Invesco Ltd. Boosts Position in Colgate-Palmolive (NYSE:CL)

Invesco Ltd. increased its stake in Colgate-Palmolive (NYSE:CL - Free Report) by 2.7% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 6,537,918 shares of the company's stock after buying an additional 169,140 shares during the quarter. Invesco Ltd. owned about 0.80% of Colgate-Palmolive worth $594,362,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently bought and sold shares of the company. Cerity Partners LLC boosted its stake in shares of Colgate-Palmolive by 0.6% during the 4th quarter. Cerity Partners LLC now owns 217,237 shares of the company's stock worth $20,092,000 after purchasing an additional 1,398 shares during the period. Federated Hermes Inc. boosted its position in shares of Colgate-Palmolive by 9.1% during the fourth quarter. Federated Hermes Inc. now owns 682,369 shares of the company's stock valued at $62,034,000 after buying an additional 56,776 shares during the period. Ilmarinen Mutual Pension Insurance Co grew its stake in shares of Colgate-Palmolive by 10.3% during the fourth quarter. Ilmarinen Mutual Pension Insurance Co now owns 204,000 shares of the company's stock valued at $18,546,000 after buying an additional 19,000 shares during the last quarter. Wedbush Securities Inc. grew its stake in shares of Colgate-Palmolive by 1.9% during the fourth quarter. Wedbush Securities Inc. now owns 18,182 shares of the company's stock valued at $1,653,000 after buying an additional 335 shares during the last quarter. Finally, Grantham Mayo Van Otterloo & Co. LLC lifted its stake in shares of Colgate-Palmolive by 4.1% during the 4th quarter. Grantham Mayo Van Otterloo & Co. LLC now owns 12,677 shares of the company's stock worth $1,152,000 after acquiring an additional 495 shares during the last quarter. 80.41% of the stock is owned by hedge funds and other institutional investors.

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Colgate-Palmolive Stock Up 2.4 %

NYSE:CL traded up $2.19 during mid-day trading on Friday, hitting $93.99. 5,664,216 shares of the company's stock traded hands, compared to its average volume of 4,582,305. 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 company has a market capitalization of $76.24 billion, a P/E ratio of 26.70, a P/E/G ratio of 4.20 and a beta of 0.40. The company has a fifty day moving average of $90.48 and a 200 day moving average of $92.57. Colgate-Palmolive has a twelve month low of $85.32 and a twelve month high of $109.30.

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 (EPS) for the quarter, beating the consensus estimate 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 quarter in the prior year, the company earned $0.87 EPS. On average, analysts forecast that Colgate-Palmolive will post 3.75 EPS for the current year.

Colgate-Palmolive Increases Dividend

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

Colgate-Palmolive announced that its Board of Directors has approved a share buyback program on Thursday, March 20th that permits the company to buyback $5.00 billion in shares. This buyback authorization permits the company to reacquire up to 6.8% of its shares through open market purchases. Shares buyback programs are often an indication that the company's board believes its stock is undervalued.

Analyst Ratings Changes

Several equities analysts have commented on CL shares. UBS Group cut their price objective on Colgate-Palmolive from $104.00 to $100.00 and set a "buy" rating on the stock in a research report on Monday, February 3rd. Barclays decreased their price objective on shares of Colgate-Palmolive from $89.00 to $86.00 and set an "equal weight" rating for the company in a report on Friday. Royal Bank of Canada reiterated a "sector perform" rating and issued a $101.00 price target on shares of Colgate-Palmolive in a report on Wednesday, January 29th. Stifel Nicolaus lowered their target price on Colgate-Palmolive from $95.00 to $93.00 and set a "hold" rating for the company in a report on Monday, February 3rd. Finally, Wells Fargo & Company raised their price target on Colgate-Palmolive from $83.00 to $88.00 and gave the company 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 issued a hold rating and twelve have issued a buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus price target 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.