Cibc World Market Inc. Trims Stock Position in Colgate-Palmolive (NYSE:CL)

Cibc World Market Inc. trimmed its holdings in Colgate-Palmolive (NYSE:CL) by 3.6% in the 4th quarter, according to its most recent disclosure with the SEC. The firm owned 187,735 shares of the company’s stock after selling 7,033 shares during the period. Cibc World Market Inc.’s holdings in Colgate-Palmolive were worth $17,067,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Union Bancaire Privee UBP SA purchased a new position in shares of Colgate-Palmolive during the 4th quarter worth $32,000. Reston Wealth Management LLC acquired a new position in Colgate-Palmolive in the third quarter valued at about $42,000. Synergy Asset Management LLC purchased a new position in Colgate-Palmolive during the fourth quarter worth about $49,000. Capital Performance Advisors LLP acquired a new stake in shares of Colgate-Palmolive during the third quarter valued at about $53,000. Finally, Prospera Private Wealth LLC purchased a new stake in shares of Colgate-Palmolive in the 3rd quarter valued at approximately $64,000. Institutional investors and hedge funds own 80.41% of the company’s stock.

Insider Transactions at Colgate-Palmolive

In other news, CFO Stanley J. Sutula III sold 45,410 shares of the firm’s stock in a transaction that occurred on Tuesday, November 5th. The shares were sold at an average price of $94.11, for a total transaction of $4,273,535.10. Following the transaction, the chief financial officer now directly owns 36,726 shares in the company, valued at approximately $3,456,283.86. This trade represents a 55.29 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders own 0.34% of the company’s stock.

Colgate-Palmolive Price Performance

Shares of NYSE CL opened at $86.64 on Friday. The stock’s 50-day simple moving average is $91.52 and its 200-day simple moving average is $97.25. The company has a debt-to-equity ratio of 9.46, a quick ratio of 0.68 and a current ratio of 1.04. The firm has a market capitalization of $70.78 billion, a PE ratio of 24.82, a price-to-earnings-growth ratio of 3.70 and a beta of 0.44. Colgate-Palmolive has a fifty-two week low of $82.68 and a fifty-two week high of $109.30.

Colgate-Palmolive (NYSE:CL) last issued its quarterly earnings data on Friday, January 31st. The company reported $0.91 earnings per share for the quarter, topping the consensus estimate of $0.90 by $0.01. Colgate-Palmolive had a net margin of 14.27% and a return on equity of 405.81%. During the same quarter in the prior year, the firm posted $0.87 earnings per share. As a group, equities research analysts forecast that Colgate-Palmolive will post 3.58 EPS for the current fiscal year.

Colgate-Palmolive Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, February 14th. Shareholders of record on Tuesday, January 21st will be issued a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a dividend yield of 2.31%. The ex-dividend date is Tuesday, January 21st. Colgate-Palmolive’s payout ratio is 57.31%.

Analyst Ratings Changes

Several research firms recently weighed in on CL. Barclays dropped 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 report on Friday, January 17th. TD Cowen dropped their price objective on Colgate-Palmolive from $110.00 to $100.00 and set a “buy” rating for the company in a research note on Wednesday, January 8th. Wells Fargo & Company decreased their target price on Colgate-Palmolive from $92.00 to $83.00 and set an “underweight” rating on the stock in a research note on Tuesday, January 7th. Stifel Nicolaus dropped their target price on Colgate-Palmolive from $101.00 to $95.00 and set a “hold” rating for the company in a research report on Friday, January 17th. Finally, Royal Bank of Canada reissued a “sector perform” rating and set a $101.00 price target on shares of Colgate-Palmolive in a research report on Wednesday. One research analyst has rated the stock with a sell rating, ten have given a hold rating and eleven have assigned a buy rating to the company. According to data from MarketBeat, the company has an average rating of “Hold” and an average price target of $102.00.

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.