Colgate-Palmolive (NYSE:CL) Shares Acquired by Pinebridge Investments L.P.

Pinebridge Investments L.P. boosted its holdings in Colgate-Palmolive (NYSE:CL - Free Report) by 143.1% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 429,295 shares of the company's stock after buying an additional 252,684 shares during the period. Pinebridge Investments L.P. owned 0.05% of Colgate-Palmolive worth $39,027,000 at the end of the most recent reporting period.

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

Colgate-Palmolive Stock Up 1.1 %

Shares of Colgate-Palmolive stock opened at $95.76 on Wednesday. Colgate-Palmolive has a 12-month low of $85.32 and a 12-month high of $109.30. The firm has a market capitalization of $77.67 billion, a PE ratio of 27.20, a price-to-earnings-growth 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. The stock's fifty day moving average is $91.63 and its 200-day moving average is $92.30.

Colgate-Palmolive (NYSE:CL - Get Free Report) last posted its quarterly earnings data 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 net margin of 14.38% and a return on equity of 477.77%. During the same quarter last year, the firm earned $0.87 earnings per share. Equities analysts anticipate 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 buyback program on Thursday, March 20th that allows the company to repurchase $5.00 billion in shares. This repurchase authorization allows the company to buy up to 6.8% of its shares through open market purchases. Shares repurchase programs are typically an indication that the company's leadership believes its stock is undervalued.

Colgate-Palmolive Increases Dividend

The company also recently disclosed 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 represents a $2.08 annualized dividend and a yield of 2.17%. This is a boost from Colgate-Palmolive's previous quarterly dividend of $0.50. The ex-dividend date of this dividend is Thursday, April 17th. Colgate-Palmolive's payout ratio is presently 59.09%.

Wall Street Analysts Forecast Growth

Several research firms recently issued reports on CL. TD Cowen dropped 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. Stifel Nicolaus reduced their price objective on Colgate-Palmolive from $95.00 to $93.00 and set a "hold" rating for the company in a research report on Monday, February 3rd. JPMorgan Chase & Co. decreased their price target on Colgate-Palmolive from $99.00 to $95.00 and set an "overweight" rating for the company in a research note on Friday, April 11th. Barclays cut their price objective on shares of Colgate-Palmolive from $89.00 to $86.00 and set an "equal weight" rating on the stock in a research note on Friday, April 11th. Finally, Piper Sandler reduced their price target on shares of Colgate-Palmolive from $108.00 to $107.00 and set an "overweight" rating for the company in a research note on Monday, March 31st. 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 company. According to MarketBeat.com, the company presently has a consensus rating of "Hold" and a consensus price target of $102.17.

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.

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