CenterBook Partners LP Sells 51,329 Shares of Colgate-Palmolive (NYSE:CL)

CenterBook Partners LP cut its stake in shares of Colgate-Palmolive (NYSE:CL - Free Report) by 82.9% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 10,616 shares of the company's stock after selling 51,329 shares during the period. CenterBook Partners LP's holdings in Colgate-Palmolive were worth $965,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in the stock. APG Asset Management N.V. lifted its position in Colgate-Palmolive by 65.6% in the 4th quarter. APG Asset Management N.V. now owns 1,364,701 shares of the company's stock valued at $119,812,000 after acquiring an additional 540,359 shares in the last quarter. Bernard Wealth Management Corp. bought a new stake in shares of Colgate-Palmolive in the fourth quarter valued at about $33,000. Abacus FCF Advisors LLC grew its holdings in shares of Colgate-Palmolive by 68.3% during the fourth quarter. Abacus FCF Advisors LLC now owns 97,421 shares of the company's stock worth $8,857,000 after buying an additional 39,530 shares in the last quarter. Capula Management Ltd acquired a new stake in Colgate-Palmolive in the 4th quarter valued at approximately $374,000. Finally, Renaissance Technologies LLC raised its position in Colgate-Palmolive by 70.2% in the 4th quarter. Renaissance Technologies LLC now owns 2,808,110 shares of the company's stock valued at $255,285,000 after buying an additional 1,158,060 shares during the last quarter. Institutional investors own 80.41% of the company's stock.

Colgate-Palmolive Price Performance

NYSE:CL traded down $0.67 on Tuesday, hitting $94.31. The company had a trading volume of 3,874,783 shares, compared to its average volume of 4,575,268. The firm has a 50 day moving average of $90.65 and a two-hundred day moving average of $92.51. The stock has a market capitalization of $76.49 billion, a price-to-earnings ratio of 26.79, 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.

Remove Ads

Colgate-Palmolive (NYSE:CL - Get Free Report) last announced 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 in the previous year, the business posted $0.87 earnings per share. On average, research analysts anticipate that Colgate-Palmolive will post 3.75 earnings per share for the current year.

Colgate-Palmolive announced that its board 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 purchase up to 6.8% of its stock through open market purchases. Stock buyback programs are often an indication that the company's board of directors 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 issued a dividend of $0.52 per share. This is a boost 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 is Thursday, April 17th. Colgate-Palmolive's payout ratio is 59.09%.

Analyst Ratings Changes

Several research firms have recently commented on CL. Piper Sandler cut their price objective on Colgate-Palmolive from $108.00 to $107.00 and set an "overweight" rating for the company in a report on Monday, March 31st. StockNews.com raised shares of Colgate-Palmolive from a "hold" rating to a "buy" rating in a report on Friday, April 4th. Wells Fargo & Company lifted their target price on Colgate-Palmolive from $83.00 to $88.00 and gave the stock an "underweight" rating in a research note on Wednesday, April 2nd. Raymond James reaffirmed an "outperform" rating and set a $105.00 price target (down previously from $110.00) on shares of Colgate-Palmolive in a report on Monday, February 3rd. Finally, Morgan Stanley dropped their price objective 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. One investment analyst has rated the stock with a sell rating, nine have given a hold rating and twelve have given a buy rating to the company's stock. Based on data from MarketBeat, Colgate-Palmolive presently has an average rating of "Moderate Buy" and a consensus price target of $101.67.

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.