Toronto Dominion Bank Buys 2,331 Shares of Colgate-Palmolive (NYSE:CL)

Toronto Dominion Bank increased its stake in shares of Colgate-Palmolive (NYSE:CL) by 0.5% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 463,557 shares of the company’s stock after buying an additional 2,331 shares during the quarter. Toronto Dominion Bank owned 0.06% of Colgate-Palmolive worth $42,140,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also bought and sold shares of the stock. Vanguard Group Inc. lifted its position in shares of Colgate-Palmolive by 0.7% during the fourth quarter. Vanguard Group Inc. now owns 81,303,059 shares of the company’s stock valued at $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 valued at $1,868,723,000 after buying an additional 324,683 shares during the last quarter. Norges Bank bought a new position in shares of Colgate-Palmolive during the 4th quarter worth approximately $912,375,000. Northern Trust Corp boosted its stake in shares of 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 buying an additional 993,328 shares during the last quarter. Finally, Amundi grew its holdings in shares of Colgate-Palmolive by 12.8% in the fourth quarter. Amundi now owns 9,200,144 shares of the company’s stock valued at $806,015,000 after acquiring an additional 1,040,604 shares in the last quarter. 80.41% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on CL. Stifel Nicolaus cut their price objective on Colgate-Palmolive from $95.00 to $93.00 and set a “hold” rating on the stock in a research report on Monday, February 3rd. Royal Bank of Canada restated a “sector perform” rating and set a $101.00 price target on shares of Colgate-Palmolive in a research report on Wednesday, January 29th. Piper Sandler dropped their target price on shares of Colgate-Palmolive from $108.00 to $107.00 and set an “overweight” rating on the stock in a research note on Monday, March 31st. Morgan Stanley decreased their price target on shares of Colgate-Palmolive from $111.00 to $104.00 and set an “overweight” rating for the company in a research note on Monday, February 3rd. Finally, Wells Fargo & Company upped their price objective on Colgate-Palmolive from $83.00 to $88.00 and gave the company an “underweight” rating in a research note on Wednesday, April 2nd. One research analyst has rated the stock with a sell rating, ten have assigned a hold rating and ten have assigned a buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $102.12.

Colgate-Palmolive Stock Up 1.8%

CL opened at $91.26 on Friday. The firm has a market capitalization of $73.96 billion, a P/E ratio of 25.93, a price-to-earnings-growth ratio of 4.20 and a beta of 0.39. Colgate-Palmolive has a one year low of $85.32 and a one year high of $109.30. The company has a fifty day moving average price of $91.65 and a 200-day moving average price of $91.29. The company has a debt-to-equity ratio of 13.40, a current ratio of 0.92 and a quick ratio of 0.58.

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

Colgate-Palmolive announced that its board has initiated a share repurchase program on Thursday, March 20th that authorizes the company to buyback $5.00 billion in shares. This buyback authorization authorizes the company to purchase up to 6.8% of its shares through open market purchases. Shares buyback programs are often a sign that the company’s board believes its stock is undervalued.

Colgate-Palmolive Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, May 15th. Shareholders of record on Thursday, April 17th were given a dividend of $0.52 per share. The ex-dividend date of this dividend was 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 2.28%. Colgate-Palmolive’s 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.