UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC Boosts Stake in Colgate-Palmolive (NYSE:CL)

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its holdings in Colgate-Palmolive (NYSE:CL) by 11.2% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 6,299,989 shares of the company’s stock after purchasing an additional 632,653 shares during the quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC’s holdings in Colgate-Palmolive were worth $572,732,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also recently modified their holdings of the business. USS Investment Management Ltd raised its stake in shares of Colgate-Palmolive by 7.2% in the fourth quarter. USS Investment Management Ltd now owns 1,372,002 shares of the company’s stock worth $124,763,000 after purchasing an additional 92,477 shares during the last quarter. Worldquant Millennium Advisors LLC grew its holdings in shares of Colgate-Palmolive by 60.7% in the fourth quarter. Worldquant Millennium Advisors LLC now owns 1,277,841 shares of the company’s stock worth $116,169,000 after acquiring an additional 482,741 shares during the period. Waverly Advisors LLC grew its holdings in shares of Colgate-Palmolive by 3.5% in the fourth quarter. Waverly Advisors LLC now owns 100,827 shares of the company’s stock worth $9,166,000 after acquiring an additional 3,378 shares during the period. Wellington Wealth Strategies LLC. bought a new stake in shares of Colgate-Palmolive in the fourth quarter worth $1,534,000. Finally, Sone Capital Management LLC bought a new stake in shares of Colgate-Palmolive in the fourth quarter worth $1,646,000. Hedge funds and other institutional investors own 80.41% of the company’s stock.

Wall Street Analyst Weigh In

CL has been the subject of several research analyst reports. Royal Bank of Canada reaffirmed a “sector perform” rating and issued a $101.00 price objective on shares of Colgate-Palmolive in a report on Wednesday, January 29th. Citigroup lifted their price objective on Colgate-Palmolive from $103.00 to $108.00 and gave the stock a “buy” rating in a report on Monday, April 28th. UBS Group lifted their price objective on Colgate-Palmolive from $105.00 to $109.00 and gave the stock a “buy” rating in a report on Thursday, April 17th. Piper Sandler cut their price objective on Colgate-Palmolive from $108.00 to $107.00 and set an “overweight” rating for the company in a report on Monday, March 31st. Finally, Wells Fargo & Company lifted their price objective on Colgate-Palmolive from $83.00 to $88.00 and gave the stock an “underweight” rating in a report on Wednesday, April 2nd. One research 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’s stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $102.12.

Colgate-Palmolive Stock Performance

NYSE CL opened at $91.96 on Wednesday. The firm has a market cap of $74.53 billion, a price-to-earnings ratio of 26.13, a price-to-earnings-growth ratio of 4.20 and a beta of 0.39. The company has a quick ratio of 0.58, a current ratio of 0.92 and a debt-to-equity ratio of 13.40. 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.

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

Colgate-Palmolive Increases Dividend

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

Colgate-Palmolive declared that its board has authorized a share repurchase program on Thursday, March 20th that allows the company to repurchase $5.00 billion in shares. This repurchase authorization allows the company to reacquire up to 6.8% of its shares through open market purchases. Shares repurchase programs are typically an indication that the company’s leadership believes its stock is undervalued.

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.