Colgate-Palmolive (NYSE:CL) Stake Lowered by Franklin Resources Inc.

Franklin Resources Inc. cut its holdings in shares of Colgate-Palmolive (NYSE:CL - Free Report) by 2.8% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 4,630,554 shares of the company's stock after selling 132,507 shares during the quarter. Franklin Resources Inc. owned about 0.57% of Colgate-Palmolive worth $420,963,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also recently added to or reduced their stakes in CL. Chicago Partners Investment Group LLC raised its position in shares of Colgate-Palmolive by 16.2% in the 4th quarter. Chicago Partners Investment Group LLC now owns 6,752 shares of the company's stock worth $591,000 after buying an additional 943 shares during the period. Peak Financial Advisors LLC acquired a new stake in Colgate-Palmolive during the fourth quarter worth about $1,315,000. Fiduciary Alliance LLC purchased a new position in shares of Colgate-Palmolive in the 4th quarter worth about $4,066,000. Impact Partnership Wealth LLC purchased a new position in shares of Colgate-Palmolive in the 4th quarter worth about $803,000. Finally, Barclays PLC lifted its stake in shares of 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 in the last quarter. 80.41% of the stock is owned by institutional investors and hedge funds.

Colgate-Palmolive Stock Up 2.6 %

Shares of Colgate-Palmolive stock traded up $2.40 during trading on Thursday, reaching $95.95. The company had a trading volume of 5,483,288 shares, compared to its average volume of 4,511,906. The company has a market cap of $77.83 billion, a price-to-earnings ratio of 27.26, a price-to-earnings-growth ratio of 4.20 and a beta of 0.40. Colgate-Palmolive has a fifty-two week low of $85.32 and a fifty-two week high of $109.30. The firm's fifty day moving average is $90.03 and its 200-day moving average is $93.36. The company has a debt-to-equity ratio of 13.40, a quick ratio of 0.58 and a current ratio of 0.92.

Remove Ads

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

Colgate-Palmolive declared that its board has approved a stock buyback plan on Thursday, March 20th that allows the company to repurchase $5.00 billion in shares. This repurchase authorization allows the company to repurchase up to 6.8% of its shares through open market purchases. Shares repurchase plans are generally a sign that the company's board 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 issued a $0.52 dividend. This represents a $2.08 dividend on an annualized basis and a yield of 2.17%. 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 payout ratio is currently 59.09%.

Analyst Ratings Changes

Several research analysts recently commented on the stock. Raymond James restated an "outperform" rating and issued a $105.00 price target (down previously from $110.00) on shares of Colgate-Palmolive in a report on Monday, February 3rd. Morgan Stanley cut their target price on shares of Colgate-Palmolive from $111.00 to $104.00 and set an "overweight" rating on the stock in a research note on Monday, February 3rd. JPMorgan Chase & Co. upped their price target on shares of Colgate-Palmolive from $97.00 to $99.00 and gave the stock an "overweight" rating in a research report on Friday, March 14th. Royal Bank of Canada reissued a "sector perform" rating and issued a $101.00 price objective on shares of Colgate-Palmolive in a research report on Wednesday, January 29th. Finally, Wells Fargo & Company upped their target price on Colgate-Palmolive from $83.00 to $88.00 and gave the stock an "underweight" rating in a research report on Wednesday. One investment analyst has rated the stock with a sell rating, ten have assigned a hold rating and eleven have given a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of "Hold" and a consensus price target of $102.06.

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.