Cidel Asset Management Inc. Has $21.44 Million Position in Colgate-Palmolive (NYSE:CL)

Cidel Asset Management Inc. cut its position in shares of Colgate-Palmolive (NYSE:CL) by 0.8% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 235,804 shares of the company’s stock after selling 1,852 shares during the quarter. Colgate-Palmolive accounts for 1.4% of Cidel Asset Management Inc.’s portfolio, making the stock its 21st biggest holding. Cidel Asset Management Inc.’s holdings in Colgate-Palmolive were worth $21,437,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in CL. Chicago Partners Investment Group LLC boosted its stake in Colgate-Palmolive by 16.2% during the fourth quarter. Chicago Partners Investment Group LLC now owns 6,752 shares of the company’s stock worth $591,000 after buying an additional 943 shares in the last quarter. Peak Financial Advisors LLC acquired a new stake in shares of Colgate-Palmolive during the 4th quarter valued at about $1,315,000. Gordian Advisors LLC bought a new stake in Colgate-Palmolive in the third quarter valued at about $602,000. Carrera Capital Advisors raised its position in Colgate-Palmolive by 23.1% in 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 in the last quarter. Finally, Fiduciary Alliance LLC bought a new position in Colgate-Palmolive during the fourth quarter worth about $4,066,000. 80.41% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on the company. Royal Bank of Canada reiterated a “sector perform” rating and issued a $101.00 price objective on shares of Colgate-Palmolive in a research note on Wednesday, January 29th. Wells Fargo & Company lowered their price target on Colgate-Palmolive from $92.00 to $83.00 and set an “underweight” rating on the stock in a research report on Tuesday, January 7th. Barclays cut their price objective on Colgate-Palmolive from $96.00 to $83.00 and set an “equal weight” rating for the company in a report on Friday, January 17th. Morgan Stanley lowered their target price on shares of Colgate-Palmolive from $111.00 to $104.00 and set an “overweight” rating on the stock in a report on Monday, February 3rd. Finally, Piper Sandler cut their price target on shares of Colgate-Palmolive from $121.00 to $112.00 and set an “overweight” rating for the company in a report on Monday, January 6th. One equities research analyst has rated the stock with a sell rating, ten have issued a hold rating and twelve have given a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $101.16.

Colgate-Palmolive Price Performance

Colgate-Palmolive stock opened at $86.81 on Friday. The business’s 50-day simple moving average is $90.56 and its 200 day simple moving average is $96.84. The company has a quick ratio of 0.26, a current ratio of 0.41 and a debt-to-equity ratio of 9.46. The stock has a market cap of $70.93 billion, a price-to-earnings ratio of 24.66, a P/E/G ratio of 3.61 and a beta of 0.44. Colgate-Palmolive has a 12-month low of $82.68 and a 12-month high of $109.30.

Colgate-Palmolive (NYSE:CL) last issued its earnings results on Friday, January 31st. The company reported $0.91 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.90 by $0.01. Colgate-Palmolive had a net margin of 14.38% and a return on equity of 477.77%. During the same period last year, the firm posted $0.87 EPS. As a group, research analysts anticipate that Colgate-Palmolive will post 3.74 earnings per share for the current year.

Colgate-Palmolive Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, February 14th. Stockholders of record on Tuesday, January 21st will be given a $0.50 dividend. The ex-dividend date is Tuesday, January 21st. This represents a $2.00 annualized dividend and a dividend yield of 2.30%. Colgate-Palmolive’s dividend payout ratio is currently 56.82%.

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.