CIBC Private Wealth Group LLC Sells 2,556 Shares of Colgate-Palmolive (NYSE:CL)

Posted by Defense World Staff on Mar 15th, 2023

CIBC Private Wealth Group LLC lowered its holdings in Colgate-Palmolive (NYSE:CL – Get Rating) by 0.9% in the 3rd quarter, according to the company in its most recent filing with the SEC. The firm owned 278,674 shares of the company’s stock after selling 2,556 shares during the quarter. CIBC Private Wealth Group LLC’s holdings in Colgate-Palmolive were worth $19,577,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also bought and sold shares of the company. Third Point LLC lifted its stake in shares of Colgate-Palmolive by 481.9% in the 3rd quarter. Third Point LLC now owns 11,550,000 shares of the company’s stock valued at $811,388,000 after purchasing an additional 9,565,000 shares during the period. Renaissance Technologies LLC lifted its stake in shares of Colgate-Palmolive by 151.6% in the 1st quarter. Renaissance Technologies LLC now owns 5,688,786 shares of the company’s stock valued at $431,381,000 after purchasing an additional 3,427,400 shares during the period. Deutsche Bank AG lifted its stake in shares of Colgate-Palmolive by 33.3% in the 2nd quarter. Deutsche Bank AG now owns 10,441,903 shares of the company’s stock valued at $836,815,000 after purchasing an additional 2,610,321 shares during the period. Caisse DE Depot ET Placement DU Quebec raised its stake in Colgate-Palmolive by 121.9% during the second quarter. Caisse DE Depot ET Placement DU Quebec now owns 3,979,600 shares of the company’s stock valued at $318,925,000 after buying an additional 2,186,313 shares during the last quarter. Finally, Two Sigma Investments LP raised its stake in Colgate-Palmolive by 512.1% during the third quarter. Two Sigma Investments LP now owns 2,417,899 shares of the company’s stock valued at $169,857,000 after buying an additional 2,022,860 shares during the last quarter. Hedge funds and other institutional investors own 77.63% of the company’s stock.

Colgate-Palmolive Stock Up 1.0 %

Colgate-Palmolive stock opened at $72.24 on Wednesday. The stock has a market cap of $59.99 billion, a PE ratio of 33.92, a price-to-earnings-growth ratio of 3.71 and a beta of 0.48. The company has a debt-to-equity ratio of 10.84, a quick ratio of 0.76 and a current ratio of 1.28. Colgate-Palmolive has a one year low of $67.84 and a one year high of $83.81. The stock has a fifty day moving average of $74.58 and a 200 day moving average of $75.15.

Colgate-Palmolive (NYSE:CL – Get Rating) last posted its quarterly earnings data on Friday, January 27th. The company reported $0.77 EPS for the quarter, meeting analysts’ consensus estimates of $0.77. The company had revenue of $4.63 billion during the quarter, compared to analysts’ expectations of $4.58 billion. Colgate-Palmolive had a return on equity of 317.08% and a net margin of 9.93%. Colgate-Palmolive’s revenue for the quarter was up 5.1% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.79 earnings per share. As a group, sell-side analysts predict that Colgate-Palmolive will post 3.1 EPS for the current year.

Colgate-Palmolive Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, May 15th. Investors of record on Friday, April 21st will be given a dividend of $0.48 per share. This represents a $1.92 dividend on an annualized basis and a yield of 2.66%. The ex-dividend date is Thursday, April 20th. This is a boost from Colgate-Palmolive’s previous quarterly dividend of $0.47. Colgate-Palmolive’s dividend payout ratio is 88.26%.

Analysts Set New Price Targets

A number of research analysts have issued reports on CL shares. Wolfe Research started coverage on Colgate-Palmolive in a research note on Monday, November 21st. They set a “market perform” rating for the company. TheStreet cut Colgate-Palmolive from a “b” rating to a “c+” rating in a research note on Friday, January 27th. StockNews.com cut Colgate-Palmolive from a “buy” rating to a “hold” rating in a research note on Wednesday, February 1st. Deutsche Bank Aktiengesellschaft lowered their price objective on Colgate-Palmolive from $87.00 to $84.00 in a research note on Monday, January 30th. Finally, JPMorgan Chase & Co. lifted their price objective on Colgate-Palmolive from $81.00 to $86.00 and gave the company an “overweight” rating in a research note on Friday, January 13th. Six research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $82.09.

About Colgate-Palmolive

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Colgate-Palmolive Co is engaged in the manufacturing and distribution of consumer products. It operates through the Oral, Personal and Home Care, and Pet Nutrition segments. The Oral, Personal and Home Care segment represents North America, Latin America, Europe, Asia Pacific, and Africa or Eurasia, all of which sell to a variety of retail and wholesale customers and distributors.