Colgate-Palmolive (NYSE:CL) Stake Increased by Capital International Investors

Capital International Investors raised its stake in shares of Colgate-Palmolive (NYSE:CL) by 0.1% during the fourth quarter, HoldingsChannel reports. The fund owned 1,001,369 shares of the company’s stock after acquiring an additional 1,106 shares during the quarter. Capital International Investors’ holdings in Colgate-Palmolive were worth $91,034,000 as of its most recent SEC filing.

Other hedge funds also recently added to or reduced their stakes in the company. Kohmann Bosshard Financial Services LLC bought a new position in shares of Colgate-Palmolive during the fourth quarter worth about $26,000. Centricity Wealth Management LLC acquired a new stake in Colgate-Palmolive during the fourth quarter valued at approximately $27,000. Union Bancaire Privee UBP SA bought a new position in Colgate-Palmolive during the 4th quarter worth approximately $32,000. Briaud Financial Planning Inc acquired a new position in shares of Colgate-Palmolive in the 4th quarter worth approximately $32,000. Finally, Wintrust Investments LLC bought a new stake in shares of Colgate-Palmolive in the 4th quarter valued at approximately $33,000. 80.41% of the stock is owned by institutional investors and hedge funds.

Colgate-Palmolive Price Performance

Shares of NYSE:CL opened at $95.49 on Friday. The stock has a market cap of $77.45 billion, a price-to-earnings ratio of 27.13, a PEG ratio of 4.20 and a beta of 0.40. 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 has a 12 month low of $85.32 and a 12 month high of $109.30. The stock’s 50 day moving average price is $91.31 and its 200 day moving average price is $92.36.

Colgate-Palmolive (NYSE:CL) last announced its quarterly earnings data on Friday, January 31st. The company reported $0.91 earnings per share for the quarter, beating the consensus estimate 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 business earned $0.87 earnings per share. Equities research analysts anticipate that Colgate-Palmolive will post 3.75 earnings per share for the current fiscal year.

Colgate-Palmolive Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, May 15th. Stockholders of record on Thursday, April 17th will be paid a $0.52 dividend. The ex-dividend date of this dividend is Thursday, April 17th. This represents a $2.08 annualized dividend and a dividend yield of 2.18%. This is a boost from Colgate-Palmolive’s previous quarterly dividend of $0.50. Colgate-Palmolive’s payout ratio is currently 59.09%.

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

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on the stock. StockNews.com downgraded shares of Colgate-Palmolive from a “buy” rating to a “hold” rating in a report on Wednesday. Royal Bank of Canada reaffirmed a “sector perform” rating and issued a $101.00 price target on shares of Colgate-Palmolive in a report on Wednesday, January 29th. Morgan Stanley dropped their price objective on shares of Colgate-Palmolive from $111.00 to $104.00 and set an “overweight” rating on the stock in a research note on Monday, February 3rd. Wells Fargo & Company raised their target price on shares of Colgate-Palmolive from $83.00 to $88.00 and gave the stock an “underweight” rating in a report on Wednesday, April 2nd. Finally, Stifel Nicolaus lowered their target price on Colgate-Palmolive from $95.00 to $93.00 and set a “hold” rating for the company in a report on Monday, February 3rd. One analyst has rated the stock with a sell rating, ten have issued a hold rating and eleven have assigned a buy rating to the stock. According to MarketBeat.com, Colgate-Palmolive currently has an average rating of “Hold” and a consensus target price of $102.17.

Colgate-Palmolive Company 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.