Cibc World Markets Corp Raises Stock Holdings in Colgate-Palmolive (NYSE:CL)

Cibc World Markets Corp raised its position in Colgate-Palmolive (NYSE:CL - Free Report) by 20.7% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 318,671 shares of the company's stock after buying an additional 54,683 shares during the quarter. Cibc World Markets Corp's holdings in Colgate-Palmolive were worth $28,970,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Kohmann Bosshard Financial Services LLC purchased a new stake in Colgate-Palmolive in the fourth quarter valued at approximately $26,000. Centricity Wealth Management LLC purchased a new stake in Colgate-Palmolive in the fourth quarter valued at approximately $27,000. Union Bancaire Privee UBP SA purchased a new stake in Colgate-Palmolive in the fourth quarter valued at approximately $32,000. Briaud Financial Planning Inc purchased a new stake in Colgate-Palmolive in the fourth quarter valued at approximately $32,000. Finally, Wintrust Investments LLC purchased a new stake in Colgate-Palmolive in the fourth quarter valued at approximately $33,000. Hedge funds and other institutional investors own 80.41% of the company's stock.

Colgate-Palmolive Price Performance

Colgate-Palmolive stock traded down $0.15 during trading hours on Thursday, hitting $90.29. The stock had a trading volume of 5,570,489 shares, compared to its average volume of 4,200,519. The company has a debt-to-equity ratio of 13.40, a current ratio of 0.92 and a quick ratio of 0.58. The stock has a market capitalization of $73.28 billion, a price-to-earnings ratio of 25.65, a PEG ratio of 4.20 and a beta of 0.40. Colgate-Palmolive has a 1-year low of $85.32 and a 1-year high of $109.30. The stock's fifty day moving average is $89.19 and its two-hundred day moving average is $94.41.

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Colgate-Palmolive (NYSE:CL - Get Free Report) last issued its quarterly earnings data on Friday, January 31st. The company reported $0.91 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.90 by $0.01. Colgate-Palmolive had a return on equity of 477.77% and a net margin of 14.38%. During the same period in the prior year, the company earned $0.87 EPS. As a group, analysts predict that Colgate-Palmolive will post 3.75 earnings per share for the current fiscal year.

Colgate-Palmolive Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, May 15th. Stockholders of record on Thursday, April 17th will be given a $0.52 dividend. This is an increase from Colgate-Palmolive's previous quarterly dividend of $0.50. This represents a $2.08 annualized dividend and a dividend yield of 2.30%. Colgate-Palmolive's dividend payout ratio is currently 56.82%.

Analyst Upgrades and Downgrades

A number of research analysts have recently issued reports on CL shares. Morgan Stanley dropped their target price on Colgate-Palmolive from $111.00 to $104.00 and set an "overweight" rating on the stock in a report on Monday, February 3rd. TD Cowen dropped their target price on Colgate-Palmolive from $110.00 to $100.00 and set a "buy" rating on the stock in a report on Wednesday, January 8th. StockNews.com lowered Colgate-Palmolive from a "buy" rating to a "hold" rating in a report on Friday, March 14th. Stifel Nicolaus dropped their target price on Colgate-Palmolive from $95.00 to $93.00 and set a "hold" rating on the stock in a report on Monday, February 3rd. Finally, Wells Fargo & Company dropped their target price on Colgate-Palmolive from $92.00 to $83.00 and set an "underweight" rating on the stock in a report on Tuesday, January 7th. One research analyst has rated the stock with a sell rating, ten have issued a hold rating and eleven have assigned a buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of "Hold" and a consensus target price of $101.72.

About Colgate-Palmolive

Colgate-Palmolive Company, together with its subsidiaries, manufactures and sells consumer products in the United States and internationally. It operates through two segments: Oral, Personal and Home Care; and Pet Nutrition. The Oral, Personal and Home Care segment offers toothpaste, toothbrushes, mouthwash, bar and liquid hand soaps, shower gels, shampoos, conditioners, deodorants and antiperspirants, skin health products, dishwashing detergents, fabric conditioners, household cleaners, and other related items.