock valued at $591,000 after acquiring an additional 943 shares during the last quarter. Peak Financial Advisors LLC acquired a new position in shares of Colgate-Palmolive in the fourth quarter valued at approximately $1,315,000. Gordian Advisors LLC purchased a new stake in shares of Colgate-Palmolive during the third quarter worth approximately $602,000. Carrera Capital Advisors lifted its holdings in shares of Colgate-Palmolive by 23.1% during the third quarter. Carrera Capital Advisors now owns 39,170 shares of the company’s stock worth $4,066,000 after purchasing an additional 7,353 shares during the period. Finally, Fiduciary Alliance LLC purchased a new position in Colgate-Palmolive in the 4th quarter valued at $4,066,000. 80.41% of the stock is owned by hedge funds and other institutional investors.

Colgate-Palmolive Stock Performance

Shares of NYSE CL opened at $86.10 on Tuesday. Colgate-Palmolive has a 12 month low of $83.20 and a 12 month high of $109.30. The company has a 50-day simple moving average of $89.53 and a 200-day simple moving average of $96.33. The company has a market cap of $70.34 billion, a PE ratio of 24.46, a price-to-earnings-growth ratio of 4.12 and a beta of 0.44. The company has a debt-to-equity ratio of 9.46, a current ratio of 0.41 and a quick ratio of 0.26.

Colgate-Palmolive (NYSE:CL) last issued its quarterly earnings results on Friday, January 31st. The company reported $0.91 earnings per share for the quarter, topping analysts’ consensus estimates of $0.90 by $0.01. Colgate-Palmolive had a return on equity of 477.77% and a net margin of 14.38%. During the same quarter last year, the firm posted $0.87 EPS. On average, equities analysts anticipate that Colgate-Palmolive will post 3.73 earnings per share for the current year.

Colgate-Palmolive Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, February 14th. Stockholders of record on Tuesday, January 21st were paid a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a dividend yield of 2.32%. The ex-dividend date of this dividend was Tuesday, January 21st. Colgate-Palmolive’s dividend payout ratio is currently 56.82%.

Analysts Set New Price Targets

Several analysts have recently commented on the stock. Barclays reduced their target price on shares of Colgate-Palmolive from $96.00 to $83.00 and set an “equal weight” rating for the company in a research note on Friday, January 17th. Wells Fargo & Company reduced their price objective on shares of Colgate-Palmolive from $92.00 to $83.00 and set an “underweight” rating for the company in a research report on Tuesday, January 7th. Morgan Stanley cut their target price on Colgate-Palmolive from $111.00 to $104.00 and set an “overweight” rating for the company in a research note on Monday, February 3rd. JPMorgan Chase & Co. reduced their price target on Colgate-Palmolive from $103.00 to $97.00 and set an “overweight” rating for the company in a report on Monday, February 3rd. Finally, Piper Sandler cut their price objective on Colgate-Palmolive from $121.00 to $112.00 and set an “overweight” rating for the company in a research report on Monday, January 6th. One research analyst has rated the stock with a sell rating, ten have given a hold rating and twelve have given a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $101.16.

Colgate-Palmolive Company Profile

Colgate-Palmolive Company, together with its subsidiaries, manufactures and sells consumer products in the United States and internationally. It operates through two segments: Oral, Personal and Home Care; and Pet Nutrition. The Oral, Personal and Home Care segment offers toothpaste, toothbrushes, mouthwash, bar and liquid hand soaps, shower gels, shampoos, conditioners, deodorants and antiperspirants, skin health products, dishwashing detergents, fabric conditioners, household cleaners, and other related items.