Colgate-Palmolive (NYSE:CL) Stock Holdings Lowered by California State Teachers Retirement System
California State Teachers Retirement System reduced its stake in Colgate-Palmolive (NYSE:CL) by 0.6% in Q4, now holding 1,309,204 shares valued at $119 million. Other institutional investors, including Vanguard and Geode Capital, also adjusted their positions. Analysts have mixed ratings on the stock, with a consensus target price of $102.39. Colgate-Palmolive's shares are currently down 3.1%, trading at $90.99, with a market cap of $73.80 billion. The company recently announced a $5 billion stock buyback plan and increased its quarterly dividend.
California State Teachers Retirement System decreased its position in Colgate-Palmolive (NYSE:CL - Free Report) by 0.6% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 1,309,204 shares of the company's stock after selling 8,352 shares during the period. California State Teachers Retirement System owned approximately 0.16% of Colgate-Palmolive worth $119,020,000 as of its most recent SEC filing.
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A number of other hedge funds also recently made changes to their positions in CL. Vanguard Group Inc. raised its holdings in Colgate-Palmolive by 0.7% during the fourth quarter. Vanguard Group Inc. now owns 81,303,059 shares of the company's stock worth $7,391,261,000 after purchasing an additional 588,230 shares in the last quarter. Geode Capital Management LLC grew its position in Colgate-Palmolive by 1.6% in the fourth quarter. Geode Capital Management LLC now owns 20,518,014 shares of the company's stock worth $1,868,723,000 after buying an additional 324,683 shares during the last quarter. Norges Bank purchased a new position in Colgate-Palmolive in the 4th quarter worth about $912,375,000. Northern Trust Corp raised its holdings in Colgate-Palmolive by 11.7% during the 4th quarter. Northern Trust Corp now owns 9,497,819 shares of the company's stock worth $863,447,000 after buying an additional 993,328 shares during the period. Finally, Amundi lifted its stake in Colgate-Palmolive by 12.8% during the fourth quarter. Amundi now owns 9,200,144 shares of the company's stock valued at $806,015,000 after buying an additional 1,040,604 shares in the last quarter. Institutional investors own 80.41% of the company's stock.
Wall Street Analysts Forecast Growth
A number of research firms have recently issued reports on CL. JPMorgan Chase & Co. boosted their price target on shares of Colgate-Palmolive from $95.00 to $103.00 and gave the company an "overweight" rating in a report on Monday. Piper Sandler reduced their target price on Colgate-Palmolive from $108.00 to $107.00 and set an "overweight" rating for the company in a report on Monday, March 31st. Stifel Nicolaus lowered their price target on Colgate-Palmolive from $95.00 to $93.00 and set a "hold" rating on the stock in a report on Monday, February 3rd. Raymond James reissued an "outperform" rating and set a $105.00 price target (down from $110.00) on shares of Colgate-Palmolive in a research report on Monday, February 3rd. Finally, StockNews.com cut Colgate-Palmolive from a "buy" rating to a "hold" rating in a research note on Wednesday, April 16th. One equities research analyst has rated the stock with a sell rating, ten have given a hold rating and eleven have issued a buy rating to the company. According to MarketBeat, Colgate-Palmolive has an average rating of "Hold" and a consensus target price of $102.39.
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Colgate-Palmolive Stock Down 3.1 %
Shares of CL opened at $90.99 on Tuesday. Colgate-Palmolive has a 52 week low of $85.32 and a 52 week high of $109.30. The firm has a market capitalization of $73.80 billion, a P/E ratio of 25.85, a P/E/G ratio of 4.20 and a beta of 0.40. The company has a 50-day simple moving average of $92.14 and a 200-day simple moving average of $92.05. The company has a debt-to-equity ratio of 13.40, a quick ratio of 0.58 and a current ratio of 0.92.
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Colgate-Palmolive (NYSE:CL - Get Free Report) last issued its earnings results on Friday, April 25th. The company reported $0.91 EPS for the quarter, beating analysts' consensus estimates of $0.86 by $0.05. The business had revenue of $4.91 billion during the quarter, compared to analyst estimates of $4.92 billion. Colgate-Palmolive had a return on equity of 477.77% and a net margin of 14.38%. Colgate-Palmolive's revenue was down 3.0% on a year-over-year basis. During the same period in the prior year, the company posted $0.86 earnings per share. On average, equities research analysts expect that Colgate-Palmolive will post 3.75 earnings per share for the current year.
Colgate-Palmolive announced that its Board of Directors has approved a stock buyback plan on Thursday, March 20th that authorizes the company to repurchase $5.00 billion in outstanding shares. This repurchase authorization authorizes the company to reacquire up to 6.8% of its shares through open market purchases. Shares repurchase plans are often an indication that the company's board of directors believes its shares are undervalued.
Colgate-Palmolive Increases Dividend
The firm also recently declared a quarterly dividend, which will be paid on Thursday, May 15th. Shareholders of record on Thursday, April 17th will be paid a dividend of $0.52 per share. This is a boost from Colgate-Palmolive's previous quarterly dividend of $0.50. The ex-dividend date is Thursday, April 17th. This represents a $2.08 dividend on an annualized basis and a yield of 2.29%. Colgate-Palmolive's dividend payout ratio (DPR) is currently 59.09%.
Colgate-Palmolive Profile
(Free Report)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.
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