Sei Investments Co. Sells 81,182 Shares of Colgate-Palmolive (NYSE:CL)

Sei Investments Co. decreased its stake in shares of Colgate-Palmolive (NYSE:CL - Free Report) by 10.7% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 676,173 shares of the company's stock after selling 81,182 shares during the quarter. Sei Investments Co. owned about 0.08% of Colgate-Palmolive worth $61,472,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds also recently modified their holdings of the company. Diamond Hill Capital Management Inc. acquired a new stake in Colgate-Palmolive in the fourth quarter valued at approximately $348,718,000. FMR LLC raised its position in shares of Colgate-Palmolive by 65.6% during the third quarter. FMR LLC now owns 6,749,275 shares of the company's stock worth $700,642,000 after purchasing an additional 2,674,807 shares during the period. AMF Tjanstepension AB lifted its holdings in shares of Colgate-Palmolive by 1,088.8% in the 4th quarter. AMF Tjanstepension AB now owns 2,569,394 shares of the company's stock worth $233,584,000 after purchasing an additional 2,353,268 shares in the last quarter. Barclays PLC grew its position in 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 purchasing an additional 2,132,747 shares during the period. Finally, State Street Corp increased its stake in Colgate-Palmolive by 3.8% during the 3rd quarter. State Street Corp now owns 48,436,276 shares of the company's stock valued at $5,028,170,000 after purchasing an additional 1,784,411 shares in the last quarter. Institutional investors own 80.41% of the company's stock.

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Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on the stock. Stifel Nicolaus dropped 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 note on Monday, February 3rd. UBS Group dropped their price target on shares of Colgate-Palmolive from $104.00 to $100.00 and set a "buy" rating on the stock in a research report on Monday, February 3rd. 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. TD Cowen dropped their target price on Colgate-Palmolive from $110.00 to $100.00 and set a "buy" rating on the stock in a report on Wednesday, January 8th. Finally, Morgan Stanley decreased their price target on Colgate-Palmolive from $111.00 to $104.00 and set an "overweight" rating for the company in a report on Monday, February 3rd. 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 stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and an average target price of $102.06.

Colgate-Palmolive Stock Performance

CL stock traded up $1.22 during midday trading on Thursday, reaching $93.25. 2,956,466 shares of the company's stock traded hands, compared to its average volume of 4,234,304. The firm has a market capitalization of $75.68 billion, a PE ratio of 26.49, a price-to-earnings-growth ratio of 4.20 and a beta of 0.40. The company has a 50-day moving average price of $89.52 and a two-hundred day moving average price of $93.81. Colgate-Palmolive has a 52 week low of $85.32 and a 52 week high of $109.30. 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 (NYSE:CL - Get Free Report) last posted its earnings results 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 last year, the firm posted $0.87 earnings per share. As a group, equities analysts anticipate that Colgate-Palmolive will post 3.75 EPS for the current 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 given a $0.52 dividend. This represents a $2.08 dividend on an annualized basis and a dividend yield of 2.23%. The ex-dividend date of this dividend is Thursday, April 17th. This is an increase from Colgate-Palmolive's previous quarterly dividend of $0.50. Colgate-Palmolive's dividend payout ratio (DPR) is 59.09%.

Colgate-Palmolive declared that its board has approved a stock buyback program on Thursday, March 20th that allows the company to buyback $5.00 billion in shares. This buyback authorization allows the company to purchase up to 6.8% of its stock through open market purchases. Stock buyback programs are typically an indication that the company's leadership believes its shares are undervalued.

Colgate-Palmolive Company Profile

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.