Advisors Asset Management Inc. Boosts Stake in Colgate-Palmolive (NYSE:CL)

Advisors Asset Management Inc. grew its holdings in shares of Colgate-Palmolive (NYSE:CL - Free Report) by 22.1% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 78,474 shares of the company's stock after buying an additional 14,210 shares during the quarter. Advisors Asset Management Inc.'s holdings in Colgate-Palmolive were worth $7,134,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently made changes to their positions in CL. State Street Corp raised its position in Colgate-Palmolive by 3.8% in the 3rd quarter. State Street Corp now owns 48,436,276 shares of the company's stock valued at $5,028,170,000 after buying an additional 1,784,411 shares during the last quarter. Geode Capital Management LLC raised its holdings in shares of Colgate-Palmolive by 2.8% in the third quarter. Geode Capital Management LLC now owns 20,193,331 shares of the company's stock valued at $2,095,325,000 after purchasing an additional 552,949 shares during the last quarter. Massachusetts Financial Services Co. MA lifted its position in shares of Colgate-Palmolive by 6.2% during the third quarter. Massachusetts Financial Services Co. MA now owns 9,526,990 shares of the company's stock valued at $988,997,000 after purchasing an additional 557,492 shares in the last quarter. Amundi lifted its position in shares of 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 purchasing an additional 1,040,604 shares in the last quarter. Finally, Barclays PLC boosted its holdings in Colgate-Palmolive by 38.7% during the third quarter. Barclays PLC now owns 7,644,189 shares of the company's stock worth $793,542,000 after purchasing an additional 2,132,747 shares during the last quarter. 80.41% of the stock is owned by institutional investors.

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Analyst Ratings Changes

Several equities analysts have commented on the stock. Morgan Stanley dropped their target price on shares of Colgate-Palmolive from $111.00 to $104.00 and set an "overweight" rating on the stock in a research report on Monday, February 3rd. StockNews.com lowered Colgate-Palmolive from a "buy" rating to a "hold" rating in a report on Friday, March 14th. Wells Fargo & Company reduced their price objective on Colgate-Palmolive from $92.00 to $83.00 and set an "underweight" rating for the company in a research note on Tuesday, January 7th. Raymond James reiterated an "outperform" rating and set a $105.00 target price (down from $110.00) on shares of Colgate-Palmolive in a research note on Monday, February 3rd. Finally, Piper Sandler reduced their price target on shares of 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 equities research analyst has rated the stock with a sell rating, ten have assigned a hold rating and eleven have given a buy rating to the company's stock. According to data from MarketBeat.com, the stock currently has an average rating of "Hold" and an average price target of $101.72.

Colgate-Palmolive Price Performance

CL traded up $0.02 during trading on Friday, reaching $90.30. 8,950,637 shares of the company were exchanged, compared to its average volume of 4,226,202. Colgate-Palmolive has a 12-month low of $85.32 and a 12-month high of $109.30. The company's 50-day moving average is $89.33 and its two-hundred day moving average is $94.18. 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 company has a market cap of $73.28 billion, a price-to-earnings ratio of 25.65, a P/E/G ratio of 4.20 and a beta of 0.40.

Colgate-Palmolive (NYSE:CL - Get Free Report) last announced its quarterly earnings results 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. Research analysts forecast that Colgate-Palmolive will post 3.75 earnings per share for the current fiscal year.

Colgate-Palmolive declared that its Board of Directors has authorized a share repurchase program on Thursday, March 20th that allows the company to repurchase $5.00 billion in outstanding shares. This repurchase authorization allows the company to purchase up to 6.8% of its stock through open market purchases. Stock repurchase programs are generally a sign that the company's leadership believes its shares are undervalued.

Colgate-Palmolive Increases Dividend

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

About Colgate-Palmolive

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.