Federated Hermes Inc. Purchases 56,776 Shares of Colgate-Palmolive (NYSE:CL)

Federated Hermes Inc. boosted its holdings in Colgate-Palmolive (NYSE:CL - Free Report) by 9.1% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 682,369 shares of the company's stock after purchasing an additional 56,776 shares during the period. Federated Hermes Inc. owned about 0.08% of Colgate-Palmolive worth $62,034,000 as of its most recent SEC filing.

Other large investors have also recently made changes to their positions in the company. Kohmann Bosshard Financial Services LLC bought a new position in Colgate-Palmolive during the fourth quarter valued at about $26,000. Centricity Wealth Management LLC purchased a new stake in shares of Colgate-Palmolive during the 4th quarter worth approximately $27,000. Union Bancaire Privee UBP SA bought a new stake in shares of Colgate-Palmolive in the 4th quarter worth approximately $32,000. Briaud Financial Planning Inc purchased a new position in Colgate-Palmolive in the fourth quarter valued at approximately $32,000. Finally, Wintrust Investments LLC bought a new position in Colgate-Palmolive during the fourth quarter valued at $33,000. 80.41% of the stock is owned by hedge funds and other institutional investors.

Colgate-Palmolive Price Performance

CL traded up $2.19 during trading on Friday, reaching $93.99. The stock had a trading volume of 5,664,216 shares, compared to its average volume of 4,587,585. The company has a debt-to-equity ratio of 13.40, a quick ratio of 0.58 and a current ratio of 0.92. The business has a 50-day moving average of $90.48 and a 200-day moving average of $92.65. 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 $76.24 billion, a PE ratio of 26.70, a PEG ratio of 4.20 and a beta of 0.40.

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

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

Colgate-Palmolive Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, May 15th. Shareholders of record on Thursday, April 17th will be paid a $0.52 dividend. The ex-dividend date is Thursday, April 17th. This is an increase from Colgate-Palmolive's previous quarterly dividend of $0.50. This represents a $2.08 annualized dividend and a yield of 2.21%. Colgate-Palmolive's payout ratio is currently 59.09%.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on the company. Raymond James reaffirmed an "outperform" rating and set a $105.00 price target (down previously from $110.00) on shares of Colgate-Palmolive in a research report on Monday, February 3rd. Piper Sandler dropped their price objective on shares of Colgate-Palmolive from $108.00 to $107.00 and set an "overweight" rating on the stock in a report on Monday, March 31st. Barclays lowered their price target on shares of Colgate-Palmolive from $89.00 to $86.00 and set an "equal weight" rating on the stock in a research report on Friday. TD Cowen cut their price objective on shares of Colgate-Palmolive from $110.00 to $100.00 and set a "buy" rating for the company in a report on Wednesday, January 8th. Finally, Stifel Nicolaus lowered their target price on shares of Colgate-Palmolive from $95.00 to $93.00 and set a "hold" rating on the stock in a report on Monday, February 3rd. One investment analyst has rated the stock with a sell rating, nine have assigned a hold rating and twelve have assigned a buy rating to the company. According to MarketBeat, Colgate-Palmolive currently has a consensus rating of "Moderate Buy" and a consensus target price of $101.67.

Colgate-Palmolive 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.