California State Teachers Retirement System Has $119.02 Million Holdings in Colgate-Palmolive (NYSE:CL)

California State Teachers Retirement System trimmed its holdings in shares of Colgate-Palmolive (NYSE:CL) by 0.6% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,309,204 shares of the company’s stock after selling 8,352 shares during the period. California State Teachers Retirement System’s holdings in Colgate-Palmolive were worth $119,020,000 as of its most recent SEC filing.

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

Colgate-Palmolive Price Performance

Shares of NYSE:CL opened at $90.99 on Tuesday. Colgate-Palmolive has a 12 month low of $85.32 and a 12 month high of $109.30. The stock has a market capitalization of $73.80 billion, a PE ratio of 25.85, a PEG ratio of 4.20 and a beta of 0.40. The company has a current ratio of 0.92, a quick ratio of 0.58 and a debt-to-equity ratio of 13.40. The firm has a 50 day moving average of $92.14 and a 200-day moving average of $92.05.

Colgate-Palmolive (NYSE:CL) last released its quarterly earnings data on Friday, April 25th. The company reported $0.91 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.86 by $0.05. Colgate-Palmolive had a net margin of 14.38% and a return on equity of 477.77%. The business had revenue of $4.91 billion during the quarter, compared to analysts’ expectations of $4.92 billion. During the same period in the prior year, the company earned $0.86 EPS. The firm’s quarterly revenue was down 3.0% compared to the same quarter last year. On average, equities 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 approved a stock buyback program on Thursday, March 20th that authorizes the company to buyback $5.00 billion in outstanding shares. This buyback authorization authorizes the company to repurchase up to 6.8% of its shares through open market purchases. Shares buyback programs are generally a sign that the company’s management believes its shares are undervalued.

Colgate-Palmolive Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, May 15th. Investors of record on Thursday, April 17th will be issued a $0.52 dividend. This represents a $2.08 dividend on an annualized basis and a yield of 2.29%. The ex-dividend date is Thursday, April 17th. This is a positive change from Colgate-Palmolive’s previous quarterly dividend of $0.50. Colgate-Palmolive’s dividend payout ratio (DPR) is 59.09%.

Wall Street Analyst Weigh In

CL has been the topic of a number of recent analyst reports. StockNews.com downgraded shares of Colgate-Palmolive from a “buy” rating to a “hold” rating in a report on Wednesday, April 16th. Barclays reduced their price target on Colgate-Palmolive from $89.00 to $86.00 and set an “equal weight” rating for the company in a report on Friday, April 11th. Stifel Nicolaus reduced their target price on Colgate-Palmolive from $95.00 to $93.00 and set a “hold” rating for the company in a research note on Monday, February 3rd. Citigroup lifted their price objective on shares of Colgate-Palmolive from $103.00 to $108.00 and gave the stock a “buy” rating in a research report on Monday. Finally, Morgan Stanley cut their target price 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. One investment analyst has rated the stock with a sell rating, ten have assigned a hold rating and eleven have issued a buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $102.39.

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.