Mackenzie Financial Corp Grows Stock Holdings in Colgate-Palmolive (NYSE:CL)

Mackenzie Financial Corp increased its stake in shares of Colgate-Palmolive (NYSE:CL) by 4.1% during the 4th quarter, according to its most recent filing with the SEC. The institutional investor owned 3,836,582 shares of the company’s stock after acquiring an additional 151,053 shares during the period. Mackenzie Financial Corp’s holdings in Colgate-Palmolive were worth $348,784,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also made changes to their positions in the company. Kohmann Bosshard Financial Services LLC acquired a new position in shares of Colgate-Palmolive during the fourth quarter valued at approximately $26,000. Centricity Wealth Management LLC bought a new stake in Colgate-Palmolive in the fourth 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 about $32,000. Finally, Wintrust Investments LLC bought a new position in Colgate-Palmolive during the fourth quarter valued at about $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 $92.67 on Friday. The company has a quick ratio of 0.58, a current ratio of 0.92 and a debt-to-equity ratio of 13.40. The stock’s 50 day moving average is $91.81 and its 200-day moving average is $91.24. The firm has a market capitalization of $75.10 billion, a price-to-earnings ratio of 26.33, a PEG ratio of 4.20 and a beta of 0.39. Colgate-Palmolive has a twelve month low of $85.32 and a twelve month high of $109.30.

Colgate-Palmolive (NYSE:CL) last posted its quarterly earnings results on Friday, April 25th. The company reported $0.91 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.86 by $0.05. Colgate-Palmolive had a net margin of 14.38% and a return on equity of 477.77%. The company had revenue of $4.91 billion for the quarter, compared to analyst estimates of $4.92 billion. During the same quarter in the previous year, the firm posted $0.86 earnings per share. The company’s quarterly revenue was down 3.0% compared to the same quarter last year. Sell-side analysts forecast that Colgate-Palmolive will post 3.75 EPS for the current fiscal year.

Colgate-Palmolive announced that its board has approved a stock buyback program on Thursday, March 20th that authorizes the company to repurchase $5.00 billion in outstanding shares. This repurchase authorization authorizes the company to repurchase up to 6.8% of its shares through open market purchases. Shares repurchase programs are typically a sign that the company’s management believes its stock is undervalued.

Colgate-Palmolive Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, May 15th. Investors of record on Thursday, April 17th were given a dividend of $0.52 per share. The ex-dividend date of this dividend was Thursday, April 17th. This is a positive change from Colgate-Palmolive’s previous quarterly dividend of $0.50. This represents a $2.08 annualized dividend and a dividend yield of 2.24%. Colgate-Palmolive’s payout ratio is currently 58.76%.

Analysts Set New Price Targets

A number of analysts have recently weighed in on CL shares. Barclays lowered their target price on Colgate-Palmolive from $89.00 to $86.00 and set an “equal weight” rating for the company in a research note on Friday, April 11th. Stifel Nicolaus reduced their price objective on Colgate-Palmolive from $95.00 to $93.00 and set a “hold” rating for the company in a research report on Monday, February 3rd. Royal Bank of Canada reiterated a “sector perform” rating and issued a $101.00 price target on shares of Colgate-Palmolive in a research note on Wednesday, January 29th. Wells Fargo & Company upped their price objective on Colgate-Palmolive from $83.00 to $88.00 and gave the stock an “underweight” rating in a research note on Wednesday, April 2nd. Finally, Citigroup lifted their price target on Colgate-Palmolive from $103.00 to $108.00 and gave the stock a “buy” rating in a report on Monday, April 28th. One equities research analyst has rated the stock with a sell rating, ten have assigned a hold rating and ten have assigned a buy rating to the stock. Based on data from MarketBeat.com, Colgate-Palmolive has a consensus rating of “Hold” and a consensus price target of $102.12.

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.