Colgate-Palmolive (NYSE:CL) Stake Boosted by Sciencast Management LP

Sciencast Management LP grew its stake in Colgate-Palmolive (NYSE:CL - Free Report) by 769.1% during the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 33,503 shares of the company's stock after purchasing an additional 29,648 shares during the quarter. Colgate-Palmolive makes up about 0.8% of Sciencast Management LP's holdings, making the stock its 8th largest position. Sciencast Management LP's holdings in Colgate-Palmolive were worth $3,046,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also bought and sold shares of the stock. Kohmann Bosshard Financial Services LLC bought a new position in shares of Colgate-Palmolive in the fourth quarter valued at approximately $26,000. Centricity Wealth Management LLC bought a new position in Colgate-Palmolive in the 4th quarter valued at $27,000. Union Bancaire Privee UBP SA purchased a new stake in shares of Colgate-Palmolive during the 4th quarter valued at $32,000. Briaud Financial Planning Inc bought a new stake in shares of Colgate-Palmolive during the 4th quarter worth $32,000. Finally, Wintrust Investments LLC purchased a new position in shares of Colgate-Palmolive in the 4th quarter worth about $33,000. Institutional investors own 80.41% of the company's stock.

Wall Street Analysts Forecast Growth

Several analysts have commented on the stock. Stifel Nicolaus lowered their price objective on shares of Colgate-Palmolive from $95.00 to $93.00 and set a "hold" rating on the stock in a research report on Monday, February 3rd. Wells Fargo & Company lowered their price target on shares of Colgate-Palmolive from $92.00 to $83.00 and set an "underweight" rating on the stock in a report on Tuesday, January 7th. Royal Bank of Canada reissued a "sector perform" rating and set a $101.00 price objective on shares of Colgate-Palmolive in a report on Wednesday, January 29th. Morgan Stanley lowered their target price on Colgate-Palmolive from $111.00 to $104.00 and set an "overweight" rating on the stock in a research note on Monday, February 3rd. Finally, Piper Sandler cut their price target on Colgate-Palmolive from $121.00 to $112.00 and set an "overweight" rating for the company in a research note on Monday, January 6th. One research analyst has rated the stock with a sell rating, ten have assigned a hold rating and eleven have assigned a buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of "Hold" and a consensus price target of $101.72.

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Colgate-Palmolive Price Performance

Shares of NYSE CL traded up $2.46 during mid-day trading on Wednesday, reaching $92.05. 4,700,411 shares of the company were exchanged, compared to its average volume of 4,234,850. Colgate-Palmolive has a 52 week low of $85.32 and a 52 week high of $109.30. The company's 50 day moving average price is $89.44 and its 200 day moving average price is $93.82. The stock has a market capitalization of $74.70 billion, a PE ratio of 26.15, 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 (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, 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 quarter in the previous year, the business posted $0.87 EPS. Sell-side analysts forecast that Colgate-Palmolive will post 3.75 earnings per share for the current fiscal year.

Colgate-Palmolive announced that its board has initiated 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 repurchase up to 6.8% of its stock through open market purchases. Stock buyback plans are typically an indication that the company's leadership 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. The ex-dividend date is Thursday, April 17th. This represents a $2.08 annualized dividend and a dividend yield of 2.26%. This is a positive change from Colgate-Palmolive's previous quarterly dividend of $0.50. Colgate-Palmolive's dividend payout ratio (DPR) is currently 56.82%.

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.