iA Global Asset Management Inc. Grows Position in Colgate-Palmolive Company (NYSE:CL)

Key Points

• iA Global Asset Management Inc. significantly increased its stake in Colgate-Palmolive by purchasing an additional 110,114 shares, raising its total holdings to 163,044 shares valued at approximately $15.3 million.
• Several hedge funds have also adjusted their positions in Colgate-Palmolive, with institutional investors now owning 80.41% of the company's stock.
• Colgate-Palmolive declared a quarterly dividend of $0.52 per share, representing an annualized yield of 2.5% and a payout ratio of 58.43%.

iA Global Asset Management Inc. boosted its stake in Colgate-Palmolive Company (NYSE:CL - Free Report) by 208.0% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 163,044 shares of the company's stock after buying an additional 110,114 shares during the period. iA Global Asset Management Inc.'s holdings in Colgate-Palmolive were worth $15,277,000 at the end of the most recent quarter.

A number of other large investors also recently bought and sold shares of the stock. Brighton Jones LLC raised its holdings in shares of Colgate-Palmolive by 4.4% in the 4th quarter. Brighton Jones LLC now owns 10,578 shares of the company's stock valued at $962,000 after buying an additional 450 shares during the period. Bernard Wealth Management Corp. purchased a new position in Colgate-Palmolive during the 4th quarter valued at about $36,000. World Investment Advisors grew its position in Colgate-Palmolive by 30.9% in the 4th quarter. World Investment Advisors now owns 9,487 shares of the company's stock valued at $862,000 after acquiring an additional 2,239 shares in the last quarter. Grantham Mayo Van Otterloo & Co. LLC increased its stake in Colgate-Palmolive by 4.1% during the fourth quarter. Grantham Mayo Van Otterloo & Co. LLC now owns 12,677 shares of the company's stock worth $1,152,000 after purchasing an additional 495 shares during the period. Finally, Federated Hermes Inc. lifted its position in shares of Colgate-Palmolive by 9.1% during the fourth quarter. Federated Hermes Inc. now owns 682,369 shares of the company's stock worth $62,034,000 after purchasing an additional 56,776 shares in the last quarter. Institutional investors and hedge funds own 80.41% of the company's stock.

Analysts Set New Price Targets

Several research firms have recently commented on CL. Citigroup lowered their price objective on shares of Colgate-Palmolive from $108.00 to $105.00 and set a "buy" rating for the company in a research note on Monday. Barclays raised their price target on shares of Colgate-Palmolive from $86.00 to $87.00 and gave the company an "equal weight" rating in a research report on Tuesday, July 15th. JPMorgan Chase & Co. cut their price objective on Colgate-Palmolive from $99.00 to $95.00 and set an "overweight" rating on the stock in a research report on Monday. UBS Group reduced their price objective on Colgate-Palmolive from $109.00 to $106.00 and set a "buy" rating on the stock in a research note on Thursday, July 17th. Finally, Wall Street Zen lowered Colgate-Palmolive from a "buy" rating to a "hold" rating in a report on Wednesday, May 7th. One analyst has rated the stock with a sell rating, five have assigned a hold rating and seven have issued a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of "Hold" and a consensus price target of $98.92.

Colgate-Palmolive Stock Up 0.0%

Shares of NYSE:CL traded up $0.04 on Thursday, hitting $84.65. 4,000,187 shares of the company's stock were exchanged, compared to its average volume of 4,877,156. Colgate-Palmolive Company has a 1-year low of $82.40 and a 1-year high of $109.30. The company has a market capitalization of $68.42 billion, a PE ratio of 23.78, a P/E/G ratio of 4.40 and a beta of 0.35. The company has a debt-to-equity ratio of 6.79, a quick ratio of 0.28 and a current ratio of 0.89. The firm's 50-day moving average is $88.92 and its 200 day moving average is $90.15.

Colgate-Palmolive (NYSE:CL - Get Free Report) last announced its quarterly earnings results on Friday, August 1st. The company reported $0.92 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.89 by $0.03. Colgate-Palmolive had a return on equity of 377.63% and a net margin of 14.55%. The firm had revenue of $5.11 billion during the quarter, compared to the consensus estimate of $5.03 billion. During the same period in the prior year, the company posted $0.91 earnings per share. The firm's quarterly revenue was up 1.0% compared to the same quarter last year. Sell-side analysts predict that Colgate-Palmolive Company will post 3.75 EPS for the current year.

Colgate-Palmolive Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, August 15th. Shareholders of record on Friday, July 18th will be paid a $0.52 dividend. This represents a $2.08 annualized dividend and a yield of 2.5%. The ex-dividend date is Friday, July 18th. Colgate-Palmolive's dividend payout ratio is currently 58.43%.

Colgate-Palmolive Company 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.