Teacher Retirement System of Texas Buys 201,274 Shares of Colgate-Palmolive (NYSE:CL)

Teacher Retirement System of Texas lifted its stake in Colgate-Palmolive (NYSE:CL - Free Report) by 23.9% in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 1,041,938 shares of the company's stock after buying an additional 201,274 shares during the period. Teacher Retirement System of Texas owned about 0.13% of Colgate-Palmolive worth $94,723,000 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. Chicago Partners Investment Group LLC lifted its position in shares of Colgate-Palmolive by 16.2% in the 4th quarter. Chicago Partners Investment Group LLC now owns 6,752 shares of the company's stock worth $591,000 after acquiring an additional 943 shares during the period. Peak Financial Advisors LLC bought a new position in Colgate-Palmolive in the fourth quarter worth $1,315,000. Fiduciary Alliance LLC acquired a new stake in Colgate-Palmolive during the fourth quarter worth $4,066,000. Impact Partnership Wealth LLC bought a new stake in Colgate-Palmolive in the 4th quarter valued at $803,000. Finally, Barclays PLC raised its stake in shares of Colgate-Palmolive by 38.7% in the 3rd quarter. Barclays PLC now owns 7,644,189 shares of the company's stock valued at $793,542,000 after buying an additional 2,132,747 shares in the last quarter. 80.41% of the stock is owned by institutional investors and hedge funds.

Colgate-Palmolive Trading Up 0.7 %

Shares of CL stock traded up $0.61 on Monday, reaching $90.91. 4,611,072 shares of the stock were exchanged, compared to its average volume of 4,227,739. 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 one year low of $85.32 and a one year high of $109.30. The stock has a market cap of $73.78 billion, a PE ratio of 25.83, a P/E/G ratio of 4.20 and a beta of 0.40. The stock has a 50 day moving average price of $89.33 and a 200 day moving average price of $94.07.

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Colgate-Palmolive (NYSE:CL - Get Free Report) last announced its quarterly earnings data on Friday, January 31st. The company reported $0.91 earnings per share for the quarter, topping the consensus estimate 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 previous year, the company posted $0.87 earnings per share. Equities research analysts forecast that Colgate-Palmolive will post 3.75 EPS for the current fiscal year.

Colgate-Palmolive Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, May 15th. Investors of record on Thursday, April 17th will be issued a $0.52 dividend. This is a positive change from Colgate-Palmolive's previous quarterly dividend of $0.50. This represents a $2.08 annualized dividend and a yield of 2.29%. The ex-dividend date of this dividend is Thursday, April 17th. Colgate-Palmolive's dividend payout ratio is currently 56.82%.

Colgate-Palmolive announced that its Board of Directors has approved a stock repurchase plan on Thursday, March 20th that allows the company to buyback $5.00 billion in shares. This buyback authorization allows the company to reacquire up to 6.8% of its stock through open market purchases. Stock buyback plans are generally a sign that the company's board believes its stock is undervalued.

Wall Street Analysts Forecast Growth

A number of research firms recently weighed in on CL. Barclays lowered their target price on shares of Colgate-Palmolive from $96.00 to $83.00 and set an "equal weight" rating on the stock in a research note on Friday, January 17th. JPMorgan Chase & Co. raised their target price on Colgate-Palmolive from $97.00 to $99.00 and gave the stock an "overweight" rating in a research report on Friday, March 14th. Piper Sandler decreased their price target on Colgate-Palmolive from $121.00 to $112.00 and set an "overweight" rating on the stock in a research note on Monday, January 6th. UBS Group dropped their price objective on Colgate-Palmolive from $104.00 to $100.00 and set a "buy" rating for the company in a research note on Monday, February 3rd. Finally, Raymond James restated an "outperform" rating and issued a $105.00 target price (down previously from $110.00) on shares of Colgate-Palmolive in a research note on Monday, February 3rd. One investment analyst has rated the stock with a sell rating, ten have assigned a hold rating and eleven have given a buy rating to the company. Based on data from MarketBeat.com, Colgate-Palmolive presently has an average rating of "Hold" and a consensus target price of $101.72.

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.