CIBC Private Wealth Group LLC Acquires 561 Shares of Colgate-Palmolive (NYSE:CL)

CIBC Private Wealth Group LLC increased its holdings in shares of Colgate-Palmolive (NYSE:CL) by 0.1% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 1,029,865 shares of the company’s stock after purchasing an additional 561 shares during the quarter. CIBC Private Wealth Group LLC’s holdings in Colgate-Palmolive were worth $90,072,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors also recently modified their holdings of the company. Captrust Financial Advisors raised its holdings in shares of Colgate-Palmolive by 4.6% during the third quarter. Captrust Financial Advisors now owns 112,489 shares of the company’s stock valued at $11,677,000 after purchasing an additional 4,995 shares during the last quarter. True Wealth Design LLC grew its position in Colgate-Palmolive by 1,460.9% in the 3rd quarter. True Wealth Design LLC now owns 718 shares of the company’s stock worth $75,000 after purchasing an additional 672 shares during the period. Erste Asset Management GmbH purchased a new stake in Colgate-Palmolive during the 3rd quarter valued at $15,932,000. B&L Asset Management LLC purchased a new position in shares of Colgate-Palmolive in the 3rd quarter worth $595,000. Finally, FSA Wealth Management LLC bought a new stake in shares of Colgate-Palmolive in the third quarter worth $207,000. 80.41% of the stock is owned by hedge funds and other institutional investors.

Colgate-Palmolive Stock Performance

Shares of NYSE CL opened at $92.73 on Monday. The company has a market cap of $75.25 billion, a P/E ratio of 26.34, a P/E/G ratio of 4.20 and a beta of 0.40. Colgate-Palmolive has a 52-week low of $85.32 and a 52-week high of $109.30. The company has a debt-to-equity ratio of 13.40, a quick ratio of 0.58 and a current ratio of 0.92. The firm’s fifty day moving average is $89.69 and its two-hundred day moving average is $93.52.

Colgate-Palmolive (NYSE:CL) last issued its earnings results on Friday, January 31st. The company reported $0.91 earnings per share (EPS) for the quarter, topping 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 previous year, the business earned $0.87 EPS. As a group, analysts anticipate that Colgate-Palmolive will post 3.75 EPS for the current fiscal year.

Colgate-Palmolive announced that its board has initiated a share buyback plan on Thursday, March 20th that allows the company to buyback $5.00 billion in outstanding shares. This buyback authorization allows the company to reacquire up to 6.8% of its shares through open market purchases. Shares buyback plans are typically an indication that the company’s leadership believes its shares are undervalued.

Colgate-Palmolive Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, May 15th. Stockholders of record on Thursday, April 17th will be given a dividend of $0.52 per share. This is an increase from Colgate-Palmolive’s previous quarterly dividend of $0.50. This represents a $2.08 dividend on an annualized basis and a dividend yield of 2.24%. The ex-dividend date of this dividend is Thursday, April 17th. Colgate-Palmolive’s dividend payout ratio is currently 59.09%.

Analyst Upgrades and Downgrades

CL has been the topic of a number of recent research reports. Raymond James reissued an “outperform” rating and issued a $105.00 target price (down previously from $110.00) on shares of Colgate-Palmolive in a report on Monday, February 3rd. JPMorgan Chase & Co. raised their price objective on shares of Colgate-Palmolive from $97.00 to $99.00 and gave the stock an “overweight” rating in a report on Friday, March 14th. Morgan Stanley cut their target price on shares of Colgate-Palmolive from $111.00 to $104.00 and set an “overweight” rating for the company in a research report on Monday, February 3rd. Royal Bank of Canada reiterated a “sector perform” rating and issued a $101.00 price target on shares of Colgate-Palmolive in a research report on Wednesday, January 29th. Finally, UBS Group cut their price objective on shares of Colgate-Palmolive from $104.00 to $100.00 and set a “buy” rating for the company in a research report on Monday, February 3rd. 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’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $102.06.

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.