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

Cidel Asset Management Inc. increased its holdings in shares of Colgate-Palmolive Company (NYSE:CL) by 13.6% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 329,060 shares of the company’s stock after purchasing an additional 39,413 shares during the period. Colgate-Palmolive makes up 1.8% of Cidel Asset Management Inc.’s holdings, making the stock its 16th biggest position. Cidel Asset Management Inc.’s holdings in Colgate-Palmolive were worth $29,912,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in CL. Price T Rowe Associates Inc. MD grew its position in shares of Colgate-Palmolive by 18.3% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 34,009,078 shares of the company’s stock valued at $3,186,651,000 after acquiring an additional 5,269,140 shares during the period. Nuveen LLC acquired a new stake in shares of Colgate-Palmolive during the 1st quarter valued at about $217,593,000. Goldman Sachs Group Inc. grew its position in shares of Colgate-Palmolive by 34.5% during the 1st quarter. Goldman Sachs Group Inc. now owns 7,980,387 shares of the company’s stock valued at $747,762,000 after acquiring an additional 2,045,191 shares during the period. Diamond Hill Capital Management Inc. grew its position in shares of Colgate-Palmolive by 45.0% during the 1st quarter. Diamond Hill Capital Management Inc. now owns 5,562,968 shares of the company’s stock valued at $521,250,000 after acquiring an additional 1,727,105 shares during the period. Finally, VIRGINIA RETIREMENT SYSTEMS ET Al acquired a new stake in shares of Colgate-Palmolive during the 2nd quarter valued at about $83,837,000. Hedge funds and other institutional investors own 80.41% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently commented on the company. Wells Fargo & Company dropped their target price on Colgate-Palmolive from $83.00 to $80.00 and set an “underweight” rating on the stock in a research report on Thursday, September 25th. Weiss Ratings restated a “hold (c)” rating on shares of Colgate-Palmolive in a research report on Wednesday, October 8th. JPMorgan Chase & Co. dropped their target price on shares of Colgate-Palmolive from $95.00 to $88.00 and set an “overweight” rating on the stock in a research report on Friday, October 10th. The Goldman Sachs Group dropped their target price on shares of Colgate-Palmolive from $106.00 to $91.00 and set a “buy” rating on the stock in a research report on Thursday, October 2nd. Finally, Bank of America dropped their target price on shares of Colgate-Palmolive from $98.00 to $88.00 and set a “buy” rating on the stock in a research report on Wednesday, October 8th. Eight investment analysts have rated the stock with a Buy rating, five have issued a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $92.21.

Colgate-Palmolive Stock Performance

CL opened at $79.14 on Friday. The firm has a market capitalization of $63.96 billion, a PE ratio of 22.23, a PEG ratio of 4.64 and a beta of 0.34. Colgate-Palmolive Company has a twelve month low of $76.68 and a twelve month high of $100.54. The firm’s 50-day moving average price is $81.96 and its 200 day moving average price is $87.34. The company has a current ratio of 0.89, a quick ratio of 0.57 and a debt-to-equity ratio of 6.79.

Colgate-Palmolive (NYSE:CL) last posted its quarterly earnings results on Friday, August 1st. The company reported $0.92 earnings per share for the quarter, topping analysts’ consensus estimates of $0.89 by $0.03. The firm had revenue of $5.11 billion for the quarter, compared to analyst estimates of $5.03 billion. Colgate-Palmolive had a net margin of 14.55% and a return on equity of 377.63%. Colgate-Palmolive’s quarterly revenue was up 1.0% on a year-over-year basis. During the same period in the previous year, the business posted $0.91 earnings per share. As a group, sell-side analysts expect that Colgate-Palmolive Company will post 3.75 EPS for the current fiscal year.

Colgate-Palmolive Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, November 14th. Investors of record on Friday, October 17th will be given a dividend of $0.52 per share. The ex-dividend date is Friday, October 17th. This represents a $2.08 dividend on an annualized basis and a yield of 2.6%. Colgate-Palmolive’s payout ratio is presently 58.43%.

Colgate-Palmolive Profile

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.