Colgate-Palmolive (NYSE:CL) Stock Position Lifted by Blueprint Investment Partners LLC

Blueprint Investment Partners LLC boosted its stake in shares of Colgate-Palmolive (NYSE:CL) by 57.5% during the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor owned 3,871 shares of the company’s stock after purchasing an additional 1,413 shares during the period. Blueprint Investment Partners LLC’s holdings in Colgate-Palmolive were worth $352,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the stock. State Street Corp grew its position in Colgate-Palmolive by 3.8% in the third quarter. State Street Corp now owns 48,436,276 shares of the company’s stock worth $5,028,170,000 after acquiring an additional 1,784,411 shares in the last quarter. Geode Capital Management LLC grew its position in Colgate-Palmolive by 2.8% in the third quarter. Geode Capital Management LLC now owns 20,193,331 shares of the company’s stock worth $2,095,325,000 after acquiring an additional 552,949 shares in the last quarter. Amundi grew its position in Colgate-Palmolive by 12.8% in the fourth quarter. Amundi now owns 9,200,144 shares of the company’s stock worth $806,015,000 after acquiring an additional 1,040,604 shares in the last quarter. Barclays PLC grew its position in Colgate-Palmolive by 38.7% in the third quarter. Barclays PLC now owns 7,644,189 shares of the company’s stock worth $793,542,000 after acquiring an additional 2,132,747 shares in the last quarter. Finally, FMR LLC grew its position in Colgate-Palmolive by 65.6% in the third quarter. FMR LLC now owns 6,749,275 shares of the company’s stock worth $700,642,000 after acquiring an additional 2,674,807 shares in the last quarter. 80.41% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of brokerages have recently weighed in on CL. Raymond James restated an “outperform” rating and issued a $105.00 price objective (down from $110.00) on shares of Colgate-Palmolive in a research note on Monday, February 3rd. TD Cowen reduced their price objective on shares of Colgate-Palmolive from $110.00 to $100.00 and set a “buy” rating for the company in a research note on Wednesday, January 8th. UBS Group reduced their price objective on shares of Colgate-Palmolive from $104.00 to $100.00 and set a “buy” rating for the company in a research note on Monday, February 3rd. Wells Fargo & Company reduced their price objective on shares of Colgate-Palmolive from $92.00 to $83.00 and set an “underweight” rating for the company in a research note on Tuesday, January 7th. Finally, Piper Sandler reduced their price objective on shares of Colgate-Palmolive from $121.00 to $112.00 and set an “overweight” rating for the company in a research note on Monday, January 6th. One equities research analyst has rated the stock with a sell rating, ten have given a hold rating and eleven have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $101.72.

Colgate-Palmolive Stock Up 0.0 %

Shares of NYSE:CL opened at $90.30 on Monday. Colgate-Palmolive has a 12 month low of $85.32 and a 12 month high of $109.30. The company’s 50-day moving average price is $89.33 and its two-hundred day moving average price is $94.07. 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 firm has a market cap of $73.28 billion, a P/E ratio of 25.65, a P/E/G ratio of 4.20 and a beta of 0.40.

Colgate-Palmolive (NYSE:CL) last issued its earnings results on Friday, January 31st. The company reported $0.91 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.90 by $0.01. Colgate-Palmolive had a net margin of 14.38% and a return on equity of 477.77%. During the same period last year, the firm posted $0.87 EPS. As a group, research analysts forecast that Colgate-Palmolive will post 3.75 EPS for the current fiscal year.

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

Colgate-Palmolive Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, May 15th. Stockholders of record on Thursday, April 17th will be given a dividend of $0.52 per share. This is a boost from Colgate-Palmolive’s previous quarterly dividend of $0.50. The ex-dividend date of this dividend is Thursday, April 17th. This represents a $2.08 annualized dividend and a dividend yield of 2.30%. Colgate-Palmolive’s payout ratio is currently 56.82%.

Colgate-Palmolive 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.