Galibier Capital Management Ltd. Acquires 13,431 Shares of Colgate-Palmolive Company (NYSE:CL)

Galibier Capital Management Ltd. increased its position in shares of Colgate-Palmolive Company (NYSE:CL - Free Report) by 1,119.3% during the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 14,631 shares of the company's stock after acquiring an additional 13,431 shares during the quarter. Colgate-Palmolive comprises about 0.4% of Galibier Capital Management Ltd.'s investment portfolio, making the stock its 22nd largest position. Galibier Capital Management Ltd.'s holdings in Colgate-Palmolive were worth $1,371,000 at the end of the most recent reporting period.

Several other large investors have also made changes to their positions in CL. Norges Bank acquired a new position in shares of Colgate-Palmolive during the fourth quarter valued at $912,375,000. Diamond Hill Capital Management Inc. acquired a new stake in Colgate-Palmolive during the 4th quarter worth $348,718,000. Deutsche Bank AG grew its holdings in Colgate-Palmolive by 35.6% during the 4th quarter. Deutsche Bank AG now owns 6,922,994 shares of the company's stock worth $629,369,000 after acquiring an additional 1,816,865 shares during the period. Castlekeep Investment Advisors LLC acquired a new stake in Colgate-Palmolive during the 4th quarter worth $111,738,000. Finally, Renaissance Technologies LLC grew its holdings in Colgate-Palmolive by 70.2% during the 4th quarter. Renaissance Technologies LLC now owns 2,808,110 shares of the company's stock worth $255,285,000 after acquiring an additional 1,158,060 shares during the period. Institutional investors and hedge funds own 80.41% of the company's stock.

Analyst Upgrades and Downgrades

A number of research firms recently commented on CL. JPMorgan Chase & Co. upped their price objective on Colgate-Palmolive from $95.00 to $103.00 and gave the company an "overweight" rating in a report on Monday, April 28th. Barclays dropped their price objective on Colgate-Palmolive from $89.00 to $86.00 and set an "equal weight" rating for the company in a report on Friday, April 11th. Citigroup upped their price objective on Colgate-Palmolive from $103.00 to $108.00 and gave the company a "buy" rating in a report on Monday, April 28th. UBS Group lifted their price target on shares of Colgate-Palmolive from $105.00 to $109.00 and gave the stock a "buy" rating in a research report on Thursday, April 17th. Finally, Wall Street Zen cut shares of Colgate-Palmolive from a "buy" rating to a "hold" rating in a research report on Wednesday, May 7th. One equities research analyst has rated the stock with a sell rating, ten have assigned a hold rating and eight have assigned a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of "Hold" and an average price target of $101.13.

Colgate-Palmolive Stock Down 1.1%

Colgate-Palmolive stock traded down $1.02 during mid-day trading on Friday, reaching $89.60. The company's stock had a trading volume of 2,191,150 shares, compared to its average volume of 4,836,882. The company has a market capitalization of $72.61 billion, a price-to-earnings ratio of 25.31, a price-to-earnings-growth ratio of 4.85 and a beta of 0.37. Colgate-Palmolive Company has a 12 month low of $85.32 and a 12 month high of $109.30. The business's 50 day simple moving average is $90.64 and its 200 day simple moving average is $90.54. The company has a debt-to-equity ratio of 8.96, a quick ratio of 0.54 and a current ratio of 0.85.

Colgate-Palmolive (NYSE:CL - Get Free Report) last released its earnings results on Friday, April 25th. The company reported $0.91 earnings per share for the quarter, beating analysts' consensus estimates of $0.86 by $0.05. The business had revenue of $4.91 billion during the quarter, compared to the consensus estimate of $4.92 billion. Colgate-Palmolive had a net margin of 14.52% and a return on equity of 461.04%. The firm's revenue for the quarter was down 3.0% compared to the same quarter last year. During the same quarter last year, the firm earned $0.86 earnings per share. As a group, research analysts anticipate that Colgate-Palmolive Company will post 3.75 earnings per share for the current year.

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

Colgate-Palmolive Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, August 15th. Stockholders 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 2.32%. The ex-dividend date is Friday, July 18th. Colgate-Palmolive's dividend payout ratio is currently 58.76%.

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.