CI Investments Inc. Lowers Stake in Colgate-Palmolive Company $CL

CI Investments Inc. lessened its stake in shares of Colgate-Palmolive Company (NYSE:CL) by 23.1% in the 1st quarter, according to its most recent disclosure with the SEC. The institutional investor owned 99,297 shares of the company’s stock after selling 29,897 shares during the period. CI Investments Inc.’s holdings in Colgate-Palmolive were worth $8,463,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Kemnay Advisory Services Inc. bought a new position in shares of Colgate-Palmolive during the 4th quarter worth $25,000. CBIZ Investment Advisory Services LLC raised its holdings in shares of Colgate-Palmolive by 86.7% in the fourth quarter. CBIZ Investment Advisory Services LLC now owns 323 shares of the company’s stock valued at $26,000 after acquiring an additional 150 shares in the last quarter. Jessup Wealth Management Inc bought a new stake in shares of Colgate-Palmolive in the fourth quarter valued at about $26,000. Triumph Capital Management lifted its stake in Colgate-Palmolive by 62.9% in the fourth quarter. Triumph Capital Management now owns 329 shares of the company’s stock worth $26,000 after acquiring an additional 127 shares during the period. Finally, TD Capital Management LLC grew its holdings in Colgate-Palmolive by 61.4% during the 4th quarter. TD Capital Management LLC now owns 326 shares of the company’s stock worth $26,000 after acquiring an additional 124 shares in the last quarter. Institutional investors own 80.41% of the company’s stock.

Colgate-Palmolive Stock Performance

Shares of Colgate-Palmolive stock opened at $89.98 on Friday. The company has a market capitalization of $72.00 billion, a PE ratio of 35.01, a P/E/G ratio of 4.83 and a beta of 0.33. The company has a debt-to-equity ratio of 16.33, a quick ratio of 0.67 and a current ratio of 1.02. The company has a 50-day simple moving average of $90.72 and a two-hundred day simple moving average of $88.95. Colgate-Palmolive Company has a one year low of $74.54 and a one year high of $99.33.

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

Colgate-Palmolive Dividend Announcement

The company 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 dividend of $0.53 per share. The ex-dividend date of this dividend is Monday, July 20th. This represents a $2.12 dividend on an annualized basis and a yield of 2.4%. Colgate-Palmolive’s dividend payout ratio is presently 82.49%.

Analysts Set New Price Targets

A number of research analysts have commented on the stock. Weiss Ratings raised shares of Colgate-Palmolive from a “hold (c)” rating to a “hold (c+)” rating in a research report on Monday, May 4th. Citigroup increased their price objective on shares of Colgate-Palmolive from $105.00 to $110.00 and gave the company a “buy” rating in a research note on Tuesday, July 14th. Sanford C. Bernstein started coverage on shares of Colgate-Palmolive in a report on Thursday, June 11th. They set a “market perform” rating and a $96.00 price objective on the stock. Rothschild & Co Redburn set a $100.00 price objective on shares of Colgate-Palmolive and gave the stock a “buy” rating in a research note on Tuesday, April 21st. Finally, UBS Group upped their target price on Colgate-Palmolive from $100.00 to $106.00 and gave the stock a “buy” rating in a report on Thursday, July 16th. Twelve equities research analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $97.82.

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.