APG Asset Management N.V. Grows Stake in Colgate-Palmolive (NYSE:CL)

APG Asset Management N.V. increased its stake in Colgate-Palmolive (NYSE:CL - Free Report) by 65.6% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,364,701 shares of the company's stock after acquiring an additional 540,359 shares during the period. APG Asset Management N.V. owned approximately 0.17% of Colgate-Palmolive worth $119,812,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Norges Bank purchased a new stake in shares of Colgate-Palmolive during the fourth quarter worth approximately $912,375,000. Diamond Hill Capital Management Inc. purchased a new stake in shares of Colgate-Palmolive in the 4th quarter valued at approximately $348,718,000. AMF Tjanstepension AB raised its holdings in shares of Colgate-Palmolive by 1,088.8% in the 4th quarter. AMF Tjanstepension AB now owns 2,569,394 shares of the company's stock valued at $233,584,000 after purchasing an additional 2,353,268 shares in the last quarter. Barclays PLC lifted its position in shares of Colgate-Palmolive by 38.7% during the 3rd 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. Finally, Raymond James Financial Inc. acquired a new position in shares of Colgate-Palmolive during the fourth quarter worth $132,405,000. 80.41% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on CL. Barclays decreased their price target on Colgate-Palmolive from $89.00 to $86.00 and set an "equal weight" rating for the company in a report on Friday. StockNews.com upgraded Colgate-Palmolive from a "hold" rating to a "buy" rating in a research note on Friday, April 4th. Raymond James reiterated an "outperform" rating and issued a $105.00 price target (down from $110.00) on shares of Colgate-Palmolive in a research note on Monday, February 3rd. Morgan Stanley cut their price objective on shares of Colgate-Palmolive from $111.00 to $104.00 and set an "overweight" rating on the stock in a report on Monday, February 3rd. Finally, JPMorgan Chase & Co. lowered their target price on shares of Colgate-Palmolive from $99.00 to $95.00 and set an "overweight" rating for the company in a report on Friday. One equities research analyst has rated the stock with a sell rating, nine have assigned a hold rating and twelve have issued a buy rating to the company. According to MarketBeat, Colgate-Palmolive presently has an average rating of "Moderate Buy" and an average price target of $101.67.

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Colgate-Palmolive Stock Performance

Shares of Colgate-Palmolive stock traded up $2.19 on Friday, reaching $93.99. 5,664,216 shares of the stock were exchanged, compared to its average volume of 4,587,585. The company has a current ratio of 0.92, a quick ratio of 0.58 and a debt-to-equity ratio of 13.40. The firm has a market capitalization of $76.24 billion, a PE ratio of 26.70, a PEG ratio of 4.20 and a beta of 0.40. Colgate-Palmolive has a 1-year low of $85.32 and a 1-year high of $109.30. The business has a fifty day moving average price of $90.48 and a two-hundred day moving average price of $92.65.

Colgate-Palmolive (NYSE:CL - Get Free Report) last issued its 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 return on equity of 477.77% and a net margin of 14.38%. During the same quarter in the prior year, the business posted $0.87 earnings per share. As a group, research analysts anticipate that Colgate-Palmolive will post 3.75 earnings per share for the current fiscal year.

Colgate-Palmolive Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, May 15th. Shareholders 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 annualized dividend and a dividend yield of 2.21%. The ex-dividend date of this dividend is Thursday, April 17th. Colgate-Palmolive's payout ratio is presently 59.09%.

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 shares. This repurchase authorization authorizes the company to reacquire up to 6.8% of its stock through open market purchases. Stock repurchase plans are usually a sign that the company's leadership believes its shares are undervalued.

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.