Zacks Investment Management Sells 39,272 Shares of Colgate-Palmolive (NYSE:CL)

Zacks Investment Management decreased its position in shares of Colgate-Palmolive (NYSE:CL) by 86.8% in the fourth quarter, Holdings Channel reports. The fund owned 5,952 shares of the company’s stock after selling 39,272 shares during the period. Zacks Investment Management’s holdings in Colgate-Palmolive were worth $541,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

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

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on CL shares. Stifel Nicolaus decreased their price target on shares of Colgate-Palmolive from $95.00 to $93.00 and set a “hold” rating on the stock in a research note on Monday, February 3rd. UBS Group raised their price target on shares of Colgate-Palmolive from $105.00 to $109.00 and gave the stock a “buy” rating in a research note on Thursday. Royal Bank of Canada reissued a “sector perform” rating and issued a $101.00 target price on shares of Colgate-Palmolive in a report on Wednesday, January 29th. StockNews.com downgraded Colgate-Palmolive from a “buy” rating to a “hold” rating in a research report on Wednesday. Finally, TD Cowen lowered their price target 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. One equities research analyst has rated the stock with a sell rating, ten have assigned a hold rating and eleven have assigned a buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $102.17.

Colgate-Palmolive Stock Performance

Colgate-Palmolive stock opened at $95.49 on Friday. 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 company has a market cap of $77.45 billion, a PE ratio of 27.13, a PEG ratio of 4.20 and a beta of 0.40. The company’s 50-day moving average is $91.31 and its two-hundred day moving average is $92.36. Colgate-Palmolive has a 1 year low of $85.32 and a 1 year high of $109.30.

Colgate-Palmolive (NYSE:CL) last released its earnings results on Friday, January 31st. The company reported $0.91 EPS for the quarter, topping analysts’ consensus estimates 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 quarter last year, the firm posted $0.87 earnings per share. Equities analysts anticipate that Colgate-Palmolive will post 3.75 earnings per share for the current year.

Colgate-Palmolive Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, May 15th. Shareholders of record on Thursday, April 17th will be issued a dividend of $0.52 per share. The ex-dividend date is Thursday, April 17th. This represents a $2.08 dividend on an annualized basis and a yield of 2.18%. This is a boost from Colgate-Palmolive’s previous quarterly dividend of $0.50. Colgate-Palmolive’s dividend payout ratio (DPR) is 59.09%.

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 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.