Colgate-Palmolive Company $CL Stock Holdings Trimmed by Canoe Financial LP

Canoe Financial LP trimmed its position in Colgate-Palmolive Company (NYSE:CL) by 17.5% in the first quarter, Holdings Channel.com reports. The fund owned 79,246 shares of the company’s stock after selling 16,800 shares during the period. Canoe Financial LP’s holdings in Colgate-Palmolive were worth $6,754,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also made changes to their positions in the company. Brighton Jones LLC boosted its holdings in Colgate-Palmolive by 4.4% in the fourth quarter. Brighton Jones LLC now owns 10,578 shares of the company’s stock worth $962,000 after purchasing an additional 450 shares during the period. Woodline Partners LP raised its holdings in shares of Colgate-Palmolive by 76.3% during the first quarter. Woodline Partners LP now owns 46,361 shares of the company’s stock worth $4,344,000 after purchasing an additional 20,062 shares during the period. Schnieders Capital Management LLC. raised its holdings in shares of Colgate-Palmolive by 2.0% during the second quarter. Schnieders Capital Management LLC. now owns 12,494 shares of the company’s stock worth $1,136,000 after purchasing an additional 245 shares during the period. Nebula Research & Development LLC lifted its position in shares of Colgate-Palmolive by 165.5% in the 2nd quarter. Nebula Research & Development LLC now owns 10,326 shares of the company’s stock worth $939,000 after buying an additional 6,437 shares during the last quarter. Finally, Sei Investments Co. lifted its position in shares of Colgate-Palmolive by 21.7% in the 2nd quarter. Sei Investments Co. now owns 657,093 shares of the company’s stock worth $59,732,000 after buying an additional 116,968 shares during the last quarter. 80.41% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of equities research analysts recently weighed in on CL shares. Deutsche Bank Aktiengesellschaft reaffirmed a “buy” rating and set a $99.00 price objective on shares of Colgate-Palmolive in a research report on Monday, May 4th. Bank of America cut their target price on shares of Colgate-Palmolive from $105.00 to $102.00 and set a “buy” rating on the stock in a report on Friday, April 10th. Rothschild & Co Redburn set a $100.00 target price on Colgate-Palmolive and gave the company a “buy” rating in a research note on Tuesday, April 21st. JPMorgan Chase & Co. increased their price target on Colgate-Palmolive from $95.00 to $96.00 and gave the stock an “overweight” rating in a research report on Monday, May 4th. Finally, The Goldman Sachs Group reissued a “buy” rating on shares of Colgate-Palmolive in a report on Friday, May 1st. Twelve equities research analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, Colgate-Palmolive presently has an average rating of “Moderate Buy” and an average target price of $95.88.

Colgate-Palmolive Stock Performance

Shares of CL stock opened at $92.06 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 debt-to-equity ratio of 16.33, a current ratio of 1.02 and a quick ratio of 0.67. The firm has a market capitalization of $73.66 billion, a price-to-earnings ratio of 35.82, a price-to-earnings-growth ratio of 4.85 and a beta of 0.33. The business has a 50 day simple moving average of $88.07 and a 200 day simple moving average of $87.12.

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

Colgate-Palmolive Dividend Announcement

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

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.