West Tower Group LLC Takes Position in Colgate-Palmolive (NYSE:CL)

West Tower Group LLC acquired a new position in shares of Colgate-Palmolive (NYSE:CL - Free Report) in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm acquired 5,300 shares of the company's stock, valued at approximately $482,000. Colgate-Palmolive accounts for about 1.1% of West Tower Group LLC's holdings, making the stock its 23rd biggest position.

A number of other large investors have also bought and sold shares of the stock. Enhancing Capital LLC bought a new position in Colgate-Palmolive in the 4th quarter valued at $364,000. Intech Investment Management LLC increased its holdings in Colgate-Palmolive by 312.0% during the fourth quarter. Intech Investment Management LLC now owns 545,551 shares of the company's stock worth $49,596,000 after buying an additional 413,134 shares during the last quarter. Generali Asset Management SPA SGR bought a new stake in Colgate-Palmolive in the fourth quarter worth about $8,105,000. Mirova US LLC boosted its stake in Colgate-Palmolive by 16.3% in the fourth quarter. Mirova US LLC now owns 11,849 shares of the company's stock valued at $1,077,000 after acquiring an additional 1,659 shares during the last quarter. Finally, Horizon Investments LLC grew its position in shares of Colgate-Palmolive by 1.3% during the 4th quarter. Horizon Investments LLC now owns 12,390 shares of the company's stock valued at $1,120,000 after acquiring an additional 165 shares during the period. 80.41% of the stock is currently owned by institutional investors and hedge funds.

Colgate-Palmolive Stock Performance

CL stock traded up $0.02 during trading on Friday, reaching $90.30. The stock had a trading volume of 8,950,637 shares, compared to its average volume of 4,226,202. The stock's 50 day moving average is $89.33 and its two-hundred day moving average is $94.18. The firm has a market cap of $73.28 billion, a PE ratio of 25.65, a PEG ratio of 4.20 and a beta of 0.40. Colgate-Palmolive has a 52 week low of $85.32 and a 52 week high of $109.30. The company has a current ratio of 0.92, a quick ratio of 0.58 and a debt-to-equity ratio of 13.40.

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Colgate-Palmolive (NYSE:CL - Get Free Report) last posted its quarterly earnings data on Friday, January 31st. The company reported $0.91 earnings per share (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 period in the prior year, the business earned $0.87 EPS. As a group, equities analysts anticipate that Colgate-Palmolive will post 3.75 earnings per share for the current year.

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

Colgate-Palmolive Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, May 15th. Investors of record on Thursday, April 17th will be given a dividend of $0.52 per share. The ex-dividend date is Thursday, April 17th. This is an increase from Colgate-Palmolive's previous quarterly dividend of $0.50. This represents a $2.08 annualized dividend and a yield of 2.30%. Colgate-Palmolive's payout ratio is 56.82%.

Analyst Upgrades and Downgrades

CL has been the topic of several research reports. Royal Bank of Canada restated a "sector perform" rating and issued a $101.00 target price on shares of Colgate-Palmolive in a research note on Wednesday, January 29th. TD Cowen lowered their target price on shares of Colgate-Palmolive from $110.00 to $100.00 and set a "buy" rating on the stock in a research note on Wednesday, January 8th. Morgan Stanley reduced their price target on shares of Colgate-Palmolive from $111.00 to $104.00 and set an "overweight" rating for the company in a research report on Monday, February 3rd. JPMorgan Chase & Co. increased their price objective on Colgate-Palmolive from $97.00 to $99.00 and gave the stock an "overweight" rating in a research report on Friday, March 14th. Finally, Piper Sandler reduced their target price on Colgate-Palmolive from $121.00 to $112.00 and set an "overweight" rating for the company in a research report on Monday, January 6th. One analyst has rated the stock with a sell rating, ten have issued a hold rating and eleven have assigned a buy rating to the company's stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Hold" and a consensus target price of $101.72.

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.