Canoe Financial LP Sells 4,000 Shares of Colgate-Palmolive Company (NYSE:CL)

Canoe Financial LP decreased its position in Colgate-Palmolive Company (NYSE:CL - Free Report) by 4.5% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 84,646 shares of the company's stock after selling 4,000 shares during the quarter. Canoe Financial LP's holdings in Colgate-Palmolive were worth $7,931,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also added to or reduced their stakes in the company. Aviva PLC increased its stake in Colgate-Palmolive by 13.4% in the 4th quarter. Aviva PLC now owns 973,421 shares of the company's stock worth $88,494,000 after acquiring an additional 114,855 shares during the last quarter. SBI Securities Co. Ltd. bought a new stake in Colgate-Palmolive in the 4th quarter worth approximately $304,000. Jupiter Asset Management Ltd. increased its stake in Colgate-Palmolive by 2.3% in the 4th quarter. Jupiter Asset Management Ltd. now owns 685,718 shares of the company's stock worth $62,339,000 after acquiring an additional 15,142 shares during the last quarter. Summit Investment Advisors Inc. increased its stake in Colgate-Palmolive by 10.8% in the 4th quarter. Summit Investment Advisors Inc. now owns 32,710 shares of the company's stock worth $2,974,000 after acquiring an additional 3,187 shares during the last quarter. Finally, Capula Management Ltd bought a new stake in Colgate-Palmolive in the 4th quarter worth approximately $374,000. Institutional investors own 80.41% of the company's stock.

Colgate-Palmolive Price Performance

Shares of CL stock opened at $87.85 on Friday. Colgate-Palmolive Company has a twelve month low of $85.32 and a twelve month high of $109.30. The stock has a market capitalization of $71.19 billion, a price-to-earnings ratio of 24.82, a P/E/G ratio of 4.68 and a beta of 0.38. The stock has a fifty day simple moving average of $91.50 and a two-hundred day simple moving average of $90.80. The company has a current ratio of 0.85, a quick ratio of 0.54 and a debt-to-equity ratio of 8.96.

Colgate-Palmolive (NYSE:CL - Get Free Report) last issued its earnings results on Friday, April 25th. The company reported $0.91 earnings per share for the quarter, topping the consensus estimate of $0.86 by $0.05. Colgate-Palmolive had a return on equity of 461.04% and a net margin of 14.52%. The business had revenue of $4.91 billion during the quarter, compared to analysts' expectations of $4.92 billion. During the same period in the prior year, the business earned $0.86 EPS. The business's revenue for the quarter was down 3.0% compared to the same quarter last year. On average, analysts predict that Colgate-Palmolive Company will post 3.75 EPS for the current fiscal year.

Colgate-Palmolive Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, August 15th. Investors of record on Friday, July 18th will be paid a dividend of $0.52 per share. This represents a $2.08 dividend on an annualized basis and a dividend yield of 2.37%. The ex-dividend date is Friday, July 18th. Colgate-Palmolive's dividend payout ratio (DPR) is currently 58.76%.

Colgate-Palmolive announced that its Board of Directors has authorized a share repurchase program on Thursday, March 20th that authorizes the company to buyback $5.00 billion in shares. This buyback authorization authorizes the company to repurchase up to 6.8% of its stock through open market purchases. Stock buyback programs are generally a sign that the company's board of directors believes its stock is undervalued.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on CL shares. UBS Group boosted their target price on Colgate-Palmolive from $105.00 to $109.00 and gave the company a "buy" rating in a research report on Thursday, April 17th. Citigroup boosted their target price on Colgate-Palmolive from $103.00 to $108.00 and gave the company a "buy" rating in a research report on Monday, April 28th. Wells Fargo & Company boosted their target price on Colgate-Palmolive from $83.00 to $88.00 and gave the company an "underweight" rating in a research report on Wednesday, April 2nd. Piper Sandler cut their target price on Colgate-Palmolive from $108.00 to $107.00 and set an "overweight" rating on the stock in a research report on Monday, March 31st. Finally, Wall Street Zen downgraded Colgate-Palmolive from a "buy" rating to a "hold" rating in a research report on Wednesday, May 7th. One investment analyst has rated the stock with a sell rating, ten have given a hold rating and ten have assigned a buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of "Hold" and a consensus target price of $102.12.

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.

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