Colgate-Palmolive Company $CL Shares Bought by Cardinal Point Capital Management ULC

Cardinal Point Capital Management ULC raised its stake in Colgate-Palmolive Company (NYSE:CL) by 39.7% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 15,206 shares of the company’s stock after buying an additional 4,325 shares during the quarter. Cardinal Point Capital Management ULC’s holdings in Colgate-Palmolive were worth $1,382,000 at the end of the most recent quarter.

Other large investors also recently bought and sold shares of the company. Personal CFO Solutions LLC acquired a new position in Colgate-Palmolive in the first quarter valued at about $285,000. Vision Capital Management Inc. acquired a new position in Colgate-Palmolive in the first quarter valued at about $322,000. Financial Gravity Asset Management Inc. acquired a new stake in shares of Colgate-Palmolive during the first quarter worth about $2,166,000. Cidel Asset Management Inc. boosted its stake in shares of Colgate-Palmolive by 13.6% in the second quarter. Cidel Asset Management Inc. now owns 329,060 shares of the company’s stock valued at $29,912,000 after purchasing an additional 39,413 shares during the period. Finally, Penserra Capital Management LLC increased its position in shares of Colgate-Palmolive by 398.6% during the first quarter. Penserra Capital Management LLC now owns 10,651 shares of the company’s stock worth $997,000 after acquiring an additional 8,515 shares during the period. Institutional investors and hedge funds own 80.41% of the company’s stock.

Wall Street Analysts Forecast Growth

CL has been the topic of several recent analyst reports. Piper Sandler initiated coverage on Colgate-Palmolive in a report on Friday, October 3rd. They issued a “neutral” rating and a $84.00 target price on the stock. UBS Group cut their target price on Colgate-Palmolive from $99.00 to $92.00 and set a “buy” rating on the stock in a research report on Wednesday, October 8th. Raymond James Financial dropped their price target on shares of Colgate-Palmolive from $105.00 to $95.00 and set an “outperform” rating on the stock in a research note on Monday. Deutsche Bank Aktiengesellschaft set a $86.00 target price on shares of Colgate-Palmolive in a research report on Friday, October 10th. Finally, Barclays reduced their price target on shares of Colgate-Palmolive from $87.00 to $82.00 and set an “equal weight” rating for the company in a research report on Wednesday, October 1st. Eight equities research analysts have rated the stock with a Buy rating, five have issued a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $91.50.

Colgate-Palmolive Price Performance

Shares of NYSE CL opened at $78.47 on Friday. The stock has a market cap of $63.42 billion, a price-to-earnings ratio of 22.04, a PEG ratio of 4.69 and a beta of 0.34. Colgate-Palmolive Company has a 52 week low of $76.68 and a 52 week high of $100.18. The company’s 50-day moving average price is $81.47 and its 200 day moving average price is $87.01. The company has a current ratio of 0.89, a quick ratio of 0.57 and a debt-to-equity ratio of 6.79.

Colgate-Palmolive (NYSE:CL) last issued its quarterly earnings data on Friday, August 1st. The company reported $0.92 EPS for the quarter, beating analysts’ consensus estimates of $0.89 by $0.03. The firm had revenue of $5.11 billion for the quarter, compared to analysts’ expectations of $5.03 billion. Colgate-Palmolive had a net margin of 14.55% and a return on equity of 377.63%. The firm’s revenue was up 1.0% on a year-over-year basis. During the same period in the prior year, the company earned $0.91 EPS. As a group, research analysts forecast that Colgate-Palmolive Company will post 3.75 earnings per share for the current fiscal year.

Colgate-Palmolive Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, November 14th. Investors of record on Friday, October 17th will be paid a $0.52 dividend. This represents a $2.08 dividend on an annualized basis and a yield of 2.7%. The ex-dividend date of this dividend is Friday, October 17th. Colgate-Palmolive’s dividend payout ratio is presently 58.43%.

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.