Allstate Corp Buys Shares of 22,959 Colgate-Palmolive (NYSE:CL)

Allstate Corp bought a new position in Colgate-Palmolive (NYSE:CL - Free Report) in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The firm bought 22,959 shares of the company's stock, valued at approximately $2,087,000.

Other hedge funds also recently bought and sold shares of the company. Axxcess Wealth Management LLC boosted its position in shares of Colgate-Palmolive by 0.3% in the 4th quarter. Axxcess Wealth Management LLC now owns 38,786 shares of the company's stock valued at $3,526,000 after purchasing an additional 117 shares during the period. Commonwealth Financial Services LLC raised its position in Colgate-Palmolive by 4.5% during the 4th quarter. Commonwealth Financial Services LLC now owns 2,716 shares of the company's stock worth $247,000 after buying an additional 118 shares during the last quarter. D Orazio & Associates Inc. lifted its position in Colgate-Palmolive by 4.2% in the fourth quarter. D Orazio & Associates Inc. now owns 2,982 shares of the company's stock valued at $271,000 after purchasing an additional 120 shares during the period. Lantz Financial LLC boosted its stake in shares of Colgate-Palmolive by 0.6% in the fourth quarter. Lantz Financial LLC now owns 20,140 shares of the company's stock valued at $1,831,000 after buying an additional 122 shares in the last quarter. Finally, Pine Haven Investment Counsel Inc grew its stake in shares of Colgate-Palmolive by 1.0% during the 4th quarter. Pine Haven Investment Counsel Inc now owns 13,006 shares of the company's stock worth $1,182,000 after purchasing an additional 130 shares during the period. Hedge funds and other institutional investors own 80.41% of the company's stock.

Colgate-Palmolive Stock Up 3.1 %

CL stock traded up $2.90 during midday trading on Thursday, hitting $96.45. The company's stock had a trading volume of 1,901,683 shares, compared to its average volume of 4,498,459. The stock has a market capitalization of $78.23 billion, a P/E ratio of 27.40, a PEG ratio of 4.20 and a beta of 0.40. The company's fifty day moving average price is $90.03 and its 200 day moving average price is $93.36. The company has a debt-to-equity ratio of 13.40, a current ratio of 0.92 and a quick ratio of 0.58. Colgate-Palmolive has a twelve month low of $85.32 and a twelve month high of $109.30.

Colgate-Palmolive (NYSE:CL - Get Free Report) last posted its earnings results on Friday, January 31st. The company reported $0.91 earnings per share for the quarter, topping analysts' consensus estimates of $0.90 by $0.01. Colgate-Palmolive had a return on equity of 477.77% and a net margin of 14.38%. During the same quarter last year, the firm posted $0.87 EPS. As a group, equities research analysts predict that Colgate-Palmolive will post 3.75 EPS for the current year.

Colgate-Palmolive declared that its Board of Directors has approved a stock repurchase plan on Thursday, March 20th that permits the company to repurchase $5.00 billion in shares. This repurchase authorization permits the company to purchase up to 6.8% of its stock through open market purchases. Stock repurchase plans are often a sign that the company's management believes its shares are undervalued.

Colgate-Palmolive Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, May 15th. Shareholders of record on Thursday, April 17th will be issued a $0.52 dividend. The ex-dividend date of this dividend is Thursday, April 17th. This represents a $2.08 dividend on an annualized basis and a yield of 2.16%. This is an increase from Colgate-Palmolive's previous quarterly dividend of $0.50. Colgate-Palmolive's payout ratio is currently 59.09%.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on CL. Raymond James restated an "outperform" rating and set a $105.00 target price (down from $110.00) on shares of Colgate-Palmolive in a report on Monday, February 3rd. Morgan Stanley lowered their target price on shares of Colgate-Palmolive from $111.00 to $104.00 and set an "overweight" rating for the company in a research note on Monday, February 3rd. Barclays increased their target price on Colgate-Palmolive from $83.00 to $89.00 and gave the stock an "equal weight" rating in a research report on Thursday, March 27th. Piper Sandler decreased their price target on shares of Colgate-Palmolive from $108.00 to $107.00 and set an "overweight" rating on the stock in a report on Monday. Finally, Stifel Nicolaus cut their price target on shares of Colgate-Palmolive from $95.00 to $93.00 and set a "hold" rating on the stock in a report on Monday, February 3rd. One investment analyst has rated the stock with a sell rating, ten have issued a hold rating and eleven have issued a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of "Hold" and a consensus price target of $102.06.

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.