Colgate-Palmolive (NYSE:CL) Position Reduced by GUARDCAP ASSET MANAGEMENT Ltd

GUARDCAP ASSET MANAGEMENT Ltd reduced its holdings in shares of Colgate-Palmolive (NYSE:CL - Free Report) by 15.0% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 4,741,723 shares of the company's stock after selling 833,835 shares during the quarter. Colgate-Palmolive makes up about 7.0% of GUARDCAP ASSET MANAGEMENT Ltd's holdings, making the stock its 6th largest position. GUARDCAP ASSET MANAGEMENT Ltd owned about 0.58% of Colgate-Palmolive worth $431,070,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also bought and sold shares of CL. Swedbank AB increased its stake in shares of Colgate-Palmolive by 1.4% during the 3rd quarter. Swedbank AB now owns 2,950,059 shares of the company's stock worth $306,246,000 after purchasing an additional 40,324 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. grew its holdings in Colgate-Palmolive by 36.9% during the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 14,689 shares of the company's stock valued at $1,525,000 after purchasing an additional 3,960 shares during the period. Pacer Advisors Inc. increased its position in Colgate-Palmolive by 18.8% in the third quarter. Pacer Advisors Inc. now owns 111,272 shares of the company's stock worth $11,551,000 after buying an additional 17,623 shares during the last quarter. Meridian Wealth Management LLC bought a new stake in shares of Colgate-Palmolive in the third quarter valued at $1,133,000. Finally, Great Valley Advisor Group Inc. lifted its position in shares of Colgate-Palmolive by 76.2% during the 3rd quarter. Great Valley Advisor Group Inc. now owns 14,387 shares of the company's stock valued at $1,494,000 after buying an additional 6,224 shares during the last quarter. Hedge funds and other institutional investors own 80.41% of the company's stock.

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Colgate-Palmolive Price Performance

Colgate-Palmolive stock traded up $1.22 during mid-day trading on Thursday, hitting $93.25. 2,956,466 shares of the company traded hands, compared to its average volume of 4,234,927. The company has a debt-to-equity ratio of 13.40, a quick ratio of 0.58 and a current ratio of 0.92. 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 $75.68 billion, a price-to-earnings ratio of 26.49, a price-to-earnings-growth ratio of 4.20 and a beta of 0.40. The stock has a fifty day moving average price of $89.62 and a 200-day moving average price of $93.80.

Colgate-Palmolive (NYSE:CL - Get Free Report) last posted its quarterly earnings data on Friday, January 31st. The company reported $0.91 earnings per share (EPS) for the quarter, topping 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 in the prior year, the company posted $0.87 earnings per share. On average, equities analysts predict that Colgate-Palmolive will post 3.75 earnings per share for the current fiscal year.

Colgate-Palmolive announced that its Board of Directors has initiated a stock buyback program on Thursday, March 20th that permits the company to repurchase $5.00 billion in shares. This repurchase authorization permits the company to buy up to 6.8% of its shares through open market purchases. Shares repurchase programs are usually an indication that the company's board of directors believes its shares are undervalued.

Colgate-Palmolive Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, May 15th. Stockholders of record on Thursday, April 17th will be given a dividend of $0.52 per share. The ex-dividend date of this dividend is Thursday, April 17th. This is a positive change from Colgate-Palmolive's previous quarterly dividend of $0.50. This represents a $2.08 annualized dividend and a dividend yield of 2.23%. Colgate-Palmolive's dividend payout ratio is 59.09%.

Analyst Ratings Changes

Several brokerages recently weighed in on CL. JPMorgan Chase & Co. lifted their price objective on Colgate-Palmolive from $97.00 to $99.00 and gave the stock an "overweight" rating in a report on Friday, March 14th. UBS Group reduced their target price on shares of Colgate-Palmolive from $104.00 to $100.00 and set a "buy" rating for the company in a research note on Monday, February 3rd. Wells Fargo & Company dropped their price target on shares of Colgate-Palmolive from $92.00 to $83.00 and set an "underweight" rating on the stock in a research note on Tuesday, January 7th. Piper Sandler reduced their price objective on shares of Colgate-Palmolive from $121.00 to $112.00 and set an "overweight" rating for the company in a research note on Monday, January 6th. Finally, Barclays boosted their target price on shares of Colgate-Palmolive from $83.00 to $89.00 and gave the company an "equal weight" rating in a report on Thursday. One research 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 data from MarketBeat.com, Colgate-Palmolive presently has a consensus rating of "Hold" and a consensus target price of $102.06.

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.