Lazard Asset Management LLC Buys 226,377 Shares of Colgate-Palmolive (NYSE:CL)

Lazard Asset Management LLC raised its position in Colgate-Palmolive (NYSE:CL) by 15.6% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 1,680,725 shares of the company’s stock after acquiring an additional 226,377 shares during the period. Lazard Asset Management LLC’s holdings in Colgate-Palmolive were worth $152,793,000 as of its most recent SEC filing.

A number of other hedge funds also recently modified their holdings of CL. Kohmann Bosshard Financial Services LLC acquired a new stake in Colgate-Palmolive during the fourth quarter worth $26,000. Centricity Wealth Management LLC bought a new stake in Colgate-Palmolive in the fourth quarter valued at about $27,000. Union Bancaire Privee UBP SA bought a new position in Colgate-Palmolive during the fourth quarter worth about $32,000. Briaud Financial Planning Inc acquired a new stake in Colgate-Palmolive during the fourth quarter valued at approximately $32,000. Finally, Wintrust Investments LLC acquired a new position in shares of Colgate-Palmolive in the 4th quarter worth approximately $33,000. Institutional investors own 80.41% of the company’s stock.

Colgate-Palmolive Price Performance

Shares of CL opened at $89.91 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 stock has a market cap of $72.86 billion, a P/E ratio of 25.54, a price-to-earnings-growth ratio of 4.20 and a beta of 0.39. The stock’s 50-day moving average price is $92.21 and its two-hundred day moving average price is $91.47. Colgate-Palmolive has a 1 year low of $85.32 and a 1 year high of $109.30.

Colgate-Palmolive (NYSE:CL) last issued its quarterly earnings data on Friday, April 25th. The company reported $0.91 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.86 by $0.05. The firm had revenue of $4.91 billion during the quarter, compared to analysts’ expectations of $4.92 billion. Colgate-Palmolive had a net margin of 14.38% and a return on equity of 477.77%. The business’s revenue for the quarter was down 3.0% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.86 earnings per share. On average, equities analysts predict that Colgate-Palmolive will post 3.75 earnings per share for the current year.

Colgate-Palmolive declared that its board has authorized a stock buyback plan on Thursday, March 20th that allows the company to buyback $5.00 billion in outstanding shares. This buyback authorization allows the company to reacquire up to 6.8% of its stock through open market purchases. Stock buyback plans are often a sign that the company’s board of directors believes its stock is undervalued.

Colgate-Palmolive Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, May 15th. Shareholders of record on Thursday, April 17th will be issued a dividend of $0.52 per share. The ex-dividend date is Thursday, April 17th. This is a positive change from Colgate-Palmolive’s previous quarterly dividend of $0.50. This represents a $2.08 annualized dividend and a yield of 2.31%. Colgate-Palmolive’s payout ratio is currently 58.76%.

Analyst Upgrades and Downgrades

Several analysts recently commented on CL shares. Raymond James reaffirmed an “outperform” rating and issued a $105.00 price target (down previously from $110.00) on shares of Colgate-Palmolive in a research note on Monday, February 3rd. StockNews.com lowered shares of Colgate-Palmolive from a “buy” rating to a “hold” rating in a research report on Wednesday, May 7th. JPMorgan Chase & Co. increased their price target on Colgate-Palmolive from $95.00 to $103.00 and gave the stock an “overweight” rating in a research report on Monday, April 28th. Piper Sandler lowered their target price on Colgate-Palmolive from $108.00 to $107.00 and set an “overweight” rating for the company in a research note on Monday, March 31st. Finally, Royal Bank of Canada reiterated a “sector perform” rating and set a $101.00 target price on shares of Colgate-Palmolive in a research report on Wednesday, January 29th. One investment analyst has rated the stock with a sell rating, ten have given a hold rating and eleven have assigned a buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $102.39.

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.