Sarasin & Partners LLP Purchases 336,737 Shares of Colgate-Palmolive (NYSE:CL)

Sarasin & Partners LLP lifted its stake in shares of Colgate-Palmolive (NYSE:CL) by 9.5% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 3,874,593 shares of the company’s stock after acquiring an additional 336,737 shares during the period. Colgate-Palmolive accounts for about 3.9% of Sarasin & Partners LLP’s investment portfolio, making the stock its 9th largest position. Sarasin & Partners LLP owned 0.48% of Colgate-Palmolive worth $363,049,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors also recently bought and sold shares of the stock. Kohmann Bosshard Financial Services LLC acquired a new position in shares of Colgate-Palmolive in the 4th quarter valued at about $26,000. Centricity Wealth Management LLC acquired a new stake in shares of Colgate-Palmolive in the fourth quarter worth $27,000. Vermillion Wealth Management Inc. purchased a new position in shares of Colgate-Palmolive in the 4th quarter valued at $31,000. Union Bancaire Privee UBP SA acquired a new position in shares of Colgate-Palmolive during the 4th quarter valued at $32,000. Finally, Briaud Financial Planning Inc acquired a new position in shares of Colgate-Palmolive during the 4th quarter valued at $32,000. Hedge funds and other institutional investors own 80.41% of the company’s stock.

Analyst Ratings Changes

CL has been the topic of several research reports. Wall Street Zen lowered Colgate-Palmolive from a “buy” rating to a “hold” rating in a research report on Wednesday, May 7th. Wells Fargo & Company raised their target price on Colgate-Palmolive from $83.00 to $88.00 and gave the company an “underweight” rating in a report on Wednesday, April 2nd. JPMorgan Chase & Co. upped their price target on Colgate-Palmolive from $95.00 to $103.00 and gave the stock an “overweight” rating in a report on Monday, April 28th. Piper Sandler lowered their price objective on shares of Colgate-Palmolive from $108.00 to $107.00 and set an “overweight” rating for the company in a research report on Monday, March 31st. Finally, Barclays reduced their target price on shares of Colgate-Palmolive from $89.00 to $86.00 and set an “equal weight” rating on the stock in a research report on Friday, April 11th. One investment analyst has rated the stock with a sell rating, ten have issued a hold rating and ten have given a buy rating to the stock. Based on data from MarketBeat.com, Colgate-Palmolive has an average rating of “Hold” and a consensus price target of $102.12.

Colgate-Palmolive Price Performance

Shares of NYSE CL opened at $90.94 on Tuesday. The business has a 50 day simple moving average of $91.71 and a 200-day simple moving average of $91.12. The company has a current ratio of 0.92, a quick ratio of 0.58 and a debt-to-equity ratio of 13.40. Colgate-Palmolive has a twelve month low of $85.32 and a twelve month high of $109.30. The company has a market capitalization of $73.70 billion, a price-to-earnings ratio of 25.83, a price-to-earnings-growth ratio of 4.20 and a beta of 0.38.

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

Colgate-Palmolive declared that its Board of Directors has initiated 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 buy up to 6.8% of its stock through open market purchases. Stock buyback programs are often a sign that the company’s board believes its stock is undervalued.

Colgate-Palmolive Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, May 15th. Investors of record on Thursday, April 17th were issued a $0.52 dividend. This represents a $2.08 dividend on an annualized basis and a yield of 2.29%. This is a positive change from Colgate-Palmolive’s previous quarterly dividend of $0.50. The ex-dividend date was Thursday, April 17th. Colgate-Palmolive’s dividend payout ratio is 58.76%.

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.