Dynamic Technology Lab Private Ltd Sells 39,883 Shares of Colgate-Palmolive (NYSE:CL)

Dynamic Technology Lab Private Ltd lessened its holdings in shares of Colgate-Palmolive (NYSE:CL - Free Report) by 94.6% in the fourth quarter, according to its most recent filing with the SEC. The firm owned 2,283 shares of the company's stock after selling 39,883 shares during the quarter. Dynamic Technology Lab Private Ltd's holdings in Colgate-Palmolive were worth $208,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently modified their holdings of the business. Norges Bank acquired a new position in Colgate-Palmolive during the fourth quarter worth about $912,375,000. Diamond Hill Capital Management Inc. bought a new stake in Colgate-Palmolive during the fourth quarter worth approximately $348,718,000. AMF Tjanstepension AB increased its holdings in shares of Colgate-Palmolive by 1,088.8% in the fourth quarter. AMF Tjanstepension AB now owns 2,569,394 shares of the company's stock valued at $233,584,000 after buying an additional 2,353,268 shares in the last quarter. Barclays PLC boosted its stake in shares of Colgate-Palmolive by 38.7% during the 3rd quarter. Barclays PLC now owns 7,644,189 shares of the company's stock worth $793,542,000 after acquiring an additional 2,132,747 shares in the last quarter. Finally, Raymond James Financial Inc. acquired a new stake in shares of Colgate-Palmolive during the fourth quarter worth $132,405,000. Institutional investors own 80.41% of the company's stock.

Colgate-Palmolive Stock Performance

Shares of NYSE CL traded down $0.67 during mid-day trading on Tuesday, hitting $94.31. The company had a trading volume of 3,874,783 shares, compared to its average volume of 4,575,827. The business's 50-day simple moving average is $90.65 and its 200-day simple moving average is $92.51. The company has a debt-to-equity ratio of 13.40, a current ratio of 0.92 and a quick ratio of 0.58. The firm has a market cap of $76.49 billion, a P/E ratio of 26.79, a PEG ratio of 4.20 and a beta of 0.40. Colgate-Palmolive has a 12 month low of $85.32 and a 12 month high of $109.30.

Remove Ads

Colgate-Palmolive (NYSE:CL - Get Free Report) last issued its earnings results on Friday, January 31st. The company reported $0.91 EPS 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 period in the previous year, the company earned $0.87 earnings per share. As a group, analysts predict that Colgate-Palmolive will post 3.75 earnings per share for the current fiscal year.

Colgate-Palmolive declared that its Board of Directors has initiated a share buyback plan on Thursday, March 20th that authorizes the company to buyback $5.00 billion in shares. This buyback authorization authorizes the company to repurchase up to 6.8% of its shares through open market purchases. Shares buyback plans are typically an indication that the company's board believes its shares are undervalued.

Colgate-Palmolive Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, May 15th. Stockholders of record on Thursday, April 17th will be issued a $0.52 dividend. The ex-dividend date is Thursday, April 17th. This is a boost from Colgate-Palmolive's previous quarterly dividend of $0.50. This represents a $2.08 dividend on an annualized basis and a dividend yield of 2.21%. Colgate-Palmolive's dividend payout ratio is presently 59.09%.

Wall Street Analysts Forecast Growth

A number of research firms have commented on CL. Morgan Stanley reduced their price objective on shares of Colgate-Palmolive from $111.00 to $104.00 and set an "overweight" rating for the company in a research note on Monday, February 3rd. Stifel Nicolaus dropped their price target on Colgate-Palmolive from $95.00 to $93.00 and set a "hold" rating on the stock in a research report on Monday, February 3rd. StockNews.com raised Colgate-Palmolive from a "hold" rating to a "buy" rating in a research note on Friday, April 4th. JPMorgan Chase & Co. decreased their price target on shares of Colgate-Palmolive from $99.00 to $95.00 and set an "overweight" rating for the company in a report on Friday. Finally, Barclays decreased their target price on shares of Colgate-Palmolive from $89.00 to $86.00 and set an "equal weight" rating for the company in a research note on Friday. One equities research analyst has rated the stock with a sell rating, nine have issued a hold rating and twelve have assigned a buy rating to the company's stock. According to MarketBeat, Colgate-Palmolive has an average rating of "Moderate Buy" and an average target price of $101.67.

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.