Prudential PLC Reduces Holdings in Colgate-Palmolive (NYSE:CL)

Prudential PLC reduced its position in Colgate-Palmolive (NYSE:CL) by 5.5% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 96,747 shares of the company’s stock after selling 5,658 shares during the quarter. Prudential PLC’s holdings in Colgate-Palmolive were worth $8,795,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in CL. Royal London Asset Management Ltd. grew its position in shares of Colgate-Palmolive by 3.4% in the third quarter. Royal London Asset Management Ltd. now owns 445,623 shares of the company’s stock valued at $46,260,000 after purchasing an additional 14,844 shares in the last quarter. Quarry LP grew its holdings in Colgate-Palmolive by 386.4% in the 3rd quarter. Quarry LP now owns 1,605 shares of the company’s stock valued at $167,000 after buying an additional 1,275 shares in the last quarter. SYM FINANCIAL Corp acquired a new stake in shares of Colgate-Palmolive in the 3rd quarter worth $235,000. Weiss Asset Management LP purchased a new position in shares of Colgate-Palmolive during the 3rd quarter worth $8,482,000. Finally, Worldquant Millennium Advisors LLC boosted its position in shares of Colgate-Palmolive by 63.9% during the 3rd quarter. Worldquant Millennium Advisors LLC now owns 795,100 shares of the company’s stock valued at $82,539,000 after acquiring an additional 310,119 shares during the last quarter. Hedge funds and other institutional investors own 80.41% of the company’s stock.

Colgate-Palmolive Stock Performance

Shares of CL stock opened at $91.75 on Friday. The firm has a 50 day moving average of $90.27 and a two-hundred day moving average of $93.28. The stock has a market capitalization of $74.41 billion, a PE ratio of 26.06, a P/E/G ratio of 4.20 and a beta of 0.40. The company has a quick ratio of 0.58, a current ratio of 0.92 and a debt-to-equity ratio of 13.40. Colgate-Palmolive has a 52 week low of $85.32 and a 52 week high of $109.30.

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

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

Colgate-Palmolive Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, May 15th. Investors of record on Thursday, April 17th will be paid a dividend of $0.52 per share. This represents a $2.08 dividend on an annualized basis and a dividend yield of 2.27%. This is a positive change from Colgate-Palmolive’s previous quarterly dividend of $0.50. The ex-dividend date is Thursday, April 17th. Colgate-Palmolive’s dividend payout ratio is presently 59.09%.

Analyst Upgrades and Downgrades

A number of equities analysts have commented on the stock. StockNews.com raised shares of Colgate-Palmolive from a “hold” rating to a “buy” rating in a research note on Friday. Morgan Stanley reduced their price target on shares of Colgate-Palmolive from $111.00 to $104.00 and set an “overweight” rating on the stock in a research report on Monday, February 3rd. Royal Bank of Canada reiterated a “sector perform” rating and issued a $101.00 price objective on shares of Colgate-Palmolive in a research report on Wednesday, January 29th. TD Cowen reduced their target price on Colgate-Palmolive from $110.00 to $100.00 and set a “buy” rating on the stock in a research report on Wednesday, January 8th. Finally, Barclays increased their price target on Colgate-Palmolive from $83.00 to $89.00 and gave the stock an “equal weight” rating in a report on Thursday, March 27th. One equities research analyst has rated the stock with a sell rating, nine have given a hold rating and twelve have assigned a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $102.06.

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.