CIBC Private Wealth Group LLC Has $90.07 Million Stake in Colgate-Palmolive (NYSE:CL)

CIBC Private Wealth Group LLC raised its stake in Colgate-Palmolive (NYSE:CL) by 0.1% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 1,029,865 shares of the company’s stock after buying an additional 561 shares during the period. CIBC Private Wealth Group LLC owned about 0.13% of Colgate-Palmolive worth $90,072,000 as of its most recent SEC filing.

A number of other hedge funds also recently made changes to their positions in the stock. Axxcess Wealth Management LLC increased its holdings in shares of Colgate-Palmolive by 0.3% in the 4th quarter. Axxcess Wealth Management LLC now owns 38,786 shares of the company’s stock worth $3,526,000 after buying an additional 117 shares during the last quarter. Commonwealth Financial Services LLC grew its holdings in shares of Colgate-Palmolive by 4.5% during the 4th quarter. Commonwealth Financial Services LLC now owns 2,716 shares of the company’s stock valued at $247,000 after purchasing an additional 118 shares during the last quarter. D Orazio & Associates Inc. increased its holdings in shares of Colgate-Palmolive by 4.2% in the fourth quarter. D Orazio & Associates Inc. now owns 2,982 shares of the company’s stock worth $271,000 after buying an additional 120 shares during the period. Lantz Financial LLC grew its position in Colgate-Palmolive by 0.6% during the 4th quarter. Lantz Financial LLC now owns 20,140 shares of the company’s stock worth $1,831,000 after acquiring an additional 122 shares during the last quarter. Finally, Pine Haven Investment Counsel Inc increased its stake in Colgate-Palmolive by 1.0% in the 4th quarter. Pine Haven Investment Counsel Inc now owns 13,006 shares of the company’s stock worth $1,182,000 after purchasing an additional 130 shares during the period. 80.41% of the stock is currently owned by institutional investors.

Colgate-Palmolive Stock Performance

Shares of CL stock opened at $92.73 on Monday. The company has a current ratio of 0.92, a quick ratio of 0.58 and a debt-to-equity ratio of 13.40. The company’s fifty day moving average price is $89.69 and its 200-day moving average price is $93.52. The stock has a market cap of $75.25 billion, a PE ratio of 26.34, a price-to-earnings-growth ratio of 4.20 and a beta of 0.40. Colgate-Palmolive has a 12 month low of $85.32 and a 12 month high of $109.30.

Colgate-Palmolive (NYSE:CL) last announced its quarterly earnings data on Friday, January 31st. The company reported $0.91 earnings per share for the quarter, topping analysts’ consensus estimates of $0.90 by $0.01. Colgate-Palmolive had a net margin of 14.38% and a return on equity of 477.77%. During the same period in the previous year, the firm earned $0.87 EPS. On average, equities analysts expect that Colgate-Palmolive will post 3.75 EPS for the current fiscal year.

Colgate-Palmolive announced that its board has approved a share repurchase program on Thursday, March 20th that authorizes the company to repurchase $5.00 billion in outstanding shares. This repurchase authorization authorizes the company to repurchase up to 6.8% of its shares through open market purchases. Shares repurchase programs are usually an indication that the company’s management believes its stock is undervalued.

Colgate-Palmolive Increases Dividend

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

Analysts Set New Price Targets

Several research analysts have recently issued reports on CL shares. Barclays raised their target price on shares of Colgate-Palmolive from $83.00 to $89.00 and gave the stock an “equal weight” rating in a report on Thursday. TD Cowen cut their price target on shares of Colgate-Palmolive from $110.00 to $100.00 and set a “buy” rating on the stock in a report on Wednesday, January 8th. Royal Bank of Canada reaffirmed a “sector perform” rating and set a $101.00 price objective on shares of Colgate-Palmolive in a research note on Wednesday, January 29th. Raymond James reissued an “outperform” rating and issued a $105.00 target price (down from $110.00) on shares of Colgate-Palmolive in a research note on Monday, February 3rd. Finally, StockNews.com lowered Colgate-Palmolive from a “buy” rating to a “hold” rating in a research report on Tuesday, March 25th. One analyst has rated the stock with a sell rating, ten have assigned a hold rating and eleven have given a buy rating to the company. According to MarketBeat, the stock 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.