Cidel Asset Management Inc. Has $23.80 Million Position in Colgate-Palmolive Company $CL

Cidel Asset Management Inc. decreased its holdings in shares of Colgate-Palmolive Company (NYSE:CL) by 4.3% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 301,187 shares of the company’s stock after selling 13,457 shares during the quarter. Colgate-Palmolive makes up 1.7% of Cidel Asset Management Inc.’s holdings, making the stock its 19th biggest position. Cidel Asset Management Inc.’s holdings in Colgate-Palmolive were worth $23,800,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. Copia Wealth Management bought a new position in shares of Colgate-Palmolive in the third quarter valued at about $29,000. Cloud Capital Management LLC acquired a new position in shares of Colgate-Palmolive in the third quarter valued at approximately $30,000. Global Wealth Strategies & Associates grew its holdings in Colgate-Palmolive by 300.0% in the 4th quarter. Global Wealth Strategies & Associates now owns 400 shares of the company’s stock valued at $32,000 after buying an additional 300 shares in the last quarter. Grove Bank & Trust grew its holdings in Colgate-Palmolive by 182.6% in the 4th quarter. Grove Bank & Trust now owns 407 shares of the company’s stock valued at $32,000 after buying an additional 263 shares in the last quarter. Finally, Kelleher Financial Advisors bought a new position in Colgate-Palmolive during the 3rd quarter worth $35,000. 80.41% of the stock is currently owned by institutional investors and hedge funds.

Colgate-Palmolive Stock Down 0.1%

CL stock opened at $85.04 on Monday. Colgate-Palmolive Company has a 12 month low of $74.54 and a 12 month high of $99.33. The company has a current ratio of 0.83, a quick ratio of 0.54 and a debt-to-equity ratio of 18.82. The stock has a market capitalization of $68.23 billion, a P/E ratio of 32.46, a price-to-earnings-growth ratio of 3.91 and a beta of 0.34. The firm has a 50-day moving average price of $91.10 and a 200-day moving average price of $83.47.

Colgate-Palmolive (NYSE:CL) last issued its quarterly earnings data on Friday, January 30th. The company reported $0.95 earnings per share for the quarter, topping analysts’ consensus estimates of $0.91 by $0.04. Colgate-Palmolive had a return on equity of 353.72% and a net margin of 10.45%.The business had revenue of $5.23 billion for the quarter, compared to analyst estimates of $5.13 billion. During the same quarter in the previous year, the company posted $0.91 EPS. Colgate-Palmolive’s quarterly revenue was up 5.8% compared to the same quarter last year. As a group, equities research analysts anticipate that Colgate-Palmolive Company will post 3.75 EPS for the current fiscal year.

Colgate-Palmolive Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, May 15th. Investors of record on Monday, April 20th will be paid a $0.53 dividend. This is a positive change from Colgate-Palmolive’s previous quarterly dividend of $0.52. This represents a $2.12 annualized dividend and a dividend yield of 2.5%. The ex-dividend date of this dividend is Monday, April 20th. Colgate-Palmolive’s payout ratio is presently 79.39%.

Analyst Upgrades and Downgrades

CL has been the topic of several research reports. JPMorgan Chase & Co. upped their price target on shares of Colgate-Palmolive from $93.00 to $97.00 and gave the company an “overweight” rating in a research note on Monday, February 2nd. TD Cowen reiterated a “hold” rating and issued a $85.00 price target on shares of Colgate-Palmolive in a research report on Tuesday, March 31st. Citigroup boosted their price target on Colgate-Palmolive from $95.00 to $105.00 and gave the company a “buy” 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. Finally, Evercore lifted their price objective on Colgate-Palmolive from $94.00 to $100.00 and gave the company an “outperform” rating in a report on Monday, February 2nd. Eleven investment analysts have rated the stock with a Buy rating and six have issued a Hold rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $95.19.

Insider Buying and Selling

In other news, insider Sally Massey sold 15,851 shares of the stock in a transaction dated Thursday, February 5th. The stock was sold at an average price of $95.03, for a total value of $1,506,320.53. Following the completion of the sale, the insider owned 13,751 shares of the company’s stock, valued at approximately $1,306,757.53. This represents a 53.55% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, COO Panagiotis Tsourapas sold 15,000 shares of the stock in a transaction that occurred on Thursday, February 12th. The shares were sold at an average price of $97.81, for a total transaction of $1,467,150.00. Following the sale, the chief operating officer directly owned 10,415 shares of the company’s stock, valued at $1,018,691.15. This represents a 59.02% decrease in their position. The SEC filing for this sale provides additional information. Over the last quarter, insiders have sold 184,683 shares of company stock worth $17,486,693. Corporate insiders own 0.34% of the company’s stock.

Colgate-Palmolive Company 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.