Colgate-Palmolive Company $CL Shares Purchased by Canoe Financial LP

Canoe Financial LP raised its position in Colgate-Palmolive Company (NYSE:CL) by 23.3% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 99,646 shares of the company’s stock after acquiring an additional 18,800 shares during the quarter. Canoe Financial LP’s holdings in Colgate-Palmolive were worth $7,966,000 at the end of the most recent quarter.

Other institutional investors have also made changes to their positions in the company. Pacer Advisors Inc. increased its stake in Colgate-Palmolive by 3,052.2% during the 3rd quarter. Pacer Advisors Inc. now owns 2,697,047 shares of the company’s stock worth $215,602,000 after buying an additional 2,611,485 shares during the period. Secured Retirement Advisors LLC grew its stake in shares of Colgate-Palmolive by 62.8% during the third quarter. Secured Retirement Advisors LLC now owns 34,709 shares of the company’s stock valued at $2,775,000 after acquiring an additional 13,391 shares in the last quarter. Cornercap Investment Counsel Inc. acquired a new stake in shares of Colgate-Palmolive during the third quarter valued at about $1,459,000. Curbstone Financial Management Corp increased its position in shares of Colgate-Palmolive by 1.1% during the third quarter. Curbstone Financial Management Corp now owns 16,890 shares of the company’s stock worth $1,350,000 after acquiring an additional 180 shares during the last quarter. Finally, Milestone Asset Management LLC acquired a new position in shares of Colgate-Palmolive in the third quarter worth about $1,735,000. 80.41% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several research firms have issued reports on CL. JPMorgan Chase & Co. lifted their price objective on Colgate-Palmolive from $87.00 to $88.00 and gave the stock an “overweight” rating in a report on Thursday, December 18th. Weiss Ratings reissued a “hold (c)” rating on shares of Colgate-Palmolive in a research report on Wednesday, October 8th. Bank of America cut their price target on shares of Colgate-Palmolive from $98.00 to $88.00 and set a “buy” rating on the stock in a report on Wednesday, October 8th. Piper Sandler assumed coverage on shares of Colgate-Palmolive in a research note on Friday, October 3rd. They set a “neutral” rating and a $84.00 price objective on the stock. Finally, Barclays dropped their target price on shares of Colgate-Palmolive from $82.00 to $80.00 and set an “equal weight” rating for the company in a research report on Tuesday, November 4th. Ten investment analysts have rated the stock with a Buy rating, five have issued a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, Colgate-Palmolive currently has a consensus rating of “Moderate Buy” and an average price target of $88.81.

Colgate-Palmolive Stock Up 0.7%

CL stock opened at $80.50 on Friday. The firm has a market cap of $64.89 billion, a price-to-earnings ratio of 22.55, a PEG ratio of 5.72 and a beta of 0.30. Colgate-Palmolive Company has a 1-year low of $74.54 and a 1-year high of $100.18. The firm has a fifty day moving average price of $78.49 and a two-hundred day moving average price of $82.84. The company has a debt-to-equity ratio of 5.90, a current ratio of 0.93 and a quick ratio of 0.60.

Colgate-Palmolive (NYSE:CL) last posted its quarterly earnings results on Friday, October 31st. The company reported $0.91 EPS for the quarter, beating the consensus estimate of $0.89 by $0.02. Colgate-Palmolive had a net margin of 14.47% and a return on equity of 333.39%. The business had revenue of $5.13 billion during the quarter, compared to analyst estimates of $5.17 billion. During the same period in the previous year, the business posted $0.91 EPS. The company’s quarterly revenue was up 1.9% on a year-over-year basis. Research analysts predict that Colgate-Palmolive Company will post 3.75 EPS for the current year.

Colgate-Palmolive Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, February 13th. Stockholders of record on Wednesday, January 21st will be issued a dividend of $0.52 per share. The ex-dividend date of this dividend is Wednesday, January 21st. This represents a $2.08 annualized dividend and a dividend yield of 2.6%. Colgate-Palmolive’s dividend payout ratio is 58.26%.

About Colgate-Palmolive

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.