CIBC Asset Management Inc Grows Stake in Colgate-Palmolive Company $CL

CIBC Asset Management Inc grew its position in shares of Colgate-Palmolive Company (NYSE:CL) by 24.3% in the fourth quarter, Holdings Channel reports. The firm owned 380,450 shares of the company’s stock after purchasing an additional 74,366 shares during the period. CIBC Asset Management Inc’s holdings in Colgate-Palmolive were worth $30,048,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently made changes to their positions in CL. Norges Bank purchased a new position in shares of Colgate-Palmolive during the 4th quarter valued at $861,670,000. Northwestern Mutual Wealth Management Co. grew its position in shares of Colgate-Palmolive by 8,040.1% during the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 4,655,987 shares of the company’s stock valued at $380,666,000 after purchasing an additional 4,598,789 shares in the last quarter. Diamond Hill Capital Management Inc. grew its position in shares of Colgate-Palmolive by 46.7% during the 3rd quarter. Diamond Hill Capital Management Inc. now owns 8,077,549 shares of the company’s stock valued at $645,719,000 after purchasing an additional 2,572,796 shares in the last quarter. Amundi grew its position in shares of Colgate-Palmolive by 41.6% during the 3rd quarter. Amundi now owns 6,294,445 shares of the company’s stock valued at $487,505,000 after purchasing an additional 1,850,412 shares in the last quarter. Finally, Two Sigma Investments LP grew its position in shares of Colgate-Palmolive by 360.9% during the 3rd quarter. Two Sigma Investments LP now owns 2,126,249 shares of the company’s stock valued at $169,972,000 after purchasing an additional 1,664,949 shares in the last quarter. 80.41% of the stock is currently owned by hedge funds and other institutional investors.

Colgate-Palmolive Stock Down 3.8%

Shares of NYSE:CL opened at $84.95 on Thursday. Colgate-Palmolive Company has a 52-week low of $74.54 and a 52-week high of $99.33. The firm has a fifty day moving average of $86.41 and a 200 day moving average of $85.86. The firm has a market capitalization of $67.98 billion, a PE ratio of 33.05, a price-to-earnings-growth ratio of 4.58 and a beta of 0.33. The company has a debt-to-equity ratio of 16.33, a quick ratio of 0.67 and a current ratio of 1.02.

Colgate-Palmolive (NYSE:CL) last announced its earnings results on Friday, May 1st. The company reported $0.97 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.94 by $0.03. Colgate-Palmolive had a net margin of 10.04% and a return on equity of 386.76%. The company had revenue of $5.32 billion during the quarter, compared to analyst estimates of $5.22 billion. During the same period in the previous year, the business earned $0.91 earnings per share. The firm’s quarterly revenue was up 8.4% compared to the same quarter last year. As a group, research analysts anticipate that Colgate-Palmolive Company will post 3.82 EPS for the current fiscal year.

Colgate-Palmolive Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, May 15th. Investors of record on Monday, April 20th were given a $0.53 dividend. This represents a $2.12 annualized dividend and a yield of 2.5%. This is a boost from Colgate-Palmolive’s previous quarterly dividend of $0.52. The ex-dividend date was Monday, April 20th. Colgate-Palmolive’s dividend payout ratio (DPR) is presently 82.49%.

Analyst Ratings Changes

A number of research analysts have recently commented on the stock. Royal Bank Of Canada restated an “outperform” rating and set a $102.00 price target on shares of Colgate-Palmolive in a research report on Monday, May 4th. Wells Fargo & Company reduced their price target on shares of Colgate-Palmolive from $100.00 to $92.00 and set an “equal weight” rating for the company in a research report on Wednesday, April 8th. Piper Sandler reduced their price target on shares of Colgate-Palmolive from $96.00 to $92.00 and set an “overweight” rating for the company in a research report on Wednesday, April 8th. Barclays upped their target price on shares of Colgate-Palmolive from $79.00 to $80.00 and gave the stock an “equal weight” rating in a research report on Tuesday, May 5th. Finally, UBS Group upped their target price on shares of Colgate-Palmolive from $98.00 to $100.00 and gave the stock a “buy” rating in a research report on Monday, May 4th. Twelve analysts have rated the stock with a Buy rating and six have given a Hold rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $95.88.

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.