Cidel Asset Management Inc. Grows Position in Colgate-Palmolive Company $CL

Cidel Asset Management Inc. raised its stake in Colgate-Palmolive Company (NYSE:CL) by 6.5% in the first quarter, HoldingsChannel.com reports. The fund owned 320,907 shares of the company’s stock after purchasing an additional 19,720 shares during the quarter. Colgate-Palmolive comprises approximately 1.5% of Cidel Asset Management Inc.’s portfolio, making the stock its 22nd biggest position. Cidel Asset Management Inc.’s holdings in Colgate-Palmolive were worth $27,351,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also made changes to their positions in the stock. Kemnay Advisory Services Inc. acquired a new stake in shares of Colgate-Palmolive during the fourth quarter valued at $25,000. CBIZ Investment Advisory Services LLC raised its stake in Colgate-Palmolive by 86.7% in the 4th quarter. CBIZ Investment Advisory Services LLC now owns 323 shares of the company’s stock valued at $26,000 after purchasing an additional 150 shares during the last quarter. TD Capital Management LLC raised its stake in Colgate-Palmolive by 61.4% in the 4th quarter. TD Capital Management LLC now owns 326 shares of the company’s stock valued at $26,000 after purchasing an additional 124 shares during the last quarter. Triumph Capital Management lifted its holdings in Colgate-Palmolive by 62.9% in the 4th quarter. Triumph Capital Management now owns 329 shares of the company’s stock valued at $26,000 after purchasing an additional 127 shares in the last quarter. Finally, Jessup Wealth Management Inc purchased a new position in Colgate-Palmolive in the 4th quarter valued at about $26,000. 80.41% of the stock is currently owned by hedge funds and other institutional investors.

Colgate-Palmolive Stock Performance

NYSE CL opened at $91.65 on Wednesday. The business’s 50-day moving average price is $87.60 and its 200 day moving average price is $86.82. The company has a current ratio of 1.02, a quick ratio of 0.67 and a debt-to-equity ratio of 16.33. Colgate-Palmolive Company has a twelve month low of $74.54 and a twelve month high of $99.33. The company has a market capitalization of $73.34 billion, a PE ratio of 35.66, a price-to-earnings-growth ratio of 4.67 and a beta of 0.33.

Colgate-Palmolive (NYSE:CL) last posted its quarterly earnings results on Friday, May 1st. The company reported $0.97 EPS for the quarter, beating the consensus estimate of $0.94 by $0.03. The company had revenue of $5.32 billion during the quarter, compared to analysts’ expectations of $5.22 billion. Colgate-Palmolive had a return on equity of 386.76% and a net margin of 10.04%.The firm’s revenue was up 8.4% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.91 EPS. On average, research analysts predict that Colgate-Palmolive Company will post 3.81 earnings per share for the current year.

Colgate-Palmolive Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, August 14th. Investors of record on Monday, July 20th will be given a $0.53 dividend. The ex-dividend date of this dividend is Monday, July 20th. This represents a $2.12 annualized dividend and a dividend yield of 2.3%. Colgate-Palmolive’s dividend payout ratio (DPR) is currently 82.49%.

Analysts Set New Price Targets

CL has been the topic of several analyst reports. Royal Bank Of Canada reaffirmed an “outperform” rating and set a $102.00 price target on shares of Colgate-Palmolive in a research note on Monday, May 4th. JPMorgan Chase & Co. boosted their price objective on shares of Colgate-Palmolive from $95.00 to $96.00 and gave the company an “overweight” rating in a research report on Monday, May 4th. UBS Group upped their price objective on shares of Colgate-Palmolive from $98.00 to $100.00 and gave the company a “buy” rating in a research note on Monday, May 4th. Sanford C. Bernstein assumed coverage on shares of Colgate-Palmolive in a research report on Thursday, June 11th. They set a “market perform” rating and a $96.00 target price on the stock. Finally, Wells Fargo & Company lowered their target price on shares of Colgate-Palmolive from $100.00 to $92.00 and set an “equal weight” rating for the company in a research note on Wednesday, April 8th. Twelve analysts have rated the stock with a Buy rating and seven have given a Hold rating to the stock. According to data from MarketBeat.com, Colgate-Palmolive presently has an average rating of “Moderate Buy” and an average target price of $95.88.

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.