Colgate-Palmolive Company $CL Shares Bought by Cibc World Market Inc.

Cibc World Market Inc. grew its stake in Colgate-Palmolive Company (NYSE:CL) by 128.5% during the third quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 342,437 shares of the company’s stock after purchasing an additional 192,597 shares during the quarter. Cibc World Market Inc.’s holdings in Colgate-Palmolive were worth $27,374,000 as of its most recent filing with the SEC.

A number of other hedge funds have also bought and sold shares of CL. Caprock Group LLC acquired a new stake in Colgate-Palmolive during the third quarter valued at approximately $2,516,000. ING Groep NV bought a new stake in shares of Colgate-Palmolive in the 3rd quarter valued at approximately $14,200,000. Impax Asset Management Group plc raised its position in shares of Colgate-Palmolive by 0.5% during the 3rd quarter. Impax Asset Management Group plc now owns 252,965 shares of the company’s stock valued at $20,222,000 after acquiring an additional 1,325 shares in the last quarter. Westbourne Investments Inc. bought a new position in Colgate-Palmolive during the third quarter worth $252,000. Finally, ABC Arbitrage SA acquired a new position in Colgate-Palmolive in the third quarter worth $1,101,000. 80.41% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, insider Sally Massey sold 15,851 shares of the business’s stock in a transaction on Thursday, February 5th. The stock was sold at an average price of $95.03, for a total transaction of $1,506,320.53. Following the sale, the insider directly owned 13,751 shares of the company’s stock, valued at $1,306,757.53. The trade was a 53.55% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CFO Stanley J. Sutula III sold 97,843 shares of the stock in a transaction on Wednesday, February 4th. The shares were sold at an average price of $94.27, for a total value of $9,223,659.61. Following the completion of the transaction, the chief financial officer owned 55,310 shares of the company’s stock, valued at $5,214,073.70. This trade represents a 63.89% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders own 0.34% of the company’s stock.

Colgate-Palmolive Price Performance

Shares of NYSE CL opened at $95.36 on Thursday. The firm has a 50-day moving average of $83.06 and a two-hundred day moving average of $81.73. The company has a market capitalization of $76.87 billion, a price-to-earnings ratio of 36.40, a PEG ratio of 4.24 and a beta of 0.29. The company has a current ratio of 0.42, a quick ratio of 0.27 and a debt-to-equity ratio of 5.90. Colgate-Palmolive Company has a twelve month low of $74.54 and a twelve month high of $100.18.

Colgate-Palmolive (NYSE:CL) last released its earnings results on Friday, January 30th. The company reported $0.95 EPS for the quarter, beating the consensus estimate of $0.91 by $0.04. The business had revenue of $5.23 billion during the quarter, compared to analyst estimates of $5.13 billion. Colgate-Palmolive had a net margin of 10.45% and a return on equity of 353.72%. The business’s quarterly revenue was up 5.8% on a year-over-year basis. During the same period in the prior year, the business earned $0.91 earnings per share. As a group, analysts expect that Colgate-Palmolive Company will post 3.75 earnings per share for the current fiscal year.

Colgate-Palmolive Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, February 13th. Stockholders of record on Wednesday, January 21st will be paid 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 2.2%. Colgate-Palmolive’s dividend payout ratio (DPR) is currently 79.39%.

Analyst Upgrades and Downgrades

A number of research analysts have recently issued reports on CL shares. Royal Bank Of Canada upgraded shares of Colgate-Palmolive from a “sector perform” rating to an “outperform” rating and set a $88.00 price target on the stock in a research report on Tuesday, December 9th. Deutsche Bank Aktiengesellschaft lifted their target price on Colgate-Palmolive from $83.00 to $90.00 and gave the company a “hold” rating in a research note on Monday, February 2nd. Wells Fargo & Company increased their price target on Colgate-Palmolive from $86.00 to $94.00 and gave the stock an “equal weight” rating in a research report on Sunday, February 1st. JPMorgan Chase & Co. raised their price target on Colgate-Palmolive from $93.00 to $97.00 and gave the stock an “overweight” rating in a report on Monday, February 2nd. Finally, UBS Group boosted their price objective on Colgate-Palmolive from $90.00 to $93.00 and gave the company a “buy” rating in a research report on Wednesday, January 14th. Eleven research analysts have rated the stock with a Buy rating and six have given a Hold rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $94.47.

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.