LGT Fund Management Co Ltd. Increases Stake in Colgate-Palmolive (NYSE:CL)

LGT Fund Management Co Ltd. increased its stake in shares of Colgate-Palmolive (NYSE:CL - Free Report) by 294.8% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 41,756 shares of the company's stock after purchasing an additional 31,179 shares during the quarter. LGT Fund Management Co Ltd.'s holdings in Colgate-Palmolive were worth $3,796,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently added to or reduced their stakes in the business. FMR LLC boosted its stake in shares of Colgate-Palmolive by 65.6% in the 3rd quarter. FMR LLC now owns 6,749,275 shares of the company's stock valued at $700,642,000 after purchasing an additional 2,674,807 shares during the last quarter. Barclays PLC raised its holdings 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 valued at $793,542,000 after purchasing an additional 2,132,747 shares during the last quarter. State Street Corp raised its holdings in shares of Colgate-Palmolive by 3.8% in the third quarter. State Street Corp now owns 48,436,276 shares of the company's stock valued at $5,028,170,000 after purchasing an additional 1,784,411 shares during the last quarter. Nordea Investment Management AB raised its holdings in shares of Colgate-Palmolive by 32.5% in the fourth quarter. Nordea Investment Management AB now owns 5,091,683 shares of the company's stock valued at $462,121,000 after purchasing an additional 1,247,731 shares during the last quarter. Finally, DJE Kapital AG bought a new stake in Colgate-Palmolive in the fourth quarter worth about $101,597,000. 80.41% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several equities analysts recently commented on the stock. 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. Piper Sandler lowered their price objective on shares of Colgate-Palmolive from $121.00 to $112.00 and set an "overweight" rating for the company in a report on Monday, January 6th. TD Cowen lowered their price target 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. UBS Group reduced their price objective on shares of Colgate-Palmolive from $104.00 to $100.00 and set a "buy" rating on the stock in a research report on Monday, February 3rd. Finally, StockNews.com raised shares of Colgate-Palmolive from a "hold" rating to a "buy" rating in a research report on Monday. One research analyst has rated the stock with a sell rating, nine have given a hold rating and twelve have given a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus price target of $101.61.

Colgate-Palmolive Stock Performance

CL traded up $0.81 on Wednesday, hitting $91.87. 3,446,465 shares of the stock traded hands, compared to its average volume of 4,103,554. The company has a current ratio of 0.92, a quick ratio of 0.58 and a debt-to-equity ratio of 13.40. The business has a fifty day moving average price of $88.72 and a two-hundred day moving average price of $95.27. The firm has a market capitalization of $74.56 billion, a PE ratio of 26.10, a P/E/G ratio of 4.20 and a beta of 0.44. Colgate-Palmolive has a 52 week low of $85.32 and a 52 week high of $109.30.

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, 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 previous year, the business posted $0.87 earnings per share. On average, research analysts predict that Colgate-Palmolive will post 3.75 EPS for the current fiscal year.

Colgate-Palmolive Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, February 14th. Investors of record on Tuesday, January 21st were paid a $0.50 dividend. The ex-dividend date was Tuesday, January 21st. This represents a $2.00 annualized dividend and a yield of 2.18%. Colgate-Palmolive's dividend payout ratio (DPR) is currently 56.82%.

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.