Colgate-Palmolive (NYSE:CL) Shares Purchased by Vident Advisory LLC

Vident Advisory LLC increased its stake in Colgate-Palmolive (NYSE:CL) by 89.3% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 37,994 shares of the company’s stock after purchasing an additional 17,919 shares during the quarter. Vident Advisory LLC’s holdings in Colgate-Palmolive were worth $3,454,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also recently bought and sold shares of the stock. Vanguard Group Inc. increased its stake in Colgate-Palmolive by 0.7% in the 4th quarter. Vanguard Group Inc. now owns 81,303,059 shares of the company’s stock worth $7,391,261,000 after purchasing an additional 588,230 shares in the last quarter. Geode Capital Management LLC increased its stake in Colgate-Palmolive by 1.6% in the 4th quarter. Geode Capital Management LLC now owns 20,518,014 shares of the company’s stock worth $1,868,723,000 after purchasing an additional 324,683 shares in the last quarter. Norges Bank purchased a new position in Colgate-Palmolive in the 4th quarter worth about $912,375,000. Northern Trust Corp increased its stake in Colgate-Palmolive by 11.7% in the 4th quarter. Northern Trust Corp now owns 9,497,819 shares of the company’s stock worth $863,447,000 after purchasing an additional 993,328 shares in the last quarter. Finally, Amundi increased its stake in Colgate-Palmolive by 12.8% in the 4th quarter. Amundi now owns 9,200,144 shares of the company’s stock worth $806,015,000 after purchasing an additional 1,040,604 shares in the last quarter. Hedge funds and other institutional investors own 80.41% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts recently weighed in on CL shares. StockNews.com cut Colgate-Palmolive from a “buy” rating to a “hold” rating in a research note on Wednesday, May 7th. UBS Group lifted their target price on Colgate-Palmolive from $105.00 to $109.00 and gave the company a “buy” rating in a research note on Thursday, April 17th. Morgan Stanley lowered their target price on Colgate-Palmolive from $111.00 to $104.00 and set an “overweight” rating on the stock in a research note on Monday, February 3rd. Piper Sandler lowered their target price on Colgate-Palmolive from $108.00 to $107.00 and set an “overweight” rating on the stock in a research note on Monday, March 31st. Finally, JPMorgan Chase & Co. lifted their target price on Colgate-Palmolive from $95.00 to $103.00 and gave the company an “overweight” rating in a research note on Monday, April 28th. One analyst has rated the stock with a sell rating, ten have issued a hold rating and ten have assigned a buy rating to the company. According to data from MarketBeat, Colgate-Palmolive presently has an average rating of “Hold” and a consensus target price of $102.12.

Colgate-Palmolive Stock Up 0.2%

CL opened at $91.96 on Wednesday. The business has a 50 day moving average price of $91.71 and a 200 day moving average price of $91.26. Colgate-Palmolive has a twelve month low of $85.32 and a twelve month high of $109.30. The company has a debt-to-equity ratio of 13.40, a quick ratio of 0.58 and a current ratio of 0.92. The firm has a market cap of $74.53 billion, a P/E ratio of 26.13, a price-to-earnings-growth ratio of 4.20 and a beta of 0.39.

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

Colgate-Palmolive declared that its Board of Directors has approved a share repurchase plan on Thursday, March 20th that permits the company to repurchase $5.00 billion in shares. This repurchase authorization permits the company to purchase up to 6.8% of its stock through open market purchases. Stock repurchase plans are usually a sign that the company’s management believes its stock is undervalued.

Colgate-Palmolive Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, May 15th. Investors of record on Thursday, April 17th were paid a $0.52 dividend. This represents a $2.08 dividend on an annualized basis and a dividend yield of 2.26%. This is a positive change from Colgate-Palmolive’s previous quarterly dividend of $0.50. The ex-dividend date was Thursday, April 17th. Colgate-Palmolive’s dividend payout ratio is presently 58.76%.

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.