Fmr LLC Trims Stake in Colgate-Palmolive (NYSE:CL)

FMR LLC cut its holdings in shares of Colgate-Palmolive (NYSE:CL - Free Report) by 60.6% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 2,660,006 shares of the company's stock after selling 4,089,269 shares during the period. FMR LLC owned approximately 0.33% of Colgate-Palmolive worth $241,821,000 at the end of the most recent reporting period.

Other large investors also recently bought and sold shares of the company. Vanguard Group Inc. raised its position in Colgate-Palmolive by 0.7% in the fourth quarter. Vanguard Group Inc. now owns 81,303,059 shares of the company's stock worth $7,391,261,000 after acquiring an additional 588,230 shares during the period. Geode Capital Management LLC raised its holdings in Colgate-Palmolive by 1.6% in the 4th quarter. Geode Capital Management LLC now owns 20,518,014 shares of the company's stock worth $1,868,723,000 after purchasing an additional 324,683 shares during the period. Norges Bank bought a new stake in Colgate-Palmolive during the fourth quarter valued at about $912,375,000. Amundi increased its position in Colgate-Palmolive by 12.8% in the fourth quarter. Amundi now owns 9,200,144 shares of the company's stock worth $806,015,000 after buying an additional 1,040,604 shares in the last quarter. Finally, Barclays PLC raised its stake in shares of Colgate-Palmolive by 38.7% in the third quarter. Barclays PLC now owns 7,644,189 shares of the company's stock worth $793,542,000 after buying an additional 2,132,747 shares during the period. 80.41% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on the stock. 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 report on Monday, February 3rd. Raymond James reiterated an "outperform" rating and issued a $105.00 price target (down previously from $110.00) on shares of Colgate-Palmolive in a research note on Monday, February 3rd. TD Cowen lowered their price objective on Colgate-Palmolive from $110.00 to $100.00 and set a "buy" rating on the stock in a research report on Wednesday, January 8th. Morgan Stanley cut their target price on Colgate-Palmolive from $111.00 to $104.00 and set an "overweight" rating for the company in a research report on Monday, February 3rd. Finally, Wells Fargo & Company upped their price target on Colgate-Palmolive from $83.00 to $88.00 and gave the stock an "underweight" rating in a research note on Wednesday, April 2nd. One equities research analyst has rated the stock with a sell rating, nine have given a hold rating and twelve have issued a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $101.67.

Remove Ads

Colgate-Palmolive Trading Down 0.7 %

NYSE CL traded down $0.67 on Tuesday, hitting $94.31. 3,874,783 shares of the stock were exchanged, compared to its average volume of 4,575,827. 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 52-week low of $85.32 and a 52-week high of $109.30. The firm has a market capitalization of $76.49 billion, a P/E ratio of 26.79, a P/E/G ratio of 4.20 and a beta of 0.40. The stock has a fifty day moving average price of $90.65 and a two-hundred day moving average price of $92.51.

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 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 period last year, the company posted $0.87 EPS. Research analysts forecast that Colgate-Palmolive will post 3.75 EPS for the current fiscal year.

Colgate-Palmolive declared that its board has approved a share 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 purchase up to 6.8% of its stock through open market purchases. Stock repurchase programs are usually an indication that the company's management believes its stock is undervalued.

Colgate-Palmolive Increases Dividend

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

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.