BI Asset Management Fondsmaeglerselskab A S Has $35.37 Million Stock Holdings in Colgate-Palmolive (NYSE:CL)

BI Asset Management Fondsmaeglerselskab A S lifted its holdings in shares of Colgate-Palmolive (NYSE:CL - Free Report) by 70.1% during the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 389,020 shares of the company's stock after purchasing an additional 160,340 shares during the period. BI Asset Management Fondsmaeglerselskab A S's holdings in Colgate-Palmolive were worth $35,366,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in CL. Kohmann Bosshard Financial Services LLC bought a new position in Colgate-Palmolive in the 4th quarter valued at $26,000. Centricity Wealth Management LLC bought a new position in Colgate-Palmolive in the fourth quarter valued at about $27,000. Union Bancaire Privee UBP SA acquired a new stake in Colgate-Palmolive in the fourth quarter worth about $32,000. Briaud Financial Planning Inc bought a new stake in Colgate-Palmolive during the 4th quarter worth about $32,000. Finally, Wintrust Investments LLC acquired a new position in Colgate-Palmolive during the 4th quarter valued at about $33,000. 80.41% of the stock is currently owned by institutional investors and hedge funds.

Colgate-Palmolive Stock Down 2.0 %

CL traded down $1.92 during trading on Wednesday, hitting $93.89. The company had a trading volume of 8,496,316 shares, compared to its average volume of 5,370,806. The company has a market capitalization of $76.15 billion, a PE ratio of 26.67, a PEG ratio of 4.20 and a beta of 0.40. The company has a quick ratio of 0.58, a current ratio of 0.92 and a debt-to-equity ratio of 13.40. Colgate-Palmolive has a one year low of $85.32 and a one year high of $109.30. The firm's 50-day moving average price is $91.63 and its 200 day moving average price is $92.30.

Colgate-Palmolive (NYSE:CL - Get Free Report) last issued its quarterly earnings results on Friday, January 31st. The company reported $0.91 EPS for the quarter, beating 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 period last year, the business earned $0.87 EPS. As a group, equities 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 repurchase program on Thursday, March 20th that allows the company to buyback $5.00 billion in outstanding shares. This buyback authorization allows the company to repurchase up to 6.8% of its shares through open market purchases. Shares buyback programs are generally a sign that the company's board of directors believes its stock is undervalued.

Colgate-Palmolive Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, May 15th. Investors of record on Thursday, April 17th will be issued 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 annualized dividend and a yield of 2.22%. Colgate-Palmolive's dividend payout ratio is presently 59.09%.

Analysts Set New Price Targets

CL has been the subject of several analyst reports. StockNews.com cut shares of Colgate-Palmolive from a "buy" rating to a "hold" rating in a research report on Wednesday, April 16th. Wells Fargo & Company upped their target price on shares of Colgate-Palmolive from $83.00 to $88.00 and gave the company an "underweight" rating in a research report on Wednesday, April 2nd. TD Cowen reduced their price target on Colgate-Palmolive from $110.00 to $100.00 and set a "buy" rating on the stock in a research report on Wednesday, January 8th. Raymond James reaffirmed an "outperform" rating and set a $105.00 price objective (down from $110.00) on shares of Colgate-Palmolive in a research note on Monday, February 3rd. Finally, Piper Sandler cut their target price on Colgate-Palmolive from $108.00 to $107.00 and set an "overweight" rating on the stock in a research note on Monday, March 31st. One analyst has rated the stock with a sell rating, ten have assigned a hold rating and eleven have issued a buy rating to the company's stock. According to MarketBeat.com, Colgate-Palmolive presently has a consensus rating of "Hold" and an average price target of $102.17.

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.